Expired Hot Deals

[American Express] [American Express] Prepaid Cards for Discounted Points

  • Last Updated:
  • Mar 10th, 2021 3:12 am
[OP]
Newbie
Jul 8, 2016
56 posts
77 upvotes

[American Express] [American Express] Prepaid Cards for Discounted Points

Recieved this in my email today. American Express is giving you an option to use your Points Balance for a Prepaid Card at a discounted rate. Seems like a good deal given covid times.

2,500 points = $25 (regularly 3,125 points)
5,000 points = $50 (regularly 6,250 points)
10,000 points = $100 (regularly 12,500 points)
25,000 points = $200 (regularly 25,000 points)
50,000 points = $500 (regularly 62,500 points)
100,000 points = $1,000 (regularly 125,000 points)

Can also convert 1,000 points for a $10 Amazon gift card using this link: https://www.amazon.ca/gp/shopwithpoints ... ashort1309

Funds do not expire.
16 replies
Deal Addict
User avatar
Feb 18, 2013
1844 posts
10762 upvotes
This is cashing out MR points at 1 cent per point.

By transferring to most travel programs (Aeroplan, Marriott, etc) you can achieve at least 2 cents per point easily, often more. That being said, COVID is absolutely a thing - if you need to liquidate and cash out go for it, but know that you're giving up about 50% of your points value by doing this.
Newbie
Oct 7, 2020
10 posts
16 upvotes
Pretty decent during these times. My aeroplan can RIP for the next year or so. So much for miniRTWs
Newbie
Apr 5, 2013
31 posts
21 upvotes
Ok deal for my cobalt card. I’m just gonna cash out some.
Deal Addict
User avatar
Dec 16, 2008
2476 posts
861 upvotes
Calgary
Ah crap, I just cashed out my points, thanks anyways OP
Deal Addict
User avatar
Feb 18, 2013
1844 posts
10762 upvotes
gushiq wrote: Ok deal for my cobalt card. I’m just gonna cash out some.
Cobalt can be cashed out at 1 cent per point as a statement credit any time - no need to wait for a sale.

Book a refundable hotel, apply MR Select (always 1 cent per point redeemed toward Travel, all other types are $0.007 per point), once statement credit posts... "change your travel plans". ;)
Sr. Member
User avatar
Dec 18, 2010
592 posts
475 upvotes
Vancouver
Leverage wrote: Cobalt can be cashed out at 1 cent per point as a statement credit any time - no need to wait for a sale.

Book a refundable hotel, apply MR Select (always 1 cent per point redeemed toward Travel, all other types are $0.007 per point), once statement credit posts... "change your travel plans". ;)
Edited because I can’t read.
Last edited by iN10Se on Mar 9th, 2021 7:01 pm, edited 1 time in total.
Sr. Member
User avatar
Dec 18, 2010
592 posts
475 upvotes
Vancouver
Kiraly wrote: Read all of the post you quoted...
I do this thing where I read the beginning of a post and then I’m off in my own little world for the rest of it. Thanks Smiling Face With Open Mouth And Smiling Eyes
Sr. Member
User avatar
Aug 31, 2003
742 posts
211 upvotes
White Rock, BC
I have nearly 1m MR points - equates to $10k in cash...tempting looking at it like that but agreed it's a poor use of MR - saving for trip at some point in time
Deal Guru
User avatar
Jan 9, 2011
11148 posts
13701 upvotes
Vancouver
Leverage wrote: This is cashing out MR points at 1 cent per point.

