AmEx rewards no longer redeemable for gift cards?

Cashbackjunky · ‎06-17-2021

Sorry if this has been talked about. I searched but couldn't find anything.

I logged into my BCP rewards account and saw this message:

Is anyone else seeing this? Or is it just my account?

Cheers!

837

INQ:
2

836

INQ:
3

825

INQ:
2

TCL: $571.05k CCs:23 AAoA: 6yr 1mo Util: ~1% Derog: 0

Mortgage: $215.1k Sonata Lease: $1.3k Palisade: $23.8k

Titans84 · ‎06-17-2021

I see the same message.

Current FICO 8:

US Bank Cash+ (PC from Perks+) | 05/2007 | $10,000

AMEX Blue Cash Preferred (PC from Blue) | 09/2008 | $25,000

US Bank Cash+ (PC from Platinum) | 12/2014 | $20,000

Goldman Sachs' Apple Card | 08/2019 | $26,000

Chase Freedom Unlimited | 09/2019 | $16,000

Elan Max Cash Preferred | 05/2021 | $25,000

FNBO Evergreen Rewards | 07/2021 | $25,000

Affinity FCU Cash Rewards | 04/2022 | $32,500

US Bank Altitude Reserve | 09/2023 | $15,000

babygirl1256 · ‎06-17-2021

I received the same message -and- I immediately redeemed my Reward Dollars and will redeem monthly hereafter (once the $25.00 minimum is satisfied).

Starting FICO 8 Score in 06/2019: EQ-625, TU-649, EX-640
Current FICO 8 Score in 06/2021: EQ-796, TU-806, EX-812
Goal FICO 8 Score in 06/2022: EQ-825, TU-850, EX-850

unsungivy · ‎06-18-2021

Hoping that change means that they start allowing any amount, not just the $25 minimum.

Curve Card WEMC | $500 @ 13.74% (prime + 8.99%) | 6/15/2022

Gemini Card WMC | $21k @ 14.49% (prime + 9.74%) | 6/21/2022

AOD FCU VS | $5k @ 7.49% (fixed) | 6/15/2021

Affinity FCU Cash Rewards VS | $35k @ 14.00% (prime + 9.25%) | 6/17/2022

Elan Financial Max Cash Preferred VS | $25k @ 15.99% (prime + 11.24%) | 7/20/2021

Elan Financial Max Cash Preferred WMC | $25k @ 15.99% (prime + 11.24%) | 7/20/2021

BofA Customized Cash Rewards WMC | $25k @ 15.49% (prime + 10.74%) | 4/13/2022

BofA Customized Cash Rewards VS | $25k @ 15.49% (prime + 10.74%) | 4/13/2019

Amazon Prime VS | $18k @ 15.74% (prime + 10.99%) | 1/20/2021

Chase Sapphire Reserve VI | $25k @ 17.49% (prime + 12.74%) | 7/20/2021

AmEx Platinum Card | NPSL @ 17.49% (prime + 12.74%) | 4/20/2022

SD -

AmEx EveryDay | $25k @ 16.74% (prime + 11.99%) | 8/12/2003

AmEx Blue Cash Everyday | $5k @ 15.49% (prime + 10.74%) | 7/20/2022

Macy’s AmEx | $25k @ 27.49% (prime + 22.74%) | 5/13/2011

Biz -

AmEx Blue Business Plus | $25k @ 17.74% (prime + 12.99%) | 6/21/2021

Chase Ink Business Cash VS Business | $3k @ 20.74% (prime + 15.99%) | 6/21/2021

Anonymous · ‎06-18-2021

Yes I saw it, but it didnt bother me it was going away. I like to do statement credits over giftcards. Giftcards have increments of 25 while statement credits any amount 25+.

longtimelurker · ‎06-18-2021

@Anonymous wrote:
Yes I saw it, but it didnt bother me it was going away. I like to do statement credits over giftcards. Giftcards have increments of 25 while statement credits any amount 25+.

Plus, using a gift card, you lose whatever credit card rewards you would get using another card. (Same if you are gifting it, you could have purchased one with another card). Basically, redeeming for gift cards make little sense unless they are discounted. (But better than choosing merchandise!)

ETA: this is for cashback cards. With some point cards, it might be the best non-travel redemption

kdm31091 · ‎06-18-2021

Realistically there isn't much advantage to redeeming for a gift card, even though it can feel more like a "reward". Just go buy what you want at whatever merchant you would get a GC for, and redeem for a credit against it.

The exception would be with situations like with Discover where they give you a slightly higher redemption value if you choose a GC. But if it's the same value, why choose something less flexible?

Anonymous · ‎07-07-2021

Anyone else get this message from Amex: "Effective July 7, 2021, you will no longer be able to redeem Reward Dollars for gift cards or merchandise.You will still be able to redeem for statement credits."

What gives?

FinStar · ‎07-07-2021

@Anonymous - please reference posts upthread.