American Express [americanexpress.com] is offering $250 Ralph Lauren physical gift card for 17,500 MR points.
Amex MR to GC redemption is usually worse than 1:1 ratio, so 30% off seemed like a good deal to me. YMMV
Edit: Offer was available on my Everyday card, but looks like it is a targeted offer. Added YMMV.
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How long ago was it? It's against the law to have an expiration date or dormancy fee on a gift card in many States.