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I was at my local Rite-Aid store and of course had to look at the gift card rack. I noticed Apple Store gift cards – in the past, I’d only seen iTune gift cards, but never Apple Store gift cards. In fact, I don’t think I’ve ever seen Apple Store gift cards for sale at any other retail store except the Apple Store. These cards came in a variety of denominations, and all no-fee.
Most shopping portals offer less than 5% for the Apple Store, but by buying these gift cards at Rite-Aid, many credit cards pay increased points, miles or cashback. Looking at the bigger picture, are there larger opportunities with these gift cards? Can they be churned, etc?
Has anyone brainstormed the possibilities with these cards? Would you use these cards for a major purchase, or would you be more inclined to use a credit card (even if you earned less points or miles), so you could take advantage of the purchase protections a credit card might offer?
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.