Guide to American Express Membership Rewards
Key takeaways
- To earn Amex Membership Rewards points that have unrestricted redemption options, choose an Amex rewards card, not cash back card.
- You can redeem your points for travel, gift cards, select merchandise or statement credits, or you can transfer your points to Amex travel partners.You’ll typically get the most value from your points when you transfer them to Amex airline or hotel partners.
- You’ll typically get the most value from your points when you transfer them to Amex airline or hotel partners.
While some rewards credit cards only let you earn points or miles within a specific airline or hotel loyalty program, others, like the American Express Membership Rewards program, let you earn flexible rewards points that you can redeem in multiple ways. For example, you can redeem Membership Rewards points for travel, gift cards, merchandise, statement credits and Amex experiences, or you can transfer points to Amex hotel and airline partners.
Here’s a breakdown of the American Express Membership Rewards program, including how to earn points, how much points are worth and the best ways to redeem them.
What are Amex Membership Rewards points?
American Express Membership Rewards points are a lucrative credit card currency you earn when you make purchases with your eligible Amex rewards credit card. You can redeem these points through the Membership Rewards program for a variety of uses, including travel.
Even though all Amex reward cards earn these points, some Amex cards restrict how you can use them. For example, some of the top American Express credit cards are marketed as earning cash back, such as the Blue Cash Everyday® Card from American Express and the Blue Cash Preferred® Card from American Express. While these cards do technically earn Membership Rewards points, they don’t allow you to redeem them for things like travel. Instead, you have to redeem your points for cash back-related options like statement credits or gift cards.
Pros
- More transfer partners than other rewards programs: The program currently has 18 airline and 3 hotel partners.
- Many high-value transfer partners: Amex Membership Rewards points have some of the highest redemption values on average, thanks to their transfer partners.
- Flexible redemption options: You can redeem points for everything from gift cards and statement credits to travel and shopping purchases.
Cons
- High annual fees for some cards: To take full advantage of Amex Membership Rewards, you often need a credit card that allows points to be used for travel. Amex’s most popular cards in this category tend to have high annual fees.
- Can’t share points with other accounts: Unlike some competing card reward programs, Amex doesn’t allow you to transfer points from one card to another.
- Poor value outside of travel: While Amex Membership Rewards points offer excellent value on travel, that value can dip when you redeem those points in other ways, such as for statement credits.
How to earn Amex Membership Rewards points
You can earn Membership Rewards points by charging purchases to your card, earning a welcome bonus, using Amex Offers, and referring others to get the card. Here’s how to maximize your points earned with each option:
How to redeem Amex Membership Rewards points
You can use these valuable points in a variety of ways:
How much are Amex Membership Rewards points worth?
The value of Amex Membership Rewards points varies depending on how you redeem them. For example, Amex points are worth 2.0 cents each on average when transferred to high-value airline or hotel partners, according to the latest Bankrate valuations.
If you’re not transferring your points, you can figure out the value of your points using the American Express rewards points calculator. This chart shows the current values of different redemption options based on that calculator:
Redemption option | Membership Rewards points value per point |
---|---|
Travel booked through American Express Travel | 0.5 cents – 1 cent |
Statement credits | 0.6 cents |
Purchases using Pay with Points | 0.7 cents – 1 cent |
Gift cards | 0.5 cents – 1 cent |
Merchandise from the Membership Rewards portal | 0.5 cents |
Charitable donations | 0.7 cents |
You’ll typically get 1 cent per point when you book flights or fine hotels and resorts through American Express Travel and 0.7 cents per point when you book prepaid hotels, cruises or vacation packages. Paying for your excise tax offset fee with points would get you a value of 0.5 cents per point.
Gift cards also vary in redemption value. For example, cards from certain partners like Adidas, Banana Republic and Saks Fifth Avenue have a redemption value of 1 cent per point, while other partners like Instacart and Starbucks have a redemption value of 0.7 cents per point at the time of writing. American Express-branded gift cards are typically worth 0.5 cents per point.
For the most part, we suggest avoiding Amex Membership Rewards points redemptions that offer less than 1 cent per point in value. While your rewards are yours to spend, you’ll get more bang for your buck if you focus on redemption options that net you at least 1 cent per point each.
How does Amex Membership Rewards compare with other programs?
American Express Membership Rewards is a popular rewards program, but there are several other valuable reward programs available. Here’s how Amex Membership Rewards points compare to some of the best credit card rewards programs:
Rewards program | Baseline value | Bankrate estimated value |
---|---|---|
American Express Membership Rewards | 1 cent | 2.0 cents |
Bank of America travel rewards | 1 cent | 1.0 cents |
Capital One miles | 1 cent | 1.7 cents |
Chase Ultimate Rewards | 1 cent – 1.5 cents | 2.0 cents |
Citi ThankYou Points (Citi Premier® Card only) | 1 cent | 1.6 cents |
Bankrate valuations are based on an average of the issuer’s five highest-value transfer partners (if that data is available). This estimated value shows how much your points could be worth on average when transferred, but your results will vary.
Amex Membership Rewards transfer partners
To get the highest value out of your Membership Rewards points, consider transferring your those points to a reward program of one of American Express’s many transfer partners.
Airline partner programs
- Aer Lingus
- AeroMexico
- Aeroplan
- Air France/KLM Flying Blue
- ANA Mileage Club
- Avianca LifeMiles
- British Airways Executive Club
- Cathay Pacific
- Delta SkyMiles
- Emirates Skywards
- Etihad Guest
- Hawaiian Airlines HawaiianMiles
- Iberia Plus
- JetBlue TrueBlue
- Qantas Frequent Flyer
- Qatar Airways Privilege Club
- Singapore Airlines KrisFlyer
- Virgin Atlantic Flying Club
Hotel partner programs
- Choice Privileges
- Hilton Honors
- Marriott Bonvoy
The bottom line
Amex Membership Rewards points offer flexible redemption options, no point caps and don’t expire. They also offer some of the best value available among credit cards when you transfer your points to Amex travel partners, and also provide plenty of additional redemption options if travel isn’t your thing.
Before redeeming points, consider all of your options and determine which redemptions might provide the greatest return. Also, don’t forget to compare American Express Membership Rewards cards against other cards with flexible rewards programs, like Chase Ultimate Rewards, to ensure you have the ideal card for your spending style.
Frequently asked questions (FAQs) about Amex Membership Rewards
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