One of my first posts of 2016 recommended that anyone who generally buys airline gift cards to take advantage of the annual airline credit on the American Express Platinum ($200) or Premier Rewards Gold ($100) card should do so now, rather than taking a chance that American Express kills this option at some point in 2016. While reports on Flyertalk have generally been positive about this ‘trick’ still working, I can confirm firsthand that $100 American Airlines e-gift cards and $50 Delta e-gift cards are working. Not only are they working but American Express is crediting them in record time – only one or two days!
Successful AA Gift Card Reimbursement
Successful Delta Gift Card Reimbursement
If you want to try it for a different airline, please see the applicable Flyertalk threads below for other airlines.
Update: One note that Ann brought up in the comments – AA will not sell gift cards to NJ residents so you need to chose a different airline if you plan to buy gift cards. So make sure you select your airline with American Express first before buying any gift cards.
United Gift Card Reimbursements
Southwest Gift Card Reimbursements
PointsCentric 
[…] Update: Credits are posting as expected. See this post for more details. […]
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Didn’t I read somewhere that for NJ folks this does not work for some reason?
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American Airlines will not sell gift cards to NJ residents so you need to select a different airline if you plan to buy gift cards.
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Glad it worked for you, Ralph. Should I bother trying to get Amex to give me credit for a two week old GC purchase? Are they able to easily see what’s been bought?
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If it is two weeks old, it would go against your 2015 credit. I would give it another week or so (I’ve seen it take longer) and then maybe chat with Amex online & ask them when the credit will post.
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Have a question about using Amex to buy gift cards and getting reimbursed for $200 airline Credit. Did you buy the AA gift cards directly through American Airlines?
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Yes, it is all done through AA. Go to https://giftcards.aa.com/ to buy them
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I tried $50 egift card with Delta and it did NOT work!!! It has been over a week. I ended up having to pay for the egift card. Caution! Buyer beware! Caveat emptor! Do not trust this scam.
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It can take longer than a week for the credit – I assure this is no scam
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