I have read the article on ‘Here’s how and why I value my rewards points’ but I’m afraid I still am getting a bit lost. My main concern is more of the ‘earn cost’ and would appreciate some help.
I have 2 Amex cards, one is the old Amex Plat Reserve card (on the flexible points program) which earns the following :
a. 3 points per $1 spent at restaurants in Australia
b. 2 points per $1 when you spend on travel and currency purchases
c. 1 point per $1 spent elsewhere excluding utilities, insurance (except insurances offered by American Express), telecommunications providers and government bodies in Australia where you will earn 0.5 points
My other card is the NAB Amex Plat card (earns direct to Velocity) which earns 1.5 points per $1 spent everywhere.
I recently paid for a hotel stay where there was a surcharge of 3% but would have earned me 3 points/$1. Did I pay too much for that ? So basically want to know if there is a simple formula to calculate how much surcharge I am willing to pay depending on the earn points.