The easiest way to cash American Express point in for cash is to purchase a $50 gift American Express gift card for 10,000 points. However, that puts a value on every point used at half a cent when in order to maximize your points you should always get a least 1 cent for every point used. So if you’re purchasing that $50 gift card you do not want to use more than 5,000 points. If you’re looking to maximize your points for cash here is way to turn those points into a value greater than 1 cent per point.
1. Go To Membership Rewards
2. Click on “Use Points”
3. Click on “Specials” *
4. Search for Specials offering 20% off points for Gift Cards
5. Purchase Gift Cards with 20% discount
6. Sell gift cards on ebay for approximately 90% to 98% of the value of the gift card
Example: There is a 20% off points offer for Home Depot gift cards. Use 80,000 points to purchase $1,000 in Home Depot gift cards. Sell gift cards on eBay for $950. That puts a value on each point at 1.2 cents. Conversely, if you were to use the same 80,0000 points to purchase American Express gift cards you would wind up with $400 in Amex gift cards.
*Specials are unique to every card holder, the offers vary and 20% gift card specials are not always available.
**Always review sites Terms & Conditions to ensure if reselling gift cards is allowed.