Ask an Expert: Best Ways to Use AmEx Points?

What's Hot


How to Cut the Cable TV Cord in 2017Family

8 Major Freebies and Discounts You Get With Amazon PrimeSave

8 Creative Ways to Clear ClutterAround The House

Study: People Who Curse Are More HonestFamily

This Free Software Brings Old Laptops Back to LifeMore

Pay $2 and Get Unlimited Wendy’s Frosty Treats in 2017Family

The 3 Golden Rules of Lending to Friends and FamilyBorrow

6 Reasons Why Savers Are Sexier Than SpendersCredit & Debt

Resolutions 2017: Save More Money Using 5 Simple TricksCredit & Debt

Porta-Potties for Presidential Inauguration Cause a StinkFamily

Protecting Trump Will Cost Taxpayers $35 MillionFamily

7 New Year’s Resolutions to Make With Your KidsFamily

5 New Year’s Resolutions That Will Pay Off 10 Years From NowCollege

10 Tasty Alcohol-Free Drinks That Adults Will LoveFamily

10 Simple Money Moves to Make Before the New YearFamily

Could Your Pet Benefit From Marijuana-Laced Treats?Family

Help! What do I do with hundreds of thousands of AmEx points?

A Money Talks News reader recently wrote me with the following question:

I don’t get enough on my Gold AmEx for the $175/yr cost, so I just replaced it with a Chase Southwest Airlines Visa. But my question is: What’s the best way to use my 750,000 AmEx points? The merchandise is way overpriced. All my travel is tax deductible, so I won’t use the points to buy tickets at 100 points per dollar.

What’s the best airline to transfer points to?

Thanks,
Gary

Wow, we should all be so lucky to have more points than we know what to do with! Your first priority should be making sure that you keep your points. Do not cancel your card before redeeming them, or you’ll lose them.

There are 16 airline programs that you could transfer your points to: AeroMexico, Air Canada, Alitalia, ANA, Asia Miles (Cathay Pacific and DragonAir), British Airways, Delta, El Al, Flying Blue (Air France/KLM and others), Frontier, Hawaiian, Iberia, JetBlue, Singapore, Virgin America, and Virgin Atlantic.

To make matters more complicated, miles on most of the programs can be redeemed for flights on their airline partners. For example, British Airways miles can be redeemed on American Airlines. You also need to consider that some airlines, like Air Canada, are now charging hefty fuel surcharges on award flights.

Be sure to research these programs before you move your miles into them. Although it depends on your own travel needs, I would probably put some miles in British Airways for use on American Airlines, and move others to Delta and Singapore. This way, you will have access to flights on all three of the major alliances: SkyTeam, OneWorld, and the Star Alliance.

Finally, if you need more time to decide, you can always get the American Express Green card, which has only a $95 fee that is waived the first year. This will allow you to cancel your Gold AmEx and retain your points while you figure out what to do with them.

And if you still can’t figure it out, give me a call. I’ll be glad to take them off your hands!

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: 8 Ways to Bolster Your Finances in the Trump Era

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,891 more deals!