American Express is really trying to appease its members and especially those holding the premium cards where the most value one gets from it is purely travel related ie Travel credits, lounge access etc.
While everyone else has typically depreciated the value of their points in the past, today we see that Amex are offering three areas where the MRs have actually appreciated albiet temporarily till September 30, 2020.
Use Points for Purchases: From April 17th, 2020 until September 30th, 2020, you can redeem your points at a rate of 1,000 = $10 statement credit for all eligible non-travel purchases charged to an eligible American Express Card.
This is an increase from the old rate of 1,000 – $7 statement credit.
Amazon Shop with Points: From April 17th, 2020 until September 30th, 2020, you can redeem your points at Amazon.ca at a rate of 1,000 points = $10 on eligible purchases charged to an eligible American Express Card. You can choose to use your Membership Rewards points to purchase eligible items at Amazon.ca.
American Express Prepaid Cards: From April 17th, 2020 until September 30th, 2020, you can redeem your points for all denominations of American Express Prepaid Cards at a reduced redemption rate.
Here are some of the gift cards you can redeem for:
If you have a high stash of MR points and since travel is ruled out for a while, here is an opportunity for you to “cash in” on this offer.
Note, this is not something I would normally recommend as the best value for MR is in redeeming for flights in premium cabins.
Stay safe and earn and burn.
Written by Dominic Fernandes aka CanadaPointsGuy.