Neiman Marcus Flexpoints promotion update

Last Wednesday I reported that most holders of the US Bank Flexperks Travel Rewards Visa received offers of 3,500 Flexpoints after spending $50 on the card between May 6 and May 19, and that you could buy a $50 gift card and then resell it on Plastic Jungle for $42.50.

There are two updates to make to this technique, for those who haven't yet taken advantage of this promotion.

First, Plastic Jungle has closed their consumer-facing business, so it's not possible to resell these Neiman Marcus gift cards on that site anymore. To find another place to resell the cards, you can use GiftCardGranny to easily compare the payouts offered by different gift card marketplaces and find the best offer.

Second, I bought my $50 Neiman Marcus gift cards at neimanmarcus.com after clicking through the Ultimate Rewards shopping portal, in order to earn 200 Ultimate Rewards points for each purchase. Even though the Ultimate Rewards portal says that points aren't earned on gift card purchases, I'm happy to report that about a week after placing my orders I received two e-mails from Chase telling me I had earned extra points:

Since 200 Ultimate Rewards points are worth $2 in cash (and more than that if transferred to their airline or hotel partners), my net cost for up to $70 in US Bank Flexpoints was $5.50.