Hi guys,
I have almost 400k Amex Points sitting in my account. (Explorer credit card)
Mid April the redemption rates are decreasing across the board. Example, Velocity: 2 Membership Reward Points = 1 Velocity (Previously 4 Membership Rewards = 3 Velocity)
Would it be wise to transfer all my points to Velocity? I don't have any holidays coming up but don't want to receive the lower rate in the future.
Any other ideas on what to do before the deadline?
I would personally transfer to Asia Miles (Cathay) or Krisflyer (Singapore Airlines) rather than Velocity just because they have better redemption options (in fact I did transfer all my amex points to AM). However I think they both have expiration dates on points, so that is something to be aware of.
There was another thread the other day about transferring amex points which you might like to look at.
Have a look here for more options;
https://www.pointhacks.com.au/credit-cards/american-express-…
Personally, I would transfer them to Singapore Airlines (be wary of their points expiry rule), I might even consider sending them straight to Hilton Honors (worth 5 free nights at Conrad resort at either The Maldives, Bora Bora or Koh Samui locations, where rooms sell for upwards of $1,500 per night in high season).
Just to add why Singapore Airlines might be a good option;
Transferring 400K to Singapore, you almost have enough points to go from Australia to Europe in First Class return - for one person.
I was thinking Krisflyer for myself, but as the points expire after 3 years this doesn't really suit me.
At least with Velocity as long as you earn/use points every 2 years they don't expire.
Transfer it out. No point sitting there and get devalued ! Better use it and close the card.
Agree, transfer before April.
1.Contact AMEX and see if they will preserve the points redemption value for you from the change date (They are going to double my points on that date to preserve their value - different card)
2. If not, then I agree with transfer to Sing Air. You can always sell redemptions if coming up to 3 years expiry, or extend by 6 months for a small sacrifice of points. You can nominate up to 5 redemption friends and so no problem in booking for someone else. To change your original 5, you will need to sacrifice another small amount of points.
this. I also called to complain and they will double to compensate !
Wow, how much did you end up getting doubled?
In OP's case, thats a lot of points!
my balance is 500k at the moment. whatever balance is in april, will be doubled and credited in june. I think that'll be with case with peck also, as ive read on other forums, some cardholders are receiving same offer.
Is there some sort of criteria you need to be able to have points doubled? Have you been with Amex for ages or something?
@soggyandugly: nope. only been member 2 years. barely spend a lot either… however, I did call them straight away to 'cancel' as soon as deval was announced. a couple people did in that period and they got approved for it too. However, after a few weeks, according to forums, they just said no doubling of points to everyone.
@andyyle: I got very lucky. called to cancel my Qantas amex card and got offered 100k qff. few months later, I actually wanted to cancel card as I genuinely didn't use it. they offered me another 100k qff. i've been extremely lucky, however I called up asap when devaluation got announced.
As others suggested transfer to Singapore Airlines before April devaluation they have better redemptions and less tax than VA
I transferred mine to Velocity during 15% bonus promo. Better transfer it to Singapore Airlines or VA.
noob Q: how do you transfer points?
Log in
Enter the number of points you want to transfer
Done
I'm personally saving mine up to transfer into Asia Miles (Cathay Pacific). You can get a first class return to London (flying with Qantas) for 270k asia miles, or 180k for business
FYI You will pay quite a bit more in taxes flying with Asia Miles.
Eg from another forum
'MEL-SIN-ZRH SQ J we're paying ~$90 AUD taxes each with SQ via KF… but 105k KF Miles
ZRH-HKG-MEL CX J we're paying ~$290 AUD taxes each with CX via QF… and 139k QF Points (or 85k AM I believe is the pricing).'
But that example is QF not AM? QF are known for high award fees, AM aren't AFAIK.
Can confirm it is 85k AM points, but can't see the taxes unless I request a booking.
I've seen them before, the fees are higher. that's one example. But you are right, it's not easily seen on the redemption calculators.
And depending on where you want to go, Eg, Melbourne to London, on an asia miles redemption you have the choice of British Airways or Qantas. Same for a lot of other areas. You don't always fly Cathay.
Good luck getting a redemption ticket on CX First.
heh yeh, u need to sit back and snipe approx. a year out ;)
Question - I've got a lot of amex altitude (westpac altitude) points which I need to transfer or use, as I'm closing my cards there because of the points devaluation.
I'm not currently an asia miles or krisflyer member - so if I sign up, have no status, transfer points in from altitude, how easy is it to redeem against flights? I'll have enough points for a couple of business or firsts to europe or north america
check availability before you redeem. don't need status if you're straight out redeeming and you have the points ready to go. if the flights are waitlisted however, priority goes to members with higher status.
Before you transfer your points look at what you want to do e.g. Which place you want to visit. Transferring to Gift cards or hotels except SPG is a waste of the valuable points. If you need a business class or First class tickets, ensure you book it around 353 days or near as you will find seats easily available else you go into a lower pecking order as compared to the frequent flyer members.
The Best value according to me is to book business class or first class tickets or last option Economy tickets for the family.
got it… though have perhaps an obvious question, if I want to redeem for two seats (same flight, one for my partner) using points, can I do that from one asia miles account?
You could redeem the points for those Westfield eftpos gift cards where you could use them to make purchases at most shops.
yes, do that.
leave the business class seats for me!
Sorry I didnt read the question properly. I was just suggesting another way to use the points.
Bumping as I have the same question in a covid world. Looking to transfer American express reward points.
I don't have any Asia Miles and am a bit wary of transferring points there in case they expire before I can use them.
Already have a lot of Velocity points, but I guess I could take advantage of the bonus going at the moment?
Any other ideas? My balance isn't huge, around 50k. Looking for the best value I can get I guess.
You must be new here…Sell them to TUVZ!