Starting October 1st, your American Express Memebership Rewards will be less valuable when transferring to British Airways and Iberia. In fact they will be 20% less valuable.
Instead on the current 1,000 Membership Rewards = 1,000 British Airways / Iberia Avios, the new rate will be 250 Membership Rewards = 200 British Airways / Iberia Avios.
Grant broke the news yesterday after noticing the devaluation in the Summary of Changes in his American Express Platinum Charge Card statement. There’s no mention of this anywhere on either website and I don’t see it in my recent Amex statements, but they’re two weeks old. Everybody should see the notice in their June statements.
We don’t know what sparked this devaluation, but maybe this Blazer guy might have something to do with it. He did have tens of millions of MR points. I on the other hand only have 5,806 left.