American Express Membership Rewards points are some of the best rewards you can earn because they're flexible - you can use them for travel, gift cards, or statement credits, among other things.
Amex cards that earn Membership Rewards include:
Each card offers a unique set of bonuses and benefits depending on how you spend and travel.
While Amex's rewards program has a lot of flexibility, that doesn't mean all redemption options get the same cents per point value.
Let's start with the worst ways to use your Amex points.
Amex has a shopping portal with many products you can buy with Membership Rewards points. While this is a versatile way to use your points, it doesn't have a high redemption value.
For 10,000 points, you'll only get a value of 0.5 CPP— which is not the best value for Amex points.
If you're set on using points for merchandise, you might be better off buying a gift card or going through a shopping partner like Amazon.
Amex has a ton of airline transfer partners that you can transfer your points straight to.
Most partners offer a 1-to-1 transfer rate, so if you transfer 1,000 points to them, they will give you 1,000 points back. Sometimes, American Express runs promotions for transfer partners where you can get a better rate.
One thing to keep in mind here is the Excise Tax Offset Fee.
In most cases, American Express charges an excise fee of 0.06 cents per point (capped at $99 for any single transfer) when you transfer points to U.S. airlines with a card such as The Platinum Card®.
American Express's U.S. airline partners that charge an excise fee include:
On a 100,000-point transfer, that fee equates to $60. In addition to these charges, the airline may also charge taxes and fees.
However, not all partners charge this fee. Some of the airline programs where you can transfer Membership Rewards points without paying any fees include:
Since these are points from airlines outside the United States, American Express won't charge you the Excise Tax Offset fee to transfer points into these programs, although you need to evaluate their value (Note: some of them are hard to redeem points from). Transferring points to their hotel partners will also be free of charge.
Unfortunately, the only way to transfer points to your Delta SkyMiles account is through AMEX, so be prepared to pay the fee to utilize them.
To get the best redemption rates, you need to do a lot of research before you transfer your points.
If you don't want to pay your card bill, you can redeem your points for statement credits, effectively wiping out any purchases you made with the card. While this option is handy, it also isn't recommended.
However, if you're in a pinch, this can help.
It's best used as a last resort if you need some last-minute funds to cover your balance. But each point will only be worth 0.6 CPP. So the low value makes it not a great option.
We'll talk about other setups later in this post if you're after cash.
With JustGiving, you can donate your points to over 1.5 million charities. Unless you can redeem your points for travel, you'll likely get no more than 0.7 cents per point from this redemption option.
The points aren't the greatest value for your money, but if you don't need your points, this is a decent option.
Beware of the value change, though. Depending on the organization, the value of your points may vary, so pay attention.
Doing the math can help you make a bigger impact.
With American Express Travel, you can book all kinds of travel, including hotels, vacation packages, and cruises.
If you book travel through the American Express Travel portal (excluding airfare), you will only earn 0.7 CPP. In addition, considering other companies will give you 1 CPP, booking your travel using the Amex Travel portal may not be the best way to spend your Amex points.
Keep in mind that using the Amex Travel Portal is NOT the same as using a transfer partner.
Similar to option 1, you can use your points to spend with certain merchants.
The cents per point come out to 0.7 mostly, except for NYC Taxis and Ticketmaster.com. Those have different point-to-cent ratios, so check the redemption rate before redeeming, as redemption rates may vary from retailer to retailer.
You also need to be careful because some platforms like Amazon can automatically fill in that you're using M.R. points when you check out.
If you want to use your points for shopping, there are probably better options in this list.
This option is new for 2022.
If you have a business checking account with Amex, you can redeem your points for cash. You'll get 0.8 CPP, so 10,000 points would come out to $800. These points are considered rebates instead of income, so you're not taxed on them.
So if you have a lot of points, cashing out your business checking account through your Business Platinum might be a better option. (More about this below)
Gift cards come in different types, and your redemption value varies. Then again, there are many 1 CPP options with less variance, which is not too bad.
It may not be the best redemption method for your Amex points because it has additional hoops to jump through.
