Yesterday, American Express announced an extension of the $200 annual travel credit for Platinum Cardmembers.
Today, we just found something that will probably be announced in the coming days. In essence, it is now possible to redeem your Membership Rewards Points for a statement credit for all your purchases at the same ratio level than travel.
Thus, it is possible to use 1,000 points on all purchases for a $10 statement credit (instead of $7). This offer is valid until September 30, 2020.
As you can see, here I took the example of my American Express Cobalt™ Card. But this applies to all Membership Rewards Cards for consumers.
The same ratio of 1,000 points = $10 also applies exceptionally to purchases made on Amazon.ca.
For the Platinum Card®,an even more interesting offer is currently underway: you can redeem 1,000 points for a $20 statement credit!
Regarding Cards for small businesses, you can already redeem their points for all purchases at this ratio of 1,000 points = $10.
Thus, in this case, the American Express Cobalt™ Card is converted into a cashback card! You can earn the equivalent of a 5% cashback for all those purchases:
We already called it the best credit card for groceries (especially during the first year, the cashback can be equivalent to 10% thanks to its welcome bonus).
This new ability to redeem 1,000 credit points for a $10 statement credit for all purchases only confirms this!
milesopedia had made this suggestion to American Express Canada to help Cardmembers who have earned Membership Rewards Points with a travel goal in mind.
Given the current situation following the COVID-19 pandemic, it was essential to allow Cardmembers to redeem their points for all purchases, including groceries, at a decent ratio. We may have been heard!
Congrats, American Express for this move!
Savings are here:
