Consumers who like to receive rewards points for every dollar of credit card debt they compile now have another option for spending them.
American Express and Amazon.com, one of the biggest online marketplaces, have announced a partnership, according to a report from Consumer Commentary. The new deal will allow consumers who are enrolled in programs that turn their credit card debt into rewards points to spend them at Amazon.com either in addition to or in lieu of cash or other payment methods.
All a consumer in American Express’ Membership Rewards program has to do to link their accounts is visit Amazon.com’s Shop With Points page and click through a three-step process, the report said. Currently, every rewards point, which compiles at different rates for every dollar of credit card debt depending on the account, is worth about .007 cents on Amazon.
Experts say that people who want to begin compiling rewards points should search around for the program that gives them the most per dollar of credit card debt.