Paying for everyday charges with MR points?

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TheLethargicAge
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Paying for everyday charges with MR points?

Postby TheLethargicAge » Wed May 07, 2014 10:54 am

What's the conversion rate? Is it 1 point = 1 cent?

Travis, can you shed some light on this?
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mrow
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Postby mrow » Wed May 07, 2014 11:05 am

Yes, one cent per point. Huge waste of MR unless you're desperate.

TheLethargicAge
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Postby TheLethargicAge » Wed May 07, 2014 11:37 am

mrow wrote:Yes, one cent per point. Huge waste of MR unless you're desperate.


Woah, that's way better than I expected.

I don't travel, so 1 cent per point is not too shabby.
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

travisrauh
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Postby travisrauh » Wed May 07, 2014 11:38 am

mrow wrote:Yes, one cent per point.


+1

I usually suggest my cardmembers redeem the points for something else. Retail gift cards, airline/hotel programme transfers, merchandise, etc. tend to give the best return.
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TheLethargicAge
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Postby TheLethargicAge » Wed May 07, 2014 11:51 am

travisrauh wrote:+1

I usually suggest my cardmembers redeem the points for something else. Retail gift cards, airline/hotel programme transfers, merchandise, etc. tend to give the best return.


Like I said, I don't travel, I haven't set foot on a plane in years, so 1 cent per point for everyday charges makes the Everyday Preferred suddenly look a lot more attractive.
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

travisrauh
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Postby travisrauh » Wed May 07, 2014 7:57 pm

TheLethargicAge wrote:Like I said, I don't travel, I haven't set foot on a plane in years, so 1 cent per point for everyday charges makes the Everyday Preferred suddenly look a lot more attractive.


Sorry. We posted at the same time so didn't see your travel comment :(
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benhollberg
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Postby benhollberg » Wed May 07, 2014 8:56 pm

When I viewed the use points for charges I don't think I've ever seen it at $.01 per point, always lower. Is there another way to use your points for the bill or am I seeing it wrong?
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TheLethargicAge
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Postby TheLethargicAge » Thu May 08, 2014 11:36 am

benhollberg wrote:When I viewed the use points for charges I don't think I've ever seen it at $.01 per point, always lower. Is there another way to use your points for the bill or am I seeing it wrong?


Travis, you got some splainin' to do!
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travisrauh
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Postby travisrauh » Thu May 08, 2014 12:17 pm

Sorry. When I typed that I was relying on an apparently incompetent representative from Membership Rewards since they'd know better than I. Upon checking personally, it appears that the rate is approximately $0.006 per point when used in this manner. The rate differs depending on how you use it.
I am an employee of American Express. All posts are those of my own and do not reflect the actions or opinions of AXP. While all efforts are made to ensure accuracy in my posts, for official statements or responses, please consult with @AskAmex on Twitter or dial the number on the back of your card.

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FastSRT8
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Postby FastSRT8 » Thu May 08, 2014 2:24 pm

I've been hoarding my points for some time. For fun I am trying to find out how to spend them with the greatest advantage to ME.

What's the general concensus? Use them for first class air tickets?
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