With Upgrade with Points, you can bid on seat upgrades at over 20 participating airlines using your Membership Rewards points. This is a convenient option if you are worried about cramped seats on long flights.
It might make more sense to upgrade your seat with the actual card and earn more points because there are higher-value options to redeem your points. However, membership rewards here are worth at least 1 CPP depending on how you use them.
If you value your seat on the plane, you might like this option.
This is a great option for the avid traveler.
Compared to other companies, you can get a decent rate on your points. You can expect to redeem 1 CPP with flights and hotels if you book it through the Amex Portal.
But if you have the Chase Sapphire Reserve, you could get 1.5 CPP when you book through their own portal.
With this option, you can get an elevated value for your points, whether it is flights, and pay yourself back.
This is a better option than the 7th option mentioned above.
Instead of $800 per 100,000 points, you can get a better rate of 1 CPP. That comes out to $1,000 per 100,000 points. You must have the Amex Business Platinum card, though.
If you run a large business, that might be enough to offset the annual fee, but you still need to do the math.
If you own a Morgan Stanley brokerage account, this might be useful.
It's similar to a business checking account using your business platinum but on a more personal card side.
If you own the Platinum Card from American Express Morgan Stanley edition, you can cash out your points to your brokerage account at 1 CPP.
The points can be cashed out anywhere once they reach your brokerage account.
Though, you might want to consider these things first before you use this option:
I made a blog post about this before and how to waive the annual fee. You can learn more about it here: https://www.asksebby.com/guides/waive-amex-platinum-annual-fee
You can transfer M.R. points at 1.1 CPP to your brokerage account with the Platinum Card from American Express Charles Schwab. So if you're looking to redeem for cash, this might be the best option.
However, as with any other Amex Platinum cards, there are a few things you need to consider:
If you have a Business Gold, you can get a 25% rebate when you book an eligible flight.
So, if you use 100,000 points to cover a $1,000 flight, you'll get 25,000 points back. That means you used only 75,000 points for a $1,000 purchase, which works out to a rate of 1.33 CPP.
The maximum rebate is 250,000 points, so you wouldn't want to redeem more than 1 million.
Platinum Business cardholders can redeem M.R. points for travel and get a 35% rebate when they use their card for either first class or business class travel or flights with the airline of their choice (via the travel incidental credit).
That means if you spend 100,000 points for a $1,000 flight, you'll get 35,000 points back. Considering the 35% points rebate, the effective value is 1.54 CPP.
This is your best bet if you're looking for a simple travel redemption. The maximum rebate here is 1 million points per year, so you wouldn't want to redeem more than 2.85 million.
This is the same for the two previous options, but even better!
You can redeem your points with Business Centurion for a 50% rebate. As you know, spending 100,000 points for a $1,000 flight would get you 50,000 points back.
With the rebate, you can effectively get 2 CPP, the highest rate we've discussed.
On top of that, there is no maximum rebate. However, the personal Centurion card does not offer flight rebates.
Finally, you can transfer your points to American Express airline and hotel partners.
The rate here can be up to 10 CPP, but it can generally fluctuate or come out to about 2 or 3 CPP when you get through all the transferring. There are a lot of nuances to this one.
But for avid travelers, this might be a decent option for you.
American Express points can be redeemed in many ways, so it's important to know which one gives you the most value.
While you can use them for merchandise or shopping with Amazon, they don't provide good value.
Most people will get the best value from their points by transferring them to airline or hotel partners or using your Amex business card.
Watch this video to find out how to get the most out of your Amex points:
Starting May 31, 2020, Chase added a new temporary benefit for Chase Sapphire Preferred® Card and Chase Sapphire Reserve® members to “Pay Yourself Back.”
Note: The “Pay Yourself Back” feature is not available to the no annual fee Chase Sapphire card.
The Pay Yourself Back Program lets Chase Sapphire Preferred and Sapphire Reserve cardholders redeem Ultimate Rewards to offset select category purchases at a favorable rate.
Pay Yourself Back Categories:
The current promotion is valid through September 30, 2020, but it’s possible that it may be extended due to uncertain times.
[ March 30 Update ] Pay Yourself Back is extended until Sept 30, 2021.
