Most of the Amex MR gift cards suck - especially the "Amex Gift Cards". But they do have some $0.01/point offers. We use it for Home Depot all the time. Once in a while they have a special promotion where you actually get $0.0125/point, which is nice (though rare).
We recently got a Chase Sapphire Preferred card, and it honestly blows Amex out of the water as far as redemptions go. Hell, you can convert points into cash at the $0.01/point ratio. And travel gets you an even better bonus.
Yeah, as I thought I posted, normal membership rewards are average... it is the "shopamex" that overcharges for rewards s rhardoon probably went to shopamex
Probably. Amex does a horrible job of making it simple to redeem rewards. They have basically two different sites with different options on each one.
Honestly, since getting my Chase Sapphire Preferred card, I've pretty much stopped using my Amex for most purchases. Chase makes it very simple, and almost ALL the rewards are $0.01/point. Hell, you can even get a check or statement credit at that ratio (effectively cash). The closest thing Amex offers (their gift cards) is half the value.
I'll still keep my card, but if Amex wants more of my business, they better wisen up quick and give me a better conversion rate. They are making substantially more from the merchants, and giving substantially less to the purchaser.
I also have a Discover card that I use for whatever there 5% cash back offer happens to be for the quarter/month.
The industry standard is that dollar value should be 1% of points (i.e. 1000 points should be $10 in reward value). However, I realize that most people on these message boards get even better that.
Today I received a promotional email from AMEX advertising that you get 20% off rewards.
So I decide to shop and take for example a Walmart $50 gift card. They have it for 10,000 points (with promo 8,000 points).
Come on, are most American consumers that stupid that do not realize this is an awful deal. For 10,000 points you should get at least a $100 gift card, and for 8,000 points you should at least get an $80 card. AMEX is ripping us off!
Its the same, if you try to use AMEX points on say AMAZON..... you are only getting about 0.5 % instead of the industry standard of 1%.
So its about time I get a better card. I like having at least one AMEX with no annual fee but there has to be something with better fairer rewards.
I have to update that the crappy reward values apply to shopAMEX and not the regular reward site - which you can gift cards for 1% value. Of course the 20% only applies to shopAMEX.
Frankly I try for 2-3% or more. My Fidelity Visa card cashback is 2% and there is an AMEX from Fidelity as well. Take the cash and buy whatever you want. Some other cards i have will redeem 20-25K points for a $500 air ticket. So that value is up to 2% +
Slickdeals is able to share the best deals because of the contributions of users like you! If you found a great deal,
please share it with others by posting in our forums.
Welcome to Slickdeals!
Save money here by finding the lowest and cheapest price, best deals and bargains, and hot coupons. We're all about
community driven bargain hunting with thousands of free discounts, promo codes, reviews and price comparisons.
Don't worry, we'll help you find your way. If you haven't already, check out this
that explains the features of our site.