Don't miss out! Join the thousands of people who subscribe to our once-daily email or our free miles and points Facebook group with all the best travel news. Some links on this page may pay me a commission - as always, thanks for your support if you use them
Staples has a deal going on in-store next week (starting Sunday November 6th) for 20% off all Gap brand gift cards. You can see it in next week’s Staples ad (on page 12)
It is in-store only, but should be good on any of the Gap Brand cards (Old Navy, Gap, Banana Republic, Athleta, etc).
As it stands right now, this is not a moneymaker on the surface (unless you are counting the 5x Chase points from buying the cards with a Chase Ink card, which I would consider sketchy). Looking at GiftCardWiki, the highest buy price on Gap / Old Navy cards is 74%, which means you would lose $6 on every $100 card. You would get 400 Chase points ($80 * 5), but again, that would not be compelling for me personally (but you travel how you want to travel).
Depending on your commission at places like Raise, it could work there as well. I think 15% is the default commission, but some bulk sellers have better rates. In late 2015, I ended up buying $18,030 in gift cards to resell (mostly Gap / Old Navy and mostly on Raise).
The other thing to consider is that this deal is likely to FLOOD the market with these cards. Personally, unless you’re willing to float the money for several months, I would not count on needing to either sell them at a larger than average discount or be comfortable floating them for awhile. When I sold those $18,030 in gift cards last year, I did end up with a slight profit, though it took MONTHS for me to finally sell the last ones.
Over on the Points With a Crew miles and points Slack channel, in #giftcardselling we are talking through a couple of different options that might improve the payouts and make this more of a deal.
Good luck out there and happy shopping! (Just save a few Gap cards for me please!) 😀