A new round of targeted Amex offers is letting cardholders knock as much as half off an Amazon purchase, and the entry price is unusually low: just 429 Membership Rewards points. The Points Guy reports some staff members were targeted for the full 50% off (capped at $50), while others saw a more modest 15% off (up to $15) or nothing at all.

The 429-point threshold is a genuine improvement on recent versions of this deal. In July, shoppers needed 1,429 points to trigger the discount, and last November it took 714. At one point the requirement was a single point, so these offers clearly shift around — worth checking whenever one pops up.

Redeeming Membership Rewards points on Amazon is normally poor value compared with transferring them to airline or hotel partners, so the advice here is not to drain your balance. Instead, activate the offer and use the minimum number of points required at checkout, then pay the remainder with an eligible Amex card such as the Platinum or Gold. An Amazon gift card balance can also cover part of the remaining total.

There are a couple of welcome changes to the fine print. The discount used to apply only to items sold directly by Amazon, but the terms now cover 'a wide selection of eligible products', so third-party listings may qualify. The flip side: the offer previously worked on third-party gift cards, which no longer appears to be the case.

To take part, link your eligible Amex card to your Amazon account (via the Amex app or Amazon's website), check for a targeted offer, activate it, and load your cart with eligible items. The discount should appear at checkout.

It's also worth knowing that Amex isn't the only programme running these promotions. Past Amazon deals have included 40% off (up to $20) with Discover rewards, 50% off with a single Citi ThankYou point, up to $20 off with one Capital One mile, and 50% off with 100 Chase Ultimate Rewards points. On top of that, some cardholders can stack a separate Amex Offer — one example gives 1,200 bonus Membership Rewards points on a $150 Amazon spend — and occasional targeted discounts hide on individual Amazon product pages, so it pays to look around before you buy.

For anyone sitting on a stash of points, this is a low-effort way to shave real money off everyday purchases or early holiday shopping — just don't spend more points than the offer requires. Details were first reported by The Points Guy.