MilesForTwo

Buying HP Gift Cards for the Points

American Express has these coupons/promotions that you can add to your cards called AMEX Offers. They basically give you a discount for spending a certain amount of money at a specific store. It is important to read the fine print on these AMEX offers because they’ll often exclude certain purchases as eligible.

AMEX Offer - HP

HP AMEX Offer

Most recently, there was an AMEX offer for HP. The offer was spend $250 get $50 back. The offer didn’t exclude gift cards so you’d be able to buy a $250 gift card for $200. I was able to add this offer to all of my cards as well as my wife’s cards. To make things better, the United Shopping Portal was offering 4 miles/$1 spent at HP (compared to the usual 2 miles/$1). I purchased four $250 e-gift cards putting each transaction on a different card. Two of the four orders went through without a problem, but the other two got sent to fraud protection at AMEX. It wouldn’t let me verify the charges on my phones so I had to call AMEX to clear them.

AMEX Offer - HP2

Earnings

I was then able to sell the $250 gift cards for $205 to a gift card exchange. In the end, here is what I earned on each HP transactions:

  • 250 MR or SPG (depending on the credit/charge card)
  • 1,000 United miles
  • and $5

Not bad considering I didn’t even have to leave my house to get these points. I still have the AMEX offer on one more card. I’m waiting to see if there’s another increased portal bonus before I buy another HP gift card.

Update 7/28/2016: I used my final AMEX offer to purchase another HP gift card and used the eBates portal, which was offering 15% cash back. This works out to be $37.50 plus the $5 from selling to the exchange. Total profit for this last transaction: $42.50 + 250 SPG points.