Possible Gift Card Churning With AMEX Offers

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American Express is really impressive lately with all the AMEX offers lately.  If you don’t know about AMEX offers, all you have to do is log into your AMEX online account and go under the “Offers For You” tab to see all the promotions going on.  You then have an option to add offers to your AMEX card.  Some of these offers are not that great, while some retailers are offering big discounts.  One trick is to buy gift cards at these retailers for the exact amount to earn the statement credit.  You could possibly sell these gift cards at a profit, which makes a situation of possible gift card churning with AMEX offers.

Right now there is a deal at Neiman Marcus for $50 off a purchase of $200.  The trick is to buy a $200 Neiman Marcus gift card and sell back online. Unfortunately, you will have to pay $10 in delivery charge online.  Here are the basic steps:

  1. Load the $50 off $200 purchase at Neiman Marcus on your account. neiman-marcus-giftcard

    AMEX Offers

    AMEX Offers

  2. Buy a physical or e-gc $200 Neiman Marcus gift card online.
  3. Sell $200 Neiman Marcus gift card on Cardpool for 85% value.

    Sell GC for 85% Value

    Sell GC for 85% Value

  4. Click through TopCashBack to get an extra 4% cashback before entering Cardpool.
  5. Earn at least $10 (without Topcashback) and credit card spend.  You will get $170 for physical gc on Cardpool or $160 for electronic.  However the physical gc has a $10 delivery fee.  Both methods turn out to be the same.

The above method may take some work, but if you are already at the mall for some reason it might not be too much effort to pick up one of these gift cards and sell it on Cardpool.  From my experience (despite some minor setbacks), Cardpool is reputable and pays you in a reasonable amount of time.

You can repeat this on all your AMEX cards by using some methods about adding offers to multiple AMEX cards talked about in FrequentMiler’s post here.  Happy gift card churning all!

13 comments for “Possible Gift Card Churning With AMEX Offers

  1. Chris
    December 5, 2013 at 9:30 am

    Thanks for the info and heads-up! The fine print on the AMEX offer says that it’s only good for online purchases. Have you tried and succeeded with the in-store process before?

    “Valid online only at Neimanmarcus.com. Offer is non-transferable. In store transactions and outlet locations are excluded.”

    • December 5, 2013 at 12:20 pm

      Thanks, I fixed the post. The info should be correct… not the most lucrative promo but may be worth it.

  2. terrence
    December 5, 2013 at 11:29 pm

    I was planning on trying to do multiple credit card applications soon and was wondering if you thought there was a maximum you should do at one time? there were six different cards i wanted to apply to and one of them is from a credit union. How long do you think i should wait to apply for more cards after this first round. I only have two credit cards right now and good credit and no debt. My goal is to get two high limit cards that have at least $5000 Credit limit and at least some mile or cashback perks.

    • December 6, 2013 at 7:28 am

      I think 2 or 3 is fine at a time. I only do about 2 now every 3 months because I have about 20 active cards. You should be fine doing 3 every 3 months because of your good credit, no debt, and new to credit cards. Let me know if you need help. Thanks for your support!

  3. December 6, 2013 at 8:48 am

    Good deal Rom, thanks for sharing.

  4. JJC
    December 8, 2013 at 6:58 pm

    Just made a quick and easy $18 (I opted for Cardpool’s $168 Amazon gift card for my Neiman Marcus $200 e-card) and at least 150 Amex points. Thanks, Rom!

    • December 8, 2013 at 9:35 pm

      That’s pretty good for not too much trouble!

      • Josh
        December 13, 2013 at 4:09 pm

        Plus, just got the email that I got 1,000 United Miles for using the Mileage Plus portal @ 5pts / $1 at Neiman Marcus!

        • December 13, 2013 at 5:58 pm

          That’s awesome that you got points for the gc purchase

  5. Gaurav
    December 26, 2013 at 12:01 pm

    Wondering if it is worthwhile to do this to max out chase freedom for this quarter. I haven’t been able to and it is annoying me. UR marketplace is offering 7pts per dollar so that would mean 1750 UR, 250 AmEx points in whatever flavor card I use, and the profit from the card sale itself. Not sure how much cash back I can get from topcashback since I used that to liquidate Marriott cards last year.

    • Gaurav
      December 26, 2013 at 3:56 pm

      Please ignore this, I think I must have been on drugs. Buying with chase freedom would net 7+5 = 12UR/dollar so 2400 for $200 gift card. At a cost of $42 at a cost of 1.75c/UR without cashback. Probably not the most profitable purchase…

    • December 27, 2013 at 12:36 pm

      I wouldn’t go out of my way to max it out. There’s always ink bold for 5X on amazon and gas.

      • Gaurav
        December 30, 2013 at 12:15 am

        True. Just seems like a shame not to be able to pick up a few extra thousand UR :)

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