I know, it’s not the $0 fee promotion we’ve been waiting for, but it’s better than the 10% corporate Visa discount Simon Mall has been offering. My Simon Mall rep called me this morning to let me know that through December 24, they’re offering $1 off Visa gift card fees. So the normal $3.95 fee per $500 card drops down to $2.95. Before you roll your eyes, that $1 discount actually makes a substantial difference if you’re buying Visa gift card in bulk. On a ~$10,000 purchase, you’ll save $20. Still not impressed? Consider the fact that earning 100,000 miles (enough miles for a roundtrip business class ticket to Asia) ends up $200 cheaper.
The great thing about this $1 off promotion is that it’s happening through December 24. That gives you almost two weeks to take advantage of it! Last year, when Simon Mall ran their $0 fee promotion, it was only for a week. I showed up on the last day with my credit cards almost maxed out. At least with this promotion, you’ll have more time to pay off your credit cards and take advantage of this deal. This Simon Mall promotion is really perfect if you’re trying to take advantage of some annual spending bonuses.
A while back I wrote about the new American Express Hilton credit cards and how Citi would be transferring accounts over to American Express. I plan on closing my dad’s Citi Hilton Reserve account before the transfer. However, I do want to milk that card while I still can. I doubt Citi will shut him down with one month left to go, so I’m not even concerned about cycling credit limits. This promotion presents a great way for me to wrap up the last bit of spend to secure his Hilton Diamond status and some bonus points at a discount. If you’ve hit the $30,000 monthly purchase limit at giftcards.com, this is a great way to keep manufacturing spend at a reasonable cost.
So how does this promotion stack up against buying Visa gift cards from Giftcards.com? If you’re buying Visa gift cards from giftcards.com, you’re paying roughly $17.20 per $2,500. If you’re buying MasterCard gift cards at 1.25% cash back, that out of pocket cost drops to $10.95 per $2,500. Meanwhile, $2,500 worth of Simon Mall Visa gift cards will set you back $14.75 during this promotion. So it’s cheaper than online Visa but more expensive than MasterCard gift cards. Regardless, I think it’s worth taking advantage of so you have some variety in your spending patterns.
Are you going to milk this $1 off Simon Mall Visa gift card promotion? Or are you sitting this deal out?