New to Amex -- question about bonus points

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credit-utopia
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New to Amex -- question about bonus points

Postby credit-utopia » Thu Oct 23, 2014 2:55 pm

I just recently got approved for an Everyday card - my first card with Amex. (other than the corporate card I've been carrying around since '09)
My question is about the reward points. It says If I spend $1,000 in the first 3 months I will get 10,000 bonus points. Should I do it? What are they good for exactly?


yfan
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Postby yfan » Thu Oct 23, 2014 5:19 pm

You should have access to the Membership Rewards portal. Explore it and see what the points are good for. Generally, the Amex MR portal is considered one of the most valuable in this space.

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CarefulBuilder14
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Postby CarefulBuilder14 » Thu Oct 23, 2014 8:47 pm

10,000 MR points are worth:

$100 face value in retail gift cards - which you could probably buy with cash for maybe $80 or $90.

$70 credit on Amazon.

Anywhere from $50 or lower up to maybe $200 or $250 (depending on the flight or hotel selection) if you transfer the points to certain airline and hotel companies. Airlines usually offer more favorable deals, but the value varies enormously, so be careful.
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kcm7
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Postby kcm7 » Fri Oct 24, 2014 11:46 pm

If you'd spend $1,000 in the next 3 months anyway, do it. Even if you just cash in those points for cash (instead of the more complicated options like turning them into ff miles), that's money in your pocket. And, if you hit $1,000 in spend, you just get the points automatically -- no extra effort. It's surprising how easy it is to spend $1,000 in three months unless you're super frugal or spreading out your spending across multiple cards.
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takeshi
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Postby takeshi » Mon Oct 27, 2014 9:07 am

credit-utopia wrote:My question is about the reward points. It says If I spend $1,000 in the first 3 months I will get 10,000 bonus points. Should I do it? What are they good for exactly?

Best value per point is generally attained via transfer to a travel partner but, as stated above, value can vary so you have to be careful.

You really should do this research before applying. How did you determine that you wanted the Everday card if you did know about MR points?



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