Going Rate for AmEx Points and Is This How It Works?

iamnowhere24 on 05/02/2019 - 08:34
Last edited 05/02/2019 - 08:42

I recently posted in classified section about selling my Amex explorer points. Going through various posts and based on various comments, I posted an expected rate of 1.2cpp and got few interests…

While dealing with the first person who msged me, they first showed interest in my offer, however when I actually started discussing further, realised that they expected me to transfer to some airline points first (krisflyer) at a ratio of 1:.75 and then they will pay me the expected rate of 1.2cpp

Basically it means I m not even getting 1cpp for Amex points. Is this the correct going rate and how it's done?
I checked flipmymiles and they have offered 1.1cpp on Amex points without any conversion. The site just seems dicey and their replies are short, so quite unsure currently. Any reviews on this?

Any valuable feedback is appreciated.

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Comments

  • JIMB0 on 05/02/2019 - 09:38
    +1

    May as well wait for an offer where you get a 30% bonus for using them for a statement credit. Works out just short of 1c per point.

  • djkelly69 on 05/02/2019 - 09:56

    I don't believe you can directly transfer Amex points unless there is an option hidden somewhere or you have to call?

    • tomclancy on 05/02/2019 - 10:12

      I believe it can be done via a paper form.

  • iamnowhere24 on 05/02/2019 - 10:00

    Thanks, but there have been so many posts here selling for 1.2cpp and most have been lapped up quickly as well…

  • Lunarboogie on 05/02/2019 - 17:25

    Explorer points are a bit finecky. What you might consider doing is converting your holdings into high yielding Asiamiles or Krismiles and sell them for 1.5cpp. They tend to get snaffled up quickly due to the excellent redemption availability of those programs. Avoid converting your explorer points into less generous programs such as velocity, Thai or Skywards as there is less demand for these low yield stock. Also bear in mind that 100,000 explorer points are worth only 75,000 FF miles.

    • djkelly69 on 05/02/2019 - 21:06

      Sounds like a pretty decent option. If they sell at 1.5cpp, there is not a huge difference between transferring to AM or KF and selling directly.

      • Lunarboogie on 06/02/2019 - 07:35
        +1

        That's right. OP will take the guess work out of it for potential buyets and make the transaction more streamlined. No one in this inglorious caper of ours wants to have to do an extra conversion when they don't have to. It's a minefield already.

  • JuryWheel on 11/02/2019 - 10:08
    +1

    Im in the same boat. I have ~170k points, and my wife has ~120k (both explorer). Our 1 year's are almost up. I was thinking about transferring 50k from her to me, keep my car (sell the $400 travel voucher) but cancel her card after selling the remaining 70k (wait the 12-18 months for the next amex signup offer.)

    Selling the 70k though seems a bit hit and miss. Either advertise the 70k at about 0.7-8c per point (the buyer will simply log into the account to make the flight booking). Alternatively, transfer the 70k amex points to ~50k krisflyer points or similar and sell them at ~1.2-1.5cpp and basically just sell someone that account to do what they want with it. This is my understanding anyway…

    • Lunarboogie on 11/02/2019 - 12:22
      +1

      If you are going to sell, you're better off selling larger sums. That way you're not pfaffing around with smaller transactions, and you'd attract the bulk buyers who are willing to pay a bit more than the small timers. If I were you I'd accumulate both pools into the one account and take it from there. 290,000 explorer points is equivalent to 232,000 krisflyer points which given their scarcity will draw a crowd.

      • JuryWheel on 11/02/2019 - 12:26

        I would pool them all, ut i can only transfer 50k a calendar year so would need to pay another years fee to try and transfer the other 70k+….

        • Lunarboogie on 11/02/2019 - 15:36

          Is that right? I wasn't aware. You could just transfer hers into her Krisflyer account and have that ready to draw on for any sale. In my last sale of KF points, I redeemed the first leg of the journey on one account and the return trip on another. The purchaser was of course none-the-wiser. 1.5 cpp seems to be the going rate.

          • JuryWheel on 11/02/2019 - 16:38

            @Lunarboogie: Can you transfer two different amex accounts into one krisflyer account? (So both my and her points go into one account) or, can you transfer between two krisflyer accounts after the fact? Haven't done amex to krisflyer before.

            • Lunarboogie on 11/02/2019 - 16:50

              @JuryWheel: I understand it can be done - Peck apparently achieved it late last year - but the general orthodoxy is that your explorer points go to your krisflyer account (as the names are meant to match) and the same goes with your wife. Unfortunately you can't then transfer KF points between separate accounts which is why I booked one way on my account and the return on another. I use Velocity as the proxy for the switching function as you can transfer Velocity points to family members which can then be siphoned to KF accounts. It's a bit tricky but it can be done quickly.

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