The American Express business Platinum card offers the ability to cash out Membership Rewards points at 1 cent-per-point if you also have the Amex Business Checking account. The past few weeks or more this option did not work for me in the online login, and we’re now learning that this is a system-wide issue. Hopefully just a temporary thing (though, as mentioned, it’s been going on for a bit already now).
Luckily, I learned today from Travelonpoints that it’s still possible to process the 1 cent redemption by calling in. Good to know. Would have helped me to know this a few weeks ago before closing out my Business Platinum card.
Update: Readers note that you can also try redeeming via chat; it’s said to be YMMV, some reps will do it and others will tell you to call in.
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I dont have the platinum account.
I just realized that I have 40k points sitting in my rewards account from when I opened the business checking account about more than a year ago.
What is the best option for someone like me?
Anyone? thanks
I redeemed 40,000 points yesterday through chat.
on the american express website for business checking, it seems to imply that you don’t need a Platium business card to cash out also to business checking if you have membership reward points. Is the redemption ratio different if you don’t have platinum?
Yes. With a BizPlat it’s 1 to $.01 ratio instead of 1 to $.008.
Yes. Without the Platinum, the rate is 0.8 instead of 1 cpp.
I was able to do it via chat last week. I’m not sure how it could be a security related if they are fine transferring points to other programs online.
This was implemented weeks ago (maybe months ago) as a security measure. No indication that it will be re-enabled through the online portal any time soon.
I think we all know thats not true. They are trying to stop a certain segment of big balance MR accounts that are cashing out 1,000s of dollars
A few weeks ago I cashed-in some points via my business platinum @ 1 cent. Yes, you have to call the number on your card and ask for business checking. Seems fraud/hacking was the reason given for not being able to do online. I’m thinking this will stay – no online and only by calling.
you can also have them do it for you via chat! i’ve done that before, but you have to get lucky with a rep who actually knows how to do it. the ones who don’t know how will just say it’s not possible via chat.
The business checking has this problem and has had this problem for 6 months when it comes to the .8 cash out of MR. I had to call up for them to be able to do it. It’s a known issue.
Sometimes it works via chat, sometimes they ask you to call in.