Amex will credit 30% membership rewards for using “Pay With Points”
American Express has dropped a new promotion for ‘select’ members, offering them a 30% refund on their points as long as they use their membership rewards points to eliminate cash spends or statement credits. She goes.
American Express “Redeem and Earn” Offer
American Express has launched a new “Redeem and Earn” offer for select American Express Cardmembers whose accounts are valid and in good standing.
The following cards are targeted:
- American Express Platinum Card
- American Express Platinum Reserve Credit Card
- American Express Platinum Travel Credit Card
- American Express Gold Card
- American Express Membership Rewards Credit Card
- American Express SmartEarn Credit Card
Promotion valid from 1st September to 31st October 2021, offers 30% points back on eligible redemptions made during the offer period. Qualified redemption transactions include:
- SafeKey Transactions: When paying at any American Express online merchant, a ‘SafeKey’ screen appears where you can select the ‘Use Pay with Points’ option to pay your charges.
- Select and Redeem (pay card fee with points): This option allows you to pay with your points for any item on your card statement. Cardmembers are required to redeem at least 1,000 points at a time for each redemption process.
It may take up to 3 working days for the points applied to your account and the corresponding statement credits to be debited. Normal redemption is worth INR 0.25 per MR point, and in this case, American Express is offering individual points refund, which are communicated directly to you:
- Uncapped (any points used will get 30% credit back)
- Up to 3,000 Membership Rewards Points (maximum redemption of 10,000 MR points you will get here)
- Up to 5,000 Membership Rewards Points (maximum redemption of 16,667 MR points you will get here)
- Up to 10,000 Membership Rewards Points (maximum redemption of 33,333 MR Points you will get here)
Hence, the value of the Membership Reward Points used by you increases from INR 0.25 points per MR to INR 0.36 points per MR which is redeemed in this case, which is still a far cry from the double value of INR 0.5 which will be in 2020 was introduced in.
Membership Reward Points will be credited as Points Back by January 31, 2022.
American Express is offering 30% Return on Points for select members in the American Express Cardmember Base. Once they have spent the requisite MR points, they expect 30% of the MR to be back in their account by January 2022. This isn’t the biggest use of MR’s as one can get more value by using them for other travels, but it can work if some are sitting on a higher balance.
What do you think of the new American Express MR Points back offer?
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