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AMEX user? Have reward points? Get your iPad for 40% off!
- Thread starter CAWjr
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I'm calling too then. I have a Plat w/>350k pts and I get 20% as well. I am getting the gen 1 though.
Eh, anybody is welcome to use their points as they see fit. But math is math. Note, that you can convert points to cash - by selecting to pay certain of your charges on your AmEx card using points. That's as if you get cash, because your AmEx bill is that much smaller. You do have to watch the conversion rate though. And that varies. When they had various double and triple points per dollar, the conversion rate was something like 80 points to a $, in which case it would be a poor deal for the iPad, because if you used those points on paying your AmEx bill, you'd get to charge off $1200 or so, and the iPad only costs $830. So again, you gotta be very careful to make sure that you come out ahead.
I also have a Gold Rewards Plus. And in general, I avoid the point "deals" on merchandise AmEx pushes, because I find that I can frequently find the products cheaper elsewhere instead of buying them through the AmEx program. To be honest, most of the time I use my points to take charges off my AmEx monthly bill. I come out ahead that way. Of course there can always be special circumstances, so you gotta keep your eyes open. Just be careful to do the math and not fall for the "free!!!!" trick. Points is money, people, like in straight $.
I also have a Gold Rewards Plus. And in general, I avoid the point "deals" on merchandise AmEx pushes, because I find that I can frequently find the products cheaper elsewhere instead of buying them through the AmEx program. To be honest, most of the time I use my points to take charges off my AmEx monthly bill. I come out ahead that way. Of course there can always be special circumstances, so you gotta keep your eyes open. Just be careful to do the math and not fall for the "free!!!!" trick. Points is money, people, like in straight $.
That's a good point. However for me, I do not believe I can use points to pay my bill. Mine is due in full monthly, and I have never seen an option to pay any portion w/points.
Well, AmEx is tricky. Obviously, they'd like you to use points for merchandise, because that's a better deal for them. So what they do, is hide options or make them hard to find. You can either hunt for it on their online site, or simpler - why not call them and ask them if you have that option; you'll get your answer the fastest that way. All companies pull stuff like that. For example, Amazon really hates to let people speak to a live operator. So you can search their entire site and not find that option. But it exists - call 1-800-201-7575 and then press #7 and you'll get an Amazon live rep. I hate these games, but that's how things work, unfortunately.
If you say you are able to pay your AMEX balance down with points at a ratio of 100 points to 1 dollar, I will take your word for it, but I have been carrying an AMEX for 12 years and in all that time, I have never once come across the ability to do that. A search of both the AMEX site and Google return zero results about paying your balance off with points. Now, if this was something that was possible, wouldn't you think that there would at least be one hit on Google about it?
And even if you are able to exchange points for "AMEX cash" I would think that they would not be giving you an exchange rate of 100pts to the dollar. 100-1 is the best offer they give you on some gift cards. I would have to think they would charge 150-1 or even 200-1 in order to pay off your balance.
But once again, if you say it is possible, I will take your word for it. I would just like to see a tutorial or guide somewhere that lays out how to make it happen.
You can do it if you are a member of membership rewards or have a rewards Amex. I have a traditional gold card and am a membership rewards member. Try logging into your account and pulling up your recent charges or a current billing statement. On the right of the page, there should be a notation of how many points you have, and under that should be clickable text that says "use points for everyday charges." That will take you to a screen that tells you which charges are eligible and how many points required for each.
The points per dollar vary a bit, mine are usually about 150 pts per dollar applied to bill.
I've run the calculators for AmEx points and the best return comes out to be .5 % but 90%+ are more like .25%. Unless you use it for travel it's a horrible rate that makes you feel good about being ripped off.
I do use the AmEx Blue Cash because it's the exception to the usual AmEx wool over your eyes.
I do use the AmEx Blue Cash because it's the exception to the usual AmEx wool over your eyes.
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Or even more than the $1,000 depending on where you can use them. I usually use these for a 1st or BIZ class international ticket or upgrade, where the 100,000 points could be a $6,000 + value.
Yeah I found that tricky screen. I don't know, they seem to be such a rip off for the dollars spent. I guess it's free money over the years, as I don't pay any interest on this; except that big yearly fee
I'm very familiar with the pay with points feature. If you view the current charges online, there should be a box off to the right labeled "Your Rewards." In that box you should see a link that says "Use points for everyday charges." From there it will talk you through the process.
The key word is "everyday" - you can only use the feature for gas, groceries, cable, drug stores, etc. You can't use it for purchases you made directly at the Apple Store. So in the case of buying an Ipad, this feature doesn't really help you. You need to use ShopAmex or go to the MR catalog for that.
I have always redeemed $10,000 points for $100 gift card. Anything less is a waste.
