Worst Ways to Spend Your American Express Points

Although there are plenty of great ways to spend your American Express points, there are also a lot of ways that do not really pay off at the end of the day. Using them for airline flights, cash back, or even gift cards are usually pretty safe, but there are times you definitely do not want to spend them. Here are some of the best and worst ways to redeem your AMEX points:

Worst – Last Minute Flights: If you will be flying last minute, you most likely will not be able to find the best deal. Since most cards are not affiliated with a specific airline, you may be taken for a ride sometimes. When you pay for last minute flights, you will probably get much less — each mile is worth about $0.01 during redemption, which will not get you too far.

Best – Flights: The reason you want to go with frequent flyer miles is because you can get as much as 2 or 3 cents value per mile, making it a great deal. Of course, you will have to read the fine print and figure out what works and what does not. Remember that it is always better to plan ahead and do your research, otherwise you could find yourself in a bad deal.

Worst – Merchandise: No matter what card you have, merchandise is not always the best bet. You will be paying many, many times the amount of the value of the product. If you see something that you really want, be sure to Google search it to see how much it usually sells for and make the conversion.

Best – Gift Cards: While most people do not like gift cards, you could get a good deal here. With some programs, you will be able to get gift cards at a higher level than if you were to get cash back. Once again, you will have to do some research for the best options.

Worst – Experiences: While it might be really cool to go to a concert without paying anything, you are actually losing money in the long run. When redeeming your point for different experiences like concerts, you are not getting full value of what your AMEX point is worth.

Best – Cash Back: Cash is always going to be a smart option. Credit card companies will have a harder time using a tricky conversion method and you will know the actual dollar amount. You could also consider selling your AMEX points for cash. If you are interested in this option, learn more about selling them with us by clicking here.

At the end of the day, the best thing you can do is plan ahead and do your research before spending your American Express Rewards Points.