Reedem Centurion Points for Money
Do you have a lot of amex rewards points? If so, one option for Centurion members is to use the Pay with Points benefit. This program allows Centurion members to receive a $0.01 statement credit for ever 1 membership rewards point redeemed. This essentially allows for a 1% cash back program on the Centurion card.
Non Centurion cardholders who are enrolled in the membership rewards program can also redeem their points for money instruments as well, like gift cards. However this redemption is at a much lower rate, essentially 50% less. For non Centurion members, the rate is 1 point= $0.005. Meaning a gold card holder could redeem his/her 20,000 point supply, for a $100 gift card.
The 1% back option for Centurion members can be a big perk, especially for big spenders, as it doesn’t require you to pay the balance early, like the plum card, to receive the cash back option.
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Comments
I was referring specifically to Amex gift cards, that can be used wherever amex is taken. Do you think the saks certificated were redeemed at a higher rate because of a partnership? I could be wrong though, as I have never actually redeemed points for an amex gift card.
Here is an example of how it works. If you have a $1000.00 airline ticket, it takes $10,000 amex points to pay for it. It is double that with the Platinum card.
Hi,
I think the info about redeeming on other card is inaccurate. On several occasions, I have redeemed points from both my Gold and Platinum at point/$0.01…. (Saks certificates, for example).
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