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Portals To Say Goodbye to American Express Gift Cards AGAIN!
While this may seem like deja vu, we may once again be on the eve of American Express gift cards being pulled from online shopping portals. Both Frequent Miler & Frugal Travel Guy are quoting a “credible source” saying that they will be pulled from all portals tomorrow.
It was just a few months ago that American Express gift cards disappeared the first time. Prior to that, it was common to see up to 4% cash back for their purchase. (Oh how I miss buying them through the Arrival portal.) Since they returned at the end of September, the highest payout we have seen was 2.5%, but the norm has been 1.5%.
We really don’t know why American Express pulled the gift cards from portals previously or why they are doing it now. Perhaps they want to make some behind the scene adjustments or maybe the margins just don’t warrant them paying through the portals.
Since their return at the end of September, we have seen a ton of advertising and one day increased payout promotions from various portals for the purchase of the cards. To me this seemed to indicate that American Express was supporting the gift cards being advertised through portals, but who knows what happened.
Either way, if you plan to make any last minute purchases, both BeFrugal and Top Cashback have the highest payouts right now at 1.5%. As far as I can tell there isn’t a definitive time for them being pulled, so I would buy sooner rather than later.