Update 11/25/2024: $27.50 Starbucks, $110 Lego and $57.50 Happy Holidays/Happy Moments/Seasons Greetings One4All swap e-gift cards added to the promo, while some brands were removed or appear sold out now.
American Express is offering a discount on redeeming Membership Rewards points for select gift cards to some card holders (you must be logged on to see it – the promotion is targeted, and different people see different brands included).
Generally, it is not a great deal, as their points are far more valuable when transferred to airline partners or used for booking flights via AmexTravel (if you have a Business Platinum card offering 35% rebate in points). However, if you have some “orphaned” points with no better use for them – or if your accounts have been shut down and you hadn’t linked any partner accounts for transfers prior to that – gift card redemption may be your best option now.
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