Amex Quadruples Membership Rewards Earning for Canadian Platinum Cardholders

American Express currently has a very generous promotion for Platinum cardholders in the UK and Canada. Cardholders can redeem their Membership Rewards points for double the value. Again, this is not offered in the United States. For us, the best you can do for cash redemptions is 1.25 cents per point if you have a Charles Schwab Platinum card.

Here are the rates that you can now get outside the US:

• UK: £9 ($11.06) per 1,000 points
• Canada: $20 CAD ($14.06 USD) per 1,000 points

I read about this at Doctor of Credit at first. But, the promotion gets even crazier for Canadians. Besides being able to redeem points for cash for double the value, Amex is also awarding double points for purchases. The Platinum Card in Canada normally earns 3x on dining, 2x on travel and 1x on everything else. With double rewards, it now means 6x on dining, 4x on travel and 2x for everything else. Here is the email that was sent out (ht: reddit):

This insane promotion effectively quadruples the rewards the Platinum card earns in each category. The promotion will run for three months, from April 21 to July 20, 2020. However, at the same time, looks like Canada is having its first wave of Amex shutdowns.

We already had the shutdowns here, but will we see this double rewards and double value promo in the US? I hope so, but I really doubt it.