A lot of people know I am a big fan of American Express (Amex) — I love their customer service, protection, and rewards. However, Amex gives only 1 point per dollar spend on most of their charge cards.
They have 3 charge cards:
AMEX GOLD Premier Rewards
In this post, I am going to show you a way you can get up to 4+ points per dollar on any of the 3 Amex charge cards!!
Transfer your membership points earned into an airline’s reward program.
Wait for a special offer from one of the airlines listed that you are interested in. Throughout the year, airlines on this list offer transfer specials like “for every 1 membership point you transfer you get 1.5 points” on their rewards program.
The current special offer is from British Airways. They fly direct to London and many European cities from Houston, where I live. I would like to take advantage of this offer. Their offer: 1.35 British Airways Avios for every 1 membership rewards points transferred.
So, how many points to transfer? I am going to give you an example using this British Airways’s transfer offer. I want to fly roundtrip from Houston to London on Business Class. To do that it costs 50,000 British Airways Avios each way (plus taxes) – I’m looking at 100,000 British Airways Avios points to get it done.
So I need: 100,000 Avios / 1.35 = 74,075 membership rewards points.
74,075 membership points is all I will need to get 100,000 British Airways Avios miles.
Create an British Airways Avios free membership profile on their website. Then, call Amex customer service and have them transfer the points to British Airways.
How much bang for your buck did you get?
Using the card’s basic 1:1 points per dollar spent I get about $740.75 in value if I decide to cash the points into gift cards. 10,000 membership rewards points gets you a $100 gift card. This is what most people do, and it’s the worst thing you can do with your points.
Here you see that a round trip ticket from Houston to London on Business Class is worth about $3,225 not including the taxes. This is what we saved by using 100,000 British Airways Avios miles.
So, how much bang for our buck did we get???
$3,225 (money we saved ) / $740.75 (what normal conversion rate of the points are) = 4.35!!!
So, we got 4.35 points per $1 spent on our Amex!!!