Sign into your online Chase account and navigate to the Ultimate Rewards tab located on the bottom of the left column.
Select the card you’d like to access. If you have multiple Ultimate Reward earning cards, you can choose to pool points to the Sapphire card to redeem.
In our example, we choose the Chase Sapphire Reserve.
Navigate to the left hand column and select the “Pay Yourself Back” menu item. Clicking the main promotional banner also works, as seen in the screenshot below.
The current categories for pay yourself back are: restaurant and grocery stores (including take out and eligible delivery services), home improvement stores, and select charitable organizations.
After each purChase posts, you have 90 days to pay yourself back. Check the respective box to select the purChase.
Enter the dollar amount you’d like to receive as a statement credit by using some or all of your available Ultimate Rewards points. The Chase Sapphire Preferred redemption rate is 1.25 cents per point, and the Sapphire Reserve is 1.50 cents per point.
After setting the cash value, click “Confirm & Submit” to redeem!
One of the main benefits of Chase Ultimate Rewards points is that you can transfer them out to partners if you have the Chase Sapphire Preferred, Chase Sapphire Reserve, or the Chase Ink Preferred.
You can view credit card offers by going to the "Credit Card Offers" tab. Find offers for the respective cards in "Travel Rewards Credit Cards" and "Business Credit Cards." You don't have to use our links, but we're grateful when you do. Thank you for supporting AskSebby!
Chase Ultimate Rewards transfer at a rate of 1:1. On average, you can get up to two cents per point when you use transfer partners.
If you're looking for the most value possible, then airline partners are the way to go for first class redemption. This also works well for last minute flights.
The way I redeem points for "best value" is hotels because everyone in your travel group can benefit.
For example, if I transfer my Ultimate Rewards points to United:
On the other hand, if I transferred my Ultimate Rewards points to Hyatt:
For the cost of a round trip United Polaris flight to Asia, I can get four nights at a top tier Hyatt property.
Examples:
IHG is not an ideal transfer partner because of the cost of the points, and you typically need more points for a redemption.
In my experience, Hyatt has the best redemption value for transfer partners. The Category 1 Hyatt properties start at 5,000 Hyatt points.
Category 1 = 5,000 Hyatt points / 5,000 Chase UR points
Check out the video below for more redemption ideas.
There are three major rules to know before applying for an American Express credit card:
One thing to be aware of, if you are not currently an American Express customer, don't apply until you get targeted for a great offer. A lot of Amex card members are frustrated because they aren't targeted for great offers like new customers, but it's a user acquisition strategy for Amex.
The highest offer I've seen is 100,000 bonus points for The Platinum Card® from American Express. Terms apply. CardMatch is a common way to find increased offers. Again, it depends on your timing if you want to hold out for the offer or not. The higher offers are usually targeted and not publicly available.
Before we dive into the core rules, there are a few prerequisites to be aware of to see if you’re eligible for welcome offers.
American Express updated their terms of service in 2018 by adding “anti-churning” language. Amex reserves the right to “clawback” a welcome offer if they detect any “gaming” activity like peer-to-peer payments, cash equivalent gift cards, and closing accounts early.
Peer-to-peer (P2P) payments is when you send money to a friend via a service like PayPal. However, if you make a purchase from a retail merchant with PayPal, this is a normal transaction. Amex has access to third-level data so they can distinguish between P2P and merchant payments.
Cash equivalents are another type of purchase that can raise a red flag. These can be in the form of Visa or American Express gift cards purchased from a drug store or any other retailer that sells them. Again, Amex has access to third-level data so they know when you’re purchasing cash equivalent gift cards.
Closing a new account before the 12-month mark is another red flag. When you try to close an account that’s less than a year old, it seems like you’re only opening the account for the welcome offer. Closing the account early means that Amex reserves the right to claw back the welcome bonus. Keep the card for at least 12 months and you can cancel or downgrade afterward if you don’t want it.
If you sign up for a card and you get a pop up saying that you're not eligible for a welcome bonus, you will not receive one.
There are 2 theories:
If you've ever had a certain Amex product past or present, regardless of if you received a signup bonus, you will not be eligible for the signup bonus again. The sole act of having X card means you will not be eligible for the signup bonus.
