A. I don't have the points yet.
B. I'd be getting these points through a TARGETED offer that I got in the mail.
The card is American Express Business Platinum.
The offer is : Get 100,000 points after spending $5000 in 3 months.
Annual Fee : $450. NOT waived the first year.
Bonus offers: $200 Airline Fee credit EACH year to cover fees such
as checked bags, inflight refreshments etc.
Complimentary access to lounges worldwide.
Now- I want to know if this offer is worth it. Would getting the points and paying $450 be worth it? What would be the best way to redeem 100k points? Would it be enough to get me a JFK-BOM-JFK ticket?
What else? I checked the amex website..but it wasn't exactly overflowing with information.
So I turn to you guys!
How to meet credit card spending requirement (without actual spending)?
1. Serve (paypal clone) can be funded with credit cards with no fee. So fund Serve acct with amex, and withdraw funds to your bank acct to pay off amex. http://www.serve.com/how-serve-works.html#fees. max $1000 a day, $2500 a month. ironically Serve is from american express inc.
2. Amazon Payments allows you to send money without fee up to 1k each month. Don't send money for each other.
3. Paypal Send money if you still need to spending. The fee is 0.30 +2.9%. It's OK compared to the MR that you get.
4. Stock up some gift card that you'll use in the future.
How to use membership rewards smartly?
1. wait for gift card promotion. AMEX offers 10-20% off gift card sometimes
2. wait for Delta or BA promotion which can turn 1 MR to 1.5 delta or BA miles
3. transfer/sell them to the people who need it. Rewards2Cash.com is one example that offers cash for MR at 1.16-1.22 cents/point. Practice at your own risk.
3. Shop at Amazon and pay with MR. It only values at 0.7 cent each point.
5. transfer to other airline miles that you need.