Don’t Forget About this Money Making Amex Offer at Sam’s Club!

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Awhile ago, Amex came out with an offer where you can receive up to a $250 statement credit at Sam’s Club. This offer can essentially allow to you “make” in MasterCard gift cards $235 per credit card, but it expires January 31, 2017. You can also purchase other merchant gift cards or your regular every stuff products at Sam’s Club. Read below for all the ways to maximize. Unfortunately though, this is a targeted offer, and on every family members account that I have access to, I only see it on the SPG Business credit card. With this offer, you’ll receive a 20% statement credit on your purchase up to $250. This is on a single transaction in-store where you must purchase at least $100 or more. To fully maximize this offer, you’ll want to make a $1,250 purchase during one swipe of your registered card. Although, many folks have reported that multiple swipes within the same day are triggering the statement credit. If you have this offer on multiple cards, make sure to read this post first and use the multiple browser trick


Here are the various ways to can maximize on this deal:

  • Purchase a MasterCard Gift Card: Sam’s Club stores sell MasterCard gift cards. While they do not sell at a discount off the normal price, you can still get the 20% statement credit. Remember though, purchasing these gift cards do carry a small fee. You’ll want to purchase the variable ones where you can select a denomination between $20-$500 that comes with a $4.94 fee. To fully maximize, purchase two $500 gift cards and one $235 gift card. After the 20% statement credit, you’ll ultimately be paying $999.85 for $1,235 worth of gift cards. You can then use the gift card as cash at any merchant that accepts MasterCards. Most Sam’s Club will only let you ring up one gift card at a time, but many readers have reported that multiple transactions the same day will trigger the statement credit. I actually have not tried it yet, will be doing it in a few days so will report back. This will earn you $235 in essentially free money since MasterCards can be used just like a credit card!


  • Purchase another merchants Gift Card at a discount: Sam’s Club (similar to Costco and BJ’s) sells gift cards to many other merchants at a discount. For example, Disney, Southwest Airlines, restaurant gift cads, etc.
    • Disney: Sam’s Club sells $500 Disney gift cards for $474.98 and $150 Disney gift cards for $142.98. Purchase two $500 gift cards and two $150 gift cards and that will cost you $1,235.92. Using your registered American Express gift card will give you a 20% statement credit of $247.18. This ultimately means you are purchasing $1,300 worth of Disney gift cards for $988.73! These Disney gift cards can be used on Disney tickets, Disney cruises, and anything else at a Disney park!
    • Southwest Airlines: Sam’s Club sells $150 Southwest gift cards for $142.98. Purchase 8 of these for $1,143.84. Using your registered American Express gift card will give you a 20% statement credit of $228.76. This ultimately means you are purchasing $1,200 worth of Southwest gift cards for $915.07!
    • Many other gift cards! There are a slew of gift cards, such as California Pizza Kitchen, Coldstone Creamery, Regal Cinemas, etc. that are always 20% off. So a $50 gift card costs $39.98. Purchase 31 of these gift cards for a total of $1,239.38. Using your registered American Express gift card will give you a 20% statement credit of $247.87. This means you are purchasing $1,550 of the desired gift card for only $991.51. This is by far the best deal IF there are gift cards that you’d typically use anyways!
  • Purchase Sam’s Club gift cards. Purchase $1,250 worth of Sam’s Club gift cards for $1,000. You can then use during multiple future shopping trip to Sam’s Club. They can also be used at Walmart if you prefer.

While the already discounted gift card options have the highest percentage off after all is said and done, if you’d prefer a more flexible option, go with the MasterCard gift card option. Unfortunately, there are not many Sam’s Clubs throughout the country. The closest one to me is about an hour away (Massachusetts only has 1 Sam’s Club location!), but the drive is well worth it since I was able to take advantage 4 times (between me, my husband, my sister, and my mom’s registered Amex cards). 

I highly suggest taking advantage of this offer. This is a great way to save a ton of money! To learn more about these American Express offers, read this Amex Offers series:

Make sure to check out all of the current Amex Offers available on this permanent page on the blog.

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