I’ve had an American Express card since university. My dad used to joke that I was the youngest person he knew with an American Express Gold Card. He gave one to my sister and me for emergencies when he and my mom weren’t around, so we had it pretty young. The only reason it was that card was because that was what he had to supplemental cards to.
After university, I got my own Amex in 1998, and since then, I’ve racked up a lot of Membership Rewards points. Not millions, but hundreds of thousands at least. Back when I was traveling for work, no one cared if you earned points on your personal card for work expences, so I accumulated them pretty quickly.
At first, I didn’t do much with them. But as the balance kept growing, I figured I needed a goal to work toward. A regular plane ticket didn’t seem special enough—though I probably redeemed points for one or two back in the day. Then I saw something in the American Express points catalog that caught my attention: a Concorde flight from New York to London, with a return ticket on British Airways, for 200,000 points.
I’d always wanted to fly the Concorde, but it was way out of reach financially. So, I thought, Why not make that my goal? I was almost there when the Concorde accident happened, and the planes were grounded. With my hopes of flying the Concorde gone, I didn’t know what to do with my points anymore. So, I kept saving them, not realizing that holding onto points is actually one of the worst things you can do. Their value drops over time; you’re better off spending them.
Eventually, I started redeeming points here and there. A few years after the Concorde dream died, I used some to buy M a MacBook. I know merchandise isn’t the best way to redeem points, but I think I got a decent deal on that Apple redemption. Around the same time, we used points to save almost half the cost of our honeymoon. Those two redemptions happened within about a year, but even after that, I still had hundreds of thousands of points—and I kept accumulating more, despite knowing it was a bad idea not to spend them.
Finally, in 2017, I decided to burn through everything I’d built up. Once again, I ignored the “best practices” and spent the points on merchandise. While I could’ve gotten double the value if I’d used them for travel, the item I bought had been on my wishlist for a long time: a really nice watch. So nice, in fact, that the points only covered about half the cost. Even though I didn’t maximize their value, I don’t regret it. The watch was worth it to me.
Since then, I haven’t let points pile up the way I used to.
I’m not sure what triggered the memory of the Concorde, but I made a note to write about it. Taking that flight would have been legendary, but the watch is still a pretty great consolation prize.