New Amex Offer: Save 20%+ on Tons of Items or Potentially Make Money Selling Gift Cards [Targeted]

Overstock.com Amex Offer

While it may be a holiday, the American Express Offers elves appear to have released a good new offer. Let’s take a look.

The Offer

Get a one-time $30 statement credit by using your enrolled Card to spend a minimum of $150+ in one or more transactions online at Overstock.com by 9/4/2017.

Update: Some people have also received an offer giving 3,000 Membership Rewards points in lieu of $30.

Key Terms

• Valid online only.
• Excludes corporate gift card purchases.
• Valid only on US website.
• Excludes Coastal Contacts purchases, O.biz, Supplier Oasis and Klarna purchases. Offer is non-transferable. 

How to Load

This offer appears to be targeted (it seems to show up on personal accounts) and as of now can only be loaded to select accounts via the American Express app or website. Looking for the old Amex website interface? Try this link.

Analysis

Overstock sells a ton of merchandise, so this can be an effective 20% discount on a ton of items. If you are purchasing merchandise, remember to use a portal and to also search the internet for discount coupon codes. Overstock often runs discount promos that should stack with this offer.

Additionally, you can purchase Overstock gift cards to keep for later or to potentially sell for a profit. Depending on who you sell gift cards to, you could potentially get over 80% of face value in return. I have already purchased a $150 gift card and it did trigger the “Congrats” email. I used a portal, but haven’t seen any data points as to whether purchasing gift cards will trigger cashback. As of now I wouldn’t count on portals to payout.

Conclusion

Considering the amount of different stuff that Overstock sells, this could be a great deal for household items and electronics. Alternatively gift card resellers could definitely make a few bucks flipping Overstock cards. Either way this turns out to be a decent offer.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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