[Expired] Easy win: 5X + $15 back on $300 in Mastercard gift cards

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Through Saturday, September 23rd, Staples is offering a $15 Staples gift card rebate on $300 or more in Mastercard gift cards. While this isn’t as good as a Visa gift card rebate, Staples gift card rebates are still an easy win as you can earn 5x with a card like the Chase Ink Plus or Ink Cash and get a rebate worth more than the activation fee on the cards.

 

The Deal

  • $15 Staples gift card rebate by mail when purchasing $300 or more in Mastercard gift cards

Key Terms

  • Valid 9/17/17 to 9/23/17
  • In-store only
  • Only one rebate per name/address/household

The Math

This week’s rebate is a Staples gift card, so you will be limited to using it at Staples (and you can not use it to buy a gift card). However, current resale rates for a $15 Staples gift card can still nearly wipe out the activation fees if you do not regularly shop at Staples:

 

To maximize rewards, you’ll want to buy two $200 gift cards. Assuming you are selling the Staples gift card, the final math would look like this:

$413.90 (total cost for two $200 gift cards with activation fees)
-12.45 (rebate value in cash if Staples gift card is sold)
$401.45 net cost for $400 in Mastercard gift cards + 2,069.5 Ultimate Rewards

Conservatively valuing the Ultimate Rewards at 1.5 cents each (the rate at which they can be redeemed for travel if you have the Chase Sapphire Reserve), the points are worth at least $31, but you may get quite a bit more value with transfer partners.

These cards are issued by US Bank and should contain a PIN in the packaging. Of course, the PIN can not be used to withdraw money from an ATM, but should work for buying a money order in some locations. Note there has been some discussion about issues this year with Staples Mastercard gift cards being hacked. If you buy these gift cards, you might consider using/liquidating them sooner rather than later out of caution. One reader suggested registering your card online immediately after purchase (so that it has your name/billing address associated with it). I would still suggest using your gift cards sooner rather than later.

About Nick Reyes

Nick Reyes is a (fairly) regular guy with an animalistic passion for maximizing the value of miles and money to travel the world in comfort and style. There is little in life that he loves more than finding a fantastic deal and helping you shop smarter & harder to achieve your travel dreams.

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Comments

  1. I’d heard about Staples Rebate Gift Cards being hacked. Never heard of actual Gift Cards that one can buy in the store being depleted by hackers.

    Wanted to buy the MC this time for the $15 rebate but might need to re-think.

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