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[American Express] Redeem MR points for 1¢ / 2¢ each on all purchases

  • Last Updated:
  • May 23rd, 2020 11:32 am
Sr. Member
Apr 23, 2017
546 posts
318 upvotes
thesubmitter wrote: I'm confused so it is:
1. DOUBLE REWARDS on EXISTING points (you've already earned them)

2. DOUBLE EARNING on NEW POINTS + DOUBLE REWARDS?

right?
Correct!
Information is wealth, but again, depends on what you're pursuing & what it's worth to you😎💡
Deal Fanatic
Oct 1, 2004
6203 posts
618 upvotes
Toronto
Anyone that regularity converts to Bonvoy from Cobalt jumping on this deal? Wondering what to do with 800k.
Member
User avatar
Aug 22, 2011
291 posts
92 upvotes
Vancouver
chestnut wrote: Thanks AMEX, didn't get the email for Platinum yet but logged in and was available.

Just redeemed 30K Pointts for $600! Too bad only lets me redeem upto my card outstanding balance.

At 50K points sign up = $1000!

I was debating transferring my points to Aeroplan; but with the uncertainty of when I'll be able to fly again - this is a much better value.
Aeroplan value on average is about 2.5 CPP but with them downgrading the points and the uncertainty - 2 CPP off your statement is a good deal
Newbie
May 4, 2011
36 posts
18 upvotes
Question for you pros.....

I currently have about 250k points with a gold card (which would be $2500).

Would it be worth applying for the personal platinum eating the $700 and getting the $5000 back? Do you think they would let that happen???

Seems to easy!
Deal Addict
User avatar
Mar 13, 2003
2971 posts
476 upvotes
Alberta
Ugh, I only have a Business Amex with 641,000 points. No promos except for the cheaper Amex GCs - not worth it.

Bummer
Newbie
Mar 19, 2013
29 posts
16 upvotes
greg123 wrote: Anyone that regularity converts to Bonvoy from Cobalt jumping on this deal? Wondering what to do with 800k.
800k Cobalt = $8k cash or 960k Bonvoy points

If you're not planning any lavish vacations, I'd say this is a decent way of cashing out. In my case, I'm pretty sure I could make pretty good use of those BV points (exceed $0.01/point), so I'd personally convert them.
mazman16 wrote: Question for you pros.....

I currently have about 250k points with a gold card (which would be $2500).

Would it be worth applying for the personal platinum eating the $700 and getting the $5000 back? Do you think they would let that happen???

Seems to easy!
Don't quote me on this, but I'm pretty sure you could open a new personal Plat, link your gold card with it, and then cash out. If you're going that route, I'd strongly encourage you to meet minimum spend to get the extra MR points.
scouzer wrote: Ugh, I only have a Business Amex with 641,000 points. No promos except for the cheaper Amex GCs - not worth it.

Bummer
I'd literally just open a personal Plat to capitalize/cash out on this promo if I wanted the cash.
Deal Addict
User avatar
Mar 13, 2003
2971 posts
476 upvotes
Alberta
535428 wrote:
I'd literally just open a personal Plat to capitalize/cash out on this promo if I wanted the cash.
If I was 100% certain a new application would still get the promo I'd probably do it... $12,800 sounds pretty decent.

But if anything didn't work out, I'm stuck with (another) $500+ credit card
Newbie
Mar 19, 2013
29 posts
16 upvotes
scouzer wrote: If I was 100% certain a new application would still get the promo I'd probably do it... $12,800 sounds pretty decent.

But if anything didn't work out, I'm stuck with (another) $500+ credit card
Ideally, you'd be able to meet the $5k minimum spend in 3 months, therefore giving you the welcome bonus, which would more than compensate for the annual fee.
Deal Addict
User avatar
Sep 22, 2012
3675 posts
3074 upvotes
Richmond Hill
scouzer wrote: If I was 100% certain a new application would still get the promo I'd probably do it... $12,800 sounds pretty decent.

But if anything didn't work out, I'm stuck with (another) $500+ credit card
Don't forget you'd actually need spending to "cash out".

With the self-isolation going on, my family's spending has mostly just been groceries, usually at Costco (which doesn't take Amex).

If it weren't for that, I'd be tempted to get another Plat and cash-out too.
Jr. Member
Mar 23, 2019
183 posts
84 upvotes
To the pros in this thread.

If I open an Amex plat card now, will I eligible for this 50k=$1000 double value redemption?

Thanks
Deal Addict
User avatar
Mar 13, 2003
2971 posts
476 upvotes
Alberta
rugerty100 wrote: Don't forget you'd actually need spending to "cash out".

With the self-isolation going on, my family's spending has mostly just been groceries, usually at Costco (which doesn't take Amex).

If it weren't for that, I'd be tempted to get another Plat and cash-out too.
I'm still running around 30k a month through my CCs thanks to the corporation. I could run 1 month through a personal card and expense claim it

But I'm still leery
Penalty Box
Nov 10, 2018
3111 posts
3410 upvotes
Until July?

Heavens. Go on GCR, sign up for an AMEX Preferred Cash card, and get the annual fee "refunded" due to the GCR bonus, and get 5% back until September (that's when the annual CB is refunded), and then cancel it.

2% on the AX Plat till only July?

Please.
For legal topics and discussions, the opinion, guidance, and thoughts provided are my own and are not considered to be legal advice, in any manner.
Deal Addict
Sep 22, 2016
1030 posts
1738 upvotes
dzgzpy wrote: To the pros in this thread.

If I open an Amex plat card now, will I eligible for this 50k=$1000 double value redemption?

Thanks
tbh, I am not sure. It's not advertised on their card application website. It's sending email to existing card members.
Jr. Member
Mar 23, 2019
183 posts
84 upvotes
LarryT778370 wrote: tbh, I am not sure. It's not advertised on their card application website. It's sending email to existing card members.
Thanks, maybe I should call them to find out.

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