New Staples Visa Gift Card Promotion
Starting August 16, and running through August 22, there’s a new Staples Visa Gift Card promotion. You can buy $200 Visa gift cards with a $5 discount on the activation fee. That fee for these cards is $6.95, so you would end up paying just $1.95 per card. It’s not as good of a deal as the no-fee promotions that we have seen recently, but you can still earn super cheap credit card rewards when combined with one of the Chase Ink cards [5X Ultimate Rewards] or Amex SimplyCash Plus [5% Cashback].
Get $5 off the purchase fee when you buy a $200 Visa® Gift Card.
- Valid 8/16/20-8/22/20.
- In store only.
- Limit 5 per customer per day.
- The Visa Gift Card is issued by MetaBank
You can see the offer in the upcoming ad here.
How to Maximize Profits
This new deal gets you a $5 discount on the activation fee. So you end up paying $201.95 for a $200 Visa gift card. You are now limited to 5 card per customer per day, but can often do more based on the store, or if you go to separate locations. You lose $1.95 on every card you buy, but let’s take a look at the rewards that you can earn, and see why this is a good deal.
For every $200 Visa gift card you buy, you can earn 1,010 Chase Ultimate Rewards points if you’re using your Chase Ink Plus/Cash card. You could also try a Amex SimplyCash for 5% back. Those points are worth at least $15 or $16, so you definitely come out ahead. Even with plain cashback, you get $10.10, while spending just $1.95 per card.
How To Liquidate Gift Cards
Visa gift cards can be liquidated by buying money orders at Walmart or at various grocery stores and other locations. The PIN is already set as the last 4 digits of the card number. The can also be used for bill pay at Walmart and Kmart. If everything else fails, you can always use them everywhere Visa is accepted and you’re still earning 5X on every purchase.
Another good promotion from Staples, although not of their best ones. I would suggest going to your nearest location early on Sunday because stock runs out quickly. You are now limited to 5 cards per day.
Also remember that Chase Ultimate Rewards points can now be redeemed for 1.5 cent on select purchases, if you have a Chase Sapphire Reserve card.