As I detailed near the bottom of My Latest Get Rich Slow Scheme: Gift Card Arbitrage post, I recently took advantage of a Safeway “Just For U” digital coupon to buy Gap gift cards at 20% off. Ever since then, I have been checking my Safeway app on a regular basis to look for more deals. A 20% off Jiffy Lube gift cards (not great) that could only be used once came and went, but yesterday a much better deal appeared. Once again, all Gap brand gift cards are 20% off and this deal might be even better than the last one!
Last time Safeway had this offer, I bought several thousand dollars worth of gift cards to resell and generated a lot of miles and points on my credit cards. A quick glance at Gift Card Granny’s sell page reveals that gap brands can be sold for up to 82% through Monster Gift Cards (Gap Kids). There are also several options to sell them digitally for 81.5% through Giftcards.com as either Gap Kids or Old Navy if you prefer that. As any Gap brand gift card can be used at any Gap brand store, you can sell them digitally as whichever type is worth the most. I’m not sure if mailing them in will offer you the same (as the end customer might be confused), so it might be worth asking before you ship off hundreds of dollars worth. Either way, you can buy these cards at 80% off and sell them above that price which means a cash profit as well as miles/points on whatever credit card you use.
As Safeway is a grocery store, any credit card that offers a grocery bonus would be great to use here, but any card can be used profitably to generate whichever points you prefer. Keep in mind that you will also be earning double fuel points on gift card purchases, so every $500 worth you buy is good for $1 off per gallon at any Safeway or Chevron gas station (I think they are ending the Chevron part soon though).
The reason I said this deal might be better than last time is because instead of saying “Save $5 Instantly”, the deal is worded as “Save 20% Instantly”. Last time, I had to buy a bunch in $25 dollar quantities which of course made checkout pretty slow and meant I had to type in way more numbers to actually sell them. With the new wording, I should be able to put any denomination on the cards and still save the full 20%. I’ll probably stick to $100 cards for selling on Raise and $300 cards for selling to Giftcards.com. I can make more by selling on Raise, but my velocity is much slower because I have to wait for someone to buy them. With Giftcards.com, I can sell them instantly and get paid pretty quickly to allow myself to go buy more. I’m a bulk seller with both of these websites, so the standard limit of how much you can sell doesn’t apply. Here’s a pic of the deal from last time:
I’m not sure if this offer is targeted or not, so check your Safeway app and report back if you’re able to take advantage of this great deal.