AMEX Gold...

[Anonymous]

Seems to be a popular cards on this board.  I had the regular gold card, was always on the fence about closing it, then I was given an offer to upgrade to the Premeire version which came with a sign-up bonus so I jumped at it.  Enjoy the rewards system, but the rewards redemption process is a little disappointing.  What are some of the best ways you all are redeeming points with this card? 

[jbsilva21]

I use the points to either make Amazon purchases or book travel through Amex portal. You can use them for statement credits but its not the best use for them.

[Loquat]

I tend to use MR points to try and score an awards seat on an airline...and that can be a task in and of itself.  Outside of that I use them to top off hotel points from time to time.

[mongstradamus]

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@Anonymous wrote:

Seems to be a popular cards on this board.  I had the regular gold card, was always on the fence about closing it, then I was given an offer to upgrade to the Premeire version which came with a sign-up bonus so I jumped at it.  Enjoy the rewards system, but the rewards redemption process is a little disappointing.  What are some of the best ways you all are redeeming points with this card? 

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You really should look at how you will be using MR before applying or using their cards. Best use case are J or F class flights overseas in general. 

[wasCB14]

MRs to British Airways Avios during two +40% promos. I use them on AA flights.

[PointsBonus]

The new Gold card now has higher MR awards as well. 

[UpperNwGuy]

You are asking the right question.  I had to learn the hard way.  I earned a bunch of MRs and couldn't figure out a way to redeem them.  I travel often, but not on the airlines that partner with Amex, and I rarely stay in chain hotels.  I finally dumped all my MRs into Jet Blue Airlines at a 1:0.8 transfer rate and then closed my Amex cards.

If I lived in a city with good service by Delta Airlines, I would have kept the Amex cards.  The Amex-Delta partnership is a good one, but it wouldn't work for me because of where I live.

[mkhan1093]

There’s no doubt that the best redemption value for MR points is international flights in business or first class. If that’s not your thing then the next best thing I can see is you applying for Charles Schwab version of the Platinum, which allows you to cash out at.a rate of 1.25cpp, as opposed to the paltry 0.6cpp which you’d otherwise be able to do. But that comes with its own high AF.

[CBartowski]

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@Anonymous wrote:

Seems to be a popular cards on this board.  I had the regular gold card, was always on the fence about closing it, then I was given an offer to upgrade to the Premeire version which came with a sign-up bonus so I jumped at it.  Enjoy the rewards system, but the rewards redemption process is a little disappointing.  What are some of the best ways you all are redeeming points with this card? 

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So I just recently entered the MR ecosystem for literally one reason...the Schwab Platinum that gives an extra 25% value to points you redeem for cash into a Schwab Brokerage account. To me, that is straight up money on the table. Tho I need to run some more numbers to see if it makes sense and how much I need to spend to make the AF worth it, it is my little experiment.

Now I have the Gold to amass the 4x on food and groceries, soon I will get the schwab plat once I meet the whole $1,000 of min spend for my 50k MR then will decide when to get the Schwab Plat. I currently have the CSR and love it. I will likely cash out most of my points from UR to cash at 1:1 and send them into Schwab as well, tho that is still a decision point. Need to make sure it's 1:1.

Long winded, my apologies, but it's my take, hope it helps.

[UncleB]

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@CBartowski wrote:

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@Anonymous wrote:

Seems to be a popular cards on this board.  I had the regular gold card, was always on the fence about closing it, then I was given an offer to upgrade to the Premeire version which came with a sign-up bonus so I jumped at it.  Enjoy the rewards system, but the rewards redemption process is a little disappointing.  What are some of the best ways you all are redeeming points with this card? 

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So I just recently entered the MR ecosystem for literally one reason...the Schwab Platinum that gives an extra 25% value to points you redeem for cash into a Schwab Brokerage account. To me, that is straight up money on the table. Tho I need to run some more numbers to see if it makes sense and how much I need to spend to make the AF worth it, it is my little experiment.

Now I have the Gold to amass the 4x on food and groceries, soon I will get the schwab plat once I meet the whole $1,000 of min spend for my 50k MR then will decide when to get the Schwab Plat. I currently have the CSR and love it. I will likely cash out most of my points from UR to cash at 1:1 and send them into Schwab as well, tho that is still a decision point. Need to make sure it's 1:1.

Long winded, my apologies, but it's my take, hope it helps.

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I agree that the Schwab Platinum is a good option for cashing-out MRs, but the irony is that most people who would have a use for a Platinum to begin with would also have a use for the MRs, and wouldn't need/want to cash-out.  This is because the Platinum card benefits are geared towards people who travel, and MRs are usually valued the highest when used for travel (as was mentioned earlier).

Some people have talked about getting a Schwab Platinum when they are planning to exit the MR system (to "cash out") which can be a good option for some as well.