American Express Membership Rewards has added a new transfer partner today: Fanatics FanCash. It was speculated long ago that Fanatics would become a transfer partner when Amex began issuing the Fanatics credit card earlier this year. Points transfer at a rate of 1,000 Membership Rewards points for $10 in FanCash (which is essentially 1 FanCash cent per point). I think most folks would be better off finding a way to cash out Membership Rewards points for real money rather than transferring to Fanatics unless we see a transfer bonus.
Fanatics FanCash can be used dollar for dollar to make purchases on the Fanatics website. As you can imagine, Fanatics stocks a wide range of sports-related apparel and collectibles. From jerseys to shirts to hats to everything else, you can get a wide range of stuff to show your pride for your favorite sports team.
I believe it’s also possible to use Fanatics Cash through some partner websites like MLB Shop, and it sounds like it might even be possible to buy game tickets in some cases.
FanCash is also the rewards currency used at the Fanatics sportsbook in states where that sportsbook is available. I would expect that you could redeem your Membership Rewards points for FanCash and use it to place wagers on the sportsbook, though I wouldn’t recommend that as a smart redemption option. In fact, I generally wouldn’t recommend redeeming for FanCash at all since you would probably be better off redeeming your Membership Rewards points at 1 cent per point (if you have the ability to do so) into a checking account or at 1.1 cents per point into a Schwab account if you are an Amex Schwab Platinum cardholder. Then, you can simply use your cash to buy what you want where you want, rather than being stuck in the Fanatics ecosystem with it.
Where I think this might become interesting is if and when we see transfer bonuses. With a big enough transfer bonus, and a specific use in mind for the FanCash, perhaps it could become appealing. Absent a transfer bonus, this is a partner I would probably skip.
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