New: AMEX Membership Rewards Points to Pay at Bestbuy.com

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New AMEX Membership Rewards Points To Pay At Bestbuy.com
Starting Today, You Can Use AMEX Membership Rewards Points at Bestbuy.com to Pay for All or Part of Your Purchase – but It’s NOT a Good Idea!

There’s a new way to use your American Express Membership Rewards points.  But it’s NOT a good deal.

Starting today, July 30, 2015, folks can use their AMEX Membership Rewards points to pay for purchases at Bestbuy.com.

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?

Link:   American Express & Best Buy Press Release

Link:   American Express Membership Rewards

Link:   Bestbuy.com Pay With Points

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.

New AMEX Membership Rewards Points To Pay At Bestbuy.com
Click “See Points Balance” to See How Many Points You Have Available

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.

New AMEX Membership Rewards Points To Pay At Bestbuy.com
You Can Use Points to Pay for Your Entire Purchase, or Part of It

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.

New AMEX Membership Rewards Points To Pay At Bestbuy.com
I Hope She’s Thinking of ALL the Better Ways to Use Her AMEX Membership Rewards Points!

For example, American Express Membership Rewards points are worth more when you use them for:

New AMEX Membership Rewards Points To Pay At Bestbuy.com
Get More From Your AMEX Membership Rewards Points When You Use Them to Pay for Flights Through American Express Travel

And you’ll usually get the best deal by transferring your points to airline and hotel partners, like Delta, Air Canada, or Hilton.

New AMEX Membership Rewards Points To Pay At Bestbuy.com
The Best Way to Use AMEX Membership Rewards Points Is Transferring Them to Airline and Hotel Partners for Big Travel

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!

New AMEX Membership Rewards Points To Pay At Bestbuy.com
I’d Rather Take a Flight Than Spend My Points at Bestbuy.com!

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.

Bottom Line

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?

Million Mile Secrets features a team of points and miles experts who have traveled to over 80 countries and have used 60+ credit cards responsibly to accumulate loyalty points and travel the world on the cheap! The Million Mile Secrets team has been featured on The Points Guy, TIME, Yahoo Finance and many other leading points & miles media outlets.

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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