Staples is offering a rebate on Visa gift card purchases this week and it could not have come at a better time for me as I need to meet my minimum spend on a few new credit cards. The rebate is valid for in-store Visa gift card purchases from May 24 through May 30.
If you buy $300 or more of Visa gift cards at Staples stores this week you will receive a $20 Visa prepaid gift card after easy rebate. $20 is more than the fees you would incur for purchasing $300 of gift cards so you would be earning some extra profit.
How Much Can You Earn?
How many points you earn depends on the credit card used. The best cards to use are those that earn 5% at office supply stores (such as the Ink cards), but can still earn money and points using another credit card.
The amount of money you earn will depend on what gift card denominations you purchase. Staples offers Visa gift cards in $100 and $200 denominations with fees of $5.95 and $6.95, respectively.
To minimize fees, it would be best to buy the highest denomination gift cards you can find. Ideally, Staples will carry $200 Visa gift cards (which is not always the case).
Here is a breakdown of how much money and how many points you can earn depending on which denominations are purchased:
Option 1: Two (2) $200 Visa gift cards
- In my opinion, this is the best option and would earn the maximum number of points.
- Fees equal $13.90, with a profit of $6.10 after rebate.
- Using a card that earns 5% at office supply stores earns 2,069 points, a typical 1% credit card earns 414 miles/points.
Option 2: One (1) $200 Visa gift card + one (1) $100 Visa gift card
- This would be the best option to earn the highest cash profit. You will earn slightly less points than option number 1.
- Fees equal $12.90, resulting in a profit of $7.10 after rebate.
- A 5% card earns 1,564 points, a 1% credit card earns 313 points.
Option 3: Three (3) $100 Visa Gift cards
- This option has the highest amount of fees and lower profit margin but might be the only choice if your Staples store does not stock or has run out of $200 gift cards.
- Fees equal $17.85, resulting in a profit of $2.15 after rebate.
- A 5% card earns 1,589 points, a 1% credit card earns 318 points.
How Do Staples Rebates Work?
For anyone unfamiliar with the Staples Easy Rebates process, here is how it works:
- Buy at least $300 in Visa gift cards using your credit card at a Staples store. The cashier will hand you a rebate form with your receipt. There is only one rebate per household. You could use the address of a friend or family member to earn more than one rebate.
- Complete and submit your rebate form. I like to do mine online at stapleseasyrebates.com and it only takes a minute or two.
- A few weeks later you will receive your $20 Visa prepaid gift card by mail.
I work near a Staples store so I will be stopping by to stock up on gift cards. Will you be heading to Staples to pick up some gift cards this week?