What is the best way to spend Amex points? I feel transferring to Airlines (whose 1 mile < 1cent) is not a good way to redeem them.

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Airlines is the best option if you’re converting the airline points to flights at more than 1:1.

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Airlines are always the highest value. Some airlines are better than others as well. Gotta do your research on current reward fare availability across carriers to ensure the best deal.

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Airline miles are usually worth around 1.5 cents or more OP. That being said, it's not so easy to figure out which of Amex's transfer partner partners are the right ones to transfer to for getting where you need to be. Easy redemptions options including transferring to Delta (~1.3 cents per point in value), redeeming for gift cards (make sure 1 point will get you 1 cent), or using them on Uber (1 cent per point)
Also, if you have a choice - my opinion (and the opinion of many of my fellow points enthusiasts) is that the CSR is much better than whatever Amex you're using

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