Nearly three years ago, I wrote about a new, up-and-coming shopping rewards program called Plenti. At the time, it seemed like a novel idea backed by American Express: get rewarded when you shop at a select group of retailers, including AT&T, ExxonMobil and Macy’s. My major concern was that although it provided some return for your spend, it was inconsistent and rewards were lacking. At the time, I noted: “Frankly, there are plenty of better ways to earn points that travelers can redeem elsewhere.”
Three years later, American Express is dealt another major blow. In addition to the fragile balance the Membership Rewards program is facing, the financial services company decided to bring Plenti to a long-deserved end. With the loss of Macy’s and Chili’s as partners, the program could no longer offer sustainable rewards. The program will officially close on July 10, 2018.
What went wrong with Plenti? Was it doomed from the start? Is there still hope for those of us who have a handful of points in this program? As a requiem for Plenti, let’s look back at how the program didn’t fulfill its namesake promise.
Where did Plenti go wrong?
One of the biggest problems with Plenti was the inconsistencies from the start. In 2015, I was frustrated that while I could earn Plenti points for renting cars with Alamo, I couldn’t turn those points into free rental days. In another example: the Plenti points I earned from my cell phone bill could not be used as a discount on future bills, but rather a credit at any AT&T store. Those frustrations did ultimately change across participating retailers, but not before losing a number of partners along the way.
Without regularly spending at Plenti’s partners, it was difficult to earn enough Plenti points to actually use them. Points were valued at one cent each, with a 200 point minimum redemption for a $2 discount. Even in paying my AT&T cell phone bill every month for nearly a year, I only earned enough points to get a $10 discount at an AT&T store or Macy’s. Even the gas discounts were lacking: instead of being a discount per gallon, it was a flat discount – which is great if you know how much gas you want to put in your car, but a pain anytime else.
Of course, to bolster your Plenti earnings, you could have applied for the Plenti Credit Card from American Express, or transfer Membership Rewards points to Plenti. But both were a poor use of points: points-earning credit cards and airline credit cards offered much more rewards, while using Membership Rewards at Plenti instead of their airline transfer partners was an incredible devaluation.
Can I still redeem my Plenti points?
If you still have Plenti points, it is an incredible feat and a testament to your dedication to saving money by earning points everywhere. Plenti points can still be used between now and July 15, so feel free to treat yourself to Chili’s, or get something nice at Macy’s before these points lose all value.
If you want to try to cash in on Plenti before it ends in three months, it might be too late. Outstanding cards can still be activated, but the website is not accepting new accounts.
Should I look into other alternative rewards programs?
Absolutely! Although Plenti wasn’t very rewarding, it doesn’t mean you shouldn’t get a return for all of your spending. The one lesson we can learn from Plenti is that points are available nearly everywhere – you just have to look out for them.
I am a big advocate for cash-back credit cards and flexible points credit cards, both of which offer good rewards for spending over time. Some of my favorites include the Chase Sapphire Preferred for the generous reward categories and bonus for redeeming points through the Chase Travel Center, along with the Chase Freedom for their rotating quarterly categories.
Did you get plenty of rewards from Plenti? Or were they a rewards program you never found rewards in? Share your memories in the comments below!
Written by Frugal Travel Guy @ https://www.frugaltravelguy.com
Written by Frugal Travel Guy @ https://www.frugaltravelguy.com