I was thinking the same. I maxed out on my Chase Freedom Q4 warehouse bonus on Sam's GC deals on Southwest and Instacart last month, but still happy that I can have this deal with the easy 10% + 2% Excecutive rewards + 2% Costco Citi Visa rewards. I checked for GC exclusions on Costco's Executive rewards website and it only mentioned their own shop cards as being excluded but when I googled the question itself CNET said gift cards (without any qualification) are excluded. Regardless, still a good discount and a little bit easier to upload one set of codes instead of multiple sets with the lower denomination GCs.