From 15 April 2019 AMEX are making massive changes to their reward programs, effectively reducing the value of existing points and lowering the value of future points earned. Some AMEX cards that automatically earn Qantas and Velocity frequent flyer points will reduce their conversion rates down by 0.25 points per dollar spent. Other AMEX cards which currently allow a 1:1 conversion of Amex rewards points to Frequent Flyer Points will reduce this rate down to 2:1.
WHAT TO DO?
If you are collecting Amex reward points to convert to airline programs, you should consider doing this before 15 April 2019, when their value may be halved.
If you aren’t currently looking to book flights, you need to decide where to hold your points. You should consider:
- What trips you are planning and which airlines travel there?
- Which airline frequent flyer programs are you already using?
- Are the points easy to redeem and when are they going to expire?
Singapore Airlines (KrisFlyer), Cathay Pacific (Asia Miles), and Virgin Australia (Velocity) would be our top 3 recommended programs, but each comes with pros and cons.
(It is currently difficult to convert Amex points to Qantas, but is possible through Asia Miles programs)
HOW DO I DO IT?
You can read how these changes affect you by selecting your card on the AMEX website here: CHANGES TO REWARD PROGRAMS
We suggest that you make these changes as soon as possible.
The above article is written by Mark Cunich and should be used as a guide only. Please do your own research as the changes affect people differently.