American Express Gold Card benefits: Here’s a little follow up post for those you who read my post on: How Renovating Your Home Can Help Pay For The Holidays. To recap, the American Express Gold Card is/was offering a great sign on bonus: if you spend $2,000 within 3 months, you will receive 50,000 membership rewards points. These membership rewards points can be redeemed for gift cards (which is an amazing advantage of these American Express Gold Card benefits points). Well, the results are in:
The sign up worked! The 50,000 bonus points are finally here!
Where do we go from here?
Well the plan to either get gift cards or use gift cards for the holidays can now progress. The options are seemingly endless but chances are we will use Amazon because of the plethora of items that you can get on there.
After counting through, there were over 105 different gift card options.
Point conversion and gift cards
Not all brands are equal unfortunately. It seems the highest amount that can be achieved with 50,000 membership points is around $500 such as in the example below:
Overall, this isn’t too bad. Most people give gift cards of $25-50 so if you target stores with the highest return on investment (ROI) for your points, this means you can cover up to 20 people at $25 and 10 people at $50. That’s a good way to get some additional mileage from your money for the holidays!
Referrals and points
The other interesting thing about American Express Gold Card is the referral program:
Basically you get 10,000 points per referral, which is awesome. If you’d like to check it out and help the blog in the process – here is my personal referral link. Thank you in advance!
I would say the experiment – although a simple one, was a success! I thought personally that the ROI would be higher for the gift cards, such as the 50,000 points converting to around $800 but a $500 value is not that bad. Given the fact that there was minimal effort in my part: sign up for the card, get the card, use a single purchase to meet the spend requirement and get the points. I basically got paid $500 for maybe 30 minutes of work. Truth be told, probably spent more time blogging about it, haha!
Either way, the American Express Gold Card benefits are definitely real and pretty cool. My holiday gift purchases are now mostly paid for!
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