Here in the Canadian Miles & Points landscape, this week has been something of an emotional rollercoaster thanks to American Express.
We learned of the insanely lucrative Double Rewards promotion on the Platinum Card, which provides cardmembers with “double the points” and “double the value” when earning and redeeming Membership Rewards points until July 20, 2020.
The usual “3-2-1” earning rates are doubled to “6-4-2”, while your points can now be redeemed against statement purchases at an unbelievable rate of 1,000 points = $20. This makes the Platinum Card effectively a no-limit 4% cash back card with 8% and 12% bonus categories as well, propelling it to the undisputed rank of the best credit card in Canada.
On the other hand, this week we also heard a few troubling instances of American Express unilaterally cancelling cards, which seems to indicate a trend to align with its US counterpart in discouraging unprofitable behaviour among cardholders.
In this week’s video, we discuss both of this week’s developments, including how to maximize the Double Rewards promotion to full advantage, as well as how we should adapt our American Express credit card strategy given their newfound heavy-handedness.
Without further ado, you can watch the video below:
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