For example, if you had the Amex EveryDay® Credit Card in the past and canceled it (or product change), you would not be eligible to receive another Amex EveryDay® Credit Card intro offer if you applied for it again in the future.
Another example would be if you opened the Hilton Honors American Express Surpass® Card and downgraded it to the no annual fee Hilton Honors American Express Card. By downgrading it, you lose out on the 80k to 130k Hilton Honors bonus that's pretty normal for the Hilton -- easily 1 night in most of their expensive properties like Bora Bora, Maldives, or Koh Samui
Technically, we have seen some offers that don't have this once in a lifetime language, but it's not common. I would argue that this is the biggest core strategy to work around -- especially for new people thinking about upgrades/downgrades.
However, cards like the Amex Platinum card have different variations, which are all considered different products. You could receive the signup bonus for each variation of the Amex Platinum card.
Some data points suggest that you can only have 5 American Express credit cards at one time, regardless if it’s a personal or business card. Your mileage may vary.
If you’re currently at the 5 Amex credit card limit and you want to open a new Amex credit card, you’ll have to call in and close an account in order to open a new one.
Again, this is rule only applies to credit cards — 4 personal and 1 business, or 5 business credit cards— whatever other combination you want.
The 5 credit card rule is key depending on your card play style and strategy. if you're optimizing for cash back, then there's less to worry about. If you're hunting for bonuses, then you don't want to "lock up" one of your slots for no reason.
You can only get approved for one credit card every five days.
The 1 in 5 rule doesn’t affect charge cards, so you could apply for one credit card and X charge cards on the same day and be fine. Keep in mind that you’ll have to manage the minimum spend requirements.
Applying for multiple American Express cards doesn’t have a big impact on your credit score because once you have one Amex card, they typically only do soft pulls after that. Your mileage may vary.
You can only get approved for two credit cards every 90 days. This means that if you apply for a third card within the 90-day window, you'll automatically be rejected.
These rules apply to credit cards only and not charge cards, so you can apply for as many charge cards as you like.
American Express typically doesn’t match welcome offers. For example, if you apply for the Delta SkyMiles® Gold American Express Card with a 30,000 welcome offer, and the next week it increases to 60,000 points, Amex is unlikely to match it.
Given the rules and restrictions, the optimal strategy would apply for a charge card and a credit card on the same day to combine hard pulls. This means you will only have one credit inquiry, as opposed to two.
If you don’t currently hold any American Express cards, I recommend checking CardMatch to see if you can get targeted for an elevated Platinum card offer.
Be aware that if you have more than a $35,000 cumulative credit limit with Amex, it will trigger a financial review. Your accounts will be frozen during the financial review.
Amex will not match any increased offers. For example, if you applied for a card with a 50,000 point offer, and the next week a 60,000 point offer pops up, they will not match the offer.
One of the best redemptions for the Hilton Weekend Night Reward certificate from the American Express Aspire and Surpass cards is the Waldorf Astoria Maldives Ithaafushi.
A few important notes to consider before jumping to book the property:
Even if your room rate is covered, a stay at the Waldorf Astoria Maldives is expensive. Now that the sticker shock warning is out of the way, let’s dive into how we booked the room.
The retail rate for an overwater villa is ~$3,000/night. We booked our four-night stay using three free weekend night certificates, and 120,000 Hilton Honors points for the fourth night.
For each Weekend Night Reward, you’ll need to create a separate reservation. The hotel can combine them afterward. We created four consecutive day bookings.
We didn’t end up booking a fifth night since the booking doesn’t qualify for the 5th night free promotion. To qualify for 5th night free, you must book your entire stay using points. Weekend Night Rewards do not qualify.
If you want to increase your chances of getting an overwater villa, I recommend visiting during off-season or shoulder season.
We booked the standard base beach room villa and received a complimentary upgrade due to having Diamond status. Upgrades are NOT guaranteed.
If you want to guarantee an overwater villa, I suggest booking one directly or inquiring to pay out of pocket for the upgrade.
