Amex Gift Cards 2% Cashback + 5x With NBA Credit Card on June 5th

The Offer

Direct Link (currently only 1.5%)

  • Simply Best Coupons will be offering 2% cashback on American Express Business gift cards on June 5, 2015.

Where it get even more interesting is that NBA finals are coming up and the NBA Compass card from BBVA offers 5x rewards on all purchases during that time period. This means that you can actually get 7x when combining the two.

m4m twitter

The Fine Print

  • One-day only, June 5th.
  • Business gift cards only.
  • Don’t purchase denominations of more than $2,000 as that negates cashback.
  • Don’t use a promo code as that negates cashback.
  • Max order of Amex business gift cards is $100,000 per 14 days. If you’re asked for a TaxID Number (on large orders they sometimes do that), you can use your SSN instead.
  • No need to use a Business credit card to buy Amex gift cards.

Our Verdict

The 2% comes and goes from various portals. We’ve even seen it go up slightly higher at 2.25% recently.

Besides the standard interest in the 2% rate, this deal is particularly interesting for NBA cardholders. Instead of hitting up every CVS (or whatever) in your 100-mile radius during the small period of time in which you get 5x, you can buy an AGC and spend it down at CVS over time.

If you order, say, $10,000 in Amex gift cards on June 5th (or possibly a different day if other offers come from other portals during the NBA finals week), then you’d be getting $700 back combined from the portal and from NBA. If you can unload those with $100 in fees, you’ll end up with $600 profit. This really is an awesome deal.

If you don’t have the NBA card, you can use an Amex credit card and get $10 off a purchase of $200 or more via Amex Offer.

.1% Bonus

In the past, Simply Best has offered an added bonus for those who make more than $20,000 in purchases. We don’t know if such a promo will be running this time as well.

Caveats

Two things to be aware of:

  • We don’t know what BBVAs tolerance level is for manufactured spend. That said, it could be that buying one large order of Amex gift cards looks less ‘suspicious’ than multiple smaller purchases.
  • We still need to clarify that there’s no cash advance issue with BBVA on Amex gift cards. FrequentMiler reports that most – but not all – issuers are safe. (We recently noted that Citi credit cards may now be okay as well.) Setting your cash advance limit to zero would take care of this issue. Also, if you’re cash advance limit is less than the purchase amount then you should probably be safe.
  • UPDATE: A couple of readers mention a limit of $5k per day (or possibly it’s really per transaction) on the NBA card. This would mean that you can’t make a huge Amex gift card purchase. We don’t know if it’s true, but we’re mentioning it anyway.

If you’re new to the Simply Best Coupons portal, consider using my referral link when signing up. You’ll get the standard $5 signup bonus and I’ll get 20% of the cashback you earn, up to $50. (Note the signup bonus threshold can not be triggered with an Amex gift card purchase, so you’d have to use the portal for other purchases in order to get that $5 bonus as there is a $15 minimum payout amount.)

Hat tip and thanks to Miles4More on Twitter for bringing this offer to our attention.

Also thanks to FrequentMiler’s awesome guide  on Amex gift cards for some of the info in this post.

Gosh, I’m thinking of applying for this NBA card right now…if only the card was instant-issue. The card is now available with no annual fee and $100 signup bonus.

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28 Comments
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Jason
Jason (@guest_129611)
June 5, 2015 22:32

I tried to purchase $10k worth. BBVA declined. I called them as I have a $19k CL. They said their cards have a daily purchase limit that is lower than your credit limit. Anyone else? She said they waive it over the phone to the merchant directly.

Jason
Jason (@guest_128988)
June 4, 2015 20:04

Do we have a rewards chart from them to show what 10,000 BBVA pts is worth? $100 stmt credit? $100 gift cards – to which stores? Etc…

Thanks!

William Charles
Admin
June 5, 2015 06:30

10,000 = $100 statement credit, read the full review for the page with all the redemption options.

Dan
Dan (@guest_128478)
June 3, 2015 20:27

Instant approval for $21,000 credit limit. Thanks for heads up!

HanksTravel
HanksTravel (@guest_128093)
June 2, 2015 22:44

Fwiw, was doing the wifey’s AOR last night and threw in the BBVA NBA as the last card. Instantly approved for $30k limit. So I too applied and was instantly approved for $30k as well. I had my AOR a month ago.

Just hope another AGC deal comes around soon.

stvr
stvr (@guest_128001)
June 2, 2015 19:56

I’m amused that Simply Best Coupons pointed out the 7% angle.

Dan
Dan (@guest_128094)
June 2, 2015 22:50

Haha yes. That is pretty surprising. Guess they are one of us!

William Charles
Admin
June 2, 2015 23:33

They are making 0.25% or so on this deal, so the more volume the better for them.

W D
W D (@guest_127953)
June 2, 2015 18:10

You should apply for it, 5% general spend (for everything you can prepay) plus $100 and dodging their annual fee is riduculous..I also got 6 months 0% apr.

Ben
Ben (@guest_128051)
June 2, 2015 21:02

I think you should still go for it this season. The card comes pretty quick- I applied Wednesday, had to do a quick phone call to them for ID verification (I don’t know why) and so didn’t get the approval (which I was notified of by email) until Thursday, and had the card in hand by Monday. That means if you apply now, you should still have it for most of the NBA Finals, which is 2 weeks.
One thing we will need to figure out is the exact time the 5x promotion lasts. For example- does it start only AFTER Game 1 starts on June 4, meaning basically June 5, or is it the whole day of June 4? More importantly- what happens if the NBA Finals ends early, after 4 or 5 games? Does that mean the 5x promotion ends, or does it go until June 19 regardless? I called and asked them these questions, and got absolutely nowhere even after escalating to 2 supervisors…

Dave Lu
Dave Lu (@guest_128124)
June 3, 2015 01:00

You should still get it now Chuck. You get the annual fee waived for life if you apply right now.

Dave Lu
Dave Lu (@guest_128431)
June 3, 2015 18:29

Nice! Congrats and welcome to the party! 🙂

mike
mike (@guest_127942)
June 2, 2015 17:53

How can we liquidate the AGCs..?

Vic
Vic (@guest_127959)
June 2, 2015 18:21

I’m wondering too.
Please enlighten me.

mike
mike (@guest_128003)
June 2, 2015 19:58

AGC= amex gift cards right? How can I liquidate these? thanks chuck!

Vic
Vic (@guest_128160)
June 3, 2015 02:57

As we all know not all CVS take CC when buying gift cards, is this also a problem purchasing using AGC?

Miles
Miles (@guest_129595)
June 5, 2015 21:49

VGC = Vanilla GC? Where can you purchase them with an AGC?

Dave Lu
Dave Lu (@guest_127933)
June 2, 2015 17:40

Chuck, have you used Simply Best coupons before? Are they legit and do they pay out? do they have any card amount limit? Many cashback websites won’t pay out for AGC > $2K. Thanks

MrWho
MrWho (@guest_127919)
June 2, 2015 17:23

I heard that AMEX will check if a buyer of the AMEX GCs has a real business after some orders. Is this true or some are trying to manipulate others to think that this is not something to mess with?