Note: If you spend $2000 within 3 months, you get 25000 points that can be exchanged for $250 in gift cards (e.g. for Dell, see here). Cashback rate in the thread title refers to the value of a $100 gift card that you can redeem 10,000 points for. If you spend $30,000 with the card between January 1st and December 31st, you will get additionally 15,000 bonus points and 30,000 regular points. Your total number of bonus and regular points will be 70,000 points. You can redeem 70,000 points for $700 in gift cards.
Alternatively, you should be able to convert 27000 points (25000 bonus points and 2000 regular points after spending $2000 to get the bonus) to 27000 Delta miles. You can then exchange 27000 bonus miles for $270 in Delta airfare (see more info here).
If you spend $30,000 within one year and get 70,000 points (both bonus and regular, see above), you should be able to exchange them for $700 in Delta airfare (70,000 Delta miles).
Offer not available to existing consumer American Express Charge Cardmembers. The annual fee for the Premier Rewards Gold Card is $175. To be eligible to earn bonus points, you must charge $1,000 of eligible purchases in your first three months of Card membership on an American Express® Premier Rewards Gold Card.15,000 bonus points will be credited to your Membership Rewards account 6-8 weeks after you meet the spend requirement. Limit one offer per Card Account. Bonus ID: 3643. Bonus points may be redeemed for up to $150 in gift cards upon point credit at participating retail, dining, and entertainment partners. Terms and Conditions of the Membership Rewards program apply. Visit membershiprewards.com/terms or call 1-800-AXPEARN (297-3276) for more information. Participating partners and available rewards are subject to change without notice. Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Redemption of miles for Delta airfare:
There is no fee for using your Pay with Miles benefit. Pay with Miles redemptions are flexible based on the price of the ticket;
For fares less than $100: Redeem 25,000 miles to cover the total fare
For fares equal to or greater than $100 and less than $250:
Redeem 10,000 miles for $100 off the total fare or Increase the redemption to 25,000 miles and increase from that point in increments of 5,000 miles ($50 off) to cover the total fare
For fares equal to or greater than $250 and total fares less than $1,000:
Redeem 10,000 miles for $100 off the total fare or Increase the redemption in increments of 5,000 miles ($50 off) to cover all or part of the total fare (15,000 miles for $150 off, 20,000 miles for $200 off, etc)
For total fares equal to or greater than $1,000:
Redeem 10,000 miles for $100 off the total fare or Increase the redemption in increments of 10,000 miles ($100 off) to cover all or part of the total fare (20,000 miles for $200 off, 30,000 miles for $300 off, etc.)
If you choose to pay for a fare with both miles and a credit card, you must use an eligible American Express Credit Card