Amex MR Points to Cashback?

[TyRacing]

Can the Amex MR points be redeemed as Cashback or Gift cards? and If so will the value go down?

[Anonymous]

Usually not recommended because it's only a .6 cent per point vs travel that can get you upwards of 2 cents per point.

[SBR249]

You can use MR points to cover charges on your AmEx card or buy gift cards or pay with points at select online retailers like Amazon, Walmart, Newegg, etc. 

But using your MR points in those ways are not great ideas. Looking at my account, to cover a $9.99 charge on my AmEx ED, they wanted 1665 MR points. That works out to be 0.6¢ per point. 

To use points at Amazon, the conversion rate works out to be close to 0.7¢ per MR point. 

To buy an iTunes gift card, the rate is around 0.85¢ per MR point. 

As you can see none of those options even break the 1% cashback threshold. TPG values MR points to be close to 2¢ per point if you redeem for travel rewards like transferring to airline partners so using them for cashback or gift cards is exceptionally poor value. 

[Anonymous]

get Schwab Platinum 1.25 cpp.

[wasCB14]

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@Anonymous wrote:

get Schwab Platinum 1.25 cpp.

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I consider that "point value insurance" only (in the event my travel slows). It would be a big AF with a lousy earn rate for someone who doesn't fly much.

[Anonymous]

CB14 the most efficient thing to do once you have a ton of points and wanna put in motion a good way to cash out is to get the Schwab Platinum, nab the 60k point SUB, cash in all of your MR points, then after the first year close the card.

But personally I think I'd rather just pool MR points for travel and leave the cash back to the cash back cards.

[NRB525]

Redeeming MR for gift cards makes Delta SkyPesos look like a rich reward.

[UpperNwGuy]

Don't do it.  MR points are only worthwhile if they're used for travel.  Otherwise, get the Schwab Platinum and go that route.

[wasCB14]

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@Anonymous wrote:
CB14 the most efficient thing to do once you have a ton of points and wanna put in motion a good way to cash out is to get the Schwab Platinum, nab the 60k point SUB, cash in all of your MR points, then after the first year close the card.

But personally I think I'd rather just pool MR points for travel and leave the cash back to the cash back cards.

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OP's signature doesn't show any Amex products, so unless OP has just closed such a card or faced AA, there is no existing pool of points to cash out.

[Anonymous]

Sure, but he was asking about the value of cashing out MR points and to reiterate getting the Schwab Platinum is the most efficient way to do that - even if you have no preexisting points you can still cash out the sign up bonus. But that's moot because whether he has or not any preexisting MR points he was still asking about the value of cashing out.