Good evening everyone, I was just looking through my recent American Express Platinum Charge Card statement when I saw major changes to the Membership Reward Program. Effective October 1, the transfer rate to British Airways and Iberia will change from 1,000 Membership Reward Points = 1,000 British Airways / Iberia Avios to 250 Membership Reward Points = 200 British Airways / Iberia Avios. This is terrible news since British Airways is arguably one of the best transfer partners for Membership Reward Points.
*sarcasm on* Don’t worry about British Airways and Iberia, American Express has a brand new transfer partner in Plenti. Plenti Points are so valuable that you can transfer 500 Membership Reward Points into 400 Plenti Points. Ohhhh ahhh! *sarcasm off*
If I didn’t see the notice on my American Express Platinum Charge Card statement, I would never have known about the changes. As of today, there is no note or mention on either of the British Airways or Iberia pages on the Membership Rewards website.
If Plenti Points weren’t bad enough, if you transfer Membership Reward Points to Plenti Points, you must use them within 2 years, otherwise your Plenti Points will expire.
Let’s not forget, 1,000 Plenti Points are worth up to $10 in savings. For more info on Plenti, please read Devil’s Advocate’s post. Prepare to be
amazed, inspired, dissapointed.
Last but not least, the Platinum card is discontinuing the Platinum Villas Program on July 31. Most people were probably not aware that there was a villas program in the first place. I guess no one will be dissapointed by that loss.
Luckily for me, I only have 6,000 Membership Reward Points to burn before the British Airways / Iberia transfer rate changes. I am skeptical that there will be any transfer bonuses to British Airways (like the 40% transfer bonus in December 2014 / January 2015), but maybe American Express will give us some kind of break before the transfer change happens.
If you got an American Express Business Platinum Charge Card during the 150,000 Membership Reward Points offer, you better figure out what you want to do with your Membership Reward Points. I think more (negative) changes are on their way. If you have any questions, please leave a comment below. Have a good night everyone.