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AMEX - Using Points To Pay For Charges

FortifiedHM
Valued Contributor

Re: AMEX - Using Points To Pay For Charges


@soupy5 wrote:

@K-in-Boston wrote:

Yeah, Amex loves it when customers use Membership Rewards for statement credit at 0.6 cents per point, for gift cards valued between 0.7 and 1.0 cents per point, and for using them at checkout with retailers like Amazon, Best Buy, etc. for 0.7 cents per point.  They certainly wouldn't hold it against you! 

 

If you have hundreds of thousands of points just sitting there, consider a nice free vacation instead?  Smiley Happy


Well, just over 300K, 100 of which came with the card. Regarding vaactions, its funny - I did receive a promotional flyer/e-mail/something-or-other, offering vactions booked through AMEX Travel. When I looked into them, the point values these guys were asking were astronomical! Now granted, these were killer vacations, but that whole experience sort of engrained in my thinking that I'd need years of charges at my pace to get to the points needed for a vacay. Now that I'm REALLY looking into this, roughly $3K for travel (if I redeem all) can fly me somewhere and back and even stay indoors for a few nights :-)

 

Thanks K-I-B


Check to see if any of the amex points tranfer partner will improve the points value for you. Amextravel.com never gave me good deals.

 

For 300k MR, I personally can fly delta or AA (vie BA) for 10-15 domestic trips on economy, or 5 international trips on economy. Or if you want to do aspirational first class travel, 1 to 2 trips depending on detinations.

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Message 11 of 19
Cred4All
Valued Contributor

Re: AMEX - Using Points To Pay For Charges


@KJinNC wrote:

I opened this thread to say "turn back before it's too late," but I see you've looked into it some more and realized that's not a good value.

 

The Platinum is about as pure a travel card as exists, you weren't thinking about using the points for travel?

 

I transferred my 52,000 points into Delta SkyMiles ... then realized it wasn't enough for my upcoming trip, and won't be enough until I redeem the 35,000 SkyMiles for my Delta card welcome offer. Oh well, should have left them as MRs for now for flexibility, but I'm sure I'll find a use for the 87,000+ SkyMiles next year.


@KJinNC did you happen to see The Points Guy article about the delta vacation promotion going until today?  You get double the value for your SkyMiles if including a hotel in the vacation package. You may have enough!

 

Op, the temptation is real when it comes to just plunking your points onto a bill or gift card, but fight the urge....  one day the amazing redemption will make itself clear and you'll be on your way to Tahiti.


Message 12 of 19
dlister70
Frequent Contributor

Re: AMEX - Using Points To Pay For Charges

I had a small amount of points left and decided to use them to pay for an Amazon purchase.  I was a little annoyed that I needed over 3000 points for a $23 purchase.  But I wasn't going to use them for anything else, so I figured I might as well.  I originally got the Everyday card as a balance transfer card, but I did get some points for signing up and I bought a mattress with one of the AMEX offers to save $100 or something, so that gave me some points too.  I used most of the points for a hotel stay, but had a small remaining balance just sitting there. 

 

If you don't have enough points to do anything travel related, and you don't intend to earn more points by using the card, then that would probably be the only reason that I would consider using points for merchant pay or credit card statement.

Message 13 of 19
kdm31091
Super Contributor

Re: AMEX - Using Points To Pay For Charges

As stated, Amex points are really best for travel redemption. Failing that, instead of shop with points or paying your charges, look into the gift cards. Not all of them are a good deal, but you can get 1 cent per point on some of them, which is far better than the 0.6 per point value for redeeming against charges.

 

Amex won't be upset if you redeem against charges, though. They advertise the feature fairly heavily, since it's a poor value for the customer and a good value for Amex.

 

Ultimately, points are "found money" in my mind so even if you do get a poor value, you are getting something more than just having them sit there, so the decision is yours.

Message 14 of 19
longtimelurker
Mega Contributor

Re: AMEX - Using Points To Pay For Charges


@kdm31091 wrote:

 

 

Ultimately, points are "found money" in my mind so even if you do get a poor value, you are getting something more than just having them sit there, so the decision is yours.


Yes, this is true once you have them, but  you should have been thinking before you get there!  If you are getting 0.6cpp using a card that gave 1 point per $ on purchases, you would have done a lot better with a different card.    So yes, found money, but be prepared to learn from the experience!

