Amazon Will Take Your Amex Points (But Should It?)

Amex and Amazon are running one of those targeted "pay with points and save" deals. It's worth a peek, mostly so you know when to walk away.

The pitch: link your Membership Rewards card at amazon.com/amexoffer, and if you're targeted, you can knock a chunk off a purchase by redeeming points at checkout. Offers vary a lot by cardholder, anywhere from 15% to 40%, with a lucky few seeing 50% (usually capped, like up to $80). You'll need to cash in at least 1,429 points to trigger it.

Here's the part we won't skip: paying for Amazon with Membership Rewards is normally a lousy use of them. Those points are worth far more moved to airlines and hotels than they are buying paper towels. The discount softens the blow, it doesn't turn it into a win.

So treat it as a "check your account" moment, not a reason to raid your stash. Got a few orphan points you'll never transfer anyway? Fine, let the discount mop them up. Otherwise, keep your points for travel and pay with cash.

Peek at the offer, protect your good points.