Editor’s note: This post is regularly updated with new information.
Amazon’s popular American Express deal is back, just in time for the Prime Early Access sale. Targeted customers can save up to $40 on eligible purchases by redeeming just 1 point.
As a reminder, Prime Early Access is essentially Amazon’s second round of Prime Day deals. You must be an Amazon Prime member to shop these deals that run from Oct. 11 to 12.
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Generally, we don’t recommend redeeming Membership Rewards points on Amazon, given that each point is worth just 0.7 cents there. TPG values Amex points at 2 cents apiece — more than double the value you typically get from using these points on Amazon.
However, if 1 point can be worth $40, then that certainly changes things.
Offers available when using Membership Rewards points to pay on Amazon
Not everyone will receive the same offer. You may receive an offer for 20%, 30%, or 40% off select purchases. The maximum discount on these offers will be reached once you spend $100. Thus, if you’re targeted for 40% off, your maximum discount available is $40 off.
As noted, this is a targeted offer. You can confirm eligibility for the promotion by clicking here.
While most products must be sold by Amazon to be eligible for any of the discounts — third-party listings won’t trigger any savings — you may be able to take advantage by stocking up on dining or retailer gift cards. Gift cards for companies like Whole Foods, Uber Eats and Nordstrom are also eligible.
Related: Best cards for Amazon purchases
How to get 40% off by redeeming 1 Amex point
Here are the steps for turning just 1 Amex Membership Rewards point into serious Amazon savings:
- Check here to see if you have a targeted offer.
- Activate the offer in your Amazon account.
- Load up your cart with eligible items sold by Amazon instead of by third parties (yes, most gift cards count).
- 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 in your account. What’s great is that this offer can even stack with Lightning Deals and other promotions available on Amazon.
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. This time around, the offer is set to expire at 11:59 p.m. PDT on Dec. 26, or after 37,500 Amazon customers have redeemed offers — whichever comes first.
Other offers may be available
You may also find this offer with other rewards programs. For example, TPG senior editor Andrew Kunesh was targeted for 40% off up to $20 when using Discover Rewards on select Amazon purchases. This offer expires at 11:59 p.m. PDT on Dec. 31, or when $650,000 worth of offers have been redeemed.
You can find targeted offers on Amazon product pages, right underneath the item’s price.
Additional reporting by Andrew Kunesh.
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