CAWjr, you are calling me a liar, and I don't appreciate that. I am not responsible for your incompetence with google searches. Here, is just one example:
http://forums.gottadeal.com/showthread.php?151670-AMX-use-points-for-everyday-charges
See the post by DrHockey. It is exactly what he and I are talking about. They allow you to pay off various charges. Depending on how the points are distributed (some you earn 1 point to $1, sometimes 3 points to $1. The point however is, that ultimately you have to pay the bill - now, if I can make the bill smaller, so that instead of paying, say, $4600, I can use points and pay only $4450, that's as good as $150 in cash. Bottom line, before using points for any purchases, people should do the math to see if it pays - because it may be better financially to take the cash (by taking off charges).
Well said Mr. Corpse.
I am still toying with figuring out this game. Can you believe I have had my card since 1994, and never knew this option existed; I feel like a fool. Believe me when I say, I am pretty sharp with my Plat rewards and benefits (I.E. 5x bonus point shopping and the like) but I just never did the math or used the pay points option.
I am seeing that a gas charge is 64.88 for 10,688 pts. Not such a good deal
Well said Mr. Corpse.
I am still toying with figuring out this game. Can you believe I have had my card since 1994, and never knew this option existed; I feel like a fool. Believe me when I say, I am pretty sharp with my Plat rewards and benefits (I.E. 5x bonus point shopping and the like) but I just never did the math or used the pay points option.
I am seeing that a gas charge is 64.88 for 10,688 pts. Not such a good deal
Don't feel foolish - this feature just launched last year.
I'm probably wrong, but I thought the points difference was not a lot between the generations.
I am seeing that a gas charge is 64.88 for 10,688 pts. Not such a good deal
Depends. Here's the key: how did you get those points? For example, I often get the deal where all my groceries and gas plus utilities get counted 2x or 3x per dollar. So that effectively lowers the cost of the points per dollar. That may make it worth it. But if you earned 1 point per 1 dollar, then the conversion is something like 165 points per dollar chargeback as in your case, then it might not be worth it on the back end. In other words, there are two sides to the equation - one side is the rate of earning points per dollar, and the other is redemption of points for dollars. On the back end, it doesn't matter, because points are points, but on the front end it might make a difference, so f.ex., when there's a 2x or 3x promotion, I might buy those categories with my AmEx card, but if it's just regular 1x, I might not (if another card has better rewards).
But in general, yes, absolutely - it's always an individual case. You must calculate when it makes sense for you to (a) earn your points (b) use your points and for what.
Depends. Here's the key: how did you get those points? For example, I often get the deal where all my groceries and gas plus utilities get counted 2x or 3x per dollar. So that effectively lowers the cost of the points per dollar. That may make it worth it. But if you earned 1 point per 1 dollar, then the conversion is something like 165 points per dollar chargeback as in your case, then it might not be worth it on the back end. In other words, there are two sides to the equation - one side is the rate of earning points per dollar, and the other is redemption of points for dollars. On the back end, it doesn't matter, because points are points, but on the front end it might make a difference, so f.ex., when there's a 2x or 3x promotion, I might buy those categories with my AmEx card, but if it's just regular 1x, I might not (if another card has better rewards).
But in general, yes, absolutely - it's always an individual case. You must calculate when it makes sense for you to (a) earn your points (b) use your points and for what.
Yeah I found that tricky screen. I don't know, they seem to be such a rip off for the dollars spent. I guess it's free money over the years, as I don't pay any interest on this; except that big yearly fee
Totally agree. We have the Amex because when we were younger we had other cards that we didn't have to pay off at the end of the month and got into some trouble with those.
I pay the fee because I am not very good at self-discipline and the fact that it's due in full at the end of the billing cycle keeps me honest.I usually use my points to get gift cards for places such as Pottery Barn where I get a 1 pt/dollar redemption value. Not sure even that is a great deal, but it's fun!
It works great for us. As with many cards, it really just depend on how you spend your money. The "catch" for Blue cash is that the better payoffs don't kick in until you spend $6,500 for the 12 month period. Before that it's pretty bland in that it's less than 1% for almost everything (wasn't a problem for us because we hit that at 1.5 months). After that you get 5% cash for groceries, gas, and drug store purchases and 1.25% cash for everything else.
This is great for us because we're pretty boring and spend more on groceries, gas, and common things like this than we do on travel (sad but true!) The additional warranty on purchases (most AmEx cards have this) is great as well. We keep a Discover card also because they have 5% cash for rotating groups of purchase types like home improvement stores, restaurants, hotels, department stores, etc.
Sounds like the traditional AMEX rewards programs are rubbish. I have an AMEX issued through Bank of America with a CASH reward payout option. Just redeemed 50,000 for $500, directly deposited into our checking. On top of that, we earn 1.25 points for every dollar, often more on specific types of purchases/retailers. Even better--no annual fee.
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I called and they said I could order online or at the store for the iPad.
I have a 64GB WiFi model coming in April 25th.
AmEx said to call once the charge showed up on my account to get the 40% off with rewards points. But I had to call them before I ordered, to put the note on my account since I placed the order in March but the charge won't show until April.
2 days left to get this deal.
I have a 64GB WiFi model coming in April 25th.
AmEx said to call once the charge showed up on my account to get the 40% off with rewards points. But I had to call them before I ordered, to put the note on my account since I placed the order in March but the charge won't show until April.
2 days left to get this deal.