It’s worth mentioning that the beach villas are also huge (2,500 square feet) with the same standard room layouts.
Before your stay at the Waldorf Astoria Maldives, I highly recommend having Hilton Honors Gold or Diamond status to get complimentary access to the breakfast buffet. Without Gold or Diamond status, you’ll end up paying a hefty price tag for the a la carte menu. To put things in perspective, a basic plate of eggs costs $30 + tax and tip.
The easiest way to earn automatic Hilton Honors elite status is via credit cards.
All information about the Hilton Honors American Express Aspire Card has been collected independently by AskSebby.com. Hilton Honors American Express Aspire Card is no longer available through AskSebby.com.
Al Maha is one of the best Marriott Bonvoy redemptions if you plan to visit Dubai. The all-inclusive resort is located one hour away from Dubai, and it’s an amazing escape from the city.
The resort is also a conservation reserve where they have on-site field guides and wildlife.
Al Maha is a Category 8 hotel, and the price ranges from 63,000-100,000 points depending on the season.
Search for availability on Marriott’s site: https://www.marriott.com/hotels/travel/dxbam-al-maha-a-luxury-collection-desert-resort-and-spa-dubai/
Be sure to check the box that says “Use Points/Certificates.”
Example of peak season pricing:
Off-peak season pricing:
The room-rate includes:
Desert Activities to choose from:
How to use transfer partners is one of the most requested guides because there are so many steps to take. To get the maximum value from points, you'll have to put in the work and research which airline partners are best for you.
Here's a step-by-step guide on how to use transfer partners. Before we dive in, be sure to transfer all your Ultimate Rewards Points to the card that has access to transfer partners: the Chase Sapphire Preferred® Card, the Chase Sapphire Reserve®, or the Ink Business Preferred® Credit Card.
1. Login to your Chase account and find the Ultimate Rewards Portal.
2. Click on a card that has access to transfer partners like the Chase Sapphire Preferred, the Chase Ink Business Preferred, or the Chase Sapphire Reserve.
3. Transfer all your points to the respective card. i.e., transfer Chase Freedom points to a Sapphire card.
In the example below, we're transferring points from the Chase Freedom to the Chase Sapphire Reserve.
Transfer all the points.
4. To use transfer partners, hover over the use points and click one of the airlines.
5. Choose the airline partner you want to use.
6. Enter your frequent flyer information.
7. That's it! The good thing about Chase is that transfers are instantaneous, unlike Amex where it may take a few days.
Important: Once you transfer Ultimate Rewards points to an airline, you cannot revert the points back to Ultimate Rewards. Only transfer the amount you need.
Since there are a lot of different options, you need to sit down and research which programs are the best use of points. There are a few sweet spots available for redemption, but supply is limited and hard to find.
For example, a viewer messaged me asking if I was lying about the IHG Bora Bora free certificate redemption because they tried once or twice and failed. I spent one week looking once or twice a day and booked my certificate nights.
Since there are a lot of options, let's run through a real example. Let's say I'm trying to go from SF to Seoul.
Download the Trip Planning Template here: http://bit.ly/2ysr6Gt
To use the trip planning template, you want to run down the whole list of transfer partners and see how many points it would cost for each one (info can be found on each carrier's website). Yes, this is going to take work on your end.
For United, the travel awards redemption is straight forward. Let's assume we're flying economy to Seoul, which costs 80,000 award miles per way. An economy roundtrip ticket costs 160,000 award miles.
The next step is to see if there is any award or saver availability on United's website. Be sure to check the box for "Search for award travel."
SEARCH FOR AWARD TRAVEL
In addition to the 35,000 miles, you'll still have to pay $5.60 for taxes and fees.
If you don't have flexibility, then you're going to have to take the Economy tickets for 80,000 points.
In our example, we're assuming you do have flexibility so the spreadsheet reflects the 70,000 points and $11.20 in fees.
Beyond transfer partners, be sure to compare the rates to the Chase Travel Portal. Since the prices in the Travel Portal are similar to Google Flights, it's easier to use Google to find the best flight route. It's hard to compare dates and different airline carriers with the Chase Travel Portal user interface.
