I’ve written about Visa gift cards as an alternative for loading Bluebird now that Vanilla Reloads are dead. In the past, I’ve purchased these from Giftcardmall via Extrabux and TopCashBack. Now there is an even better deal if you have an Ink card. Staples is currently offering $200 Visa gift cards online. These cards have a $6.95 fee and while that sounds high, using your Ink card earns you 1,000 points (at 5 points per $1). At this rate, it’s cheaper to buy these $200 gift cards at Staples than it is to buy Visa gift cards at CVS or a grocery store (especially if you don’t have a card that earns a category bonus). If you were to convert the 1,000 points to cash, you’d end up with $10, which leaves you with a $3.05 profit. I know, don’t quit your day jobs yet.
As Omar at Travel Summary points out, you can increase your profits further by shopping via Swabucks, which is currently offering 6 points per $1 at Staples. According to Omar, the 1200 Swagbucks earned per $200 Visa gift card is worth $12 in Paypal credit. Taking this into account, you are essentially earning $5.05 + 1,000 Ultimate Rewards points for every $200 gift card purchase.
This is a pretty great deal and just as soon as I’m done wrapping up this post, I’ll be stocking up on Visa gift cards. There’s nothing as rewarding these days as earning both points and cash. With my limited travel schedule, I like that I’ll have the flexibility to redeem my Ultimate Rewards points from this promotion via statement credits if United or Hyatt (my go-to transfer partners) end up announcing yet another devaluation before I can redeem them.
Disclosure: I may earn referral credit if you use the Swagbucks link in this post. If you decide to use my link, be sure to enter code “FreeGiftCards” at registration for 50 extra Swabucks.
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