How to Use Your AmEx MR Points (22% Rate!)
Video Summary
In this article, the author discusses the American Express Gold Card and how to maximize its rewards. The card has a $250 annual fee and earns 4x points on dining and groceries, 3x points on airlines, and 1x point on everything else. The author recommends using this card only for dining out and grocery shopping, as the rewards are difficult to redeem for non-preferred partners.
The article highlights the importance of redeeming American Express reward points efficiently, with a focus on statement credits, gift cards, and flights in the portals. It also covers transfer partners, such as Delta, and how to use them to get the best value out of the points. The author provides an example of redeeming 30,000 points for a round-trip flight from Denver to Tokyo, getting a redemption rate of 0.056, and how it’s equivalent to a 22% cashback on food purchases.
The article concludes by emphasizing the need to not overspend to earn the rewards and to use the card responsibly, as it’s a charge card, not a credit card. The author encourages readers to research and experiment with the transfer partners to find the best value for their American Express reward points.
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