Oh, got it now! How do you do MSing for more than 2% points?
For example, let's take the amex everyday preferred card. You get 3 points per dollar for spending in supermarkets, up to $6k a year. Additionally, every month you make 30 transactions, you get a 50% bonus on points earned from spending that month. If i go into the supermarket and buy 6k in gift cards, it will probably cost me $72 ($5.95 each). I'll get 27k MR points for that spend. Assuming you valuate MR at 1.4 cents per point, that's $378 worth of points. Subtracting the fees ($72) would leave you with about $300 net profit, which is 5% back. That's much better than using the 2% card to buy gift cards. Assuming you pay $4.95, which is slightly cheaper, you're still only netting 1% profit.