The Offer
Via Money Meta Game (add this blog to your feedly if you haven’t already, going to be very useful for the giftcard reselling space). Also follow him on Twitter.
- Receive a 20% discount at Safeway on all GAP Brand gift cards (e.g GAP Kids, Old Navy, Banana Republic). You need to add this offer to your just for U account and use your loyalty card at check out to receive this discount.
Update: Some people report only receiving the $5 off discount, rather than a flat 20%. YMMV. You could still get 20% off if you purchased $25 gift cards, but that is a lot more work.
The Fine Print
- No limit on the amount you can purchase
- Valid until May 9th, 2015
Our Verdict
They offered a previous deal which was similar, but it was $5 off which meant you had to purchase $25 gift cards to get the 20% discount which is a real pain. This deal is much better as it’s a true 20% discount so you can purchase larger increments. You’ll be able to sell these gift cards for 80% of face value (you can get 82% for reselling GAP Kids giftcards to Monster Gift cards or 81.5% to Giftcards.com which will accept eGiftcards which might be easier).
Obviously this deal only really makes sense if you’ve got a credit card that earns at a high rate on grocery purchases, or if you wanted to meet a minimum spend requirement. If you had a card that earned 5% on grocery store purchases and could get 82% of face value on the gift cards here is your profit on a $100 gift card:
- $100 gift card for $80 = $4 cash back in rewards
- Sell $100 gift card for 82% of face value = $2 profit
So you’d be netting $6 or making 6% profit, which isn’t too bad at all. If you’re new to gift card reselling, read this post first. Also read this recent negative experience to fully appreciate how things can go wrong.
Hat tip to Money Meta Game
