[Expired] Another easy 2K Ultimate Rewards if you can find stock at Staples

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Through Saturday, October 28th, Staples is offering a $15 Staples Gift Card Rebate on $300 or more in Visa or Mastercard Gift Cards. Thanks to members of the Frequent Miler Insiders group for reminding me that we hadn’t yet posted this! You’ve got tomorrow and Saturday left to take advantage of this one (and don’t forget the Office Depot / Office Max deal if you can find 5 Back Visas in stock) and the Gift Card Mall deal ends tonight.

The Deal

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

Key Terms

  • Valid 10/22/17 to 10/28/17
  • 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 and pay with a card that earns 5x like the Chase Ink Cash card. 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.

Both Visa and Mastercard Gift Cards at Staples come PIN-enabled. The Mastercards 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). Whether you buy Visa or Mastercard, I would still suggest using your gift cards sooner rather than later.

H/T: Doctor of Credit and the Frequent Miler Insiders

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