Buying money with a credit card is always a great way to generate points. The only problem is often that there are fees for purchasing those prepaid gift cards (Visa and Mastercard). So, when there is a promotion that eliminates that fee, or cancels it out, it is a good deal.
Staples is running a promotion on prepaid card purchases. This is similar to the ones they run from time to time. You will receive a Staples gift card instead of a prepaid card, but that is not really that big of a deal because you can still find many ways to cash out the $20 Staples card!
$20 Staples Gift Card with $300 Mastercard Purchase
This offer is only valid for in-store purchases (they do not sell the Mastercard gift cards online). It is not a huge moneymaker, but if you are purchasing Mastercard and Visa gift cards at Staples (to earn points), then this little promo will wipe out your Mastercard gift card fees (and then some). If you shop at Staples, you should be using your Chase Ink Bold or Chase Ink Plus so you can earn the 5 Ultimate Reward points per dollar. If you do that with this promo, you will end up with 1,564 Ultimate Reward points (purchasing a $200 gift card + $6.95 + $100 gift card + $5.95 fee x 5 UR multiplier) and have a net profit of $8.10! Those points are worth at least $25 in future travel (when transferred to partners like United, Hyatt, or Southwest). Take advantage of this offer this week, if you can – it is good through October 18th! Easy points plus some free money.
Refer to this previous post to see about the rebate steps (similar to that deal in receiving the rebate).