TopCashBack limits Amex gift card cash back to $200 denomination cards [Developing…]

Earlier this morning I published a Quick Deal stating that TopCashBack was offering 2.25% cash back for Amex Business Gift Cards.  Then, I received a Tweet from Matt from Saverocity telling me to “check the terms!”.  He was referring to this new restriction:

Please note: Business Gift Cards or Consumer Gift Cards over $200.00 are not eligible for cash back. (Only Gift Cards with $25, $50, $100, $200 denominations are eligible for cash back.

And, to be clear that this wasn’t a mistake, when I clicked through from TopCashBack to Amex Gift Cards, I was presented with this message:

Just so you know…

Important Message: Business Gift Cards or Consumer Gift Cards over $200.00 are not eligible for cash back. (Only Gift Cards with $25, $50, $100, $200 denominations are eligible for cash back.)

Please Note: By clicking the continue button you acknowledge this important change, and understand that we are unable to accept claims for any cash back that does not track for Gift Cards purchased in denominations higher than $200.

TopCashBack_200_Limit

Don’t buy

Amex gift cards have a $3.95 fee, each.  With $200 denominations, that’s nearly a 2% fee.  If you pay for shipping as well, then you’ll be losing money by buying these gift cards.  My recommendation, as long as this new restriction is in place: DON’T BUY.

Information not yet known

  • Is this $200 restriction limited to today’s increased rates?
  • Will other portals add this restriction?

To be continued…

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33 Comments on "TopCashBack limits Amex gift card cash back to $200 denomination cards [Developing…]"

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CLP
Guest

RIP AGC

Val
Guest

Shame on me… I jumped on this right away and didn’t read the terms. Lesson learned.

Todd
Guest

Just call and cancel.

Val
Guest

I will. I called right away this morning and was told “since my purchase was already approved” I had to wait 2 days and call back again. At that point they can cancel and do a refund for the amount charged.

Mahesh
Guest

Can someonw tell me why limiting it to 200 creates new problem with liquidating these cards?

Dee
Guest

It isn’t liquidating a $200 card that’s the problem. It’s that the cash back doesn’t cover all the fees to purchase the card, let alone the fees for Visa GCs to liquidate them.

Mahesh
Guest

Yes! I dont know why I dint think of that 🙂 Thanks for letting me know!
I havent seen this posted on any blog so far, Amex might have closed this door for most now, but they have opened loading “serve” account with any credit card again. Last month I tried loading from Visa and it worked just fine. @FrequentMiler did you know this?

Dan
Guest

do u even MS?

Dee
Guest

Glad I saw this. I was just about to purchase. Thanks for the quick warning.

Rick I
Guest

We confirmed it is across all shopping portals. Restrictions set by Amex 🙁

shaky02dd
Guest

Can I ask how you confirmed this? I messaged with SBC and they said they were not aware of any change in terms planned before their 8/25 promotion.

GlenGarry
Guest

Most Cashback sites are small operations. They dont get around to instantaneously updating T&Cs. Here is the rule. They dont get paid, you dont get paid. And they aint getting paid anymore on above 200 gcs. But dont worry all another deal will come along. Continue you whistling past the MS graveyard.

ed
Guest

This is normally the season when Amex places limits or even removes all cb from these portal orders. Last year there was no cb from any portal for any denoms for about 2 months which last year began weeks earlier than now. I’ve deemed this dreaded season as AGC Dead Zone when the trade winds die dramatically. Slow ms sailing for a bit, but hopefully will return to better seas by October or sooner. This is a phenomenon much more dreaded by me than El Nino.

mike
Guest

Just check my purchase history. Last purchase active purchasing until August 28th. Then dead zone. Next purchase was October 27th.

GlenGarry
Guest

except this is removing from cashback sites its lowering the threshold to $200

JEM
Guest

@Mahesh – It could make some methods more difficult by requiring split transactions – I normally liquidate a $2K card in one swipe. I doubt my vendor has any interest in doing (much less paying for) ten $200 swipes.

Mahesh
Guest

Thanks Jem! I almost have no such place where I can liquidate huge amount debit card. I’m still sitting on $200 in amex giftcard and I have never done the amex giftcard purchase again 🙂

I havent seen this posted on any blog so far, Amex might have closed this door for most now, but they have opened loading “serve” account with any credit card again. Last month I tried loading from Visa and it worked just fine. @FrequentMiler did you know this?

Stephen
Guest

Unless I am missing something, it looks like Simply Best Coupons still has the same terms and conditions and doesn’t mention anything about limits of $200 denoms.

“No cash back Business Original Gold – $3K and Consumer Original Gold – $3K cards” That’s still the only restriction. It’s not 2.25% like TCB but it’s still worth it.

Gabriel
Guest

Time to load up on other portals to hold me over for a while….

I’m assuming if you order now before other portals change their terms, you’ll still get the 1.5% cash back?

projectx
Guest

We’ll see. I just ordered a couple cards and took a screenshot of the confirmation, terms, at date & time on my computer if I get any pushback.

Gabriel
Guest

I already have the 1.5% cashback showing up as “pending”. I’m in for $14k

HikerT
Guest

I wouldn’t rely on the terms at other portals. Portals won’t pay out unless AMEX pays them. If AMEX really did send out new terms to all the portals you can probably stick a fork in this until December. Time to start killing off the next best MS opportunity. 🙁

GlenGarry
Guest

Where’s the “oh well they’ll be another deal” crowd at? Too bad the people publicizing these deals do care if they live or die only that you click their links to get paid. MS lives, MS dies. Bloggers get paid for clicking their links. Sad part is that so many think this is helping them not hurting them

janol
Guest

american express GC are now missing at be frugal and simply best coupons

Dave
Guest

Another deal dead. I guess topically have to find something else tho blog about. Good thing you discovered Plastiq.

trackback

[…] of 2.25% cashback on Amex gift cards. This time though something is different. (Hat tip to Frequent Miler and reader Jim for letting me know.) Unlike with previous promotions where cards up to $2,000 in […]

Stephen
Guest

On Simply Best Coupons the terms and conditions have now changed to meet TCB. I bought a month’s worth of cards from Simply Best Coupons yesterday and they are still tracking on the pending page at 1.5%.

trackback

[…] But, maybe, not.  Reader, ed, reminded me that Amex often removes their gift cards from portals around this time every…: […]

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[…] you’re pretty much losing all your portal cash back.  Frequent Miler already has some analysis on it, and I agree that this makes it a […]