[Expired] 20% Discount on Gap Gift Card with Chase Ultimate Rewards Redemption

The Offer

Direct Link (when logged in)

• Redeem Ultimate Rewards points for Gap gift cards at a 20% discount

Typically, gift card redemptions make no sense since you can get cash instead. Now, they are offering 20% off Gap gift cards.

Three denominations are available:

• $100 Gap gift card for 8,000 points (regularly 10,000 points)
• $50 Gap gift card for 4,000 points (regularly 5,000 points)
• $25 Gap gift card for 2,000 points (regularly 2,500 points)

The Fine Print

• Gap, Old Navy, Banana, Athleta gift cards only
• These are physical gift cards
• Expiration unknown

Our Verdict

For a lot of people this is a terrible deal since you can get better value with travel redemption, e.g. CSR cardholders can redeem for 1.5 cents per point when booking travel through Chase.

For those who do redeem Ultimate Rewards points for cash, this can actually be a nice deal if you’re planning a Gap purchase. You can buy Gap gift cards on the exchanges for up to 16% off, so it’s certainly not anything amazing, but interesting nonetheless.

Not much of a resale angle here.

Hat tip to Slickdeals