BEST Ways to Use Amex Membership Rewards Points ( 2020 Update )
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- Äas pĆidĂĄn 5. 08. 2024
- The best and worst ways to redeem Amex Membership Rewards. [ Blog Post + FAQ ] bit.ly/2EyYYco
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3:55 Statement Credit
4:14 Pay with Points at Checkout
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5:55 Travel Portal
6:30 Morgan Stanley Cash Out
7:17 Schwab Cash Out
8:38 Amex Plat Business
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The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available
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Sebby, thank you for all the videos that you do! You got me really sorted out in this credit card thing and even though I'm in a great gardening position, I still watch all of your videos.
Glad it's helpful! :)
@@AskSebby I always learn something, thanks again
been watching your videos for awhile now such great information
Thanks! :)
Been eyeing a rimowa suitcase for some time. Seen that Amex was giving 10,000 points for rimowa purchases over 600 dollars using the platinum card. Decided to pull the trigger đ not far from 200k MR points.
Dang Seb, you should do a class or sell some sort of book to show us how you find such cheap travel, I would def. pay for that.
Happy Tuesday Sebby!!
:)
Great video thanks I did not decide what amrican express credit card to get yet
WE LOVE YOU SEBBY
đ€
Thanks for the video Sebby...I hope you might do an extended video on Amex transfer partners, I'd love to know a bit more about maximizing those values to various partners as someone who doesn't get to fly international much.
Watching a simple video good save you hundreds in life. Thanks Seb.
About to apply for a new offer and get the fee waived (military)
Nice! Which one are you going for?
Ask Sebby
Going for the Platinum or the Chase Sapphire Reserve. Iâm not sure if I can get the Platinum bonus a second time.
Amex has a once in a lifetime rule. If you already received the bonus from the vanilla, might be worth going for the Schwab next (no increased offer, but you get the bonus).
Ask Sebby
Thanks. I will check that out.
Casey Burns Investing Go for the Sapphire first to avoid the Chase 5/24 rule
great video
We need some Advanced Sebb tutorials for finding award flights and deals on Mandys channel!!!
Soon! :)
Sebby Patreon!!
Just got accepted for the Chase Freedom yesterday!
Congratulations đ enjoy đ
Congrats đđđŸđ
May I ask what type of FICO score is needed?
hey brody i have question. If you get a credit card and get the points and pay your bill in full and have it in really good standing, but your only really using it for the points and travel credits etc... does it negatively impact your score if you close the account after the first year?
Sebby what about the Dell $100 statement credit with a DJI drone? Is it worth it?
This is some fire coontext
What do you think of Amex transfer partners vs chase - do you have a video on this?
Hey Sebby, my Wife has a low 800 fico score (which is better then mine 756) with 2 credit cards from 2 years ago, one is from my authorized user. I asked her to apply for the hilton honors and she was approved for only a $1,000 limit.. meanwhile none of our cards are that low.. Any thoughts or reasons why?
Finally got the gold card!
Sebby, the kind of guy that dissects insects under microscope, while watching Netflix.
Can you still trigger the airline fee credit with Southwest gift cards?
Schwab is the most flexible one from my perspective as someone who doesnât travel by air a lot, especially during the pandemic.
Can you do an updated video on hotel credit cards?
I had been saving my points for travel. I did dip into some because of the current situation. I built it back up to about 91k points. I hope to travel in the Spring but definitely Next Summer. I hope to get a retention offer đ and have over 150k points to due a round-trip flight to the Caribbean or even a hotel flight combo.
I am planning to usethem on the travel partners for business class
Sebby saying Amex is better end game. Me getting into Amex as soon as possible đđ
Currently have around 225k MR points and I have the Platinum Charles Schwab card. My plan is to cash out these points to help pay for lasik surgery
good luck on your surgery!
@@davidjackson2179 Thanks! I will be having this done sometime in October. I really want to get it done this year just so I can say I got 20/20 vision in the year 2020
I was curious what people recommend for a second credit card?. I currently have the discover student chrome. I am in my last year of undergrad at college. My credit history is only 8 months long. I feel like there are better rewards with different cards that I am missing out on. Any suggestions would be greatly appreciated
Generally Chase Freedom/CFU. Fill out with 3 other Chase cards (tons of cards w/ downgrade paths or anniversary nights): www.asksebby.com/blog/how-much-are-chase-credit-cards-worth
If you want to talk strategy: www.asksebby.com/free-card-consultation
Any go to transfer partner for MR points similar how people say Hyatt is the best for UR points in terms of CPP?
Singapore, Virgin Atlantic, ANA, and Aeroplan are all interesting. Some of the other ones have sweet spots as well.
