Author Topic: How to maximize AMEX Business Points  (Read 629 times)

lifeplus

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How to maximize AMEX Business Points
« on: January 31, 2019, 02:38:16 PM »
I own and operate a small business. I have the AMEX Business Gold Card and generate about 650k points per year on it.

My questions are:

1. What's the best way to maximize these points? I'm finding conflicting/out of date info online. I currently use the AMEX rewards site to redeem miles, but I think there's a better way to get the full value. Any tips?

2. Any thoughts on the AMEX business platinum vs gold card?

Thanks.

lifeplus

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Re: How to maximize AMEX Business Points
« Reply #1 on: January 31, 2019, 02:43:05 PM »
I'm terribly sorry about the multiple posts. I'm not sure what happened. When I posted it just spun for several minutes then showed 3 posts. Says I cannot delete my own posts so I'm not sure what to do. Hopefully someone will remove them and keep this one?

I apologize for the inconvenience.

GuitarBrian

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Re: How to maximize AMEX Business Points
« Reply #2 on: January 31, 2019, 05:30:00 PM »
You can transfer them to partner airline and hotel reward programs. As well as redeem through the travel portal, or other options...

I have 150k Amex points and haven't settled on what to do with them... I keep searching with awardhacker for flights and end up with better deals just buying outright. Last time I ended up selling them to a miles broker for 1.2 cpp. But these days I am seeing around 1.1 cpp. If you can't get that through a transfer or redemption, then maybe that would be a good option.

doggyfizzle

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Re: How to maximize AMEX Business Points
« Reply #3 on: January 31, 2019, 06:49:40 PM »
Redeem them as CASH!  Open a Schwab brokerage account, and the. Open a personal Schwab Platinum card.  Your MR points pool between personal/business accounts, and you can redeem MR points at 1.25 cents/point into a Schwab brokerage account.  Thatís $8k in untaxed cash each year.  Go for it!

doggyfizzle

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Re: How to maximize AMEX Business Points
« Reply #4 on: January 31, 2019, 06:58:38 PM »
Also, what category do you spend the most on monthly for your business?  It it isnít one of the bonuses categories for the AXP biz gold card, Iíd suggest looking into a straight cash back card like the C1 Spark, which offers uncapped 2% back on all purchases.  That would be $13k in untaxed cash back each year, FYI.

lifeplus

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Re: How to maximize AMEX Business Points
« Reply #5 on: February 01, 2019, 09:42:00 AM »
@GuitarBrian - Thanks for the info. I'm looking into the cpp value now.

@doggyfizzle - I don't want to convert to investment with the card as this is how I do all my traveling throughout the year. I do a fair bit of personal, pre-FIRE, mini retirements per year and this card has given me the flexibility to do that over the last decade. I'm doing well with my investments so that extra money is not necessary at this time for "happiness value." The travel gives me maximum happiness.

I'm curious what the top cards are for travel points for business that people recommend? Thanks.

doggyfizzle

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Re: How to maximize AMEX Business Points
« Reply #6 on: February 01, 2019, 02:16:01 PM »
Unless youíre getting better than 1 cent/point in value when using your MR points (which is only the case if you redeem them for statement credit for flights booked through AXP) or the very rare Delta or SQ xfer, youíre better off redeeming for cash and then using those funds for travel. You donít have to keep the funds in the Schwab account, itís just the intermediary to max the value of your MR points.  I get 4x points with my Gold card st grocery stores up to $25k in spending a year, which equates to 100k MR points.  When paired with a Schwab Plat, I end up with $1250 in cash.  AXP is masterful at breakage, and unless youíre getting better than $8k in value from your MR points depending on how youíre currently redeeming them, youíre better off with the transfer and using the cash to travel.  Especially if you book through OTAs like Priceline etc where you can get substantially lower rates compared to AXP.  Your points are only worth 0.5 cents when redeemed for statement credit for everyday charges, so Iíd definitely avoid that option.

Sosoli

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Re: How to maximize AMEX Business Points
« Reply #7 on: April 21, 2019, 01:19:20 AM »
My first open source contribution was for a library that I had previously used (and would've suffered greatly without) on a previously paid project.