This is exactly what I've been doing. I used to use a series of prepaid stored value cards for Woolworths, Coles, Woolworths Petrol, **** Smith, etc. as I was able to buy them on my Visa at a 5% discount to face value, and then use them for the transactions at those shops (usually collectively these would be about 5-7 transactions a week - so that's 5-7 more transactions on Amex that otherwise would have gone through my Visa (about $500 extra each week). Other transactions where it was too difficult to use cards for the points (takeaway, drivethru, etc.) I am now asking every time, and modifying my behaviour in terms of deciding where I'll eat, who I will shop with, etc. Even parking on the street in Sydney City now gets the Amex treatment!
I will be severely disappointed if this is capped. The promotion was publicly available (note
American Express and
American Express - they are publicly available pages on the internet which were linked from the front page of the American Express website - see
this link from simongr) and was NOT limited to people that got a postcard in the mail. The terms and conditions were clear, and believing it to be rather generous, I even called American Express Membership Rewards to talk to them there to confirm that it is indeed no minimum transaction value, no cap on rewards, 5000 points for every 5 transactions). I confirmed my eligibility for this offer and was told that yes, I was registered, and I have copies of all the screen prints confirming the offer, and details of the offer on the Amex Website as well. For me, I see that as very clear in both the intention of the promotion and the actual terms and conditions.
