How To Spend Your Rewards Points
I recently received the new “First Collection” catalog from Amex. It is basically a list of high priced items that you can buy with your gobs of American Express membership rewards points, which most black cardholders have. It has nice wine for $50,000 points, a pool table for 2.3M points. But best of all, it had a 2008 Lamborghini Gallardo. For 9.5M points, your can have a 12 month lease on a new Gallardo from Lamborghini Chicago.
For Centurion members, MR points can be converted into statement credits at a rate of $.01 per point. This means that a 12 month lease through the rewards program translates to $95,000. I think I would rather take the statement credit.
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i have the plat card and you can view the first collection online. lots of nice stuff, but if you are gonna spend the $9.5m to get the 9.5 MR points….id think you would be able to afford a lambo you can OWN rather then that much to just have one for 12 months.
Colin, You are missing the whole the point. As of Centurion member, I am earning close to 2.5 million points annually. Why would you want to buy things if you can own them for free. Never spend your own money if you don’t have to.
Anthony is absolutely correct. I actually have a gallardo sitting in my garage that I got using my points. For a reason why I believe anthony and myself are correct read my post under http://www.blackcardsource.com/buying-a-car-with-a-black-card/.
As to what Colin said, yes, if you have a Centurion card, you most likey can afford a lambo on your own, it means you are smart! Here’s why: I have several exotic cars, as I am a collector. Because they are mine, I treat them with immense care, and try to watch the miles, as they will loose value as the miles go up. With the lease from MRF points, the car is costing me barely anything. It is registered my personal business, thus the gas, maintenance, car related expenses, are all tax deductible. Not to mention, I don’t have to pay a $4500/Mo. Payment! It just makes sense.
As Anthony said, “Never spend your own money if you don’t have to.” I couldn’t agree more. I doubt anyone with this card got it by spending money in an impetuous manner, especially on the 1 thing that is almost certain to depreciate value quickly; production cars.
I just recently spent rewards points on a title of nobility investment through a brokerage that offered incentive discounts for Centurion Cardholders in a luxury magazine I read. Can’t really beat free money safe investments during a bad time in the economy! I would always go for statement credits!!!!
Im not sure who admins this blog, I’m pretty new to reading this blog. I think what would be great for us cardholders to be able to submit places offering special incentives/offers for Centurion cardholders. I know I would like to see a place online that can have such a listing.
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i see your point…i just prefer the feel of owning something outright i guess. never been a big fan of leasing.
i only have the plat card but the points i use i save for travel. free airline tickets are worth more to me then a car 
as much as id love a lambo…cant really drive one in Minnesota lol (well people here do but only for like 3 months out of the year)
I’m a Centurion owner, I’m from Mexico, I have a few pictures of the package where it came