Message 15 of 19
soupy5
Frequent Contributor

Re: AMEX - Using Points To Pay For Charges


@FortifiedHM wrote:

@soupy5 wrote:

@K-in-Boston wrote:

Yeah, Amex loves it when customers use Membership Rewards for statement credit at 0.6 cents per point, for gift cards valued between 0.7 and 1.0 cents per point, and for using them at checkout with retailers like Amazon, Best Buy, etc. for 0.7 cents per point.  They certainly wouldn't hold it against you! 

 

If you have hundreds of thousands of points just sitting there, consider a nice free vacation instead?  Smiley Happy


Well, just over 300K, 100 of which came with the card. Regarding vaactions, its funny - I did receive a promotional flyer/e-mail/something-or-other, offering vactions booked through AMEX Travel. When I looked into them, the point values these guys were asking were astronomical! Now granted, these were killer vacations, but that whole experience sort of engrained in my thinking that I'd need years of charges at my pace to get to the points needed for a vacay. Now that I'm REALLY looking into this, roughly $3K for travel (if I redeem all) can fly me somewhere and back and even stay indoors for a few nights :-)

 

Thanks K-I-B


Check to see if any of the amex points tranfer partner will improve the points value for you. Amextravel.com never gave me good deals.

 

For 300k MR, I personally can fly delta or AA (vie BA) for 10-15 domestic trips on economy, or 5 international trips on economy. Or if you want to do aspirational first class travel, 1 to 2 trips depending on detinations.


Thanks, Fortified - great tip! Much appreciated.



Current Scores Jul 2020 – FICO 8
Message 16 of 19
soupy5
Frequent Contributor

Re: AMEX - Using Points To Pay For Charges


@Cred4All wrote:

@KJinNC wrote:

I opened this thread to say "turn back before it's too late," but I see you've looked into it some more and realized that's not a good value.

 

The Platinum is about as pure a travel card as exists, you weren't thinking about using the points for travel?

 

I transferred my 52,000 points into Delta SkyMiles ... then realized it wasn't enough for my upcoming trip, and won't be enough until I redeem the 35,000 SkyMiles for my Delta card welcome offer. Oh well, should have left them as MRs for now for flexibility, but I'm sure I'll find a use for the 87,000+ SkyMiles next year.


@KJinNC did you happen to see The Points Guy article about the delta vacation promotion going until today?  You get double the value for your SkyMiles if including a hotel in the vacation package. You may have enough!

 

Op, the temptation is real when it comes to just plunking your points onto a bill or gift card, but fight the urge....  one day the amazing redemption will make itself clear and you'll be on your way to Tahiti.


That sounds good to me! I can't tell you how happy I am that I brought this to the Forum before plunging in :-)



Current Scores Jul 2020 – FICO 8
Message 17 of 19
soupy5
Frequent Contributor

Re: AMEX - Using Points To Pay For Charges


@dlister70 wrote:

I had a small amount of points left and decided to use them to pay for an Amazon purchase.  I was a little annoyed that I needed over 3000 points for a $23 purchase.  But I wasn't going to use them for anything else, so I figured I might as well.  I originally got the Everyday card as a balance transfer card, but I did get some points for signing up and I bought a mattress with one of the AMEX offers to save $100 or something, so that gave me some points too.  I used most of the points for a hotel stay, but had a small remaining balance just sitting there. 

 

If you don't have enough points to do anything travel related, and you don't intend to earn more points by using the card, then that would probably be the only reason that I would consider using points for merchant pay or credit card statement.


Great advice.



Current Scores Jul 2020 – FICO 8
Message 18 of 19
soupy5
Frequent Contributor

Re: AMEX - Using Points To Pay For Charges


@kdm31091 wrote:

As stated, Amex points are really best for travel redemption. Failing that, instead of shop with points or paying your charges, look into the gift cards. Not all of them are a good deal, but you can get 1 cent per point on some of them, which is far better than the 0.6 per point value for redeeming against charges.

 

Amex won't be upset if you redeem against charges, though. They advertise the feature fairly heavily, since it's a poor value for the customer and a good value for Amex.

 

Ultimately, points are "found money" in my mind so even if you do get a poor value, you are getting something more than just having them sit there, so the decision is yours.


Great perspective, thanks!



Current Scores Jul 2020 – FICO 8
Message 19 of 19
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