[/size][INDENT] An Honest Disclosure: Please note that this website has a financial tie to American Express since we occasionally choose to advertise some of their cards.
To begin with, it is extremely easy to earn points:
- In most cases, you will earn a point for every dollar you spend on your card. In the case of some cards, you may earn up to 1.25 points per dollar spent on regular purchases.
- On specific categories of spending, you may be able to earn 2 to 3 points for every dollar spent. One such card is the AmEx Gold.
- All AmEx cards participating in the Membership Rewards program offer the ability to earn unlimited points that never expire. This means you can keep accumulating reward points over many months or even years and then indulge in a truly unique experience.
The Membership Rewards Program is perhaps best suited to people who travel extensively. Amex is partnered with more airline and hotel partners than any other credit card issuer.
This means that you you have the option of transferring your Amex reward points into a frequent flier program of your choice (at least a dozen different airlines participate) or you can use the "Pay With Points" feature to convert your points to a cash value which can be spent on a travel purchase of your choice.
Extra Points For Online Shopping
Another unique feature is that there is an online portal, exclusively for AmEx Membership Rewards cardholders, which allow them to earn extra points at various retail partners.
Redeeming For Merchandise & Gift Cards
- You can easily redeem your reward points for gifts and gift certificates from a wide array of retailers that have partnered with American Express. Many forum members have reported that this option gives you the most bang for your buck, in terms of reward value, second only to the airline miles option discussed above.
- The Membership Rewards program also allows you to cash out your points for merchandise. There are thousands of items available including electronics, golf gear, gourmet treats, and much more.
There are seven different categories under entertainment for the American Express Membership Rewards Program, but the one called "Experience Category’" is truly unique. In this category, you can choose to redeem your reward points for some of the most exotic and once-in-a-lifetime experiences. Examples include a day trip to Wonderland in Canada, a hot air balloon trip, or even a sub-orbital zero gravity space flight can be purchased with your points. This is testament to the fact that an Amex card is a lifestyle card and can have a huge impact on your quality of life.
Here's CreditCardForum's list of the best charge cards with Membership Rewards.[/INDENT]