Amex Membership Rewards vs. Cash Back Amex if already using Chase UR
Aug 9, 2018, 10:41 pm
#1
Original Poster
Join Date: Feb 2015
Posts: 52
Amex Membership Rewards vs. Cash Back Amex if already using Chase UR
I am interested in getting an Amex card for Amex Offers and presale concert tickets. I was thinking of getting either a) the Wells Fargo Propel Amex or b) the Amex Premier Rewards Gold for 1 year and then downgrading to Amex Everyday card before the annual fee hits. The Wells Fargo Propel currently has $300 sign up bonus vs. Amex Gold has 250k Membership Rewards. My understanding is that Membership Rewards points vary in value, with the best value when transferred to partner airline and worse when redeeming for cash (about 0.007 cents per point).
I have many Chase cards - Freedom, Freedom Unlimited, and Sapphire - and have a good amount of UR points saved. I previously had Sapphire Reserve & Sapphire Preferred but downgraded after AF hit. I will probably reapply for CSR early next year. I typically use my UR points to book flights through the Chase Travel Portal when a flight is on sale (with 1.5 point boost using CSR) or transfer points to partner airline.
It seems like the WF Propel is better option for me, since the Chase UR is my primary rewards program. If I were to go with Amex and Membership Awards route, the Everyday card (1% on most purchases) would have very low points earning rate. The WF Propel (3% CB on travel & dining) would have better earning rate.
Which card should I get to have Amex Offers & presale concert tickets? Is Membership Awards Program or straight up cash back better value in this instance?
I have many Chase cards - Freedom, Freedom Unlimited, and Sapphire - and have a good amount of UR points saved. I previously had Sapphire Reserve & Sapphire Preferred but downgraded after AF hit. I will probably reapply for CSR early next year. I typically use my UR points to book flights through the Chase Travel Portal when a flight is on sale (with 1.5 point boost using CSR) or transfer points to partner airline.
It seems like the WF Propel is better option for me, since the Chase UR is my primary rewards program. If I were to go with Amex and Membership Awards route, the Everyday card (1% on most purchases) would have very low points earning rate. The WF Propel (3% CB on travel & dining) would have better earning rate.
Which card should I get to have Amex Offers & presale concert tickets? Is Membership Awards Program or straight up cash back better value in this instance?
Aug 9, 2018, 11:51 pm
#2
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I am interested in getting an Amex card for Amex Offers and presale concert tickets. I was thinking of getting either a) the Wells Fargo Propel Amex or b) the Amex Premier Rewards Gold for 1 year and then downgrading to Amex Everyday card before the annual fee hits. The Wells Fargo Propel currently has $300 sign up bonus vs. Amex Gold has 250k Membership Rewards. My understanding is that Membership Rewards points vary in value, with the best value when transferred to partner airline and worse when redeeming for cash (about 0.007 cents per point).... Which card should I get to have Amex Offers & presale concert tickets? Is Membership Awards Program or straight up cash back better value in this instance?
Aug 10, 2018, 1:46 am
#3
Join Date: Nov 2013
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Since you say that the Chase cards will remain your primary cards, why worry if the Everyday is a poor points earner?
I hadn't heard of the Propel so I did some research. It looks fine, and if you aren't putting many purchases on it then being able to cash out points at low values is helpful (i.e the 2500pts = $25), and that's a nice signing bonus.
However, Amex Membership Rewards has a benefit in that some of the airline transfer partners are common between Chase and Amex (to my knowledge Singapore, Aer Lingus, BA, Flying Blue), so you'd be able to combine your points for award tickets. This also yields the higher end of the points value (typically for booking last minute flights using awards instead of cash, or international business class).
You're right that $0.007 is the 'cash value' of an MR (including spending them at Amazon), but if you spend the points on Amex Travel (instead of transferring for award flights), you will spend 1 MR = $0.01 when booking flights on Amex Travel, and that's "as good as" cash to me, and equal to the WF card, but definitely not as competitive as the CSR with the 1.5x.
