PRG offer question

[Josh611]

Just got an offer for the Amex PRG for 50,000 points for $1k spend in 3 months. It says equal to $500 towards your next trip or gift cards. If getting gift cards, would I get the full $500? Also, is the 50,000 worth more depending on how I use the points?

[Mattopotamus]

50,000 would be worth at least $500.  You could transfer it to travel parterns and make it worth more than $500.  Sometimes they give you deals for giftcards or other merchandise making the 50,000 points worth more.  

[CreditCuriosity]

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@Josh611 wrote:
Just got an offer for the Amex PRG for 50,000 points for $1k spend in 3 months. It says equal to $500 towards your next trip or gift cards. If getting gift cards, would I get the full $500? Also, is the 50,000 worth more depending on how I use the points?

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I would suggest googling best use of membership reward points to catch yourself up on best redemption values before applying for this card and not knowing how MR's are best used, many good sites out there of bad value, decent value, good value and excellent value on how to use them. Transferring to partner is by far a WAY better way of using them then cash or a gift card you can get up the around 5-7 Cents per point if used correctly on a travel partner if traveling is what you do.  If traveling isn't a part of your lifestyle then other cards might be a better fit for you.  

[Anonymous]

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@CreditCuriousity wrote:

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@Josh611 wrote:
Just got an offer for the Amex PRG for 50,000 points for $1k spend in 3 months. It says equal to $500 towards your next trip or gift cards. If getting gift cards, would I get the full $500? Also, is the 50,000 worth more depending on how I use the points?

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I would suggest googling best use of membership reward points to catch yourself up on best redemption values before applying for this card and not knowing how MR's are best used, many good sites out there of bad value, decent value, good value and excellent value on how to use them. Transferring to partner is by far a WAY better way of using them then cash or a gift card you can get up the around 5-7 Cents per point if used correctly on a travel partner if traveling is what you do.  If traveling isn't a part of your lifestyle then other cards might be a better fit for you.  

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listen to this man.

[Ghoshida]

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@Josh611 wrote:
Just got an offer for the Amex PRG for 50,000 points for $1k spend in 3 months. It says equal to $500 towards your next trip or gift cards. If getting gift cards, would I get the full $500? Also, is the 50,000 worth more depending on how I use the points?

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I got the same offer and accepted it.

Gift card values differ. For example, a Delta GC is $50 for 7,143 points while a Barnes & Noble GC is $50 for 5,000 points.

Also remember that often you can buy GCs online or from a retailer at a discount, so paying high value at AMEX doesn't necessarily make sense. Other cards such as Discover offer GCs at 20-50% discount.

A much better "worth" can be achieved by transferring to frequent flier accounts. You need to do a little bit more research, but points can be transferred to AMEX partner airlines or hotels. I personally prefer Singapore Airlines. 30,000 points + $5.60 fee gave me a one-way business class (they call it first class) ticket on United Airlines from Austin to Kahului, worth $850 on cheapest travel sites. Used properly, 50,000 points can land you upwards of $1,000 value, but it takes a bit of time (not a lot) and some travel spending. 

[Josh611]

I do not travel much at all. Maybe once a year. I would like to take a vegas trip this summer but the only "travel expense" I would have is the flight since we have someones house to stay at. I will have to look up the transfering them to different partners idea. Haven't read much about that.

[Ghoshida]

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@Josh611 wrote:

I do not travel much at all. Maybe once a year. I would like to take a vegas trip this summer but the only "travel expense" I would have is the flight since we have someones house to stay at. I will have to look up the transfering them to different partners idea. Haven't read much about that.

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One more thing: You may come across very high valuations with partner airlines etc. but often such valuations are on premium classes of travel, like first class, and need some advance planning to do.

[Anonymous]

Yep, your points are worth at least $500, although you can almost always extract higher value from them.

For example, I am in the process of helping my girlfriend book her flight for the summer abroad.

51k transferred to Delta at 1:1 can get you a roundtrip economy ticket from Detroit to Amsterdam from May 1 - June 1 (after ~$80 in fees).

As the sticker price for that approximate date ranges from $1,00 to $1,300, we are getting a value of ~2 cents for each point. 

Look for whatever valuable redemption suits your needs! Plenty of options with MR points.

[Josh611]

Went ahead and got it. I will find a good use for the points one way or another. Even if its just giftcards, I wouldn't have to pay to eat out for over half the year. That is a huge plus.

Question though, will they overnight the card to you for free if asked? Or speed the process up? When I got my BCE it took like two weeks lol.

[CreditCuriosity]

It should be overnighted to you without asking you might get it tomorrow or the following day depending when the cut off time is for them as I am not sure, but it is overnighted