(EDIT: A reader report in March 2015 suggests that gift card purchases are no longer earning points. This was only one incident but be aware!)
I first wrote about Amex’s new range of gift cards last year.
Basically, you can now (in theory) walk into a WH Smith, Sainsbury or Superdrug and a buy a £20, £30, £50 or £100 Amex gift card. The fee payable on top is £2.45, £2.95, £3.45 and £4.45 respectively.
Via the Amex Selects website, Amex is offering a £5 discount when you purchase an Amex gift card.
Now, this hardly makes the deal an unmissable one. However, buying these gift cards DOES count as a ‘purchase’ and therefore qualifying spend towards triggering any sign-up bonus. You may therefore be willing to pay the fee if you may otherwise struggle to hit a spend target.
You also need to add a postage fee of up to £4.95 to the fees above. However, this is capped at £4.95.
Including the £5 discount, you therefore pay, in fees and postage:
- £100 gift card – £4.40
- £200 gift card – £8.95
- £300 gift card – £13.30
- plus £4.45 for each additional £100
Is it worth it? Well, if you are £500 short of qualifying spend for a sign-up bonus then paying £23 in fees to buy a £500 gift card may be worth it. It is cheaper than buying the £50 Visa gift cards with £3.95 fees found in Boots, Tesco etc. (Of course, if you can find 3V cards with no fee then they are clearly a better deal!)
The offer runs until August 15th.