MilesBuzz! - Is this worth it? Companion ticket and possibly 2750 miles for $14.95

Hi. Just wondering if anyone has tried this and if it is worth doing.

http://www10.americanexpress.com/sif/cda/page/0,1641,21258,00.asp

American express has a TravelFunds® Card. You can purchase it for 14.95 and load a minimum of $300 and up to $2750 every 14 days using your american express card, mastercard or visa. So if you used a mileage visa or mastercard you could get 2750 miles.

Right now they have a promotion for a free companion ticket, but you have to book through Airline Promotions, Inc. (API).

The website says "To qualify for the Complimentary Companion Airfare, you must purchase one roundtrip airline ticket from Airline Promotions, Inc. (API) at a published fare that is not less than $349.00 (9/15-1/15) or not less than $379.00 (1/16-9/14) - before the application of any taxes."

Is it worth it?

That depends where you want to travel! There is no universal answer!

How much is the cheapest ticket on the route you want to use the companion ticket on?

This would be a good deal for tickets for two between expensive airports - but if the cheapest ticket on your desired route would be around $200 or less, it is not a good deal.

From the TravelFunds FAQ:

If I use my credit card to purchase a TravelFunds Card, will I be charged a cash advance fee?
If you use your American Express Card, you will not be charged a cash advance fee. However, if you use another credit card, you may be charged a cash advance fee depending on the card issuer’s policies. You should check with your card issuer to understand their policy.

Can I earn Membership Rewards® points when I purchase a TravelFunds Card?
No. Membership Rewards® enrollees cannot earn Membership Rewards program points for purchasing the TravelFunds Card.

The website says "To qualify for the Complimentary Companion Airfare, you must purchase one roundtrip airline ticket from Airline Promotions, Inc. (API) at a published fare that is not less than $349.00 (9/15-1/15) or not less than $379.00 (1/16-9/14) - before the application of any taxes."

Additionally,

e) In order to qualify for the complimentary companion fare, the recipient of the Companion Activation Certificate must purchase one adult round-trip fare from API, with a minimum available published coach class round-trip fare-before taxes, pfc's and surcharges- (on any of the six major U.S. carriers) that is not less than $349.00 during low season (9/15-1/15) or not less than $379.00 during high season (1/16-9/14). Fares lower than $349.00 (low season) or $379.00 (high season) do not qualify for this offer. This offer is valid between most major airports within the continental 48 United States. All airfares must be purchased through API.
e) In order to qualify for the complimentary companion fare, the recipient of the Companion Activation Certificate must purchase one adult round-trip fare from API, with a minimum available published coach class round-trip fare-before taxes, pfc's and surcharges- (on any of the six major U.S. carriers) that is not less than $349.00 during low season (9/15-1/15) or not less than $379.00 during high season (1/16-9/14). Fares lower than $349.00 (low season) or $379.00 (high season) do not qualify for this offer. This offer is valid between most major airports within the continental 48 United States. All airfares must be purchased through API.
f) All travel must be completed by November 1, 2005. Reservations require a minimum fourteen (14) day advance purchase and a Saturday night stay at your destination.

Speaking of companion certificates, yesterday I called the Citibank AA Mastercard line just to check up on offers and things they can "do" for me in order to keep their card. While they did not have/want/etc to offer me any bonus mileage they did say they can send me a companion certificate. When he read the T&C it sounded quite like the T&C on this AX offer (i.e. a certain value of the tix has to be met, only within 48 States, etc).
However, it was offered to me free so ... I couldn't say no; i'm waiting for it in the mail and i'll post with all the T&C's.
Those of you who have AA MC from Citibank might wanna give them a call as well, see how your luck is. (just don't call today the 13th if you're supersitious :D )

Regards,

Chris