Amex just sent me this offer:
"For eligible purchases made between 31 August 2018 and 14 September 2018, if you pay them off by using your Membership Rewards points you'll enjoy 30% more points value."
Is this a good way to use points?
Are there other ways to redeem points that offer greater value than the 30% boost?
Any if there's nothing else you would have otherwise paid for, do use the points to pay off purchases.
The standard conversion is 1,000 Membership Rewards points = 7 dollars credit.
With the 30% boost, the 1,000 points should = $9.10.
Those are only for purchases made at participating Vogue Fashion Night Out stores, no?
Conversion of points to cash (or anything close to cash) is never good value. If you travel, convert the AMEX points to FF points when there's a promotion and use it for an upgrade.
It depends what you mean by good value. If you would not otherwise have gone on an expensive trip, you shouldn't let them talk you into it just by giving you points. If you're on a tight budget, using Amex points to pay off a credit card balance or FlyBuys points to buy groceries is the sensible thing for you to do.
It depends what you mean by good value
I meant, "good value" compared to the other things that the points could be used for. Redeeming for cash is usually the lowest value way to redeem the points.
If you're on a tight budget, using Amex
It's probably old school thinking, but I'm used to thinking that people who use Amexs are generally not tight on their budgets.
1000 Membership Rewards points = $9.63 using this promo rather than the normal rate of $7.41.
This is a decent rate. I have the offer on my Amex Gold card where 4 points = 3 VA or SQ points if you transfer to those programs. This offer is better than that. It is also a guaranteed return whereas FF points can be hard to use.
Look, 30% increase at 0.0096 is not bad
My suggrstion
If you're going to
-let the points expire
-buy stuff you don't need
-buy a toaster
- buy gift cards
Then this is a far better deal
If you're going to
- fly business class
- fly first class
- even fly economy to anywhere
The redemption is 99% better than 0.0096
| The redemption is 99% better than 0.0096
I find that exceptionally hard to believe.
If you can't get above 0.01 using it for travel.
You are exceptionally bad at it.
It would actually be a challenge for me to find one below that ratio
I don’t travel, so I think this is a great deal. I converted mine.
But as others says, if u are a flyer, you should get better value using it on flights.
What is the baseline for the 30% increase?
Suggest you work out the value in $/point and compare it to using points for other things that you would have otherwise paid for (e.g. flights, hotels).