When you log in to Amex UK's online site - on the first page under your card information (and just under the normal MR Points balance) there is a new link I've seen that says "Redeem your points now for a travel credit".

Clicking this seems to take you through to a set of pages that let you redeem points for a credit against recent travel transactions from your card.

One one of my cards it told me I didn't have any travel transactions (probably correct) but when I went into the page on my other account I had some travel purchases - and even a few bus and train tickets showed up a redeemable! But... the conversion of points into credit is not that great compared to the value you could get from transferring points to a program like BA or Virgin. It looks to be the same value you get from using your points on the UK Amex Travel site.

That said, I like the pages and the idea. And it got me musing... despite the lower value, is there still a place for using your points in this way? And at what price point and circumstance could using your points like this become a possibility that you'd consider?

1. If you want to use points but your dates are absolutely fixed and there is no redemption availability?
2. If you want to use your points to pay some of those pesky taxes/surcharges?
3. Using your points against low cost carriers like EasyJet or Ryan Air (I know, I know)?

I guess the above has to assume you take a balanced view of the value vs. flexibility factors - and maybe this would only be a consideration for the points rich. But not having to worry about blackouts and reward seat availability has to come into this in some way, doesn't it?

I have a sneaky suspicion this may be the wrong place to ask this, as the vast majority of posters in these parts are (understandably) looking to eek out the maximum bang for your buck (point). Which I understand...I'm also one of them. So I suspect the majority may say "never in a billion years".

But hypothetically, if Amex increased the value or maybe ran special offers, lets say 1p per Point (as an example), would you ever be tempted to use your points this way - if you weren't flexible with travel dates or you couldn't find any redemption availabilty?