06-02-2013 08:15 AM
What's the best use for Amex Reward Dollars - can their value be enhanced through gift cards or something else? I know I have seen that with Discover but not on Amex. Just wanted to check if I had missed something - not sure I found anything on the forum either.
If I use them as statement credit, will they apply immediately? Will it count towards the montly payment? I only have a $75 payment due, which is the Annual Fee in its entirety - was wondering if it was safe to take a $75 statement credit and if that'll cancel out the entire payment for sure.
06-02-2013 08:58 AM
I know that you can buy gift cards for more than $1 worth of value per reward dollar. Not sure if that includes any popular store.
06-02-2013 09:52 AM
Hmm, yeah, I wasn't able to easily find anything on Amex's site.... not that options on Discover are attractive to me. If anybody has any suggestions, I'd love to hear. Otherwise, I guess statement credit it is.
06-02-2013 11:40 AM
Nah, I wasn't looking for gift cards in particular. Just wanted to make sure I wasn't forgoing some extraordinary value by taking a statement credit. Btw, yes, mine is for BCP.
06-02-2013 02:28 PM
For the Blue cash cards?
Statement credits! If you wanted GCs, you can use the statement credit to buy a GC at a lesser price from cardpool etc...
Occassionally they have gift cards on sale (i.e., 5% or 10% off of 1 reward dollar = $1). From the gift card page there will be a red-orange button in the right column "All Sale Items"--this will show you the only "good" deals (right now there are none, at least for me--don't know if it's targeted).
Open123 is right; take the cash as there are many better ways to generate a better discount than the 5% or so they give you off--and all those will give you points/miles/cash rewards again when you purchase the gift cards as well--not to mention you aren't limited to getting a card from a retailer that doesn't have the best price on what you want but you're stuck.
06-02-2013 04:48 PM
06-02-2013 05:48 PM
06-02-2013 06:04 PM
06-02-2013 06:27 PM
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