Update 2: Sold Out!
Update: Plastic Jungle currently buys $25 Gap gift cards for $21.79 (87.16% of the Gap card’s face value) in Amazon gift cards or $20.75 (83% of the Gap card’s face value) in cash. Plus they pay for you to ship the Gap gift card to them.
So 1,250 Membership Rewards points gets you $25 of Gap gift cards.
That gets you $21.79 at Amazon, or 1.7432 cents at Amazon for each Membership Rewards point you used (21.79/1,250).
Or it gets you $20.75 cash, or 1.66 cents for each Membership Rewards point you used (20.75/1,250).
It’s also worth bearing in mind that Gap allows you cash out any gift cards with a balance of under $5. In California they will cash out any gift card with a balance under $10.
Originally posted on 01/23/12:
Get $25 Gap Inc. Gift Cards For Just 1,250 American Express Membership Rewards Points
Offer expires 01/29/12, or while supplies last!
Gap Inc. gift cards never expire and can be used at Gap, Banana Republic, Old Navy, Athleta, and Piperlime.
On the surface it seems pretty decent, a value of 2 cents per point. However you do need to bear in mind that you can always purchase Gap Inc. gift cards for 7% off with Plastic Jungle.
You may be able to do much better with the current 30% transfer bonus into British Airways miles. Round-trip tickets (such as between NYC and Cleveland, Detroit, Toronto, and Montreal) start at just 9,000 BA miles. (7,000 Membership Rewards Points becomes 9,100 BA miles with the 30% bonus) A last-minute coach ticket can easily run $1,100, making each Membership Rewards point worth over 15 cents ($1,100/7,000)! Plus there are no last-minute booking fees and no fuel surcharges for flights wholly within the Western Hemisphere.
You may also do better by transferring points into Air Canada Aeroplan miles if you avoid the airlines they collect a fuel surcharge on. Getting a business class ticket to Australia with free stops in Europe and/or Asia for 135K miles instead paying $12,000 is a whole lot better than 2 cents per point.
But for those of you who don’t fly and like to shop, this is a pretty sweet deal!
You can borrow up to 60,000 points by calling up Membership Rewards (800-AXP-EARN) and asking for a points advance. You then have up to 1 year to earn those points from signup bonuses or spending or else they will charge you 2.5 cents per point.
Need more Membership Rewards points? Here are some Membership Rewards cards. All of them are churnable!
-American Express Consumer Platinum Card (25K for spending $1K in 3 months)
-American Express Consumer Premier Rewards Gold Card (15K for spending $1K in 3 months)
-American Express Consumer Gold Rewards Card (10K for spending $1K in 3 months)
Having problems seeing card offers? Getting a “card not available” or other error message?
1. Try using another browser (IE, Firefox, or Chrome) to see the offer.
2. You can try deleting your browser’s cache and cookies to see the offers. To do so just hold down the Ctrl, Shift, and Delete buttons on your keyboard and then delete your cache and cookies.
3. You can also try browsing “incognito” or “in-private” to see the offers. In IE and Firefox you can access this mode by holding down Ctrl, Shift, and P buttons on your keyboard. In Chrome you can access this mode by holding down Ctrl, Shift, and N. Then just return to DansDeals.com and click on the card offer you want.
-Just fill out the standard application. Don’t click for the shorter existing cardmember application or you will not get the best offer.
HT: leibima, via DDF