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I got the Amex gold recently and it had a 50k MR sign up bonus. I intend to use it on 4x dining but apparently the points are worth a lot less when redeemed for cash/amazon.
Whats the best way to maximize the points? I'd like to at least get 1:1 ratio on it. The only way I saw online was by travel, but I don't fly often.
Travel is the best use of MR points when redeeming them. As you discovered using them for other means like cash redemption and Amazon only give you like 60% of its value I believe. If you're not much of a traveler, business or otherwise, you're probably better off with a card like the Savor or Uber card which can give you 4% cashback on dining. The Savor also comes with the $500 SUB for $3k spend last time I checked which sounds like it fits a lot better for your needs.
How would I do the transfer to an airline partner?
@Anonymous wrote:
First you need to have an account with airline, then log in to Amex, goto membership reward, click transfer.
Only transfer when you are ready to purchase ticket. Don't transfer before you have done search and ready for purchase.
Know you can transfer to one airline then book ticket through that airline but fly on its alliance airline flight. E. G., you can transfer to British airline then book ticket for AA flights (limitation applies) .
OP does not fly often. That much is clear.
However, if OP consistently flies one airline (whenever he or she actually does fly), then converting points to miles during a transfer promo may possibly make sense.
If OP is not loyal to any particular airline or alliance, then it's best to wait to transfer them.
if you dont fly then the true value is 0.7. Other options are get Morgan Stanley CC or schwab plat card and transfer points to brokerage account (neither is without effort) to get 1 to 1.25c . I have pretty much used MR for JetBlue transfers (1.4-1.5) or if i find a cheap delta flight for 1.1 or 1.2.
@Anonymous wrote:I got the Amex gold recently and it had a 50k MR sign up bonus. I intend to use it on 4x dining but apparently the points are worth a lot less when redeemed for cash/amazon.
Whats the best way to maximize the points? I'd like to at least get 1:1 ratio on it. The only way I saw online was by travel, but I don't fly often.
Unfortunately, if you don't travel, it probably isn't the best fit. You should just go for one of the several dining cash back cards i.e. Uber, Savor, Costco, etc. MR points really only get 1:1 for travel transfers and a limited selection of gift cards. Anything else is less than that, meaning your 4x dining would really be more like 2x or 3x when you actually redeem.
MR points are really designed and best for travel redemptions. Since you already got the card, maybe save up the points for a future trip? You do have the AF to factor in though. All in all if you just want a dining card and don't do much traveling I think a cash back card would be better and not cost you anything (or at least, a lower AF in the case of the Savor).
At least you got 50k points so at the worst, they are going to be worth ~$250 or so and you can decide what to do from there. To me sounds like it isn't a great fit for you though.