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Earlier today I wrote about a new Amex Offer where you can receive a $10 statement credit when you spend $50 or more at Walmart.com. This is a great offer for those looking to make a purchase at Walmart, but if you have no desire to shop at this store within the next two weeks, you can still take advantage of even make a profit on this offer!
Three Ways To Make Money:
- Purchase a Walmart Gift Card. Walmart.com sells gift cards to their own store, so purchasing a $50 gift card means that you are really only paying $40 after the statement credit goes through (usually within a week after your purchase). Through Gift Card Granny, it looks like you can currently sell that $50 gift card for $44 (through ABC Gift Cards). Or, you can exchange it for a different stores gift card and get a slightly higher value. Ultimately, you will make at least $4 PER registered American Express. Not a huge money maker, but it is still something.
- Purchase an American Express Card. Walmart.com also sells Amex/MasterCard/Visa gift cards. All gift card options come with a fee tacked on (which is normal), but the MasterCard $50 gift card has the lowest fee. If you prefer Visa, it is just an extra 40 cents. So while you are paying $53.48 for a $50 gift card, it will trigger the $10 statement credit. This means that ultimately you are paying $43.48. Ultimately, you are getting $6.52 for free on your prepaid gift card.
- Purchase another merchants gift card. Walmart.com also sells a ton of other merchant gift cards. Some examples include: Cheesecake Factory, Southwest, Uber, Outback, iTunes, etc. While purchasing another merchants gift card is not a money maker, per se, it still means you are purchasing a more desirable gift card that you’ll use at 20% off.
If you are not looking to take advantage of this offer as an actual money maker, but to instead purchase items at Walmart.com, make sure to go through an online shopping portal first. While they do not pay out for gift card purchases, they do pay out for regular items purchased through the store. Right now it seems like TopCashBack and Swagbucks have the best payouts. TopCashBack is offering 7% cash back and Swagbucks is giving out 6SB per dollar spent, which ultimately is like getting 6% cash back (or more) towards a gift card of your choice.
Risk #1: There was a similar offer a few months ago with Neiman Marcus that didn’t end so well. There is risk here with purchasing a gift card and then not being able to re-sell them for the price you think you’ll be able to get. The fact that you can purchase a physical gift card makes it easier to sell. With this particular offer, I wouldn’t be concerned.
Risk #2: Walmart.com is a pain in the you know what when it comes to purchasing gift cards online. They had a similar offer a few years back and all my gift card purchases were canceled that day. It required me to call Walmart and re-confirm all of my billing information to allow the gift cards to ultimately go through. It ended up being find, but just took some extra time.
Ultimately, this is a great Amex Offer, but I am personally not going to take advantage of purchasing gift cards to make some money. While you can definitely profit, it is so minimal and purchasing gift cards with Walmart is a hassle. Not worth my time right now. But I will definitely use this offer if I end up purchasing anything from Walmart!
To learn more about these American Express offers, read this Amex Offers series:
- Overview and FAQs for Amex Offers
- Registering for Amex Offers with your AmericanExpress.com Account
- Registering for Amex Offers with Twitter
- Simplify your Life… Register for Twitter Amex Offers with Tweet Deck
- Maximizing Amex Offers by Purchasing Gift Cards
- Eligible Credit Cards to Take Advantage of Amex Offers
Make sure to check out all of the current Amex Offers available on this permanent page on the blog.