Tag Archives: Credit Card

Why I love me some Amex Membership rewards

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

AMEX GOLD Premier Rewards

AMEX Platinum

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!!

Step 1:

Transfer your membership points earned into an airline’s reward program.

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Step 2:

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.

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Step 3:

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.

Step 4:

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.

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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!!!

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Southwest Credit Card offer!!!!!!!!

http://www.mychasecreditcards.com/T600-009/Default.aspx?LP=6000246&CELL=6ZZR&vanity=southwest/2ffpartnersplus

 

Southwest is bringing back, for a limited time only, their unbeatable Chase visa card offer!!!  But this one is slightly different than the one earlier this year.  This offer is valid for their “premier” card which has a $30 higher annual fee and you have to spend $1,000 in 3 months to be eligible.

Offer Breakdown:

50,000 points after you spend $1,000 in 3 months

$99 annual fee

So your next question probably is that how much is 50,000 points really worth?

Example of route:

Houston (HOU) to Los Angeles (LAX) dollar cost:

$356.70 total

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Houston (HOU) to Los Angeles (LAX)  Points:

18,900 Rapid Rewards pointsImage

 

 

say you do two round trips to Los Angeles from Houston, 37900 points, and you could pay one way to Los angeles also for your 3rd trip, 9719 points.

So your 50,000 points are worth dollar wise: $356.70 (two round trips) * 2 + $182.10 (one way) = $895.50!!!

 

NET GAIN is:

$895.5 – $99 annual fee = $795.5!!!!!!!

I would jump on this ASAP before offer is expired!