topic Re: AmEx Cash Rewards or MR Points? in Credit Cards

AmEx Cash Rewards or MR Points?

BronzeTrader — Tue, 20 Dec 2016 02:24:21 GMT

I'm light with AmEx, so I have potential.

I notice AmEx has either cash rewards card, like BCE/BCP, or the MR point cards, such as AmEx Everyday (or Preferred). Do the MR points comparable to the cash rewards, point to cent compared?

Re: AmEx Cash Rewards or MR Points?

myjourney — Tue, 20 Dec 2016 02:43:32 GMT

Cashback rewards are a set redemption ....You're not getting any more than the set value

MR points are whatever best value you can get out of them but at worst redemption.......anywhere from 1-2% depends on your skills and or the choices you make

I've seen even higher redemptions so don't feel 5% is a max number just an example

I've also seen those that like flying say econ and are pleased taking more flights or longer hotels stays for their buck vs one big first class trip all around

What's your preference? Skies the limit .....Get it? Lol

Re: AmEx Cash Rewards or MR Points?

BronzeTrader — Tue, 20 Dec 2016 02:52:55 GMT

It seems the Cash reward CCs are newer than MR CCs?

Re: AmEx Cash Rewards or MR Points?

Anonymous — Tue, 20 Dec 2016 03:13:14 GMT

depends what you would use them for.

I plan on sticking with MR and Chase UR because for me to redeem them for airline tickets is great... I can use MR to book flights to Korea on Delta/Korean Air, and UR to book flights here in the states via Korean Air on Delta

Doing that is actually fewer miles than using the points directly for their own flights (IE booking domestic flights with Delta costs more miles than if I do it via Korean Air, and vice versa)

Re: AmEx Cash Rewards or MR Points?

BronzeTrader — Tue, 20 Dec 2016 04:18:30 GMT

@Anonymous wrote:
depends what you would use them for.

I plan on sticking with MR and Chase UR because for me to redeem them for airline tickets is great... I can use MR to book flights to Korea on Delta/Korean Air, and UR to book flights here in the states via Korean Air on Delta

Doing that is actually fewer miles than using the points directly for their own flights (IE booking domestic flights with Delta costs more miles than if I do it via Korean Air, and vice versa)

This may be my 3rd programs to build upon, after Chase UR 1.5x and BA Preferred Rewards 1.75x.

Re: AmEx Cash Rewards or MR Points?

Anonymous — Tue, 20 Dec 2016 05:19:30 GMT

I don't know how MR work, but I have personal experince with BCP/BCE.

CB on BCP/BCE redeem only in multiples of $25. On the other hand you have cards like Discover and CapOne QS which have no min redemption amount. This is the one thing I hate about Amex cards

Re: AmEx Cash Rewards or MR Points?

Anonymous — Tue, 20 Dec 2016 05:38:12 GMT

Makes sense though. I'm sure Amex doesn't want to waste resources on $3 redemptions.

Re: AmEx Cash Rewards or MR Points?

wasCB14 — Tue, 20 Dec 2016 06:05:25 GMT

@Anonymous wrote:
I don't know how MR work, but I have personal experince with BCP/BCE.

CB on BCP/BCE redeem only in multiples of $25. On the other hand you have cards like Discover and CapOne QS which have no min redemption amount. This is the one thing I hate about Amex cards

If a card takes a while to earn $25, it may offer fairly little in the way of marginal rewards. Sallie Mae holders don't often complain about the $25 minimum because it has real marginal value.

And if I have a card for a reason other than marginal rewards, waiting a while to redeem them doesn't bother me.

I have a BCE. I just redeemed rewards on it for the first time in over a year. Waiting didn't upset me because I was mostly just using it for offers.

Re: AmEx Cash Rewards or MR Points?

kdm31091 — Tue, 20 Dec 2016 11:36:57 GMT

The main issue with Amex's cash system is that it forces increments of $25. A $25 minimum by itself isn't a big deal if you are using the card with any regularity. It's the fact that you have to have either $25, or $50, or $75, etc to redeem. So you will basically never be cashing out all of your rewards, which I'm sure is intentional.

If it's a card you'll use regularly, it's not the end of the world, but they really should eliminate the increment requirement. It's clunky.

Re: AmEx Cash Rewards or MR Points?

redpat — Tue, 20 Dec 2016 12:57:43 GMT

Travel rewards will always give you a better reward because CCC buy in bulk or have arrangements with the travel industry.

They can't get cash for less.........Or maybe they could if they trade currencies.

Re: AmEx Cash Rewards or MR Points?

Anonymous — Tue, 20 Dec 2016 13:09:20 GMT

@BronzeTrader wrote:
It seems the Cash reward CCs are newer than MR CCs?

EDP/ED came out after the BC/BCE/BCP

ETA: The Blue card, which earns useless MREs unless you had a charge card, did come out first though

Re: AmEx Cash Rewards or MR Points?

wasCB14 — Tue, 20 Dec 2016 16:12:16 GMT

@kdm31091 wrote:
The main issue with Amex's cash system is that it forces increments of $25. A $25 minimum by itself isn't a big deal if you are using the card with any regularity. It's the fact that you have to have either $25, or $50, or $75, etc to redeem. So you will basically never be cashing out all of your rewards, which I'm sure is intentional.

If it's a card you'll use regularly, it's not the end of the world, but they really should eliminate the increment requirement. It's clunky.

I know a little is left unredeemed with increments...but if a card has a good earn rate, whatever remains today should be eligible for redemption by February.

Re: AmEx Cash Rewards or MR Points?

Schwartzinator — Tue, 20 Dec 2016 17:03:25 GMT

I have the BCE and I honestly regrett getting it over the ED. The $25 increments are actually really annoying and I Feel I get significantly more value out of my MR earning cards. The other positive of the ED is that you can close a charge card and maintain your rewards balance.

Re: AmEx Cash Rewards or MR Points?

Anonymous — Tue, 20 Dec 2016 17:32:56 GMT

As much as I love my BCP I am leaning towards closing it and moving the credit line to my ED. I am liking the MR points much more than the cash back, and if I decide to get rid of my PRG I can still keep my MR points.

Re: AmEx Cash Rewards or MR Points?

Anonymous — Tue, 20 Dec 2016 21:29:56 GMT

Me and my wife obtained the BCP May 1st since we know we'd come out with a net gain. While we have made about $260 since we opened it, we're going to end up switching over to the EDP for our gas, groceries, and "other/everything else" categories. Calculations shows that MR points would net us WAY more in return than what the BCP would.

It all comes down to what you're doing. You know what cash back is already, so research MR points and see if they can work for you!