It is common for business owners to have purchases logged on credit cards. Also common is that these cards are credit-based, because that opens up the opportunity to profit from card purchases. Then again, many members are left unable to do exactly this – thousands of points remain in the account, which they cannot use, because the redemption options provided under the rewards program are too limited.
Maybe it is the places where you can spend these points, or the time in which you have to do it before the latter expire. These days, the most lucrative option is to simply sell your points online.
Why sell points online
The advantage of going that way is that you get significantly more on the point. Suppose if you had AmEx points and you sold them back to American Express; they would give just 0.05-0.07 cents for a point. A 10,000 points balance would be converted to, say, a 50-dollar check. Meanwhile, if you sell your points elsewhere online, you would get a cent or more for each point.
It is also usually better to sell your points this way than go in for gift cards, buy items, and then return them. Most stores would just give you back the gift card instead of cash, so all you have is wasted effort. And even if it worked, you would be earning a lot less than your money’s worth.
By that token, if you are buying airline tickets, it is more sensible to sell your points and then use that cash to buy the flight ticket you want. When it comes to the conversion rate, this is a much more profitable. When American Express transfers points to frequent flyer miles directly, you would not get the best returns.
What you need to do is find a reliable buyer for your points online. With a broker service such as YYZ Miles, you can have the points transferred to a buyer’s account, and be instantly reimbursed for this. In fact, there seems to be no better way to let go of your American Express points for cash.
Head to the YYZ Miles offer page, fill in details about the type and number of points you are looking to sell. Give the asking price and an email, so the service can get in touch when a buyer is lined up. You will see that this gets you the best deal on those points you were saddled with.