The Amazon 50% off promo is back for American Express cardholders who earn Membership Rewards points, and this round runs all the way through December 31, 2026. Amazon is once again targeting accounts with different versions of its Shop with Points discount, ranging from 10% to 50% off, and the version you get decides whether this is a great deal or one to skip. I have two different versions across my own accounts right now, so check yours before your next order.
I put together a list of my favorite travel items to get with this offer. You can access it here.
How the Promo Works
Amazon periodically targets American Express cardholders with discounts for using Membership Rewards points as a payment method through Shop with Points. This round follows the familiar pattern. You activate the promotion on the offer landing page, add eligible products to your cart, and apply a minimum number of points at checkout. The discount then applies to your order automatically before you pay the remainder with your card.
The key word is targeted. Not every Amex account sees an offer, and the accounts that do see one are not all seeing the same version. Based on the offer pages I can see on my own accounts, one version gives 40% off up to $40 with a 1,429 point minimum, while another gives 50% off up to $80 with a 714 point minimum and is restricted to Prime members.
The Offer Tiers
The table below summarizes the versions of this promotion currently circulating. The two middle rows come directly from offer pages I have verified myself, and the 15% and 30% tiers come from secondary reporting, so treat those two as directionally accurate rather than confirmed.
| Discount | Max Savings | Minimum Points | Points Value |
|---|---|---|---|
| 50% offVerified · Prime Only | $80 | 714 | $5.00 |
| 40% offVerified | $40 | 1,429 | $10.00 |
| 30% offReported | $30 | 1,429 | $10.00 |
| 15% offReported | $15 | 1,429 | $10.00 |
What the Points Actually Cost You
Here is the part that makes this promo a no-brainer. Amazon redeems Membership Rewards points at a rate of 0.7 cents each, so the 714 point minimum on the 50% offer represents just $5 of value, and the 1,429 point minimum on the 40% offer represents about $10. Third-party valuations, which are estimates, generally peg Membership Rewards points at 2 cents or more when transferred to airline and hotel partners, so even valuing your points generously, you are giving up roughly $14 to $29 worth of points to unlock $40 to $80 in cash savings. That trade wins every time as long as you apply only the minimum and pay the rest with your card.
That last point matters. Paying for your entire order with points is one of the worst redemptions in the Membership Rewards program. Type in the minimum, let the discount trigger, and stop there.
A Real Example With Numbers (From The Last Deal Earlier This Year)
I put the 40% version to work on a Grand Theft Auto VI pre-order for PlayStation 5 to show you exactly how the checkout math plays out. The game listed at $79.99. The Amex 40% off discount took $32.00 off the item, tax added $4.68, and applying $11.00 in points (1,571 points) brought the final charge to my card to $41.67. That is a release day copy of the biggest game of the year for a little more than half price.
The 50% version stretches even further because of the $80 cap. Load $160 of eligible products into your cart, apply the 714 point minimum, and the promo wipes out $80 before tax. If you were already planning a big Amazon order, this is the week to place it.
Going with my example above, that’s a BOGO deal on GTA VI pre-order, which is a pretty crazy savings.
The Fine Print Worth Knowing
The terms of the offer, which I have reviewed in full, contain a few details that deserve your attention. The promotion ends at 5:00 pm PT on December 31, 2026, or the moment 57,142 customers have redeemed it, so the real deadline may arrive earlier than the printed date. The offer is by invitation only, and the discount percentage and maximum savings vary by account, so check your own offer page for your exact numbers. You have to activate the offer before checkout, then use at least the minimum number of Membership Rewards points listed in your offer toward the purchase for the discount to apply. The discount is calculated before shipping, taxes, and fees, and it allocates proportionally across all eligible items in your order. Eligible products are those available through Shop with Points, which covers most items sold and shipped by Amazon but excludes gift cards entirely. The offer cannot be combined with other offers, and the maximum benefit is capped per enrolled card or per Amazon account, so adding a second Membership Rewards card to the same Amazon account will not double your discount.
Returns work a little differently under this promo. If you return an eligible item, your refund equals the original price minus the proportional discount, and if you have already hit your offer’s maximum discount, you cannot reuse it on a new order after the return. If you want the points themselves returned instead of a refund, you have to contact American Express within 60 days of receiving the credit.
Two practical warnings. If your order summary does not show the discount line before you place the order, stop and try again later rather than hoping it posts afterward. And after you use the promo, go check your default payment settings, because Amazon has a habit of leaving Membership Rewards points selected as your payment method, which can silently drain points on your next order.
Citi Cardholders Have a Version Too
If you were not targeted on the Amex side, check your Citi cards. A Citi ThankYou Points version of this promo is also running, with reports of 40% off and a $50 maximum discount when you use at least 125 points, which is $1 worth, through 5:00 pm PT on December 31, 2026. It reportedly works on items from third-party sellers that are shipped by Amazon and does not appear to work on gift cards. I have not verified this one on my own account, and like the Amex side, it is targeted, so your version may differ. You can check those offers here.
Bottom Line
The Amazon 50% off promo is one of the easiest wins in the points world right now. Check whether your account is targeted, activate whichever version you have, apply only the minimum points at checkout, and let the discount do the work. Just get it done ASAP, because between the redemption cap and the hard deadline, this offer can vanish without warning.
Click here to view your Amex offer.
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