Interesting eBay offer if you convert Amex Membership Rewards to Nectar

One option for using your American Express Membership Rewards points which is often forgotten about is converting them to Nectar points.

The transfer rate is 1:1.  The minimum transfer is just 1 point which makes this a useful way of using up the last few hundred points on your account if you are closing down your Amex card as most partners only accept transfers in chunks of 1,000.

Few Nectar deals are desperately exciting because most Nectar offers are only worth 0.5p per point.  This page on our sister site Shopper Points shows the best value Nectar redemptions – ie everything which gets you more than the standard 0.5p per point!  You can do a lot better with your Amex points by converting to airline or hotel points.

Until the 25th June, however, there is an interesting eBay promotion available.

You need to check that you are targeted for this by logging in at the Nectar website and looking at My Bonus Offers.

eBay Nectar

Assuming you can see the offer, if you cash in your Nectar points for eBay credit by the 25th June, you will get a 50% rebate of the points back into your Nectar account.

Let’s look at how this works.

Imagine you move 10,000 Membership Rewards points to Nectar.  If you convert those to eBay credit, you would receive £50 – the usual 0.5p per point.

However, on this occasion, Nectar will refund you 50% of the points!  This means that you have only paid 5,000 points for your £50 of eBay credit.  That is 1p per Nectar point (and so 1p per American Express Membership Rewards point) which is an excellent deal.

(An easy way of using up the eBay credit is to buy supermarket gift vouchers.  You will pay very close to face value including postage but it is an easy way to liquidate your credit.)

There is one snag though.

You are NOT really getting 1p per Membership Rewards point because you need to factor in what you do with the rebated points.  Take a look at this example:

Transfer 10,000 Amex points to Nectar

Spend 10,000 Nectar points on a £50 eBay voucher

Get 5,000 Nectar points refunded to your Nectar account

And then …. you need to use the rebated points for another Nectar deal at just 0.5p per point (£25) of value

You would actually have got £75 of value in total for your 10,000 Nectar points which is 0.75p per point.

If you already have Nectar points in your account then this is an excellent deal and you are genuinely getting 1p per point.  If you are transferring in from Amex, you will only be getting 0.75p per Amex point.  Hope that makes sense …..!

American Express transfers to Nectar are usually very quick so you have a very good chance of a transfer made today arriving on or by the 25th.  This is an additional risk, of course.

Note that there is a maximum conversion of 40,000 Nectar points (£200 of eBay credit) allowed under this offer.  You will not receive the 50% points rebate on any figure above this.

PS.  If you do buy something on eBay with Nectar credit, please remember to use our eBay affiliate link.  Either click here or use the link in the right-hand margin of HFP.  We receive a small commission on every purchase.  Thank you.

(Want to earn more miles and points from credit cards?  Click here to visit our ‘Credit Cards Update’ page or use the link in the menu bar at the top of the page.)

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Comments

  1. Not sure how long it takes but I converted Nectar points to an eBay voucher several days ago to take advantage of this and I haven’t received a rebate yet so it doesn’t appear to be instant (just an observation, not a complaint).

    • Head for Points says:

      The rebate is definitely not instant.

      If it WAS instant it would make it an exceptionally good deal, because you could immediately redeem the rebate for another slug of eBay vouchers and get 1p on the rebate.

  2. John G says:

    There is a Vue cinema offer starting next week where 1000 nectar points = 2 adult cinema tickets. This would be excellent value for any remaining balance, although by all accounts it takes a very long time to get your 50% back from the eBay offer.

  3. The reason they hold back crediting the 50% is to stop people with less than 40k points churning the same points around and around – eg 20k points would yield 10k, then 5k, then 2.5k in rebate each time you sent them to ebay.

    I did quite well out of this over the weekend. I had just over 40k points, redeemed them for £200 in ebay vouchers. 8TB hdd I’d had my eye on from the Argos outlet was £258, I stacked the £200 voucher with a 10% off code, meaning I got the HDD for 20k nectar and £28. Can’t be bad!

