How to Use 1,000,000 American Express Points With the Business Platinum Card (Video)
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As a business owner, points can help you improve your bottom line. Business spending adds up quickly and there are a lot of different ways to use points to drive your business.
Amex OPEN recently reached out, asking us to help one of their best customers. I said I would do it, but only if they gave him a million points — which they agreed to do.
I ended up meeting with Rick Gilston, who runs Gilston Electrical Contracting Corp, and surprised him with the points. I also gave him a couple of tips on how to use points.
Check out the video below, which features three key tips:
My No. 1 way to maximize value with Amex points is to transfer to airline partners. Here are some helpful articles on the topic:
The No. 2 tip is to create employee incentive programs — including gift cards they can cash in at major retailers — although this generally gets you only one cent per point in value, so it’s not really the best way to use them. But if you’ve got millions of points and you don’t have any travel to book, this is a fun way to incentivize employees. Plus, redeeming points for gift cards is tax free.
And tip No. 3: If you have the Business Platinum Card from American Express OPEN, you can use it the way we use it — booking employee travel to get the 50% rebate (sometimes this is cheaper than coach without the card).