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This article applies to: ML v7, ML8, MultiStore

Preventing Customer Level Discounts on Specific Products

Store admins may want to give some customer levels discounts on most products, but not all.

The easiest way to set this up is to create the customer level with the discount as usual, but make sure the "Customer level discount applies to extended prices" attribute is set to "No".  Once that is done, set up extended prices on the products you wish to exclude from the customer level discount (for example, gift cards).  Those extended prices can be set to the same as the default price, so customers in that customer level see the same price as everyone else.