Are you tired of playing the points game with American Express and feeling like you're just spinning your wheels? Do you feel like you're constantly swiping your card, but never quite accumulating enough points to redeem for something truly valuable?
Don't worry, we've all been there. But the good news is, there's a way to break the cycle and start earning cash back (aka cashback) and points with American Express that you can actually use. And the even better news is, our app makes it super easy to do just that.
In this article, we'll show you how to turn those pesky points into cold, hard cash (or at least some really great rewards). Stick with us, and you'll be a rewards pro in no time.
What are Amex Points and How Can I Earn and Use Them?
Amex points, also known as American Express Membership Rewards points, are a type of rewards currency earned through spending on American Express credit cards. There are various ways to earn and redeem Amex points, including the following:
1. Spend Amex Points for Travel Bookings
Using American Express points to book travel can often be a wise choice because it allows you to get a good value for your points. When you use your points to book travel through American Express Travel, you can receive an average discount of 10% on eligible Insider Fare flights from over 40 airlines. Additionally, using your points to pay for travel can often be more cost-effective than redeeming them for other options, such as merchandise or gift cards.
Another reason why using Amex points for travel bookings might be a wise choice is that it allows you to save money on your travel expenses. By using your points to pay for flights, hotels, and other travel bookings, you can potentially save hundreds of dollars that you would otherwise have to pay out of pocket. This can make it easier to afford more expensive or luxury travel experiences that you might not have been able to afford otherwise.
2. Earn Amex Points with Their Credit Card Sign-Up Bonuses
Some American Express credit cards offer bonus points as a welcome offer for new cardholders. For example, the Platinum Card® from American Express currently offers 80,000 Membership Rewards points after spending $6,000 in the first six months of card membership. With Platinum card is good to know that it comes with a pretty hefty $695 annual fee.
3. Use Points by Shopping with Partners
American Express has various shopping partners that allow you to link your account and apply your points at checkout with a single click. You can also use your Membership Rewards points via PayPal anywhere that accepts the service.
4. Redeeming for Statement Credits or Gift Cards
You can also redeem Amex points for statement credits or gift cards to use at your discretion. To do so, log in to your American Express account and select a credit card account that earns Membership Rewards points.
We would not recommend this since the cash value of the points is not that great.
5. Paying for Purchases with Points
Some American Express credit cards also allow you to use your points to pay for purchases directly at a rate of one cent per point. For example, the Business Platinum Card from American Express and the American Express® Business Gold Card both offer this option.
The same thing applies here as it does when redeeming the statement credit - the low cash value of Amex points makes it a not so attractive choice to pay for products with points.
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How is Cash Back Different Than American Express Points?
1. Redeeming Rewards
Cashback rewards are paid out in the form of actual cash, which can be used any way you please. American Express points, on the other hand, can be redeemed for various benefits such as travel, merchandise, gift cards, or statement credits, among others. [1]
2. Welcome Bonuses
Travel rewards cards, such as those from American Express, often offer higher welcome bonuses than cashback cards. For example, The Platinum Card® from American Express currently offers a welcome bonus of 100,000 Membership Rewards Points, which is worth $2,000 according to TPG calculations. [3]
3. Rewards Rates
The value of cashback rewards is typically expressed as a percentage of your spending, while the value of points can vary depending on the card and how you redeem them. For example, a cashback card that offers 2% cashback on all purchases would give you $2 in cashback for every $100 you spend. On the other hand, the value of points earned with a card that offers 2x points on all purchases could vary greatly depending on the card and how you redeem the points. [4] [5]
4. Ease of Use
Cashback rewards are generally easier to understand and use than points. With cashback, you simply earn a percentage of your spending back in the form of cash. Points systems, on the other hand, can be more complex and may require more effort to redeem for maximum value. [2]
Easy Way to Earn Points and Cash Back with Your American Express
Since you're an American Express cardholder, you know the value of earning points through your spending. But what if you could turn those points into even more rewards? With Benjamin Cash Back App, you can do just that – and the best part is, you don't have to do anything special to start earning. Just link your American Express card to our app, and you'll start earning cashback on every purchase you make. Plus, our app offers boosted offers where cashback can go all the way up to 30% on certain categories like food and travel.
For example, if you book travel bookings through our app and pay with your Amex, you'll earn both points and huge cashback. It's a win-win situation! And the more you use your linked card, the more cashback and points you'll earn. It's that easy.
So don't wait any longer to start maximizing your rewards. Link your American Express card to our app today and start earning cashback and points on every purchase. Your dream vacation or that big purchase you've been saving for could be closer than you think.
