(EXPIRED) Speedway: Earn 40 Points Per Dollar On 3rd Party Gift Cards

The Deal

• Earn 40x Speedy Rewards points on third party gift cards at Speedway when choosing the ‘Double Merchandise Points’ monthly perk.
• Direct link to offer.

Key Terms

• Expires May 31, 2020.
• Excludes fuel, tobacco, alcohol, lottery, money orders, in-store restaurants, milk (PA only), Speedy Cash Prepaid cards, Vanilla Visa, and NetSpend, PayPal, or Green Dot reloadable products.

Tips & Ideas

You normally earn 20 points per dollar on gift cards at Speedway, so choosing the Double Merchandise Points perk doubles that to 40 points per dollar. If you buy a $500 gift card, you’d earn 20,000 points which can be redeemed for fuel savings, Speedy Cash, other third party gift cards and more. The value depends on what you redeem for and, in the case of gift cards, their total value.

To give an example of how this could be used, let’s say there are two of you in your household and you each have a Discover It card which is earning 5% cashback at gas stations this quarter. If you bought $1,500 of third party gift cards on each card to max out the 5% category, you’d end up with a total of 120,000 points ($3,000 * 40). You could redeem those points for $115 Speedy Cash which can be used for fuel and have 4,050 points left over.

That particular scenario results in a 3.83% discount on the gift cards (if valuing Speedy Cash as good as cash) which isn’t amazing, but might be worth it for some people if buying high value brands like Amazon and Best Buy. You’d also earn $150 cashback from Discover on top which makes the deal better if you wouldn’t otherwise max out this quarter’s $1,500 allowance per card.

h/t Ari for the deal & special thanks to Matt & BBO for helping me understand how Speedy Rewards works.