Best American Express Membership Reward Redemption: Cash Via Gap Gift Cards?

(Update: That was quick, looks like they are sold out. Perhaps they will replenish later.)

If you have some American Express Membership Rewards points lying around, perhaps from the American Express Platinum or the AmEx Rewards Premier Gold, then is for you. Reader David reports that right now you can get a $25 Gap gift card for 1,250 points when you redeem by January 29, 2012, which is 50% less than the normal exchange rate for gift cards ($25 = 2500 points). Supplies are limited.

Even if you don’t like Gap clothes, PlasticJungle.com and others from my gift card sellback website comparison will give you up to $83 for a $100 Gap gift card. That works out to a value of 1.66 cents per point (10,000 points = $166), which is much better than any other direct cash-out option, although some people may be able to get better value by redeeming airline miles for award flights.

Comments

  1. By the way, you can use Gap gift cards at all affiliated stores like Old Navy, Banana Republic, and outlet stores:

    “The Gap GiftCard (“Card”) is issued by Direct Consumer Services, LLC, a California limited liability company, and may be redeemed for merchandise at any Gap brand, Old Navy, Banana Republic or Athleta location, including Outlet and Factory stores. The Card may also be redeemed for merchandise at gap.com, oldnavy.com, bananarepublic.com, piperlime.com or athleta.com.”

  2. Excellent- thanks! I just redeemed 2500 points. I logged in regularly through my AMEX page & it didn’t show that special (it showed regular price), but clicking on that link took me to the 50% off cards. I’ve had point sitting there for years & never used them.

  3. “We’re sorry. This Specials reward is no longer available”

  4. Not sure how long this lasted, but it died quickly and this topic should be revised as such (or probably just deleted).

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