As your trusted rewards experts at RewardSmart, we're always on the lookout for smart ways to boost your points and cash back. A familiar and popular promotion is back at Office Depot and OfficeMax stores, presenting a golden opportunity for savvy credit card users.

The Deal Breakdown: Instant Savings on Mastercard Gift Cards

From June 7th to June 13th, 2024, Office Depot/Max is offering an instant $15 discount when you purchase $300 or more in Mastercard gift cards. This isn't a rebate or a future credit; the discount is applied directly at the register, reducing your out-of-pocket cost immediately.

Let's break down the economics. Mastercard gift cards typically carry an activation fee. For a $200 Mastercard gift card, the fee is usually $5.95. To reach the $300 threshold, you might buy one $200 card and one $100 card (which has a lower fee, often around $4.95), or two $150 cards. Assuming you purchase one $200 and one $100 card, your total fees would be approximately $5.95 + $4.95 = $10.90. With a $15 instant discount, you're effectively paying $10.90 for $300 in gift cards, then receiving $15 off, resulting in a net gain of about $4.10 before factoring in your credit card rewards. While a few dollars in profit is nice, the real value of this promotion lies in the credit card spend you generate.

Maximize Your Earnings: Strategic Card Choices

This deal shines brightest when paired with the right credit card. Here's how to turn a small gift card profit into significant rewards:

  • Office Supply Store Bonus Categories: Cards like the Chase Ink Business Cash® card offer a phenomenal 5% cash back (or 5x Ultimate Rewards points) on purchases at office supply stores, up to a certain spending cap per anniversary year. Using this card, your $300 purchase could net you 1,500 Ultimate Rewards points, worth a minimum of $15 in cash back, or potentially much more if transferred to travel partners. Similarly, the Amex Business Gold Card offers 4x points on your top two spending categories, which could include office supply stores if it's one of your highest spend areas.
  • Meeting Minimum Spending Requirements: If you've recently opened a new credit card and are working towards a lucrative welcome bonus, this is an excellent, low-risk way to add $300 to your spending total. Every dollar counts when chasing those big point payouts!
  • Everyday Spend Cards: Even if you don't have a specific office supply bonus card, using a card that earns 2% cash back or 2x points on all purchases (e.g., Citi Double Cash, Fidelity Rewards Visa Signature) means you'd still earn $6 in rewards on your $300 purchase, effectively increasing your overall positive return.

Navigating the Nuances: Fees & Liquidation

While the instant discount makes this deal appealing, understanding the full picture is crucial:

  • Gift Card Activation Fees: As mentioned, these fees reduce your net cash profit from the $15 discount. Always factor them in.
  • Liquidation Strategy: Once you have the Mastercard gift cards, how do you convert them back into usable funds without incurring more fees? Common strategies include:
  • Everyday Spending: Simply use the gift cards for your regular purchases like groceries, gas, or online shopping. Treat them like a debit card.
  • Bill Pay: Some bill payment services or utility companies allow you to pay with a debit card, which Mastercard gift cards function as. Always check for fees.
  • Money Orders (Advanced): For more advanced users, purchasing money orders with gift cards at certain retailers (like Walmart or some grocery stores) can be a way to convert them to cash, but this method requires careful research and understanding of local store policies and potential fees.
  • Tracking: Keep meticulous records of gift card numbers and balances. Use a sharpie to write the remaining balance on the back of the card after each use to avoid issues.

Is This Deal Right For You?

This promotion is ideal for two main groups:

  1. Rewards Maximizers: Those with credit cards offering bonus categories at office supply stores, looking to efficiently accrue valuable points.
  2. Minimum Spend Chasers: Individuals needing to meet a new card's welcome bonus spending requirement, seeking a low-cost way to hit that target.

For beginners, this is a relatively low-risk way to dip your toes into gift card reselling strategies, as the instant discount covers the fees. However, always ensure you have a plan to liquidate the gift cards before buying them.

RewardSmart's Takeaway

This Office Depot/Max Mastercard gift card promotion is a straightforward way to generate credit card spend and earn rewards. By strategically choosing your credit card and having a clear plan for using the gift cards, you can turn a simple shopping trip into a valuable rewards-earning opportunity. Remember to act by June 13th to take advantage of this instant $15 discount. Happy earning!