This is basically the same deal Staples ran back in April which is a great way to pick up some Ultimate Rewards points with no real end cost in the end. The normal issue with buying prepaid cards in brick and mortar stores is the lack of high value cards and lack of methods to reduce those purchase fee’s. However every month or so Staples and Office Max will run promotions making these cards more attractive.
Right now through Saturday, June 21st, Staples is running a special offering a $20 Visa prepaid card when you purchase $300 or more Visa Gift Cards. The $200 cards have a fee of 6.95 each so I usually just buy two of those at a time. So doing the math you will spend 6.95*2=$13.90 to receive a $20 Visa for a profit of $6.10 plus you will have earned 2,000 Ultimate Rewards points.
The downside of this offer is that there is a limit of 1 rebate per household which makes it a lot harder to scale up these offers. However, you might find that your mother, brother, cousin, friend, etc may all very much want a rebate sent to them 🙂 As long as you can convince them to give it to you when it arrives. Actually that just reminded me that my brother should have one of these $20 rebate Visa’s for me at his house still….
Anyway, this is a pretty good deal you should jump on if you have an Ink card and are near a Staples. I have a feeling that my parents, grandparents, & brothers will all be receiving one of these rebates 😉