Officemax is offering a $20 instant rebate with the purchase of $300 in Visa or Mastercard gift cards through 11/28/15. There is a limit of 2 per customer/business, meaning you should be able to purchase $600 in cards in one transaction and receive a $40 instant rebate.
Update: The registers are taking off more than 2 discounts on higher denominations. For example here is what the receipt for $1,800 in gift cards looks like. The register has taken $120 off instead of only $40.
Deals like this are popular because it is possible to earn 5% back or 5X points with cards such as the Amex SimplyCash and Chase Ink. Purchasing 3 x $200 cards for example would generate a $19.15 profit plus 2,904 points if you use a Chase Ink card to pay.
As you may know, variable load Visa & Mastercard gift cards are cash only at Officemax. Fortunately fixed value cards can still be purchases with a credit card. Most stores carry $200 fixed value Visa and Mastercards that work well with this promotion.
Visa gift cards sold by Officemax are issued by Metabank and Mastercards are issued by U.S. Bank. For more info on setting the pin on these cards and liquidating them, see: Beginner’s guide to buying & liquidating Visa & Mastercard gift cards