Until recently it was possible to liquidate Amex gift cards for free through Venmo. Venmo normally charges 3% for credit cards, but they identified Amex gift cards as debit cards and charged no fee.
As of about a week ago, Amex gift card payments through Venmo stopped working altogether. Details were reported on Reddit. And then Miles Per Day declared the deal dead. For a while, I held out hope that this was merely a glitch on Amex’s side. Some early Reddit posts seemed to confirm that idea, but no good news has been reported since then. Further, several people report being told by Amex that Venmo Amex gift card transactions are specifically blocked.
It’s time (maybe past time) to declare the deal dead.
Last updated on March 31st, 2019