Do We Have An Irrational Love Of 5X Amex Amazon Offers?

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5X Amex Amazon Offers

Do We Have An Irrational Love Of 5X Amex Amazon Offers?

Earlier today we shared a new 5X Amex Amazon offer that just came out today.  I love these offers and usually get them done right away.  I am the type of person that likes to get things done ASAP. That means when these offers roll around I do an Amazon balance load and move on with life. I lock in that 5X Membership Rewards earning, set it and forget it. You all know I hate having to track another thing so this is a simple solution to maximize the offer without worrying about it.

But is that an irrational move? Are these offers really worth it anyway?  I have an Amex Gold and Amex Gold Business card as well as a Chase Ink Cash and Chase Ink Plus card.  Those cards earn 4X-5X at U.S. grocery stores, U.S. gas stations or office supply stores.  All of those places sell Amazon gift cards, and some offer store points of their own on top of it.  So why do I get excited about these offers? Why do I lock up capital for something I can somewhat easily replace?

This is of course assuming I don’t have a pressing need to purchase something on Amazon. If that is the case then this offer will always make sense.

5X Amex Amazon Offers

A Few Counterpoints

There are counterpoints to my thinking. First off, if you don’t have a card that earns at a high rate where Amazon gift cards are sold then this is a great option.

Another thing is Amazon does not like large Amazon gift card balances.  I should clarify that even more, they don’t like you loading a lot of Amazon’s own gift cards. They seem to prefer balance loads instead and they can not confiscate that as easily as they seem to be able to with Amazon gift card loads. This offers some protection for you, especially if you load often for buyers groups etc.

Lastly, if you max out the higher earning levels on the cards listed above via other routes then this may be a perfect offer for you. Instead of using up some of your bandwidth on Amazon you can use these offers to extend the higher earning with other cards.

Are 5X Amazon Amex Offers Good – Final Thoughts

It appears, as with anything, that your mileage may vary. These 5X Amazon Amex offers will be great for some and not as good for others. Just be sure to take a step back and figure out what works best for you.  There is no point in carrying a $500 Amazon balance just to use the offer. Especially if you know that you won’t use it for a while. If you can somewhat easily replace that earning level then it probably makes sense to just load it when you actually need it. Don’t get caught up in the hype, or caught up chasing points, so to speak.

On the other hand if you burn through Amazon credit from reselling or buyers groups then this offer is great. It offers a lot less risk than loading Amazon gift cards to your account. And if you don’t have a good option to earn higher rates on your Amazon purchases, or if you max out those cards earning potential already, then this offers you another option.

Just make sure you are deciding what works best for you.

Mark Ostermann
Mark Ostermann is a father, husband and miles/points fanatic. He left the corporate world after starting a family in order to be a stay at home dad. Mark is constantly looking at ways to save money and stay within budget while also taking awesome vacations with his family. When he isn't caring for his family or taking a weekend trip, Mark is working towards his goal of visiting every Major League Baseball ballpark.

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  1. Yes, I used to do Amazon gift cards. But I do not anymore because of 1- the Amazon confiscations you mentioned and 2- I feel like I spend more on Amazon when I have a gift card balance.

  2. Any credit card offered warranty on purchases from Amazon is a reason to buy directly with a 5X offer on a credit card rather than a gift card balance. I usually have a $1000K gift card balance on Amazon, but always feel a bit exposed buying big ticket items with a gift card balance.

  3. I’ve heard conflicting advice for buying Amazon gift cards at grocery stores with the Amex Gold. Some do it regularly, but others say it’s inviting a shutdown. What’s your take?

    • I do it when I need to boost my balance. But I wouldn’t hit it too hard since Amazon has showed they are not a fan of adding big balances quickly.

  4. Do you personally have a ceiling for Amazon credit balances? I have been using reloads and gift cards left and right it feels like and I’m loading way faster than I’m spending. Just curious if there’s a number you don’t like exceeding. Thanks

    • I try to keep my balance $500 or below. I have heard of people running into trouble above that but there have also been plenty that haven’t had issues. So I am not sure what the magic number is but I wouldn’t put any amount in there that is more than you are comfortable having stranded for a few months if you should have to fight with Amazon.

  5. I used to buy Visa Gift cards when this would come around but you can only get them in $200 amounts and they are hard to unload nowadays if they don’t have them my name on them.

    • The fees are kind of high on those too if I remember correctly. I wish Best Buy gift cards were still a hot reseller 🙂


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