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Redeeming Membership Reward points for gift cards is pretty much never going to get you a great redemption value for your points. Typically, when you redeem Membership Reward points for gift cards you get $0.01 value for each point redeemed. However, right now select gift cards are available for 20% fewer points on some accounts. That means you are getting $0.0125 value for each point. Not great, but certainly better than the regular rate. Currently I am seeing the discounted redemption rates on my account, which is a Platinum account, but not on my mom’s account, which is a Premier Rewards Gold account. I also got this information via a reader who also has a Platinum account. The wording in the offer says it is for “solicited” accounts only, so I don’t know how widespread the offer is or isn’t.
The included retailers are:
Berdorf Goodman, Neiman Marcus, Pottern Barn (and PB e-gift card), Saks Fifth Avenue, West Elm (and WE e-gift card), and Williams-Sonoma (and WS e-gift card).
This discounted rate is available until March 31st. Again, this is not a spectacular redemption value, but if you are points rich and have been eyeing these gift cards anyway, then this deal might make sense for you. I won’t be getting in on this deal as I like to redeem my MR points for at least $0.02 each, but I sure do love a bunch of Pottery Barn Kids stuff, so I can see how it is somewhat tempted.