(Update: Some readers are seeing a 1 cent-per-point redemption option. Others are seeing the .86% rate, like me. Both are better than the standard .60% rate.)
I noticed today in my login that American Express is offering the option of redeeming Membership Rewards points to offset charges on the card at a better-than-usual rate. It works out for me to .86 cents per point. That’s instead of the usual .60 cents per point.
Not sure if this is available for everyone, more likely that it’s targeted. We’ve seen them offer some people as high as 1.20 cents-per-point redemption against charges in the past. Some get much more value from these point, and those who have the Schwab Amex Platinum can even get 1.25 cents easily. For others, this 1 cent or .86 cents per point might be useful.
