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American Express Membership Reward points can be extremely valuable if they are redeemed in an effective way. The best way to use Amex points is usually transferring the points to a travel transfer partner, such as a hotel or airline.
However, if you have sitting on a large stash of Amex points, it might be better to cash out the points before the points are devalued. Travel hackers sometimes use the phrase “earn and burn,” which refers to earning as many points as possible and “burning” them on travel, cash out, or other redemptions rapidly before the points are devalued.
American Express is a military-friendly company, offering credit card annual fee waivers for active duty servicemembers, military spouses, and Guard and Reservists on 30 day or longer active orders. The Amex fee waivers include premium cards like The Platinum Card® from American Express.
Accumulated Membership Reward points can unlock a world of travel luxury and savings if used correctly.
The Platinum Card® from American Express
Learn how to apply on our partner's secure site
- Annual fee of $695 waived for US military personnel and spouses
- Earn 80,000 Membership Rewards® Points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership.
- Earn 5x points on airfare booked directly with airline or on amextravel.com up to $500,000 per calendar year
- Earn 5x points on prepaid hotels at amextravel.com
- $200 Hotel Credit: Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®.
- $240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you pay for eligible purchases with the Platinum Card® at your choice of one or more of the following providers: Peacock, Audible, SiriusXM, The New York Times, and other participating providers. Enrollment required.
- $200 Uber Cash: Uber VIP status and up to $200 in Uber savings on Uber Eats and rides
- $200 Airline Fee Credit: Up to $200 in statement credits per calendar year in baggage fees and more at 1 qualifying airline
- $100 annual Saks Fifth Avenue credit, can be used for gift cards, enrollment required
- 40 Centurion Lounges and 1200+ Priority Pass airport lounge access for free
- $189 CLEAR® Credit: Breeze through security with CLEAR® lanes available at 100+ airports, stadiums, and entertainment venues and get up to $189 back per calendar year on your membership when you use your Card.
- $300 Equinox Credit: Get up to $300 back each year on an Equinox+ subscription, or any Equinox club memberships when you pay with your Platinum Card. Enrollment required. Learn more.
- $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax.
- No foreign transaction fees
- Heavy metal card that looks and feels really cool. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
- The Platinum Card® from American Express – learn how to apply
- Read my full review of the Amex Platinum card for military, terms apply
In this post:
Amex Travel Portal
You can use Membership Rewards points to book travel directly through the Amex Travel portal. Points are worth 1 cent each for flights booked through the portal.
Transfer to Travel Partners
Membership Reward points can be transferred to more than 20 travel partners, including Delta, British Airways, ANA, and hotel partners like Hilton Honors and Marriott Bonvoy. It's worth noting that I once used 240,000 MR points for a $27,000 first-class flight from Hawaii to Tokyo, Japan. That's 11 cents per point – a tremendous value!
American Express Platinum Card® for Schwab for Membership Rewards Cashback
A unique strategy for MR points involves the American Express Platinum Card® for Charles Schwab. With this card, you can cash out MR points at 1.1 cents each into a Schwab investment account.
This option can be great for those focusing on growing their investments or just want cash back.
- Learn how to apply for the American Express® Gold Card
- $250 Annual Fee waived for US military and spouses
- Earn 60,000 Membership Reward® Points after spending $4,000 on eligible purchases with your new card in the first 6 months of Card Membership
- Earn 4x points at restaurants, plus takeout and delivery in the US
- Earn 4x points on US supermarkets (up to $25,000 per year, then 1x points) – includes OCONUS Commissaries
- Earn 3x points on flights booked directly with the airline or on amextravel.com
- No foreign transaction fees – great for the 4x on restaurants when travelling for fun, OCONUS TDY, or PCS!
- $120 Uber Cash on Gold: Add your Amex Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 annually.
- $120 per year Dining Credit: Earn up to $10 per month in statement credits when you use your Amex Gold atGrubhub, The Cheesecake Factory, Goldbelly, Wine.com, Molk Bar, and select Shake Shack locations. Enrollment required.
