Thursday, June 11, 2015

Brooks Brothers Gift Cards and AMEX Offers for You - $17 per AMEX Card - Pajama Money

Disclaimer: I receive a referral commission for the following link(s) and I greatly appreciate supporting the site:  Mr. Rebates

Update: SaveYa has stopped buying Brooks Brothers gift cards but Gift Card Zen and ABC Gift Cards are still buying them at 74%.  That's less than the 75% previously, but still very good.

One of the new American Express Offers for You is for Brooks Brothers.  The offer is $50 off a $200 purchase and expires at the end of June.  My first inclination when I see an Offers for You is whether it can be used for gift cards and can I sell those gift cards for a nice profit.  You didn't think you were buying shirts, did you?

In this case, the answer is barely.

$200 physical gift cards will trigger the congratulatory email from American Express for using a synced offer.  Therefore, it is $150 for a $200 gift card.

eGift Cards will not work.  eGift cards are treated differently because they are processed by a different site called Cash Star.  Physical gift cards come in the mail, but there is free shipping.

Currently, $200 gift cards can be sold via SaveYa for $151 $150.  $1 profit, breakeven.

Not worth your time for $1, right?  Wrong.  It gets better.

Enter Mr. Rebates

The next thing to check is whether shopping portals payout for buying gift cards.  Frequent Miler Lab tells us nothing about Brooks Brothers.  Chase Ultimate Rewards currently pays out 6 UR points per $1 spent.  That's not bad.  The problem is that the Terms and Conditions specifically exclude gift cards.  I bought one anyone just to see what happens, but the results won't come back for a while. Update: Ultimate Rewards portal points posted as well

According to Cashback MonitorMr. Rebates is currently the highest payout at 8%.  I tried Mr. Rebates as well.  Luckily for us, Mr. Rebates doesn't seem to believe in having Terms and Conditions.  After buying a gift card, I got this email the next morning:

That's pretty exciting.  $16 cashback on a $150 purchase (after AMEX offers for you credit).

Your Haul

If you use Mr. Rebates and sell your gift cards through SaveYa with no price changes, you will earn $17 $16 for a $150 purchase which is 11.33% 10.66%.  You also earn 150 points in whichever card you are using.

I found the offer on all of my cards.  I have 32 primary or authorized users between my wife and myself.  I bought $6,400 of Brooks Brothers gift cards.  I expect to earn $544 + lots of free points.  After each purchase, I went back to Mr. Rebates and then on to Brooks Brothers again.  Total time will be no more than 3 hours for my 32 cards. Not too shabby!

If you have the offer on multiple cards in the same online log in, before you add it to any one card, open a new window in your browser for each card.  Activate them all at the same time.  Otherwise the offer will disappear from the rest of your cards in the same online account.

A Word of Caution

Gift card reselling prices are always in flux.  When big deals like these come out, you should sell as soon as possible to minimize the chance that the price being offered for your gift card lowers because of resellers.

Another possible prolem is that the purchases may not track properly.  I wouldn't bother asking for the money if it doesn't track since they might clawback the other purchases.