Typically, the redemption rate for American Express Membership Rewards cardholders is 1,000 points per $10 .
But some lucky American Express credit card holders may be able to get a better account credit redemption rate with their Membership Rewards points. The deadline is September 30, 2022.
Platinum Cardmembers® or Business Platinum Cardmembers® can earn $15 in credit per 1,000 points. While American Express Cobalt® Cardmembers will receive $12 in credit for the same number of points.
This is an exclusive offer from American Express, which for the time being has only been sent to a targeted group of credit cardmembers. To see if you received this offer, check your email or go directly to your American Express account points redemption page.
On your credit card page, click on “Use points” and you will be redirected to a page where you can see the ratio of bonus points used:
Others received another very similar offer, with a slight difference: “Through October 12, redeem your points for credit and get 20% of your points back, up to 2,000 points!”
With this offer, you can redeem 10,000 points for a $100 account credit, and you’ll get 2,000 points back. Unlike the other 2 offers, once you have redeemed 10,000 point, you will return to the regular redemption rate (of 1,000 points for $10).
The benefits of American Express
As indicated in our points value system, there are times when it may be advantageous to transfer Membership Rewards points to airlines, such as Aeroplan points, to increase their value. However, if you don’t intend to use these points for flights and would rather get an account credit, this offer is very attractive as you will get 1. 2¢ or 1. 5¢/point.
If you don’t have an American Express credit card yet, now is a good time to take advantage of these great welcome offers that end on September 20, 2022.
If you received this offer and have earned a good amount of Membership Rewards points, this is a great time to redeem them and get more statement credits! If, on the opposite like me you have received nothing, do not be discouraged. American Express regularly offers interesting promotions in the “Amex Offers” section of commonly used cards. Keep an eye out for the next ones!