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Golden trick- book a fight through Amex travel with points, cancel it within 24 hours. That essentially redeems your points as cash into your account with conversion rate of 1 cent.
Oh really ! That sucks !
these questions aren’t the same.
1) to maximize value, transfer to an airline partner and redeem. i like round trip flights to japan on ANA. 85k for business class from
jfk to nrt.
2) at 1 cent per point, your redemption is average. i do it occasionally myself. have bought stuff from CB2, saks, etc using points. have transferred well over 100k points at this redemption. much better than using the points for a statement credit, at least.
tl;dr: 1) transfer to airline partners 2) not a waste
This is definitely the best way to do it...all the more so if you can book a first class round trip ticket on ANA or one of their round-the-world tickets. There are also some good redemptions to other parts of the world on their airline as well.
Are you looking for something right now? Otherwise wait and transfer to a travel partner like Virgin...if they’re still around.
Pro
Charles Schwab Platinum card. You can cash out MR to your Schwab brokerage account for 1.25 cpp.
http://refer.amex.us/MARKSDAcm?XLINK=MYCP