[Targeted] American Express Membership Rewards 20% Discount On Select Giftcard Redemptions (Apple, Gap, Saks, Delta, Panera & More)

The Offer

Check your American Express Membership Rewards account for the following deal:

• Get a 20% discount on select gift card redemptions. Brands include:
  • Apple
  • Panera Bread
  • Delta
  • Athleta
  • Gap
  • Saks
  • Bath & Body Works
  • 1800flowers
  • California Pizza Kitchen
  • Under Armour
  • Ruth’s Chris Steakhouse

Our Verdict

This offer might be showing for everyone. Targeted offer. On many brands, the typical redemption rate is 1:1 and now you get 1.25 cents per 100 points. With Apple and Delta gift cards the typical redemption rate is less than 1 cent per point, and now – with the discount – the rate is slightly better than 1 cent per point (something like 1.05 for Apple and .90 for Delta).

I can see people who don’t travel a lot or who have too many MR points finding this deal useful.

Hat tip to reader T