AMEX Turbo Points and Cash Back

American Express Charged Card members can once again get 3X reward points by enrolling in their Turbo program. Existing Turbo Rewards members will be automatically renewed for another year. There is a fee of RM100 to enroll for the Turbo Rewards. 

Cilck here for more info on AMEX Turbo Rewards.

AMEX members can now convert their Membership Rewardss Points to Cash Rebate. For every Every 200 Membership Reward Points = RM1.00 Redemption Cash Back (have to be in block of 200 points). Since every ringgit you spend you get 2X Membership Reward Points, this cash back is equivalent to 1%.

Now if you enroll in Turbo Points, the cash back works out to be equivalent to 1.5% which is pretty good as you get the same 1.5% no matter how  much you spend (tierless). 

The only set back is that you have to choose between the cash back or cash vouchers (which in terms of Ringgit you will most probably get more).

Click here for more info on AMEX Cash Back.

Having noted the above mentioned Turbo Rewards and Cash Back, lets see if it is worth while to enroll in Turbo.

Case 1, not a Turbo enrollee.

Lets say you spend RM20,000 before March 31, 2010, your points will be 40,000 where you can redeem cash back of RM200.

And if you spend RM50,000 during the same period, you will get RM500.

Case 2, you enroll into Turbo Reward program.

You spend RM20,000 before March 31, 2010, your points will be 60,000 where you can redeem RM300. After deducting RM100 to enroll, it is the same as if you did not enroll with Turbo Points.

So it can be said that if you do intend to spend more than RM20,000 before April 2010, it is worthwhile to enroll into Turbo Rewards.