(EXPIRED) Speedway: June 2020 Perk – Earn 40 Points Per Dollar On 3rd Party Gift Cards

Update 6/1/20: A quick reminder to select your perk for this month if you haven’t done that yet.

The Deal

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

Key Terms

• Offer valid June 1-30, 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

June’s offer is the same deal as this month. You normally earn 20 points per dollar on third party gift cards at Speedway, so if you select the Double Merchandise Points perk then you’ll earn a total of 40 points per dollar. You can redeem those points for fuel savings, merchandise and even gift cards for both Speedway and other brands.

The more points you earn, the better redemption value you get, so there’s no set way of calculating how much Speedway points are worth. Here’s an example I used in last month’s post though to give you an idea:

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.

If you’ve already maxed out this quarter’s $1,500 limit for 5% earnings on the Discover It card, June’s offer might not hold as much appeal unless you have a different card that earns at a higher rate at gas stations or are working on the signup bonus for a new non-Amex credit card.

Speedway has just released a bunch of bonus point offers in their app which can be earned when buying gift cards. Those are due to expire on May 27, but they’ll hopefully either be extended or have new offers take their place. Update: Another batch of bonus point deals are available through June 30.