Posted by Chuck on March 23, 2015
Manufactured Spending

Published on March 23rd, 2015 | by Chuck


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, 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.

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No Safeway near me.. 🙁

I was out in Silicon Valley last week on business and couldn’t believe the ease with which one can MS at Safeway. Didn’t hit it too hard since I didn’t care to risk taking $5k in VGC on the plane, but damn was I jealous. In WI, grocery MS is a lost cause.

Nah. Once you scale it the hammer will fall.

Excellent, thanks. This will help me hit the limit on my 2nd Freedom card!

Data Point: Tested this today and it does not work. It’s $5 per card. So therefore it’s only feasible if you buy 25 cards at $20 each which is not worth the effort for MS or arbitrage.

It worked for me in MD. I bought a $100 gift card to start and got it for $80 with no fee. Then went back 2 days later and bought 2x$500 gift cards for $800. The clerk was shocked when she saw the savings of $200. I only got 2x the gas points but got 6% back on my Amex pref cash.

Hit this for a few grand worth of old navy gift cards. Between gas points, small profit from reselling, and credit card cashback this was a pretty great and easy deal. Thanks for posting — this is one of the reasons I love your site. You post deals nobody else talks about!

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