Amex OPEN Savings: Membership Rewards, Discounts, and More

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It’s been a little over a year since I last wrote about the Amex OPEN Savings program, so I thought it would be useful to give an update on the current partners and benefits involved.

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Amex OPEN Savings is a benefit of Amex business credit cards and a good reason to consider getting one, because you can earn up to either a 10% discount or 4 bonus Membership Rewards points per dollar (although sometimes a lower 3% discount and 2 bonus points) automatically at certain merchants. You can earn additional points or receive discounts in the form of statements credits for different categories like lodging, transportation, shipping, technology, services and gifts.

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Current featured partners include:

Hyatt: Get a 5% discount or 2 additional Membership Rewards points for each eligible dollar spent up to $10,000 per calendar year with Hyatt Hotels & Resorts including Park Hyatt, Andaz, Grand Hyatt, HYATT and Hyatt Regency Hotels.

Hertz: Get a 3% discount credited to your American Express statement OR 1 additional Membership Rewards point for every eligible dollar spent up to $500, 5% discount OR 2 additional points for every eligible dollar spent above $500 and up to $2,000, and 10% discount OR 4 additional points for every eligible dollar spent above $2,000 per calendar year, per Card Account.

Carey: Get a 5% discount credited to your American Express statement or 2 additional Membership Rewards points for each eligible dollar spent.

FedEx: Get a 5% discount credited or 2 additional Membership Rewards points on each eligible dollar spent on qualifying services up to $20,000 per calendar year, per card account with FedEx Express, FedEx Ground and FedEx Freight shipping.

FedEx Office: Get a 5% discount or 2 additional Membership Rewards points on every dollar spent up to $20,000 per calendar year, per card account.

HP Home and Home Office Store: Get a 3% discount credited to your American Express statement or 1 additional Membership Rewards point on every eligible dollar spent up to $500, 5% discount or 2 additional points for every eligible dollar spent above $500 and up to $1,500, and 10% discount or 4 additional points on every eligible dollar spent above $1,500 and up to $30,000, per calendar year, per card account.

1-800-Flowers: Get a 5% discount credited to your American Express statement or 2 additional Membership Rewards points for each dollar spent.

Barnes & Noble (BN.com): Get a 5% discount or 2 additional Membership Rewards points for each dollar spent.

Amex Open Savings Benefits

Depending on how many Amex OPEN cards you have, you can log in and choose to receive discounts or earn points for each card. If you were to spend $1,000 on a stay at the Andaz West Hollywood, you would receive $50 cash back or 2,000 additional points.  I value Membership Rewards points at 1.8 cents apiece, so 2,000 points would only be equivalent to $36, and you’d be better off choosing the discount in that case. Luckily, you can change your preference once per calendar month, though changes can take up to 72 hours to take effect.

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I personally have the Starwood Business Amex and the Business Platinum Card. While my Starwood Business card is part of the OPEN Savings program, it’s only eligible for the discounts. I was able to choose between the two benefits for my Business Platinum card and decided to go with the extra Membership Rewards points for now, since I prefer to boost my point balance when I can.

As with all points-related decisions, before you put your strategy in place, think about where you’re going to spend your money and what amount you’re going to spend. Then compare the potential discount with the value you could get out of the extra points you’d earn instead, and choose whichever will serve you better.

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