Save up to $50 on Amazon purchases using just one Amex point with this targeted deal

Jan 17, 2020

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Amazon is starting off the year with a targeted, albeit very popular, deal.

While using your miles and points on shopping purchases is usually a poor value redemption, there are exceptions to every rule. One of those exceptions comes around when Amazon launches an offer for shoppers to redeem as few as one Amex Membership Rewards point to save 20% off an Amazon purchase.

While Amazon offers a variety of these offers from time to time, the deal we are seeing so far today is save 20% off an Amazon purchase, up to $50 off, by using one Amex Membership Rewards point.

For more TPG news and deals delivered each morning to your inbox, sign up for our daily newsletter.

Like many Amazon offers, these deals are targeted, so not everyone will have one of these offers available. Click here to see which version of the offer may be applicable to your account.

As Doctor of Credit shared, I had the offer for 20% off purchases in my Amazon account, up to $50 saved. I’ll happily trade away a single Membership Rewards point from a card such as the American Express® Gold Card or American Express® Green Card to save 20%. Even if I didn’t need any physical products from Amazon in the near term, I can just stock up on a dining or retailer gift card with that savings right now.

Related: Best cards for earning Amex Membership Rewards

Here are the steps for turning just one Amex Membership Rewards point into serious Amazon savings:

  • Check to see if you received 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 (and yes, most gift cards count)
  • Make sure to only use one point at checkout as shown below — it will default to paying with all points, which you probably don’t want to do as the return is poor.

  • Do a happy dance for saving up to $50 on Amazon. You’ll see the savings in your cart if it all worked properly.

The offer expires at 11:59 p.m. on Feb. 29, or after 80,000 Amazon customers have redeemed offers — whichever comes first. You will need to use your Amex credit card for this purchase in order to use a Membership Rewards point, but here are the best credit cards to use on future Amazon purchases. And if you have an Amazon gift card lying around, you can stack using it with this deal. Just be very careful you aren’t accidentally paying for your order with all Amex points as that would not be a good use of points — use just one point for max return.

Featured image by Leon Neal/Getty Images

Chase Sapphire Preferred® Card

WELCOME OFFER: 60,000 Points

TPG'S BONUS VALUATION*: $1,200

CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

Apply Now
More Things to Know
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • No delivery fees for a minimum of one year on qualifying food purchases with a DashPass subscription from DoorDash -over a $100 value. Activate with your Chase Sapphire card by December 31, 2021.
  • Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
Intro APR on Purchases
N/A
Regular APR
17.49% - 24.49% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent/Good

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.