Assuming they stay a going concern and don't see a devaluation: www.asksebby.com/blog/best-way-to-redeem-american-express-membership-reward-points-for-travel
I was a bit sad to give up on the 100k platinum wait.. but, I jumped on a 75k gold SUB (4K in six months). I hope to get a decent plat SUB eventually and itâll even out enough.
Hey Sebby! I hope You're well... I was just informed that I was "ineligible" to earn the welcome reward on my blue cash preferred because I have a Delta Gold card. Is this correct? Does it hold true for all other Amex cards? Thanks in advance!
You ran into the bonus popup: czcams.com/video/uJEb780ofKo/video.html
The theory is that you need to spend more money on the BCP card and that might make you eligible next month.
Bonus popup parameters are also different on the family of cards (i.e., you might be eligible for Amex Hilton cards).
@@AskSebby Thanks for the advice! Keep making great videos!
Always love an Amex upload! #squuuuad
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sorry to ask watched you video. So I can transfer my MR points to Delta or any airline partners to get the most value? I got targeted for 100K amex plat. i am not sure what to do.
Delta is generally a bad transfer partner. You generally want to do SQ, EY, VS. Transfers lean aggressively towards int'l F/J.
What's your process for finding/keeping up with the best transfer partner deals?
It mostly depends on the airline you want to fly / product you want to try.
1) Where are you flying
2) What product/airline
3) Which points are most advantageous to use
I booked an airline ticket through Amex travel using MR points then cancelled the trip in 24 hrs but they refunded cash and not MR :(
Definitely a lot harder than I thought. Never find good point values for any where I would want to go. Especially on hotels.
Rite Aid also tries to use your MR points when you pay with your Amex. You need to be careful and click âNoâ when it prompts you.
Hey Sebby, can we get an update on this?
Just got approved to my Amex platinum I heard their no longer a charge card đȘđŒ
Please make a video of Southwest increased offer 65,000 đđ»
Please Sebby or anyone here answer my question:
If i have 5 credit cards, if i close one of the account would I be eligible for chase card ?
No. You opened 5 accounts regardless, so closing one doesn't matter.
How many flights/hotel stays a year would make the platinum a viable choice
In my opinion the number is at least 2 trips
Hi Sebby. I have had the Platinum card for about a year and a half. A couple months ago I opened a Schwab Brokerage account. Can I product change my Platinum to the Schwab Platinum and have all of my points go to the new card? Or do I need to apply for that card separately? Thanks
Even if you could youâd be better off just opening a new Schwab one cause youâd be able to get the welcome bonus again.
emokniet Good idea. Next time I have a lot of spend to do Iâll consider it
You cannot product change cards like that. I would take the advice above and get the schwab platinum. You will be eligible for 60k points as a SUB, maybe even 100k if you get targeted
its harder than UR points....atleast with the CSR the default 1.5 ccp makes it easier and the hyatt transfers are still the best deals alive
What would be the best way to use your points to get the maximum on hotel stays ?
Chase => Hyatt. For Amex, it really depends on the property.
Hilton might make sense when they have the 1=>3 transfer promotions.
Didn't know about the 60K for $750 at Schwab - nice! Thanks, Sebby!
Does someone know if card utilization per card matters? if I had 3 cards with $1000 limit each, does it matter if I have $300 in each or $900 in one and the rest in zero?
Better to have the balance across 3 - maxing out a card hits the score harder. Better yet, just pay the balances in full before the statement date (note: _statement_ date, not due date). Leave $5 or less on one of them - that's just to show you're actually using your credit. Credit cards are best used like debit cards - pay as you go.
James P thank you!!
Itâs been over a year and I still canât find the lynx on your website
Still watching even though I have no MR points.
:)
This is probably intentional on your part but the Amex business gold redemption at 1.33 cpp was left out.
Error on my end. I forgot the 25% rebate existed. It's really easy to dismiss it with the Platinum Business option.
My question is for everyone. I am a non-US citizen. If I have an ITIN or EIN, can I have credit cards or I have to be a citizen of the US for having a credit card?
I know of international students/workers being able to get a credit card with just an ITIN. So no, you donât need to be a citizen or green card holder.
Is the 1000 point for 2800 hilton worth it rn ?
Only if the hotel costs 28,000 points because usually the lowest are 30,000. If you are short points you will have to pay the rest in money which usually isnât worth it because of tax and resort fee
Michelin star restaurant or supermarket? đ€Łđ€Łđ€Ł
So I like looking at %âs more then XPoints. So if youâre getting for example .07Âą per point thatâs 7% back no?
Example:
Gold earns 4x back on dining. If you get 2 cents per point.
