20% Discount When You Redeem Membership Rewards on Gift Cards
American Express is offering a discount when you redeem your Membership Rewards points for third party gift cards. The offers could vary from one account to the other, but there’s a few options available at a 20% discount.
Use 20% less Membership Rewards points when you redeem for any of the following gift cards (cents per points value after discount shown) :
- Gap – 1.25 cpp
- iTunes – 1.06 cpp
- Old Navy – 1.25 cpp
- Whole Foods – 1.06 cpp
- Offers must be redeemed online between 8/6/2018 and 9/30/2018.
- Offers are not transferable and may not be combined with other offers.
Redeeming Membership Rewards points for gift cards is probably not the best option. You can usually get best value for Membership Rewards points by transferring them to travel partners, or through American Express Platinum Card for Schwab that gives you 1.25 cents per point in cash.
But with a discount it could make sense to use them for gift cards as well if you don’t have any travel planned or if you have a small balance left.
Let us know if you see any other brands included.