Published on March 23rd, 2015 | by Chuck11
Gift Card Arbitrage at Safeway, 20% Off Gap Gift Cards
We’re seeing a couple of reports (here and here) of a 20% discount on Gap and Old Navy gift cards at Safeway. This is a great deal for Gap/Old Navy purchases, but it’s also an arbitrage opportunity. Per giftcardgranny.com, you can get up to 81.5% for selling Old Navy gift cards and up to 80.5% for Gap. Presumably the same deal would apply to Banana Republic gift cards which can be resold for up to 80.5%.
Offer valid until 4/4/15.
You wouldn’t profit much from the resale, but you’d earn yourself free credit card points (ChasingThePoints-style). This can be very valuable since Safeway would code as a supermarket which can often get you bonus category points.
Additionally, there are also reports of 3x gas points (this is the last one for today, you have my word) for buying Gap gift cards currently.
I can’t give many more details on this deal since it’s apparently only visible to Safeway members. I tried registering as a member online but it wasn’t working. My guess is that you need to originally get a Club card in-store.
Anyway, somewhere in your Safeway For U account you’ll hopefully see these offers of 20% off on Gap/Old Navy gift cards and the 3x gas rewards.
I’ll be in a Safeway area later this week, maybe I’ll be able to check this out and make use of it myself. I’d probably buy up thousands of dollars worth of gift cards and then resell them. But only do amounts that you’re comfortable with and amounts that you can float.