American Express employs their own internal scoring system in addition to the FICO Score 8 model to assess candidates. This algorithm considers a number of things, such as spending habits, past American Express payments, and general financial health. The FICO Score is one of many factors taken into account during the American Express application process, but it is not the only one.
Now that we’ve addressed the pertinent queries, we can say that American Express air miles never expire as long as the account is open and in good standing. There are a few exceptions to this rule, though. For instance, any unredeemed miles will be lost if an account is cancelled due to a violation of American Express’s terms and conditions. Additionally, any miles that remain in a member’s account after a voluntary cancellation will expire 30 days after the account is terminated.
If the account is cancelled or the points are not utilized before they expire, there is a chance that you will lose your Amex points. It’s vital to spend American Express points before they expire because they usually lose value after three years. A frequent flyer program transfer or utilizing your points to pay for travel are two strategies to prevent your points from expiring.
Moving on to the worth of American Express points, 50,000 of them can be worth anything, depending on how they are used. When used to pay for travel-related items like flights or hotel stays, 50,000 Amex points are typically valued between $500 and $700. But when added to a frequent flyer program or exchanged for expensive vacation experiences, the value can rise considerably.
Last but not least, the worth of 60,000 Amex points vary according to how they are used. When used to pay for travel, 60,000 Amex points are typically worth between $60 and $900. But when added to a frequent flyer program or exchanged for expensive vacation experiences, the value can rise considerably.
In conclusion, American Express uses the FICO Score 8 model to assess applicants’ creditworthiness, but they also take other considerations into account. As long as the account is active and in good standing, Amex air miles are valid; however, points can be lost if the account is terminated or if they expire. Depending on how they are used, Amex points can be worth substantially more when they are transferred to frequent flyer programs or used to purchase upscale travel experiences.