Over the past year or so we’ve seen some incredible opportunities to redeem a small number of points towards an Amazon purchase to score a heck of a deal. Another one of these promotions is back, and I’m even targeted even though I’ve taken advantage of a similar deal in the past… so hopefully others are as well.
Amazon Shop With Points
The catch is that it’s almost never a good deal, since the value they give you per point is extremely low. For example, here’s how much value you can get with certain points through Amazon, compared to what I value those points at:
- Amex Membership Rewards: 0.7 cents per point, though I value them at 1.7 cents
- Chase Ultimate Rewards: 0.8 cents per point, though I value them at 1.7 cents each
- Citi ThankYou: 0.8 cents per point, though I value them at 1.7 cents each
- Hilton Honors: 0.2 cents per point, though I value the points at 0.5 cents
The one time it can make sense to redeem points for Amazon purchases is when there’s a great promotion, as we’re seeing right now.
Redeem one Amex point to save 20% with Amazon
Amazon is offering 20% off when you use American Express Membership Rewards points to pay for at least part of your purchase. Note that it’s possible not everyone will be eligible — you’ll have to check at the registration link.
I figured I wouldn’t be eligible, given that I’ve taken advantage of similar offers in the past. Though much to my surprise I was eligible, and could activate the offer.
The maximum discount is $50, meaning this is valid for a purchase of up to $250 (or you can spread it across multiple purchases totaling up to $250). The promotion is valid through July 16, 2019, or until the offer has been redeemed for $5 million worth of discounts (that’s a lot), whichever comes first.
The process of taking advantage of this is easy:
- You first have to activate the offer by clicking the “Click to activate” button on this page (not everyone will be eligible, though hopefully many/most of you are)
- Then add eligible items to your shopping cart, which includes virtually anything that is sold and shipped by Amazon (this includes third party gift cards)
- At check-out use at least one Membership Rewards point for your purchase (and that’s exactly what I’d do — I recommend redeeming exactly one point)
For example, I added $250 in Starbucks gift cards to my cart. Since I have an Amex card earning Membership Rewards points linked to my account, I was asked to select how many points I wanted to redeem. I selected the equivalent of $0.01 worth of points, which is one Membership Rewards point.
As you’ll see, the $50 discount is reflected on the purchase page.
Make sure you don’t actually pay for your entire purchase with points, or else you’ll be getting a really bad deal.
In addition to being able to buy just about anything on Amazon, third party gift cards seem to be triggering the discount as well, so you can buy cards from popular companies like Starbucks, Uber, Southwest Airlines, Airbnb, Hotels.com, Whole Foods, and more. If you’d spend money with these companies anyway, you might as well score 20% off. Just make sure you see the discount reflected when you finalize the purchase.
20% off an Amazon purchase is basically like free money, given that they sell just about everything. Hopefully many of you can take advantage of this offer.
Is your Amazon account eligible for this offer, and do you plan on taking advantage of it?
(Tip of the hat to Deals We Like)