Keep in mind that just because the route is cheap, it may not be the fastest nor the most efficient route. Choose the route that makes the most sense for you.
To filter the search, select your desired airlines.
Flights might not be available on your desired dates, so it helps to be flexible.
We altered our search to Dec. 10-Dec. 18.
Found a decent flight on Air Canada, but the layover seems excessive. Let's alter the dates.
If we move the date to Dec. 11, then the layover is more reasonable.
After you locate the desired airline and flight number, login to the Chase Travel Portal and find the flight. Note down how many points it takes in the spreadsheet to compare it to all the options.
We're not going to run through all the transfer partners or we'll be here all day. Researching can take anywhere from 30 minutes to 10 hours. Transfer partners are optimal for sweet spot redemptions or last minute travel.
Transfer partners are also good to use during peak holiday times to lock in prices. Another good use to transfer partners are for first or business class redemptions.
If you're someone who doesn't want to compare all the transfer options, then go the Google Flights route and book flights using the Chase Travel Portal.
It helps to have a redemption in mind, but if you need some inspiration, we recommend signing up for Scott's Cheap Flights to get deal alerts.
Effective September 30, 2023, the partnership between World of Hyatt and MGM Rewards will come to a close, resulting in changes to the benefits available to World of Hyatt and MGM Rewards members for stays occurring on or after that date.
This is HUGE news since people usually match their Hyatt status to MGM Rewards.
Act fast: you have until July 14, 2023, to status match Hyatt to MGM. It's closed off after that.
Status match at the bottom the page: https://world.hyatt.com/content/gp/en/rewards/other-partnerships.html
If you're a World of Hyatt member who matched your tier into MGM Rewards between February 1, 2023, and July 14, 2023, you'll keep your MGM Rewards tier status until January 31, 2024. However, starting from February 1, 2024, you'll need to meet the MGM Rewards program requirements to maintain your tier and enjoy the associated benefits.
MGM Resorts will honor all existing reservations at MGM Resorts destinations in Las Vegas made through Hyatt channels.
The savings can add up if you visit Las Vegas often.
By having MGM Pearl, you get free self-parking. MGM Gold will waive resort fees, which can add up quickly.
We have MGM Gold status, which has resulted in some nice upgrades to renovated rooms, better views, and occasionally suites.
Existing Reservations
New Reservations
Reservation Modifications or Cancellations
See more FAQ on the official site: https://world.hyatt.com/content/gp/en/landing/mgm-rewards-update.html
Historically, Hyatt has the most valuable status because it's generally hard to get.
Between March 28 and April 1, you can unlock World of Hyatt's midlevel status for free and the opportunity to extend it OR earn the top-level status.
Note that you don't need to have a Bilt Mastercard to join the challenge. You can just download the app.
However, if you want to earn points while paying rent, you can learn more about the Bilt Mastercard here: https://www.asksebby.com/go/bilt
Once you do this, you'll receive Explorist status by April 17, and it'll last until July 16, 2023.
To make things even sweeter, Hyatt is currently running a Bonus Journeys promo to earn 3,000 bonus points every two qualifying nights, up to 30 nights. If you're a World of Hyatt credit card holder, you'll earn an additional 500 bonus points. Learn more about the Hyatt promo and enroll here: https://world.hyatt.com/content/gp/en/offers/bonus-journeys.html
As someone with Hyatt Globalist, I'm super jealous that you have the opportunity to do a challenge.
Even if you don't care about Hyatt, this is the best move to get MGM status for Las Vegas by status matching.
Note that the temporary Hyatt status does not match over. You must do one of the extended status challenges to qualify.
Hyatt Discoverist → MGM Pearl
Hyatt Explorist → MGM Gold
Hyatt Globalist → MGM Gold
You can status match here: https://world.hyatt.com/content/gp/en/rewards/other-partnerships.html
The main benefits of MGM Gold are:
The fact you can get MGM Gold with no gambling is crazy to me and an incredible value.
If you own a business, you know how important it is to have access to credit when needed. A business credit card can be a great way to manage your company's finances and build your credit score over time. But getting one isn't as easy as applying for a personal credit card.
