If you have a Chase Ink Bold Visa card, you're already getting 5x points or 5% cash back at office supply stores like Staples. The largest denomination gift cards sold by them is $200 for about $7 for a total of $207. After 5% cash back, you're still spending $197 for a $200 card, effectively.
You can further squeeze more cash back by signing up at visasavingsedge.com and registering your Chase Ink Bold card for an additional 1% cash back.
So you can effectively spend $195 (after these cashback rebates) for a $200 gift card, better than any arbitrage opportunities I've ever seen in the financial markets! Just don't abuse it by generating several thousand dollars in manufactured spending each month. Load your Staples-purchased gift cards onto your Bluebird account at Walmart to pay your rent, mortgage, car payments, student loans, utilities, etc. and other large bills that you normally need to pay anyways.