Thanks for the info about the Amex Rewards Program. I actually knew that it was worldpoints and agree that the terms and conditions changes for worldpoints make the program pathetic. I remember when redeeming for cash was 1% for almost all levels and the zones existed and they had the lower rewards levels. The reason I got this card is for the dining and travel double points through January 2006. Additionally, I am hoping that if I wait a while MBNA might allow me to convert to other MBNA affinity cards. Plus my interest rate on this card is 5.9% fixed so I want to keep that for as long as possible. I actually also have the Chase Travel Rewards program with a 7.9% fixed APR and it is better in many respects. You can redeem points on a 1 to 1 basis to Continental airlines but only a max of 10,000 points per year. Also there 25000 points award is for the 50 US states which includes Alaska and Hawaii with a max value of $500. On the other hand MBNA let you go anywhere in the 48 states canada or mexico for 25000 points with a max value of $400. This option is better for travel to mexico. Also, chase cost 45000 points with a max value of $800 to go anywhere in the 50 US States, Canada, mexico, or the carribbean.

Chase Travel Rewards
25000 points 50 US States ($500)
45000 points Mexico, Carribbean Canada ($800)
60000 points Europe, Mexico, Canada, Carribbean ($1000)
70000 points South America, Europe, Mexico, Canada ($1200)
90000 points Asia, South Pacific, South America, Europe, Mexico, Canada, Carribbean ($1500)

Worldpoints
25000 points 48 US States, Canada, Mexico ($400)
35000 points 48 states, Canada, Mexico, Alaska, Hawaii, Carribbean, Bahamas, Puerto Rico,
Bermuda ($600)
50000 points Europe ($800)
75000 points Central or South America, Africa, Asia, South Pacific ($1200)

First class awards are different. As you can see each program has its benefits although chase appears to give you more value for the number of points redeemed but several of the rewards cost more points than the corresponding worldpoints program. I have other cards that earn frequent flier miles like Amex Preferred Rewards Green Card and a USAirways card so for the limited spending I place on either the WorldPoints or Chase Travel Rewards card, I will choose the Chase card for the ability to convert into continental OnePass miles since I don't know what my travel plans look like for the next 5 years.

Sincerely,

JC