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There’s a new way to use your American Express Membership Rewards points. But it’s NOT a good deal.
You can use points to pay for all or part of your purchase by entering your American Express card number at checkout.
While this is a convenient way to use American Express Membership Rewards points, it’s a very poor value. I’ll explain!
How Does It Work?
You can use American Express Membership Rewards points to pay for all or part of your Bestbuy.com purchase.
To pay with points, enter your eligible American Express card number at checkout. Or use a stored AMEX card from your Bestbuy.com account.
Cards that earn AMEX Membership Rewards points include:
Once your card is entered or selected, you’ll have an option to view your points balance.
You’ll see the number of points in your card account, and have the option to pay for all or part of your purchase with points.
Your card will be charged for the full amount, and you’ll get a statement credit in ~2 days for the value of the points you redeem.
But your points are only worth ~0.7 cents each when used this way. That’s a terrible deal.
For example, American Express Membership Rewards points are worth more when you use them for:
- Flights booked through American Express Travel (1 cent per point)
- Uber rides (1 cent per point)
- Certain restaurant, travel, and retail gift cards (1 cent per point)
And you’ll usually get the best deal by transferring your points to airline and hotel partners, like Delta, Air Canada, or Hilton.
For example, you could transfer 25,000 AMEX Membership Rewards points to Delta or Air Canada. That’s enough for a round-trip coach ticket within the continental US or Canada.
Depending on the route, a flight could be worth $500 or more!
The same 25,000 American Express Membership Rewards points are worth ~$175 if you use them at Bestbuy.com.
I’d much rather use my points for Big Travel with Small Money!
That said, if you have no other use for your points, or have a small points balance you want to get rid of, this is a quick and convenient way to dispose of them!
Note: You can still shop through a shopping portal to earn bonus points or cash back, or use promotion codes and coupons for discounts. Paying with AMEX Membership Rewards points makes no difference.
Remember, you can save $25 on a $250+ Best Buy purchase with AMEX Offers until September 30, 2015.
Starting today, June 30, 2015, you can use American Express Membership Rewards points to pay for part or all of your purchases at Bestbuy.com.
But this is NOT a good deal! Your points are only worth ~0.7 cents each when used this way. You’ll get more value by using points towards airfare at American Express Travel, for Uber rides, or for gift cards.
And the best way to use AMEX Membership Rewards points is to transfer them to airline and hotel partners for Big Travel!
What’s your favorite way to use American Express Membership Rewards points?