- Choose between the Gold or Rose Gold version when you apply.
- Read my full review of the Amex Gold card for military, terms apply
Combine Amex Points with Chase Points
While you cannot directly combine Amex Membership Rewards points and Chase Ultimate Rewards points, there are some overlapping credit card travel transfer partners. For instance, both Chase and Amex allows transfers to British Airways, Marriott Bonvoy, Singapore Airlines, Emirates, and Etihad.
If you have a big redemption to make at a Marriott Bonvoy property like the Ritz Carlton Kyoto or a long haul Singapore Airlines business or first class flight, combining your points from different credit cards at one transfer partner can yield massive redemption value.
American Express® Green Card
Learn how to apply on our partner's secure site
- Earn 60,000 Membership Rewards® Points after you spend $3,000 on purchases on your new Card in your first 6 months of Card Membership.
- Plus, earn 20% back on eligible travel and transit purchases made during your first 6 months of Card Membership, up to $200 back in the form of a statement credit.
- Earn 3X Membership Rewards® points on travel including airfare, hotels, cruises, tours, car rentals, campgrounds, and vacation rentals.
- Earn 3X Membership Rewards® Points on transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways.
- Earn 3X Membership Rewards® points on eligible purchases at restaurants worldwide, including takeout and delivery in the US.
- $189 CLEAR Plus Credit: Receive up to $189 per calendar year in statement credits when you pay for your CLEAR Plus membership (subject to auto-renewal) with the American Express® Green Card.
- $100 LoungeBuddy: No airport lounge membership? No problem! Purchase lounge access through the LoungeBuddy app using the American Express(R) Green Card and receive up to $100 in statement credits annually.
- Payment Flexibility: When it comes to paying your bill, you have options. You can always pay in full. You also have the flexibility to carry a balance with interest or use Plan It(R) to split up large purchases into monthly payments with a fixed fee, up to your Pay Over Time Limit. You may be able to keep spending beyond your limit – you'll just need to pay for any new purchases in full when your bill is due.
- Trip Delay Insurance: If a round-trip is paid for entirely with your Eligible Card and a covered reason delays your trip more than 12 hours, Trip Delay Insurance can help reimburse certain additional expenses purchased on the same Eligible Card, up to $300 per trip, maximum 2 claims per eligible account per 12 consecutive month period. Terms, conditions and limitations apply. Coverage is provided by New Hampshire Insurance Company, an AIG Company.
- No Foreign Transaction Fees: No matter where you're traveling, when you use your American Express® Green Card there are no foreign transaction fees.
- $150 annual fee waived to $0 with Amex MLA benefits
- Terms Apply.
Mistakes to Avoid
Don’t Transfer Points Unnecessarily
Never transfer points to travel partners unless you have a specific redemption in mind. Once transferred, points can’t be moved back.
I have made this mistake several times with airlines that seem to show availability for a specific flight but I cannot complete the booking once the points are transferred. Call the airline if you require assistance in booking a specific flight with points.
Don't Squander Points on Low-Value Redemptions
Avoid using points for options like shopping, gift cards, or Amazon purchases. These redemptions rarely offer good value compared to travel bookings or transfers to partners. Amazon purchases are usually only valued at .7 cents per redemption.
If you want to use your points for Amazon purchases, cash out your points through the Amex Platinum for Schwab first at 1.1 cents each, and then use the points for Amazon purchases. Using the Schwab Amex Platinum earns you 57% more value for your points. Instead of 100,000 points = $700, 100,000 points = $1,100.
Don’t Let Points Expire
Amex points don’t expire as long as your account is open and in good standing. Closing a card without using or transferring the points first can lead to loss of those points.
If you are considering closing an Amex card, perhaps consider opening a no annual fee American Express card that earns Membership Rewards so that you don't lose access to your points. For instance, The Blue Business® Plus Credit Card from American Express earns Amex Membership Rewards points and has no annual fee.