4x * 2 CPP = effectively 8% back
Ask Sebby okay thatâs what I thought. Just got the Gold Card yesterday. Iâm 22 and have 5 other cards including CSP, would you say Iâm in the top 10% for my age in terms of credit cards? Lmao
Update on how to maximize points 2022?
Hi, do you have a link for your excel spreadsheet?
Or a video on how to make it
sheets.new/
I would just build a model yourself. It should take you
Sebby for people who don't have flexible travel schedules or families who can only travel on very busy travel times when the children are out of school using points to travel is EXTREMELY difficult. It is virtually impossible to book flights with points in most of these situations, not to mention you need to move with the speed of a ninja to facilitate the transaction when things miraculously line up.
So if chase is beginning game, amex is late game. Then what's the end game. Que marvel theme music
Just got Amex platinum and my score is 720
Amex is offering $100 statement credit for every 10,000 points.
Not bad
I didnât get my NOTIFICATION! đ€đ€ But itâs cooooooool Iâm here LETSSSSSS ROLLLLLLLLL SEEEEEBBBBBBBB!!!!!đ€đ€đ€ RIP TO YOUR LIP FAM LOLOLOL đ€Łđ€Łđ
đŹ
It's a daylight video everyone!
đ Rare sighting đ
Hey sebby , hope your doing great ! Iâve been a very long time follower and I have referred several friends to your resources to help with a lot of issues. Almost two years ago I was approved for my amex plat. Thanks to a,ot of your help and knowledge I was able to qualify and find the 100,000 bonus back then đ. I was recently approved for the Schwab platinum card with the 60,000 sign on bonus. Now listening to you I am fully aware I probably will not get my 60k points due to this is a second bonus however my main goal is to utilize the brokerage account feature . Before I agreed to the terms and information online I called amex and explained my precious points and my intent to change them to cash via Schwab brokerage. The rep confirmed this is completely possible , my fear is this will still not be the case. If this is not possible it will negate my intent of opening the Schwab plat amex. Do you feel there is anything else I should do or proactively do to confirm I will be able to use this properly ? Maybe close my first amex plat first , before I use the points ? Any help is much appreciated
You can have multiple Platinum cards. Platinum and Platinum Schwab are different products -- not sure why this would be a problem.
As a frame of reference, you would get a pop up saying you are ineligible for bonus if that was the case. You should be good. Enjoy!
Iâm 19 with 8 credit cards and 3 charge cards
That's incredible I am 19 and I am about to open an amex gold in a few weeks what is your credit score if you don't mind me asking I have a 762
You might get the best points on the platinum card
You would be surprised by the cost of the ingredients for most Michelin star restaurants. The often look for the best products around.
Yup! A lot of the Michelin star purveyors in SF are selling direct to consumer right now. About 3-5x mark up at the restaurant.
Ask Sebby if you can cook like a Michelin Chef, thatâs a great opportunity to save some money then đ
That's why we've been doing sushi bowls -- hard(er) to mess it up! :) Agreed that for most meals, you're paying for their interpretation of the food + the experience they're crafting.
Same with art; value goes beyond the cost of paint.
@@AskSebby if you get the chance to watch Chef's Table documentaries on Netflix, it's quite something to see working some of the most creative and talented chefs. They bring the craft to another level; a bit like you with credit cards :)
Amex gold 733 score
Burned 300k MR for biz tickets a few years ago. Now I only do Schwab cash out for investments. Iâm gonna call my mom and tell her that I grew up
I'm gone for a few weeks from commenting and the haircut and lips situation goes crazy
đŹ
@@AskSebby đ
Hi Sebastian, how you doing man I have a quick question if u donât mind?! I used to have the Amex P back in 2006 they closed because I was going through short sale in 2010 I was a good customer with them never missed a payment.. now I have the blue card CC Iâm still good customer with good credit score so I was going to apply for the Amex P but I am unemployed do u think Iâll have a problem getting approved thanks for your time and help!
You'rd going to have a hard time with most (all?) issuers if you're unemployed. It's generally a huge red flag for underwriting.
Yup, pre-covid I was racking at least 100k worth of travel for work. Now Iâm not even making any points on my platinum card.
I think, for most, the tax question pertains to taking the distribution from your investment account more so than being taxed transferring your points out.
... flights only.
Hotel stay
This way was too complicated
You have another video showing how to turn your points in a 2.3 value and easily.
Is "the Ms." Beating you?? It's not your fault Sebby--- Join our "MeN-2" Movement!.....đđđđđ
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I never buy items with points. You should try Javabeanllc.com coffee. Itâs great
Third!
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step one never get American express no one takes it period