Streaming Freebies A well-rounded blog about all things tech.

31May/136

Easily Turn American Express Membership Rewards Into Amazon Credit or Cash

In honor of the blog title, Streaming Freebies, I'd like to share a little money hack on how to make the most out of the American Express Membership Rewards points and work around the limited selection of redemption options.

After following the blog The Points Guy in order to keep up with the greatest credit card bonuses, I signed up for the American Express Premier Rewards card with a 50,000 point bonus, only to find out that my redemption options for my points were limited to gift cards for a few merchants, goods, and travel. What I really wanted was Amazon.com credit, but American Express cuts the point value in half if you shop with the points through Amazon, slicing my $500 in points credit to $250.

Fortunately, getting Amazon credit or even regular cash is as easy as buying $500 in gift cards with a high resale value and putting them up online. I chose to resell my cards through CardCash due to the very good value and solid BBB.org rating.

Using CardCash's website and comparing the value of each gift card available through the Membership Rewards, I found that the cards ranged from as low as $34.65 Amazon credit per $50 to as high as $47.25 Amazon credit per $50. I compared each card and have posted the values in the table below.

Important edit: These values change AT LEAST weekly, so make sure to do your own comparison! :)

Gift Card Value Comparison

Vendor
Value
Dell$47.25 Amazon credit per $50
Home Depot$45.68 Amazon credit per $50
Tiffany$45.15 Amazon credit per $50
Staples$45.15 Amazon credit per $50
Nike$44.63 Amazon credit per $50
Neiman Marcus$44.63 Amazon credit per $50
Saks 5th Avenue$43.58 Amazon credit per $50
Coach$43.05 Amazon credit per $50
West Elm$42.53 Amazon credit per $50
Lands' End$42.53 Amazon credit per $50
Williams-Sonoma$42.53 Amazon credit per $50
Pottery Barn$42.00 Amazon credit per $50
Banana Republic$42.00 Amazon credit per $50
Gap$42.00 Amazon credit per $50
Victoria's Secret$42.00 Amazon credit per $50
REI$42.00 Amazon credit per $50
Old Navy$41.48 Amazon credit per $50
Gap Options$40.95 Amazon credit per $50
Pottery Barn Teen$39.38 Amazon credit per $50
Restoration Hardware$39.38 Amazon credit per $50
Bergdorf Goodman$39.38 Amazon credit per $50
Bath and Body Works$38.85 Amazon credit per $50
Cole Haan$34.65 Amazon credit per $50

Surprisingly, the card with the highest value is Dell, which can ultimately be redeemed for $472.50 in Amazon credit, or $450 in cash, for $500 in cards.

Value of redeeming Dell gift card with CardCash

CardCash Dell Redemption (click for bigger image.)

Comments (6) Trackbacks (0)
  1. Tiffany & Co gift cards are available again, so that appears to be the best option available now, with a resale value of $21.75 cash ($22.84 in Amazon credit) per $25 gift card. I searched for all the available gift cards on Saturday and compared them to what Cardpool will pay. I prefer Cardpool, since I buy gift cards from them all the time, but for the top three, I checked CardCash as well, and the payouts were the same.

    MaxRabbit, I’m not sure how I found your post. I probably Googled something like “redeeming American Express Membership Rewards points”. Both CardCash and Cardpool will give you instant offers, without having to enter the gift card numbers, so you don’t have to wait a week to find out what your payoff will be.

    By the way, if anyone wants to try Cardpool, you can use my referral link:
    http://refer.cardpool.com/v2/share/5921719581607337988

  2. Staples offers the best rate as of today.

  3. Great post, but it appears that Dell and Tiffany gift cards are no longer available for redemption with Amex membership points, and the Home Depot resale value (from CardCash) has gone down to $44.625 Amazon credit per $50.

    Cardpool.com is an excellent buyer/seller of gift cards, which accepts Home Depot and Staples gift cards, both at $44.625 Amazon credit per $50.

    Does anyone maintain an updated list of these redemption options and their value? There may have been new gift card options added that aren’t on the excellent list above.

    • Thanks for commenting, Joel!

      I’m afraid I seem to be the only one that has posted anything of this sort. However, here’s something that I did that helped a lot: I contacted the gift card reseller, CardCash, and asked for their top-profit gift cards. It took a week, but they responded back with the current list. I checked for what ones out of those were available on American Express’s redemption options and cashed out the most profitable ones.

      The values have since changed, but I’m sure you could contact them for a fresh list!

      Also, would you mind sharing how you stumbled across this post? Thanks!

  4. Is this with Gift Cards or eGift Cards or both?


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