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One of the most decorated credit cards, American Express, offers exciting rewards, travel benefits, and cashback options to its users on daily purchases and purchases made at exclusive locations. It also includes a card where you do not have to pay an annual fee or sign up for additional charges. Most transactions award points that are redeemed later on. However, some users prefer to sell Amex points. But why so?
While reward points look attractive, they come with rules, terms, and conditions. Users have to spend a bounty to earn these points and then compromise on where the points are redeemable. Through this article, we take a sneak peek into the advantages of selling Amex points and the process involved.
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Make sure to stay till the end to understand the best worth of your Amex points!
Sell Amex Points – The Process
There is no direct involvement of American Express in this process. To sell Amex points, you need to get in touch with an authentic broker, popularly referred to as a “Miles broker”. Once you establish contact with a broker, give all the points-related details to that broker. You might also have to share your American Express ID and security details.
A deal has to be negotiated and struck between you and the broker specifying how much money would be deposited once the broker is allowed to sell Amex points. Check out this article if you want to know whether your credit card number is valid or not.
Purposing Of Selling Points
As stated earlier, a great amount of spending is essential to earn rewards that can give back good perks and benefits. Instead, accumulating these same points and converting them to cash seems the more profitable option. Another factor involved here is the popularity of Amex points. Even with their terms and conditions, Amex points are extremely popular compared to reward points offered by other credit cards. This ensures that there are as many users keen on buying points as sellers. A user will face very little difficulty converting Amex points to cash, as some other users will eventually repurpose these points soon.
Visit: Rewards and offers of American Express
How To Get Amex Points?
Before you sell off the little points you have, understanding how to earn them is pertinent.
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Purchases
Like all credit cards, American Express offers certain points on purchases made daily.
Additional points are provided if purchases happen to be at a specific location, as specified by American Express. Again, the number of reward points gained depends on the type of Amex card used. Basic cards offer fewer points, while premium cards offer larger issues. Purchases are probably the best way to get Amex points.
Visit: Global American Express
Referrals
Users stand a chance of earning bonus points when they refer other users to apply for an Amex credit card. Upon receiving approval, the referrer can get between 5,000 to 20,000 Membership Rewards based on the referred card. If you want to produce visa credit card in bulk, click here
Rakuten
Ensure you link your American Express account to Rakuten and use it extensively for online shopping. This online shopping portal is capable of maximizing your reward earnings. Upon making a payment, if you are eligible to earn a cashback, choose the option of earning this cashback in the form of Amex Membership Rewards points.
The beauty of this process is that the value of points is equivalent to that of the cashback being provided (For example, a 15% cashback translates to 15 reward points).
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Offers
American Express has a variety of offers that a user must remember to add to their Membership Rewards Account. Adding rewards to your account and making qualifying purchases for the same results in accumulating all the points on offer and certain discounts on the investment.
Reward Combining
If you have two or more Amex credit cards, you have a greater chance of point accumulation.
As points obtained from any Amex credit card of a single member are all collected and stored in the Membership Rewards account.
What Are My Amex Points Worth?
To get maximum conversion, a smart user should sell Amex points at the right moment. To sell at an appropriate moment requires you to know the value of each point. There is no exact amount allotted to each point. However, each point can be allocated a value based on the type of transaction required to earn the same.
For example, travel transfer offers a high cash return of 0.8 cents per point to 1 cent for every 2 points. Other transactions, such as general travel, online shopping, retailing, etc., offer around 0.5 cents per reward point.
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Visit: Membership Rewards | American Express India
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Frequently Asked Questions (FAQs)
What are some of the authentic Miles brokers?
1) MilesBuyer 2) SellMyMiles 3) DoNotPay 4) The Points King These are just some of the brokers that happen to be on our radar and are, in fact, quite good at what they do. Users, however, are free to explore more options.
Is selling Amex points an illegal activity?
While American Express might have a serious moral problem with its users selling their points, it is perfectly safe to sell Amex points, and there is nothing illegal about it. A user has complete authority over their points, and selling points over lack of good returns in the form of rewards is legitimate.
How do I choose a Miles broker?
Ideally, you should go with the broker offering you the highest points to cash conversion rate. However, always remember that you would have to share your American Express ID with the broker; hence, choose an authentic, safe, and profitable broker. Do not fall prey to internet scams.
Can I get cash for my points directly through American Express?
This can be done only by using the cashback option of American Express (values of points mentioned above). This falls under the category of reward redemption itself, where reward points are redeemed for a statement credit.
Is there a best Amex credit card to sell maximum points?
The selling of points does not directly depend on your Amex credit card. However, having premium cards brings you more points, and the greater the points, the greater the possibility of them being converted to cash. Multiple cards bring in more points as well.
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Conclusion
Amex points have been trendsetters in the credit card market, with their rewards, points, cashback, and perks still being popular for many years. This is even though many users feel that their accumulated points are not yielding satisfactory rewards and that utilizing these points has to happen.
It is also advisable not to sell points immediately and wait for an appropriate time. It may also happen that American Express could make its reward redemption more user-friendly, and you might regret selling Amex points.
And that’s a wrap! Now go and grab those points you have wanted so desperately!
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