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How long has AMEX been converting their full point to a 1/2 airline mile/point? Last year I flew to Paris on Amex 1 point = 1 airline mile/point!
Seems the credit cards are lessening their value week by week to me!
WHile it is true that the rewards programs have diminished in value and continue to do so, I don't think the conversion rates from Amex to airline frequent flyer schemes have changed recently. However, for some time the conversion rate has varied depending on which frequent flyer scheme you are transferring the points to. For example, Qantas transfers at a 1:1 rate, whereas Singapore Airlines transfers at a 2:1 rate. I am not aware that these rates have changed recently.
I think Singapore, Thai and Cathay are only recent frequent flyer partners of Amex. Originally the only frequent flyer programs you could transfer Amex points to was QF and MH. So I think the 2:1 transfer ratio to these airlines is generous.