Editor’s note: This is a recurring post, regularly updated with new information and offers.
Whether you are getting household staples or getting ready for Amazon Prime Day, there are many ways to save on Amazon orders. One of the ways to save a lot very quickly comes courtesy of an offer that involves American Express and Amazon.
Targeted Amex cardholders can save money when redeeming Membership Rewards points to cover at least part of an eligible Amazon purchase. Typically, using Amex Membership Rewards points for Amazon isn’t great, as the return per point is below the rate for travel redemptions.
However, when using points can save as much as 50% on an Amazon purchase with as few as 1 Amex point being cashed in, such as with some current targeted offers; it’s a fantastic deal.
To potentially get in on this offer, you’ll need a card that earns Membership Rewards points, such as The Platinum Card® from American Express, American Express® Gold Card and American Express® Green Card.
This time around, I was only targeted for an offer that saves 15% up to $15 (and you have to use $5 worth of points to activate the deal), but to show how lucrative this can be at the higher savings levels, here’s how a 40% offer dropped the price of a four-pack of AirTags to $47.99 in the past
Offers available when using Membership Rewards points to pay on Amazon
Unfortunately, these are targeted, so everyone won’t receive the same offer. But some different offers we’ve seen this week include:
- Save 15%, up to $15, when using at least 714 points (that’s $5 worth).
- Save 50%, up to $80, using as few as 1 point.
Check your eligibility for the promotion by clicking here.
For products to be eligible for the discount, they must be sold by Amazon. Third-party listings won’t trigger any savings, but you may be able to take advantage of this deal by stocking up on dining or retailer gift cards. Gift cards for companies like Whole Foods, Uber Eats and Nordstrom may be eligible.
Sign up for our daily newsletter
On my account with the 15% offer, the terms indicate that it will end on July 13, 2023, or once the maximum use of 21,477 orders has been reached.
Related: The best credit cards for Amazon purchases
How to save up to 50% by redeeming 1 Amex point
Here are the steps for turning just 1 Amex Membership Rewards point into serious Amazon savings:
- Check to see if you have a targeted offer.
- Activate the offer in your Amazon account.
- Load your shopping cart with eligible items sold by Amazon, not by third parties (most gift cards historically have counted).
- Make sure to only use 1 point at checkout, as shown below, to avoid losing value by covering the entire purchase with points. You’ll need to use an American Express card that earns Membership Rewards as your payment method.
Assuming everything worked, you should see the offer reflected during checkout.
You’ll need to cover the rest of your transaction using an Amex card, though you can also apply an Amazon gift card balance if there’s one attached to your account.
Other offers may be available
You might find similar offers with other rewards programs. For example, we’ve seen offers for 40% off (up to $20 maximum) when using Discover Rewards on select Amazon purchases.
Additional past offers allowed targeted customers to use 1 Citi ThankYou point for up to 50% off, 1 Capital One mile for up to $20 off and 100 Chase Ultimate Rewards points for up to 50% off.
You can sometimes find targeted offers on Amazon product pages, right underneath the item’s price, so just keep your eyes open as your are browsing and ‘adding to card’.
Stay tuned to TPG as we cover the best travel-related deals in the lead-up to Prime Day, which is happening on July 11 – 12, 2023.
Additional reporting by Ryan Smith, Andrew Kunesh and Kyle Olsen.