The amount can be applied. Here are the details:
Offer expires September 10, 2014 (11:59 P.M. PT). Offer is good for one free 20-page 8×8 hard photo cover photo book through shutterfly.online, Shutterfly Photo Story app for iPad or the Shutterfly iPhone app. Offer cannot be redeemed more than once per account and/or billing address. Taxes, shipping, and handling will apply. Customer may add options to their 8×8 book (additional pages, cover options, layflat pages, StorytellingTM styles, memorabilia pockets, etc.) at additional cost. Alternatively, customer may apply the current price of a 20-page 8×8 hard photo cover photo book (after taking into account any current discounts on shutterfly.online) toward the purchase of any larger photo book. Not valid on 5×7, 7×9, 8×8 or 8×11 soft cover photo books, prepaid plans, other products, prior purchases, purchases made on the Android apps or Shutterfly Pro Galleries. Cannot be redeemed for cash or onlinebined with other offers or credits. Not valid for resale.