Here's what you need to know about getting a business credit card, how you can apply, and what issuers are looking for.
Disclaimer: I'm not an accountant or financial advisor. Consult a professional if you have questions related to your specific business entity.
Generally, any activity that offers goods or services to customers generates income from its operations and runs to make a profit is defined as a business. Businesses are all around us – from the corner store in your neighborhood to online marketplaces selling unique products worldwide.
Though many people have preconceived notions about what constitutes a business, almost anything can qualify as long as it meets these simple criteria:
The answer is no. The reason for this is that issuers use your personal credit report and your personal credit score to make a decision. Business credit can be helpful if you're doing giant lines of credit.
Let's start by figuring out what kind of business you are in. You can find companies of all sizes and shapes, but here are some eligible ones.
Note that all of these are eligible for business cards from most U.S. issuers. Some are only for C-corps or larger ones, but for the most part, the main ones are for everyone.
This is what most major credit issuers are looking for when getting a business card:
Generally, I recommend Chase cards because there are a lot of no-annual-fee options and they've got pretty good bonuses. Easy examples of this will be the Ink Business Cash® Credit Card and Ink Business Unlimited® Credit Card. There are tons of other good cards as well outside of Chase, but if you are someone at 4/24, you generally can get Ink Cards, and it doesn't affect 5/24.
Getting a business credit card is important in managing your company's finances and building its financial health over time. Remember to do your research before choosing the best option for your needs—but when used responsibly, having access to extra funds can make all the difference between success and failure in today's competitive marketplace.
Delta and American Express co-branded SkyMiles credit cards have a sweet new offer that makes travel more affordable.
The TakeOff 15 benefit for Delta credit cardholders saves 15% off Award Travel. To quality, existing cardholders simply use the “Shop with Miles” option when booking travel using delta.com or the Fly Delta app.
The discount is automatically applied to the transaction when you redeem your reward points this way. Just keep in mind that taxes and that only eligible partner flights qualify for the promotion.
This discount makes the SkyMiles program worthwhile, so if you’re a frequent Delta traveler looking to save on economy trips, this is worth considering.
With the TakeOff 15 offer, there are now two ways to redeem Delta points. You can use the “Pay with Miles” options. You can use the “Pay with Miles” option, which allows you to pay at a rate of 1 CPP (cent per point) in increments of 5,000 miles.
Or you can use the “Shop with Miles” option with a value of around 1.2 CPP to 1.5 CPP usually, but with the TakeOff 15 discount, it’s around a base of 1.4 CPP.
Thus, the Delta 15 discount offers a substantial value for frequent Delta travelers, making SkyMiles an even more attractive option for those seeking savings on airline domestic travel.
Getting a 15% discount on your eligible flight as a Delta credit card holder is simple. This offer is available to American Express cardholders with the following credit cards:
The Delta SkyMiles® Blue American Express Card does not qualify for the discount.
A popular question about the TakeOff 15 promotion is whether Delta will raise award ticket prices in response.
While it’s impossible to know for sure, there are no current plans to do so. Many people have been able to rebook the same flight, redeem their rewards points, and save a flat 15%.
There were no differences in price for rebooking a flight itinerary using points other than the 15% discount.
Although things could change at any time, we’re hopeful that Delta will continue to honor the TakeOff 15 promotion without changing reward point redemption.
If you’re looking to get from Point A to Point B for a low price, Delta SkyMiles is an option worth considering. However, if you’re trying to get from Point A to Point B in lavish business and first-class options, Delta SkyMiles may not be the best option.
That’s because Delta has one of the least redemption rates for premium cabins, so if you’re looking for luxury travel, your miles will go further with other rewards programs. Consider American Airlines and Alaska Airlines credit cards if you want more domestic travel rewards with higher upside.
Delta is an economy option with a flat value reward system and another with a flat 15% price reduction, while other cards have higher upside potential.
Overall, the Delta SkyMiles TakeOff 15 program is a good fit for someone who plans to travel domestically and save money. However, if you’re looking for more rewards and higher upside potential, consider other credit cards that offer greater flexibility and value in their rewards program.