I hadn't heard of the Propel so I did some research. It looks fine, and if you aren't putting many purchases on it then being able to cash out points at low values is helpful (i.e the 2500pts = $25), and that's a nice signing bonus.
However, Amex Membership Rewards has a benefit in that some of the airline transfer partners are common between Chase and Amex (to my knowledge Singapore, Aer Lingus, BA, Flying Blue), so you'd be able to combine your points for award tickets. This also yields the higher end of the points value (typically for booking last minute flights using awards instead of cash, or international business class).
You're right that $0.007 is the 'cash value' of an MR (including spending them at Amazon), but if you spend the points on Amex Travel (instead of transferring for award flights), you will spend 1 MR = $0.01 when booking flights on Amex Travel, and that's "as good as" cash to me, and equal to the WF card, but definitely not as competitive as the CSR with the 1.5x.
Aug 10, 2018, 7:12 am
#4
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$0.007 = 0.7 cents
1 point per dollar is not the same as 1%. The value of points depends on how you redeem. If you are going to treat Membership Rewards points as if they were cash, why not apply for an American Express cashback card rather than a card that earns Membership Rewards?
Aug 10, 2018, 10:34 am
#5
Join Date: Oct 2009
Posts: 50
Unless there is a good reason that you’d need a Membership Rewards account, such as to preserve points from a corporate card or you’ll get value out of the benefits of say the Platinum Card, I’d get an Amex no annual fee cash back card.
You’ll have to divert an awful lot of spend from Chase to get any real value out of MR points.
If you purchase groceries, get the Blue Cash Everyday where you get 3% back. Otherwise, the Cash Magnet with 1.5%. You’ll get decent Amex offers and the event pre-sales.
Keep in mind that the Wells Fargo product is issued and underwritten by Wells Fargo and not American Express Centurion Bank. I have no idea what the gap is between number of Amex offers and overall customer service will be with that relationship.
You’ll have to divert an awful lot of spend from Chase to get any real value out of MR points.
If you purchase groceries, get the Blue Cash Everyday where you get 3% back. Otherwise, the Cash Magnet with 1.5%. You’ll get decent Amex offers and the event pre-sales.
Keep in mind that the Wells Fargo product is issued and underwritten by Wells Fargo and not American Express Centurion Bank. I have no idea what the gap is between number of Amex offers and overall customer service will be with that relationship.
Aug 10, 2018, 8:53 pm
#7
Original Poster
Join Date: Feb 2015
Posts: 52
Aug 10, 2018, 8:56 pm
#8
Original Poster
Join Date: Feb 2015
Posts: 52
Unless there is a good reason that you’d need a Membership Rewards account, such as to preserve points from a corporate card or you’ll get value out of the benefits of say the Platinum Card, I’d get an Amex no annual fee cash back card.
You’ll have to divert an awful lot of spend from Chase to get any real value out of MR points.
If you purchase groceries, get the Blue Cash Everyday where you get 3% back. Otherwise, the Cash Magnet with 1.5%. You’ll get decent Amex offers and the event pre-sales.
Keep in mind that the Wells Fargo product is issued and underwritten by Wells Fargo and not American Express Centurion Bank. I have no idea what the gap is between number of Amex offers and overall customer service will be with that relationship.
You’ll have to divert an awful lot of spend from Chase to get any real value out of MR points.
If you purchase groceries, get the Blue Cash Everyday where you get 3% back. Otherwise, the Cash Magnet with 1.5%. You’ll get decent Amex offers and the event pre-sales.
Keep in mind that the Wells Fargo product is issued and underwritten by Wells Fargo and not American Express Centurion Bank. I have no idea what the gap is between number of Amex offers and overall customer service will be with that relationship.
https://www.americanexpress.com/us/n...go/propel.html