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What are American Express points worth?

Summary

See how much American Express points are worth and how they compare to other rewards programs’ points.

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American Express Membership Rewards points are more valuable than the average rewards point, for a variety of reasons: The points are fairly flexible, with no expiration dates or blackout dates to worry about, you have a plethora of redemption options to choose from, plus American Express has a large list of airline and hotel partners that you can transfer points to at a good value.

The Platinum Card® from American Express

Amex Platinum card

Why should you get this card?

The Amex Platinum card comes with a massive list of perks – including the most extensive lounge access of any credit card and hundreds of dollars in travel credits – making it the best value for a luxury traveler.

Learn more

More things to know:

  • 60,000 points if you spend $5,000 in first 3 months
  • 5X points on flights booked directly with airlines or with American Express Travel
  • 5X points on prepaid hotels booked on amextravel.com
  • 1X points on other purchases
  • Access to Priority Pass lounges, Centurion lounges and more
  • Up to $200 airline fee credit
  • Up to $200 Uber c

American Express points value

The value of Membership Rewards points varies greatly, depending on how you use them. There are a large number redemption options, most of which have a poor value, including cash back redemptions – AmEx gives you a mere 0.6 cent per point for statement credits.

Redemption optionPoint value
Business Platinum card airline bonus (one designated airline only)1.35 cents
Membership Rewards portal airfare (except Blue card)1 cent
Other Membership Rewards portal travel rewards (hotels, vacations, cruises) (except Blue card)0.7 cent
Membership Rewards portal travel with Blue card (including airfare)0.5 cent
Expedia travel0.7 cent
Uber/NYC Taxi1 cent
Gift cards/VouchersUp to 1 cent
Shopping partner (Amazon, Best Buy, Boxed, Grubhub, Newegg, Rite Aid, Seamless, Staples)0.7 cent
Amex Express Checkout0.7 cent
Shopping portal0.5 cent
Transfer to Plenti@1 cent
Ticketmaster & AXS tickets0.5 cent
Statement credit0.6 cent
Charity donation1 cent (up to 500,000 points, 0.5 cent thereafter)
Transfer to Schwab account (with Schwab Platinum card)1.25 cents
Excise tax offset fee (for transfer to travel partner)0.5 cent

Airfare redemptions are generally the most valuable option, especially if you take advantage of American Express’ transfer option – you can get more than 2 cents of value per point with certain partners:

Transfer optionPoint value (Includes transfer ratio and excise fee)
British Airways Executive Club2.23 cents
Singapore KrisFlyer2.16 cents
Iberia Plus1.64 cents
AeroMexico1.54 cents
Aeroplan1.44 cents
All Nippon Airways (ANA)1.42 cents
Delta SkyMiles1.29 cents
Hawaiian Airlines1.27 cents
JetBlue1.12 cents
Emirates Skywards1.04 cents
Alitalia MilleMiglia0.94 cent
Asia Miles0.94 cent
Choice Privileges0.94 cent
Etihad Guest0.94 cent
Flying Blue0.94 cent
Hilton Honors0.82 cent
Starwood Preferred Guest0.74 cent
Virgin Atlantic0.74 cent
El Israel Airlines(0.01) cent

In fact, American Express is rather stingy with travel redemptions through their own site. Most airfare redemptions on the American Express redemption travel portal will only net you 1 cent of value (and points are worth even less if you try to redeem points for other travel options). But, the fact that you can transfer points to a wide list of travel partners gives a substantial boost to Membership Rewards points — we value them at 1.19 cents on average.

As you can see from the chart below, Membership Rewards points have a fairly high value for a general credit card rewards program. They exceed the value of the average credit card rewards point (which hovers around 1 cent per point), but they’re outmatched by a lot of miles-based rewards programs.

The Membership Rewards program is also bested by the Chase Ultimate Rewards program, which is more flexible on its redemption options and gives you a 25 to 50 percent bonus on your points if you redeem them for travel through one of their premium cards.

Point value by loyalty program

Other Advantages of Membership Rewards points:

Membership Rewards points don’t expire

As long as you own at least one Membership Rewards card, you don’t need to worry about your points expiring.

There’s no limit to how many Membership Rewards points you can earn (for the most part)

There’s no cap on the overall number of Membership Rewards points that you can collect (though you may be limited on how many bonus points you can earn on a particular card).

You can redeem Membership Rewards points for a variety of rewards

You can’t complain about a lack of redemption options with the Membership Rewards program. Besides redeeming points for travel, cash back, gift cards and merchandise you have several unique options for redeeming points, including trading them for Uber credits for a decent value of 1 cent per point.

You can transfer Membership Rewards points to most of Amex’s travel partners at a 1:1 rate

American Express’s long list of travel partners is the secret sauce that puts extra oomph into Membership Rewards points – you can transfer your points to most travel partners at 1:1 rate for a good value (though – beware – a few transfer partners have terrible transfer ratios).

Your points pool into a common account

Unlike some competitors (e.g., Chase Ultimate Rewards), Membership Rewards points aren’t connected to a specific credit card account. All your points pool into a single Membership Rewards account, which makes life a little easier. You don’t have to transfer points from one card to another, nor do you have to worry about shuffling around points if you cancel a card.

Disadvantages of Membership Rewards points:

Watch out for hidden fees

There are a a few fees lurking beneath the surface of the Membership Rewards program. Booking airfare through the American Express travel portal will cost you ($6.99 for a domestic plane ticket and $10.99 for an international plane ticket), and booking through the phone will cost you even more — $39 per reservation. Also, you have to pay a 0.06 cent per point excise fee (up to $99) for transferring points to one of Amex’s travel partners – it’s a small fee, but you should factor it into the overall value of your transfer.

Most redemption options (including cash back) have a poor value

The Membership Rewards program really falls short on its cash back redemption option – you get a very low value of 0.6 cent per point when you redeem points for statement credits. This really cuts into the flexibility of the Membership Rewards program – you’re stuck redeeming points for travel (or a few other options) if you don’t want to lose a huge chunk of value on your points.

There’s a minimum threshold to redeem points

You can’t just redeem your points any time you please. You have to wait until you have a sufficient number of points to redeem them – 1,000 points for a statement credit or transfer to a travel partner, and 5,000 points for flights. These aren’t difficult thresholds to reach, but this does further limit the program’s flexibility.

See Related: Which cards earn American Express rewards points?9 ways to earn American Express pointsAmerican Express transfer partnersBest ways to spend American Express points

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Published: February 23, 2018

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Credit Card Rate Report Updated: October 9th, 2019
Business
15.22%
Airline
17.19%
Cash Back
17.27%
Reward
17.18%
Student
17.29%

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