That’s not to say that you cannot transfer your SkyMiles to other airlines or use them for luxury travel if you have a high-end card, but the value of those points might be better spent elsewhere. If you’re searching for a card to help meet your aspiration travel goals, this isn’t the right program for you.
Regardless, the TakeOff 15 promotion is a great way to save money and increase your travel budget. As long as Delta maintains its current reward redemption values, you can take advantage of the 15% discount on eligible flights without worrying about higher prices or devaluation.
Beginning on April 1, 2021, American Express is adding cell phone protection on select premium cards. This is a big deal because it was a weakness in the American Express core setup compared to other issuers like Chase and Citi.
The following cards have the cell phone protection benefit:
Amex cell phone protection covers theft and damage of your cell phone.
The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period.
Many of the blogs that received the press release mention that screen damage is covered, but I don't see that mentioned in the terms. Cosmetic damage is NOT covered if it doesn't impact the phone’s ability to make or receive phone calls. However, if there is significant damage to the screen and the phone is not functional, it would be covered.
According to the benefit terms and conditions, the following items are not covered:
The idea is that you can't just swap this in when your phone breaks. If you don't pay subsequent bills, you will lose coverage.
To file a claim, you’ll need to contact the benefits administrator within 90 days of the loss or as soon as reasonably possible. Once the claim process is initiated, you’ll have 120 days to submit all necessary paperwork; otherwise, the claim may not be honored.
You’ll need the following documents:
Pay Over Time was always a feature for American Express charge cards. Cardholders can choose to pay their statements in full or carry a balance on eligible charges, up to their Pay Over Time Limit.
However, it was recently brought to my attention that some of my cards were auto-enrolled in Pay Over Time, which makes them act like credit cards.
Cards auto-enrolled in Pay Over Time:
You can check your Pay Over Time status by logging into your Amex account -> Account Services -> Pay Charges Over Time. All of my cards had a default Pay Over Time limit of $10,000.
An important note is that although there is a Pay Over Time Limit, it’s not the same as a credit limit. While the cards technically don’t have a credit limit, if your Pay Over Time Limit is $10,000, you can carry a balance of up to $10,000 and pay the remainder in full.
Important note: Although Pay Over Time is an option, I recommend avoiding it since paying interest usually negates any points value. Always pay off the credit card balance in full, and don’t get a credit card if it tempts you to spend more than you normally would.
The negative impact of being auto-enrolled in Pay Over Time is that cardholders are no longer eligible for the 10,000 MR bonus. In the past, Amex sent out targeted offers to enroll in the optional feature. My guess is that the bonus no longer exists.
I had my fair share of enrollment bonuses since I have multiple Amex Platinum and Gold cards.
The elephant in the room is why American Express would change their charge cards to credit cards. To answer this question, let’s dive into their Q4 2019 financial statements.
Since Amex is a publicly traded company, its earnings report is publicly available: https://ir.americanexpress.com/Cache/IRCache/1ef02650-2d57-1ac2-cedb-51e6bc3ad90a.PDF?O=PDF&T=&Y=&D=&FID=1ef02650-2d57-1ac2-cedb-51e6bc3ad90a&iid=102700
If you flip over to page 8 in the earnings report, you can see that the charge net write-off rates jump from 1.4% to 1.9% within 12 months. However, it looks like the 30+ days past due percentage has little change.
My guess is that since the charge net write-off rates have increased, Amex would rather collect interest on outstanding balances instead of writing them off.
By auto-enrolling cardholders in the Pay Over Time program, Amex can earn more interest income instead of chasing after delinquent accounts.
Provisions for losses is money set aside for write-offs. Total provisions for losses jumped from $809 million in Q1 2019 to $1.024 billion in Q4 2019.
It’s no secret that American Express makes a large percentage of their revenue via swipe fees, which increased by 6% in Q4 2019. Other notable increases are net card fees (annual fees) and net interest income.
My prediction is that more people were getting the cards due to good marketing, and they ended up paying interest as opposed to paying the card off in full each month.
By auto-enrolling cardholders in Pay Over Time, Amex is cutting back on potential write-offs and making money on the interest. Only time will tell if their strategy is more profitable.