  4. Marcus says:

    OT: I received a (paper) letter from Shell today, offering 1000 bonus points for filling up 5 times with 20 litres minimum of V-Power nitro+ unleaded between 22nd June and 11th August (50 days). This looks targeted. Their further information website shell.co.uk/fivefillchallenge however was not working this morning.

  5. Slightly OT Raffles but any idea how long it takes East Coast Rewards to transfer to Nectar? I sent some across at the weekend in the hopes of using them for this offer, do you think they will arrive in time?

  6. Anyone know if this eBay credit will be applied against seller fees? Also how long is it valid for? Have a wee stash of Nectar points that I may as well cash out via this route rather than the usual 0.5p ones!

    • No, cant be used for fees (unfortunately), only purchases. Voucher valid for 12 months. Still not bad value…

      • Note that you need to spend £10 including postage on eBay for the Nectar vouchers to be accepted. Not a massive restriction but may catch you out if planning to buy something cheap.

      • Yep – just tried it myself and found that. Ah well, still pretty good value for Nectar so glad I made the conversion!

  7. Can someone please advise, once you have an ebay credit, how do you go about purchasing a supermarket gift voucher? Do you do it through an ebay outlet? I can’t find gift vouchers on the Tesco outlet site. Thanks in advance.

    • I think Raffles is suggesting buying a voucher in a normal ebay transaction (ie where private sellers have unwanted vouchers that they are looking to sell on to private purchasers).

      Essentially a secondhand, but unused voucher.

      • sam wardill says:

        Is this not a bit risky to do with Nectar credit. Do you not lose the normal Paypal buyer protection?

        • I don’t think so – you have to use PayPal checkout to make use of the voucher…

          Conditions to apply your voucher:
          £10 minimum total purchase is required (including P&P)
          You must use Paypal at eBay checkout
          Your eBay voucher will expire in 12 months
          Your eBay voucher can’t be converted back into Nectar points

  8. Does anyone know if you get one big eBay voucher that you need to spend in one go, or is it like credit that you can spend down as you purchase things?

  9. kevino says:

    I have the nectar page under my offers, but when I get to the ebay page, it has no mention of the 50% rebate.

    Is this normal?

  10. OT- I have a gold Amex Preferred Rewards card and received an SPG referral e mail from a friend. Text at the bottom states if you are already have a membership rewards account or have held one in the past 6 months you do not qualify for the SPG sign up bonus of 11000 points. Is this correct? I thought as long as you do not hold an SPG card you would qualify.

    • That is a mistake – someone at Amex did a cut and paste from the Gold website! It is meant to say ‘no SPG card in the last 6 months’.

  11. I’ve just swapped out some of my Nectar points for Ebay voucher which is showing on my checkout screen. However when I try to apply it I get a message asking for a redemption code. Anyone else have this problem ? What’s the fix ?

    • Strike that – just worked it out – it is fine as long as you are logged into paypal as well…

  12. Brilliant. I’ve been looking for years for somewhere to offload my growing stash of Nectar points at anything north of 0.5p. Just got rid of the lot! Thanks Raffles.

  13. Thanks for the heads up, never used my points on eBay, but have the offer so have gone for it, seems the max is 40,000 points / £200 voucher per transaction, it doesn’t seem to say it’s limited to one transaction, is it safe to assume you will get the 50% back for each transaction in the promotion period? Thanks

  14. Has anyone got the 50% points back yet?

  15. Still waiting – at least spending eBay vouchers is easy.

  16. I just emailed Nectar and asked. They say it 28 days from the date the offer expires for the rebate to be credited.

    No idea if that’s a ‘make it up as you go along’ answer ;-), but may be worth checking back on 24 July and contacting them if you’ve seen nothing by then.

    • I’ve received nothing either and got the same 28 days response from Nectar.