Update 2/15/22: Many are seeing now a 30% discount to cover charges which gives a value of about .86 cents per point. (Others are seeing a 15% discount.) Hat tip to reader Joe
Update 10/12/21: Reader Dima reports seeing a 50% discount to cover charges which gives a value of 1.2 cents per point.
Update 10/11/21: This offer of 40% redemption discount (1 cent per point) is back again for some people. Hat tip to reader Joe
Original Post:
Some people are seeing an option to cover their American Express charges by redeeming Membership Rewards points to offset the charge and getting a 40% discount on the redemption. Whereas typically redemptions against charges offer a poor value of .6 cents-per-point, those who have this offer can offset these eligible charges at a full 1 cent-per-point value.
Lots of people get better value than 1-cent from their Membership Rewards points, but this could be useful for those who don’t. If you have a Schwab American Express Platinum card, you can get 1.25 1.1 cents per point always.
