Last week I wrote about how you can still earn cash back on $2,000 American Express gift cards, primarily through the Extrabux cash back portal. In the post, I recommended taking screenshots of the entire transaction in case it wasn’t tracked. I’ve used Extrabux in the past, mainly for GiftCardMall.com purchases and had no problems with payouts. However, it appears American Express gift card purchases aren’t being tracked and some are speculating that despite not updating their terms, Extrabux is among those shopping portals limiting cash back on American Express to $200 denominations.
As of today, my American Express gift card purchases are still showing up as pending through November 26, 2015. Some folks have reported their orders initially showing up as pending and then returned. I’ll provide an update on my order either way.
A few other readers reported bad experiences with non-American Express gift card purchases made through Extrabux. So I would recommend holding off on using Extrabux for American Express gift card purchases until these issues get resolved. It certainly doesn’t help that these people are getting no response when they contact Extrabux.
So for the time being, Extrabux and American Express gift card purchases are off the table. At some point, I’m sure portals like Top Cash Back will run promotions offering an increased bonus or cash back on larger gift card denominations. Meanwhile, I wouldn’t take the risk of not earning cash back after paying all of those extra gift card and shipping fees. Instead, it’s time to look at alternative options for churning gift cards:
• Buy visa gift cards at grocery stores. The advantage here is that grocery stores often offer discounts on gift card purchases, which off-set the purchase fee. Combine that with credit card category bonuses and this can be a lucrative way to generate spend. The Visa gift cards sold at grocery stores are the same ones sold on GiftCardMall.com and can be used to load both the Target Prepaid RED card (aka Redbird) as well as purchase Walmart money orders.
• Buy visa gift cards at office supply stores. Purchasing Visa gift cards at office supply stores can generate lucrative category bonuses, like the 5 points per $1 earned from the Chase Ink Plus card. With Visa gift cards mainly sold in $200 denominations carrying a $6.95 fee, you’re looking at generating 1,000 Ultimate Rewards points. Sometimes office supply stores offer discounts on Visa and American Express gift cards purchased in-store. This can off-set the purchase fee. These coupons are often limited to one gift card per person. But let’s face it: Large numbers of $200 Visa gift cards are a hassle to liquidate, so there’s no need to stock up.
Those are a few gift card options for the time being. Keep an eye out for cash back portal promotions and in-store coupons. The loss of American Express gift cards won’t seem so bad after all.
What has your experience been with using Extrabux for American Express gift card purchases? Please share in the comment section.
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