Contents
The Offer
Direct Link to offer (login required)
- American Express is offering select users a 15% discount on Home Depot gift cards redeemed with Membership Rewards points.
Available in any denomination from $25 to $1,000. Available for both physical and digital gift card redemptions.
Our Verdict
Some people value Membership Rewards points at well over 1 cent-per-point and won’t find this deal interesting. Yet there aren’t many easy ‘cashout’ options with MR points at a decent rate. This deal gives you around 1.17 cents per point in Home Depot gift cards currency which many will value more than the baseline 1 CCP.
Hat tip to readers Julian and JJ
Will AMEX have another gift card promotion for Home Depot cards this year in 2022? I wasn’t targeted for the first one
Will AMEX have another gift card promotion for HD cards this year?
Jesus Christ! First, Amex screws up amex offers rebate, and now the link they sent me to access this gift card returns an http error.
missed it, dang
It’s worth noting that HD gift cards are already available at 5-10% off, and that you can only sell them for about 81-88% of their value right now depending on the marketplace. If you’re not going to sell and just plan to use them later in the future, factor in inflation as well – add a couple percentage points for that. Knock off a bit for the pain of selling gift cards and I think 0.88x cash value is fair. The original 1.176 cpp then becomes 1.034 cpp, which is IMO not the greatest, obviously beatable with Schwab and way easier to beat with various airline redemptions.
Where you can regularly get 5-10% off? Or are you talking about second hand/resold gift cards? Or the deals that occasionally come up? I usually max those 10% type deals whenever they come. There’s a PPDG one right now. But I can usually use more.
> factor in inflation as well
To be fair, inflation is also eating away at the value everything else you could redeem MR points as well, so that’s pretty much a wash unless you’re going to spend them on something else right now.
Pretty sure this is dead. Was on both mine and my wife’s account yesterday, now neither.
Luckily I jumped and cashed out for $3K in HD GCs. Wife’s account had all cards up for pricy AF renewals, and lame retention offers, so I was just looking for the exits for her MR balance. Glad I jumped instead of hesitating, came at just the right time.
Hopefully they discount other GCs — don’t need HD
This was the only one that was featured with the special “OFFER” banner when it was up yesterday.
saw this the other day. Very very tempted, since I don’t have schwab plat
Targeted for me, thank you!
I had it on on both players and this morning it disappeared from both of them. I was planning to redeem a ton today. A nice going, me!
The offer also disappeared for me!