Here is an interesting little trick – only valid until Monday night – which lets you convert American Express Membership Rewards points to IHG Rewards Club points at a ratio of 1 : 2.2.
This offer is only available to American Express Platinum cardholders.
I thought IHG Rewards Club wasn’t an American Express partner?
It’s not. It dropped out of Membership Rewards in 2012.
However, there are currently two interesting things going on:
until Monday night, you can buy up to 500,000 IHG Rewards Club points for 0.5 cents (0.39p) each in their ‘100% bonus’ promotion – see this page of ihg.com
until 20th July, American Express Platinum cardholders can redeem Membership Rewards points for 0.9p of statement credit – this is double the usual rate of 0.45p per point
How can you convert Amex points to IHG Rewards Club?
This is what you do:
buy IHG Rewards Club points before Monday night, paying with your American Express Platinum card
redeem Membership Rewards points to offset the charge when it hits your statement
This is how the maths works, as an example:
I buy 100,000 IHG Rewards Club points for $1,000
With the 100% bonus, I will actually receive 200,000 points
$1,000, factoring in the 3% Amex foreign exchange fee, should cost me £804
I can use 89,333 Membership Rewards points to pay off the £804 charge on my Amex Platinum statement (£804 / 0.9p per point)
I have used 89,333 Membership Rewards points to get 200,000 IHG Rewards Club points. This means 2.23 IHG Rewards Club points per American Express Membership Rewards point.
(It will actually be slightly better value, because I haven’t factored in the extra 1,608 Membership Rewards points you would earn on the purchase at the current promotional rate of 2 per £1.)
Don’t forget …..
this ONLY works for holders of The Platinum Card, as they are they only people who can redeem points for statement credit at 0.9p
this ONLY works until midnight on Monday, when the 100% bonus buying IHG Rewards Club points ends
Apart from that, it isn’t a bad deal if you want to get your hands on some IHG Rewards Club points without using real cash.
Our original article on how the 0.9p statement credit deal works for Platinum cardholders is here.
You can buy IHG Rewards Club points here.
(Want to earn more miles and points from credit cards? Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Cards Update’ link in the menu bar at the top of the page.)