Microsoft has for its Level 2 Members, $5 gift cards for 4,185 points. Not as good as the 3,500 deal but not bad either, especially since this month you can earn double points for using the Edge app.
Login to your account and go to the Redeem section. You should see a reward called $5 Microsoft Store Gift Card Digital Code.
Note, this is not the same as the regular category where you can choose various denominations, it is a separate listing. If you can choose another value of card besides $5 then go back and scroll down further.
*Promotional gift card. Redeem by June 30, 2018 and spend within 90 days of redemption. Works with Microsoft Store online, Windows 10, Xbox One and Xbox 360 (Xbox Live required). Does not work at physical Microsoft Stores. Once redeemed to your U.S. Microsoft account, the full code value will be applied and may be used for eligible purchases (exclusions apply) made directly at select Microsoft digital stores. Eligible purchases and prices vary by region, device, and over time. Geography limitations, country and balance restrictions, taxes, and Internet connection fees may apply. Paid subscriptions required for some content. Age restrictions apply. Except as required by law, credit cannot be redeemed or exchanged for cash and is not refundable. To read full terms and conditions (which may change without notice), go to microsoft.com/cardterms. Void where prohibited or restricted by law. Cards and codes issued by and ©/™/® Microsoft Corp, a Washington Corporation, and/or its affiliates.