[Expired] [YMMV] American Express: 20%-30% Discount When Redeeming Points For Giftcards

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The Offer

• American Express is offering some Membership Rewards earning cardholders 20% off some gift cards when redeeming Membership Rewards points. Update some people are seeing a bigger discount of 30%.
  • 1¢ per point (now 1.25¢ per point): Athleta, Banana Rep, Brooks Bros, Carnival, Pottery Barn, Ralph Laur, Ruth Chris, Sak 5th, Victoria’s Sec, & West Elm
  • 0.7¢ per point (now 0.875¢ per point): Walmart, Target,

The Fine Print

• Valid until December 21st, 2017.
• Not all cardholders are displaying the discount

Our Verdict

Unfortunately all the desirable gift cards are the ones that you get less than 1¢ per point. Given you can cash out American Express memebrship points via Charles Schwab for 1.25¢ I can’t see a whole lot of use for this promotion but it might be helpful to some.

Thanks to readers @washingtonwong8 & @hareshk4