The value of American Express points depends on how you redeem them. 5000 Amex points are worth around $50-$75.
Redemption and Value
Cardholders can redeem a minimum of 1000 MR points and there’s no maximum. To convert points, log into your Amex account. With targeted offers, 1000 points equal $7.20, but you can’t withdraw the credit. It’s best to redeem Amex points for travel packages. 50,000 Amex points range $250-$500 in value, around 0.65 cents each.
Amex cards can transfer points to airline and hotel programs, at the rate of one point per dollar charged. Redeeming Amex points for gift cards gives 1 cent per point, but transferring to airlines can be worth more.
Earning Membership Rewards
The easiest way to earn Amex points is by applying for a Membership Rewards card. Options range from premium high-fee cards to no-fee daily business cards.
- You can later apply for the Everyday Preferred card, which:
- Offers a 15,000 point bonus for spending $1000 in the first 3 months
- Allows you to earn more points: 3x at US supermarkets, 2x at US gas stations, 1x elsewhere
- Provides a 50% bonus on points when using the card 30+ times a month
Amex Blue Cash Cards
The Amex Blue Cash Preferred Card rewards purchases like groceries and gas. The Blue Cash Everyday® Card has no annual fee. Although you can’t upgrade the Blue Cash card to the Amex Gold Card, you can apply for the Amex EveryDay Preferred later, earning bonuses for supermarket and gas spending.
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