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I was really dismayed today when I logged into my account to try to redeem my MR points. All of my other rewards program basically give you the same thing $1 = 1 point, which AMEX claims as well. However, when I went to redeem for a statement credit, I noticed something funny. Expecting to redeem my 10,000 points for a $100 statement credit like my Hooters and my Chase Free Cash card, it says I have to have 20,000 points to get this much cash. In effect this is a .5% cash reward, when all other rewards cards give you at least 1%. I thought, well maybe they have fair prices for a video game or something. Nope. Madden '09 is 10000 points. In my mind, this is more than the $50 shelf price.
Anyways, I have a Blue and a Green. I am thinking I might just get rid of the Green. I have spent over $10,000 on it since getting it in May, but that seem like they are cheating me. I guess I really should have looked into what the $1 = 1 point really meant before applying. Since the Blue has no AF, I think I would only use it to rent cars, since I do like the AMEX Premium Car Rental protection.
I got my Green so that it wouldn't count against my utilization and I wouldn't have to play the pay before the statement cuts game. What do you guys think about the rewards program or my idea to axe the Green?
heirophant wrote:
Just a note. I am not swapping. I already have a Blue and a Green. I am just considering axing the Green because I don't think it justifies the AF.
I have posted many times over the past year concerning this. One can make Amex rewards work for them but I also learned years ago that basically cashing out points reduces their value.
When I wasn't traveling so much I just applied points to payment and then one day I woke up and saw what was going on. That was when I began to really get value by studying all the hidden perks.
NMN
@heirophant wrote:I was really dismayed today when I logged into my account to try to redeem my MR points. All of my other rewards program basically give you the same thing $1 = 1 point, which AMEX claims as well. However, when I went to redeem for a statement credit, I noticed something funny. Expecting to redeem my 10,000 points for a $100 statement credit like my Hooters and my Chase Free Cash card, it says I have to have 20,000 points to get this much cash. In effect this is a .5% cash reward, when all other rewards cards give you at least 1%. I thought, well maybe they have fair prices for a video game or something. Nope. Madden '09 is 10000 points. In my mind, this is more than the $50 shelf price.
Anyways, I have a Blue and a Green. I am thinking I might just get rid of the Green. I have spent over $10,000 on it since getting it in May, but that seem like they are cheating me. I guess I really should have looked into what the $1 = 1 point really meant before applying. Since the Blue has no AF, I think I would only use it to rent cars, since I do like the AMEX Premium Car Rental protection.
I got my Green so that it wouldn't count against my utilization and I wouldn't have to play the pay before the statement cuts game. What do you guys think about the rewards program or my idea to axe the Green?
Message Edited by heirophant on 02-04-2009 03:38 PM
Sure,
A good example is when I discovered how to use shopamex. I don't really like to shop on line much so I ignored it for maybe a year. One day my printer bites the dust. I go out looking and find a great hp for about 400 which of course is ridiculous. I came home thinking of this and for some reason ended up on shopamex. I had written all the info down. I went to Best Buy through shopamex found the printer for much less than in the store. Take to any store if not right and wanting to return, so no risk ordering online. No hassle.
The good part : on that occasion I was getting my printer for a lot less and making 4x the points because I did it through shopamex. There are constant point specials and they are for real purchases that we make at real stores. From Neiman Marcus to Mike's Pawn shop they are all there. And don't forget, you are extending your warranty, getting more points, and saving on the purchase.
This aspect is only limited by what you need and how creative you are with it. I like the idea of going out shopping at real stores and coming home with my model numbers and buying for less plus points. Most of the time no shipping charges or tax either.
Now my other hidden source is travel. I use almost all my points on travel and make them as well by going on Amex travel and find bargains and specials. We always need a car. I go to the car sites and check prices and then go back to Amex so that I will know if I am getting the lowest price , plus making 2x and 3x the points on travel charges. I also check the SPECIALS area of travel for deals both points and price for restaurants and hotels , activity sites.
Also on the travel site, I am signed up for price changes on my five favorite destinations. If any of those drop below "my can't stay home this cheap" level then off I go. I've had some great moments that way.
Sum it up with, I am not a coupon clipper, so if this sounds like trouble , it is not or I wouldn't do it. If I need a flight I do look for at least three days usually a week. I do this about all things because I have found that all sites look different the next day , just like this one. So one day you see nothing and the next there is a great deal.
I don't do things to make points....I use points to do things and almost always you make more points while doing things, more so that just spending at the grocery. I think their system is evidence of coming out of a company that historically has been about travel. Travel , in my opinion is probably the key to who benefits the most .
I hope anything in this long winded post might click for you , but if not I am sure you know how to find what you are looking for.
NMN
ps You are correct, I have never had any use for the MR redemption area. In fact it kept me from digging deeper and finding other places like the travel specials on the lower left side of one of the travel pages. (I don't think it is the opening page but may be)
@heirophant wrote:
Can you give me any ideas of where to find these
They do have a number of retail gift card options at 1 point = $.01, including Barnes & Noble (for your video games).