Last month, my rewards balance for my Amazon.com Credit Card reached 2,500 points, which meant I could redeem a $25 gift certificate. However, I decided to wait a month because I figured I could just redeem $50′s worth of gift certificates this month and save some hassle.
When I logged into my rewards account yesterday, I noticed that I had the option of redeeming $50 in gift certificates or $50 cash (in the form of a check). In the past I just always chose the gift certificate because I shop at Amazon.com so often, but I realized that I could get more out of my rewards program by redeeming my points for cash.
How I get more out of my rewards program by redeeming cash instead of gifts certificates
- I spend “cash” out of my bank account when I make a purchase at Amazon.com (I pay it back at the end of the month).
- I get 3 rewards points for every $1 spent at Amazon.com.
- When my rewards points reach 2,500 I can get a $25 gift certificate, BUT
- If redeem a $25 Amazon gift certificate and use it on an order,
- I don’t get any rewards points for that $25.
- So I wait until my balance reaches 5,000 points.
- I redeem it for $50 cash.
- I put that cash in my bank account.
- I pay for my next Amazon.com order with my Amazon.com credit card.
- I can earn another 150 points with that $50 cash that came from points I’d already earned using the card when I pay for my next Amazon.com order with it!
And, of course I also put any and all purchases and bill payments on my Amazon credit card to get 1 point for each $1.
So if your credit card rewards program gives you the option between gift certificates and cash, take the cash and put it back to work for you again … and again!