Recently, the rate of cash back for the purchase of American Express Gift Cards got lower. (see details here) But now I found it worse than ever. In the last few months, the cash back rate for AmEx GCs were between 2% and 3%. Last night, before buying AmEx GC, I went to cashbackmonitor.com to see which portal offer the best rate. As you see, 2.1% from Befrugal was the best. I was hoping for a better rate, but there was no choice. The amount of the previous AmEx GC was nearly zero. And although 2.1% was not really great deal, but I could still save money with it.
However, there was a problem. I couldn’t find a page of AmEx GCs at Befrugal.com. Then I went to TopCashBack, that offers 2.0% (according to cashbackmonitor). Same here, there was no page or link at TopCashBack. I checked some other portals. I didn’t check all of them, but I could manage to find a few portals that offered cash back, Simply Best Coupons, Ebates, and Mr. Rebates. The rate was merely 1%. The only consolation was that Simply Best Coupons had a promo code to waive a purchase fee of $3.95.
In July and August, I purchased four AmEx GCs with a promo code which is not posted on the portal site. As a result, all pending cash back ($175.50 in total) was cancelled. (see details here)
Today, I checked cashbackmonitor. As you see, all travel reward portals have gone, and there are only seven cash back portals. 1% is the highest, and promo code to waive a purchase fee can be found ONLY at Simply Best Coupons.
Is 1% cash back still worthwhile? It depends on face value of AmEx GC you buy. Say you buy $1000 AmEx GC with AmEx Blue Cash credit card. You can waive a purchase fee of $3.95 at Simply Best Coupons.
- Purchase fee $0
- Shipping -$8.95
- 1% cash back from credit card +$10.09
- 1% cash back from portal +$10.00
- Total profit is $11.14
The profit is only 1.11% of $1000. This isn’t great. However, if you buy $5000 AmEx GC, total profit is $91.14. It’s 1.82% of $5000. Not bad. If you enroll in Premium Shipping Plan (see details here), shipping cost may be calculated less. So, you can manage to get close to 2% discount.
Just a few months ago, I had already enrolled in Premium Shipping Plan. I usually order 3 or 4 AmEx GCs per month. So, shipping cost is calculated less than $3 each order. After considering all of these calculations, I placed an order of $2000 AmEx GC. Simply Best Coupons already posted a pending cash back.
I hope Befrugal or TopCashBack offer cash back for AmEx GCs again, but for now Simply Best Coupons with a promo code is the best option for purchasing American Express Gift Cards. Click here to visit Simply Best Coupons and don’t forget to use promo code when you purchase AmEx GCs.