cancel
Showing results for 
Search instead for 
Did you mean: 

Amex Zync Points vs Rewards?

tag
bichonmom
Senior Contributor

Amex Zync Points vs Rewards?

I am really confused about this. I understand Navy's 1% cash back. That's easy and straightforward. But Amex Zync's points has me completely baffled.

 

I *thought* double points was like 2%. So, if I spend $10 at Chipotle, I should get back 2% in rewards (or 20c). From what I've read, I gather that's not right, but I don't really get how it does work.

 

I need to figure out if it's worth it for me to be using my Zync instead of Navy. Or when to use which card.

 

Could someone please explain how the point system works w/Zync?

 

Thanks! Smiley Happy

 

 

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 1 of 18
17 REPLIES 17
JustMe77
Frequent Contributor

Re: Amex Zync Points vs Rewards?


@bichonmom wrote:

I am really confused about this. I understand Navy's 1% cash back. That's easy and straightforward. But Amex Zync's points has me completely baffled.

 

I *thought* double points was like 2%. So, if I spend $10 at Chipotle, I should get back 2% in rewards (or 20c). From what I've read, I gather that's not right, but I don't really get how it does work.

 

I need to figure out if it's worth it for me to be using my Zync instead of Navy. Or when to use which card.

 

Could someone please explain how the point system works w/Zync?

 

Thanks! Smiley Happy

 

 


It's 2%. If I buy something at Chipotle or Whole Foods for $12, Zync gives me 24 points for the purchase (12 through the eco pack, and 12 for the purchase). The eco pack points will not show up as pending for a few days.

 

1000 points will get you $10 of rewards if you redeem with one of the gift card options (it's less if you want an Amex gift card).  

 

Current Cards: Banana Republic Visa ($5,300), Chase Freedom ($2,000), Discover It ($11,500), Amex Costco True Earnings ($5,000), Chase Slate ($2,500)
Message 2 of 18
Open123
Super Contributor

Re: Amex Zync Points vs Rewards?

You get a point for every dollar spent, and a bonus point for any associated packs.

 

For example, let's say you have the Eco and Restaurant Packs.  You dine at "We Make Everything Organic" restaurant and spend $75.00 on a Tofu burger.  You get 75 points for the dollars spent.  75 bonus points for the restaurant pack.  And, 75 points for the Eco pack.

 

The 150 bonus points will post immediately, while the $75 for the meal will post after the bill's closing date.

 

If you redeem for gift cards, it'll be 10,000 MR points for a $100 gift card.

Message 3 of 18
Anonymous
Not applicable

Re: Amex Zync Points vs Rewards?

Generally, you get 1 point per dollar.  Double points would be 2 points per dollar.  Converting this to cash depends on how you redeem points.  The highest ratio with express points comes from redeeming them for gift cards at a penny per point.  Other redemption methods will generally be lower, like at Amazon.com the redemption rate is like 7/10 of penny per point.  Redeeming with "pay with points" for travel is even less.  

Message 4 of 18
bichonmom
Senior Contributor

Re: Amex Zync Points vs Rewards?

Okay, so I had the points part right. I guess the confusion comes with the redeeming part. You have to *want* what they're offering, and if you want cash back (which is really what I want), then you get less than the 1 or 2%.

 

Is there somewhere on Amex's site (or does someone know) the minimum number of point you have to have to redeem them?

 

Also, where does it show you what is available for the points? I've searched high and low and can't seem to find that either.

 

Thanks! Smiley Happy

 

 

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 5 of 18
Anonymous
Not applicable

Re: Amex Zync Points vs Rewards?

The only time I saw something about redeeming points for a blanket statement credit was that it had to be done in increments of 20,000 points for $100.  But, I haven't looked into that option much.  I know you can use points to pay for certain types of charges, but the ratio isn't that great, I *think* it is about 6/10 a penny per point.

Message 6 of 18
improvingmycredit
Valued Contributor

Re: Amex Zync Points vs Rewards?


@bichonmom wrote:

Okay, so I had the points part right. I guess the confusion comes with the redeeming part. You have to *want* what they're offering, and if you want cash back (which is really what I want), then you get less than the 1 or 2%.

 

Is there somewhere on Amex's site (or does someone know) the minimum number of point you have to have to redeem them?

 

Also, where does it show you what is available for the points? I've searched high and low and can't seem to find that either.

 

Thanks! Smiley Happy

 

 



Hello Bich!  First, make sure you have enrolled in the Amex Membership Rewards.  You will not start earning rewards till you enroll. 

Once you have enrolled, you will see to the right of your account information on the main page a box labeled:  "Rewards"

Under this tab, all your MR or MRE points available will be listed. 

You won't have anything available till you first statement cut but you can look at your pending points by following the "Rewards" link.

Maybe someone here can post a screen shot for you.

 


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Message 7 of 18
bichonmom
Senior Contributor

Re: Amex Zync Points vs Rewards?

Thanks! I just checked and I do have the Membership Rewards and Costco Cash Back listed. So, there is one for each card.I clicked on a link in that section and found a page with info about redeeming points.

 

Okay, I think I figured it out. It's not great. Frankly, I think I'm still going to do most of my spending on Navy.

 

Here's what I figured:

 

Spend $5k on Navy = $50 cash back. Plus, you can redeem anytime. You don't need to wait until you've spent $5000! (They may have a min of $10 or something, but I spend over $1k a month on the card, so that wouldn't affect me.)

 

Spend $5k on Amex = 5000 pts = $25 Amex gift card.

 

Even with 2x points, Spend $5k on Amex = 10,000 pts = $50 Amex gift card. So, then it's even with Navy's rewards.

 

I guess if I wanted the other rewards, it might be better. I haven't looked at what they have and compared the value. For me, I just really wanted the cash back. It kind of defeats the point of rewards if I'm "spending" the points on something I wasn't going to get anyway. I realize that's not true for everyone. That's just my take on it.

 

Another example, the B&N gift card is $50 for 5000 points, so in that case, it might be worth it. I guess I just need to decide what I would want to spend the points on and decide if it's worth it for me.

 

Thanks for the help. Now at least I understand how they work, so I can decide how I want to use the card. Smiley Happy

 

 

 

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 8 of 18
Open123
Super Contributor

Re: Amex Zync Points vs Rewards?

If cashback is your choice, the MR cards are not a good option.

 

Chase UR rewards allow you to redeem cash at the same level, but not Amex.  For Amex, any statement credits, cash gift cards, or spending points on travel will be very underwhelming.

 

For your MR Express points (unless you were upgrading them to full MR for travel in the future), I'd wait at least until I have 2500 and redeem a $25 gift card of your choice.

Message 9 of 18
bichonmom
Senior Contributor

Re: Amex Zync Points vs Rewards?

Yeah, I think that's what I'm going to do. I'll use the card a little bit, but Navy is still my main card. If I spend $200 a month with 2x pts, then in a year, I'd have enough for a $50 gift card to B&N. I kind of regret getting the Zync now, except that it's still worth it for the backdating alone.

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 10 of 18
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.