Cash out MR points
 

My parents are in a financial bind and I'm helping them raise cash. They have 1.9 million MR points (!) so I'd like to help monetize them.
I know the schwab amex route for 1.25cpm. Would rather not open up a new card for my mother.
What are other options? Any recommendations for points brokers? Is 1.25 cpm the max to expect I could get?
thanks

Nobody is going to post directions and recommendations on how to violate AMEX MR terms and conditions here.

https://www.americanexpress.com/us/r...rewards/terms/

This sort of stuff of trying to do end runs around program terms and conditions and discussing that is specifically discouraged on FlyerTalk. If you really must find out about that route feel free to fire up your browser search engine. Remember, caveat emptor, and your parents could lose their AMEX MR balance and cards, but you're all adults and can make your own decisions on that.

Your options that are within program terms are using the CS Platinum at 1.25 cpp and the Morgan Stanley Platinum at 1 cpp. Also, AMEX gift cards are a way to monetize a point balance within program terms.

I think that's the best cash-out option with such a high MR balance. That's $23,750 minus the $550 CS Amex annual fee. Yes, some hassle in opening the CS account, getting the card, using the points and getting the money out of the Schwab account, but when it's all done the OP's parents have $23,200. Plus, if they put $5,000 on the card in first three months, they'll get the 60,000 MR bonus, which they can cash out for $750 (covers the AF and leaves and extra $200).

The alternative is mileage/points brokers and risking a forfeiture of all 1.9 million MR points. I doubt any of them are offering so much more than 1.25 ccp to make that worth the risk. There's also a risk that a broker doesn't live up to their end of the deal, and then what are you going to do?

I suggest you go with the easy option of 1.25 cpp with Schwab. Opening the account will take less than 30 minutes with a good guaranteed return that they can turn around and invest into low volatility investments or just use the cash as they see fit. Any option to get a higher cpp rate would require significantly more work. IMHO you can't beat the Schwab 1.25 cpp option when you factor in the benefit vs effort factor.

FWIW, I don't believe it's a TOS violation here to discuss using mileage/points brokers, even if that means breaching the contractual rules for mileage/points programs. Nor do I think that should be something that's out-of-bounds. Breach of contract is not a crime, and by itself is not immoral, though it could be immoral in some circumstances.

Still, for the reasons mentioned above, I think using a broker here would be a bad idea for the OP and the OP's parents.

There’s a difference between discussing the concept in abstract and outright saying “use this mileage broker and tell them I sent you”. OP was directly soliciting recommendations to brokers.

FT has typically been quite sensitive to outright aiding violations of program T&Cs; for instance, you might try listing some AA SWUs in Coupon Connection in a post there and see what happens to your post.

I’d also point out that while encouraging a violation of program terms and conditions isn’t fraud in a “go to jail” sense, one is explicitly violating an agreement for financial gain should they decide to sell points. FT rules specifically say “Supporting, encouraging or promoting illegal activity or fraud upon an individual or company is prohibited.” If you’re recommending mileage brokers, that’s pretty close to that line.

That's more along the lines of using FT as a transaction conduit, like craigslist. Discussion about mileage brokers and even recommending one is more like recommending one airline or hotel over another. As far as the program T&C go, there have long been discussions here about practices that violate airlines' terms and conditions -- hidden city ticketing, for example.

I've never used a mileage broker, nor have I recommending using one. I have, however, looked at prices they've offered for miles as a useful data point in determining the fair market value of miles for tax purposes.

https://www.flyertalk.com/forum/info...solidated.html

I'll leave it at that.

I got my 10000 mr points. Is amazon my best use, because I see zero value with airlines and I buy random necessities on amazon, like compost bags which are about the same as Costco in price for 300 bags.

I would look into a different gift card options first. I have gotten 1cpm with Home Depot gift cards in the past. There may be others that are valuable to you.

The OP's parents have 1.9 million MR points, so unless they have a major home improvement project in the works, a gift card won't be a good option.

I don't think the suggestion to look into home improvement giftcards was directed at the OP of the thread.

Please note that I was quoting and responding to gaobest who asked about 10k MR and using Amazon.

Ah, sorry.

No worries :)