Two Promotions to Make Money with American Express Gift Cards!

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There are two promotions going on simultaneously:

  1. TopCashBack.com is again offering 2.25% cash back on American Express Business gift cards, and
  2. There is an Amex Offer where you’ll get $10 cash back on a $200+ American Express gift card purchase with your registered American Express credit card

While the TopCashBack.com promotion is TODAY ONLY, the Amex Offer goes through July 31, 2015. While I believe the Amex Offers cash back will work when going through TopCashBack.com first, I have not yet tried it myself to 100% confirm.

Promotion #1: You can purchase American Express Business gift cards through their online shopping portal and get 2.25% cash back. This is for Amex Business gift cards, not the Consumer gift cards. You can learn more about maximizing the gift card purchase in this prior blog post. With this offer, gift cards over $2,000 are NOT eligible for cash back. With that being said, you are able to purchase multiple $2,000 gift cards in one transaction.The downside with this is that there is a $3.95 fee per gift card regardless if is is for $$100, $1,000, or $2,000 (or any other denomination). This offer is good for those that like to participate in manufacture spend. You can learn more about maximizing this offer from this prior blog post detailing out the same deal. Also, to see a complete guide of purchasing Amex gift cards through a Cash Back portal and some other ideas on how to unload them (if you do not have Target REDCard and looking for other alternatives), make sure to check out Frequent Miler’s complete guide.

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Promotion #2: Sign into your American Express account and register for the”American Express Gift Card” offer. This can be found in the “Offers For You” tab. Only targeted accounts are eligible for this promotion, but if you have multiple cards eligible, you can register using the double browser trick. Make sure to read the blog post first before registering your first card. With this offer you’ll receive a $10 statement credit with a $200+ gift card purchase. The terms do not state whether or not  it needs to be a personal or business gift card, so both should work. It only states that it excludes logo gift cards and gift cheques.

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If you were to purchase a $200 gift card through TopCashBack, you’ll pay $3.95 for the gift card plus an $8.95 shipping fee. So while you’ll receive $10 cash back and 2.2%  cash back, you’ll still be paying $12.90 on top of the $200 gift card amount. For this small amount, you are better off not going through TCB and instead using the free shipping code FSMOM to avoid the $8.95 shipping fee. However, TopCashBack will not give you cash back if you use a promotional code, which is fine in this scenario. Now, if you want to go all out and purchase $6,000 in gift cards, for instance, the $10 cash back will almost cover the $3.95 fee you are paying per card (3 cards at $2,000 each which means three $3.95 fee for a total of almost $12). On the $6,000 purchase, for instance, you’ll pay the $8.95 shipping fee, but will earn $132 cash back from TopCashBack.com! You’ll also earn credit card points on your purchase!

Some things to know when purchasing gift cards:

  • Do not use a promotion code or else you will not receive the cash back from TopCashBack.com. You will be charged $3.95 per gift card regardless if you purchase a $25 or $1,000 card.
  • Denominations over $2,000 are not eligible for cash back from TopCashBack.com
  • Do not use a Citibank  or Discover credit card, you will most likely get charged a cash advance fee
  • eGift Card from American Express® is not eligible for cash back.
  • You will be charged a shipping fee of $8.95 regardless of the number of gift cards you purchase.
  • There is a $10,000 limit on Consumer Gift Cards and $100,000 limit on Business Gift Cards per 14 days.

Let me know if you have any questions!

 

Comments

  1. I was under the impression that Amex didn’t give cc points (MRs, Starwood points, etc.) on the purchase of Amex Gift Cards. Is that not true?

  2. “While I believe the Amex Offers cash back will work when going through TopCashBack.com first, I have not yet tried it myself to 100% confirm.”

    I can confirm that it works. I placed my order via TCB and almost immediately received an email from Amex thanking me for using my Amex offer (of $10 back for purchase of GC > $200).

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