By transferring to most travel programs (Aeroplan, Marriott, etc) you can achieve at least 2 cents per point easily, often more. That being said, COVID is absolutely a thing - if you need to liquidate and cash out go for it, but know that you're giving up about 50% of your points value by doing this.
Getting big cash value for MR points usually means business class flights, which can actually be poorer value depending on how highly you value business class over coach. For example:
Coach flight = $1,000 cash fare or 100,000 MR = 1¢/point
Business class flight = $4,000 cash fare or 200,000 MR = 2¢/point

So is the business flight class a better redemption? Maybe for you, but certainly not for me; since what I'd pay for an upgrade to business class is not much more than what I'd pay to visit the airport lounge: maybe $200 for a return flight. Pay $3,000 for that? Lol, not a chance. So the "2¢/point" redemption on paper is nowhere near accurate for me. Redeeming an extra 100,000 points on something I value at $200 is burning them up at 0.2¢ each. Horrible!
Last edited by Kiraly on Mar 9th, 2021 8:08 pm, edited 1 time in total.
Sr. Member
Jan 8, 2009
753 posts
833 upvotes
Leverage wrote: Cobalt can be cashed out at 1 cent per point as a statement credit any time - no need to wait for a sale.

Book a refundable hotel, apply MR Select (always 1 cent per point redeemed toward Travel, all other types are $0.007 per point), once statement credit posts... "change your travel plans". ;)
You could be next for Amexile....
Deal Expert
User avatar
Jan 12, 2017
15395 posts
4408 upvotes
Scarberia
np66666 wrote: What is Mr?
Merchandise rewards

I only got 18k Cobalt Mr pts Face With Tears Of Joy that's 180$ amazon?
*SIG: Ryzen R5 2600 cpu w/ ASrock B450M OCd to 4.0ghz@1.265v stock cooler 16gb ram win10 pro w/radeon rx460 rogers Gigabit<< xb1 gamertag: mikka2017 >>
Sr. Member
Aug 27, 2012
523 posts
516 upvotes
Calgary
Kiraly wrote: Getting big cash value for MR points usually means business class flights, which can actually be poorer value depending on how highly you value business class over coach. For example:
Coach flight = $1,000 cash fare or 100,000 MR = 1¢/point
Business class flight = $4,000 cash fare or 200,000 MR = 2¢/point

So is the business flight class a better redemption? Maybe for you, but certainly not for me; since what I'd pay for an upgrade to business class is not much more than what I'd pay to visit the airport lounge: maybe $200 for a return flight. Pay $3,000 for that? Lol, not a chance. So the "2¢/point" redemption on paper is nowhere near accurate for me. Redeeming an extra 100,000 points on something I value at $200 is burning them up at 0.2¢ each. Horrible!
This is a very rational way of measuring a true value of something and this is definitely not the way marketing companies want us to think about it :).

For me personally true value for lets say Aeroplan points lays in redemptions such as Calgary to Nanaimo, where flights are always ~$400-600 return but with Aeroplan if I’m booking far enough in advance I can get it for 12,000 points +$65 in fees. This is a true 2c/point redemption.
Jr. Member
Jul 21, 2013
102 posts
77 upvotes
Toronto
Kiraly wrote: Getting big cash value for MR points usually means business class flights, which can actually be poorer value depending on how highly you value business class over coach. For example:
Coach flight = $1,000 cash fare or 100,000 MR = 1¢/point
Business class flight = $4,000 cash fare or 200,000 MR = 2¢/point

So is the business flight class a better redemption? Maybe for you, but certainly not for me; since what I'd pay for an upgrade to business class is not much more than what I'd pay to visit the airport lounge: maybe $200 for a return flight. Pay $3,000 for that? Lol, not a chance. So the "2¢/point" redemption on paper is nowhere near accurate for me. Redeeming an extra 100,000 points on something I value at $200 is burning them up at 0.2¢ each. Horrible!
I take your point but it it's highly dependent on picking routes with good value. Typically is fairly decent redemption for longer economy Canada wide flights like YYZ ro YYC or YYZ to YVR. I've definitely gotten $0.02 or more on those routes and even better when they used to have the fixed redemption, especially around holiday season.
Deal Addict
Oct 13, 2006
2389 posts
864 upvotes
Burnaby
Leverage wrote: Cobalt can be cashed out at 1 cent per point as a statement credit any time - no need to wait for a sale.

Book a refundable hotel, apply MR Select (always 1 cent per point redeemed toward Travel, all other types are $0.007 per point), once statement credit posts... "change your travel plans". ;)
Well at least this way you dont risk getting "flagged" by the RAT. Since this is prepaid basically amex gift card if you will it doesnt look like there are activation fees.

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