American Express has been emailing Gold and Platinum cardholders this week with a ‘special’ offer.
If you redeem your Membership Rewards points for statement credit by 31st March, you can get a 20% bonus.
To be fair to Amex, they are very upfront about what you get. The email makes it very clear, in an example, that you’ll now get £27, rather than £22.50, if you redeem 5,000 Membership Rewards points for statement credit.
To save you getting your calculator out, you are getting 0.54p per point. This is terrible. At least, it is terrible for anyone who reads HfP and knows how much value you can get out of them with travel partners.
If you read my article on the best uses of Membership Rewards points, you’ll see that 1p per point is achievable via travel rewards.
The only possible upside from this offer is that a lot of non-HfP readers might take advantage, pushing down Amex’s average cost per Membership Rewards redemption. This would make it less likely that they will need to cut the more expensive travel rewards ….
Want to earn more points from credit cards? – September 2023 update
If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.
In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.
You qualify for the bonus on these cards even if you have a British Airways American Express card:
You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.
SPECIAL OFFER: The sign-up bonus on the Virgin Atlantic Reward+ Mastercard is doubled to 30,000 Virgin Points if you apply by 2nd October. You receive 15,000 Virgin Points with your first purchase and a further 15,000 points if you spend £3,000 within 90 days. Apply here.
British Airways American Express Premium Plus
25,000 Avios and the famous annual 2-4-1 voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review
The Platinum Card from American Express
30,000 points and a huge range of valuable benefits – for a fee Read our full review
Virgin Atlantic Reward+ Mastercard
30,000 bonus points (SPECIAL OFFER TO 2ND OCTOBER) and 1.5 points for every £1 you spend Read our full review
Earning miles and points from small business cards
If you are a sole trader or run a small company, you may also want to check out these offers:
American Express Business Platinum
40,000 points bonus and an annual £200 Amex Travel credit Read our full review
American Express Business Gold
20,000 points sign-up bonus and free for a year Read our full review
Capital On Tap Business Rewards Visa
Get a 10,000 points bonus plus an extra 500 points for our readers Read our full review
For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending.