Posted by Chuck on June 5, 2019
Credit Cards

Published on June 5th, 2019 | by Chuck


[Expired] [YMMV] Amex Membership Rewards: Redeem Select Giftcards at 20% Discount (Home Depot, Gap)

Deal has expired, view more American Express deals by clicking here.

The Offer

  • American Express Membership Rewards is offering select gift cards at a 20% discounted redemption rate:
    • Home Depot gift cards in denominations of $25, $35, $50, $100, $500, $1,000 at 20% off (e.g. $100 for 8,000 points)
    • Walmart gift cards at 20% off (e.g. $100 for 8,000 points)
    • Gap gift cards in denominations of $10, $25, $50, $100 at 20% off (e.g. $100 for 8,000 points)

iTunes gift cards are also 20% off, but that’s off the original price – after the discount it lands up just under 1 cent-per-point value, not 20% better.

The Fine Print

  • Valid between 6/3/19 and 7/31/19.

Our Verdict

I don’t see this deal in my login, but it appears to be working for many Slickdeals members. Home Depot at 20% off is a pretty good deal for someone who values that as cash. A lot of people will find better value from mileage transfers or even from cashing out via Schwab at 1.25 cents per point.

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I see Walmart and Home Depot on sale. Awesome! I have 50,000 points to use.


Awesome, just redeemed it for father in law who had 8,000 MR leftover that he had no use for. Received the gift card immediately

Stores included are iTunes, CB2, Gap, Home Depot, Walmart and Williams-Sonoma.


$25 Walmart
now 2,858 points
was 3,572 points

$50 Walmart
now 5,714 points
was 7,143 points

$100 Walmart
now 11,429 points
was 14,286 points

Matt P
Matt P

Home depot 8000 pts for $100 is exactly 1.25 cpp, so if you plan to spend there it’s just as good Schwab and really good if you don’t have Schwab.


Not exactly true, since you’d earn CC rewards on the $100 you spent at HD, but it’s also something you could do now instead of waiting for Schwab. There’s value in certainty.


Cash at 1.25 cpp is still better, since you can buy Home Depot GCs at a discount elsewhere, and/or earn CC rewards when using your CC at Home Depot or when buying the GCs.


Chuck I redeemed 75000 Points for 937$ Home Depot card and Got Amazon Card worth 800$ from sweet !

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