The Blue Business® Plus Credit Card from American ExpressLearn how to apply on our partner's secure site
- Earn 15,000 Membership Rewards® points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership.
- Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
- You've got the power to use your Card beyond its credit limit* with Expanded Buying Power.
- *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors.
- No Annual Fee
- Terms Apply, see rates and fees.
FAQs
Best Way to Use Amex Points | Sweet Spot Redemptions? ›
Earn 75,000 Membership Rewards® points after you spend $5,000 on purchases within your first six months of card membership. Earn 10x points on eligible purchases at U.S. gas stations and U.S. supermarkets, on up to $15,000 in combined purchases, during your first six months of card membership.
How do I maximize my Amex rewards? ›- Select the Right Card for Regular Use. ...
- Select based on sign-up bonus points. ...
- Use your card for the big spends. ...
- Use your credit card for mobile wallets. ...
- Shop online through your credit card's website. ...
- Sign up for the perks. ...
- Use your card for business expenses.
- Book travel via the AmEx portal or Expedia. ...
- Transfer points to travel partners. ...
- Use points to upgrade your seat. ...
- Cover your card charges. ...
- Shop with points via the American Express site. ...
- Use points toward online purchases elsewhere. ...
- Redeem for gift cards. ...
- Donate to charity.
- Transfer points to airline partners. ...
- Transfer points to hotel partners. ...
- Bid on upgrades. ...
- Book travel directly via American Express. ...
- Pay off your credit card bill. ...
- Go shopping. ...
- Donate them to charity.
Earn 75,000 Membership Rewards® points after you spend $5,000 on purchases within your first six months of card membership. Earn 10x points on eligible purchases at U.S. gas stations and U.S. supermarkets, on up to $15,000 in combined purchases, during your first six months of card membership.
Is it better to get Amex points or cash back? ›Cash-back credit cards typically offer better value when the redemption options on a points card don't appeal to you. If a points card offers cash-back options at all, it may offer cash back at a lower value than other redemption options.
How much is 75 000 Amex points worth in cash? ›How much are 75,000 American Express points worth? At a minimum, 75,000 American Express Membership Rewards points are worth $750 when you use them in the Amex Travel portal. If you're looking for even more value, you'll want to transfer them out to an Amex hotel and airline partner.
What are 150000 Amex points worth? ›| Number of American Express Points | Average Value |
|---|---|
| 150,000 | $1,005 |
| 140,000 | $938 |
| 130,000 | $871 |
| 120,000 | $804 |
Or, just cash out for $488,443
While the points would be worth a lot more when used for flights, when you have over 44 million points at your disposal that you're not using, it could make sense to cash out at least a portion of them.
While 200K Amex points will typically only give you about $2,000 in value when you shop for flights in the Amex travel portal, you can sometimes find Business or First Class flights — that can normally cost over $10,000 — for only 200K points, when transferred to a frequent flyer program.
How much is 2 million Amex points worth? ›
AMEX points can be used for a variety of rewards including travel, merchandise, gift cards, and statement credits. Assuming an average value of 1 cent per point, 2 million AMEX points would be worth $20,000.
Is Amex Platinum worth it with 150k points? ›Amex Platinum Card Welcome Bonus Offer
We generally value Membership Rewards points at about 2.2 cents per point, which means that a 100,000-point bonus offer is worth ~$2,200, a 125,000-point bonus is worth ~$2,750, and a 150,000-point bonus is worth $3,300.
Amex Platinum ultimately offers more value, though. For example, its benefits include airport lounge access, while the Amex Gold Card's perks do not. When it comes to ongoing rewards on purchases, Amex Platinum has a higher maximum earning rate and better travel rewards. But Amex Gold provides more everyday value.
What are the best odds to get the Amex Platinum? ›It's more important to have a good-to-excellent credit score (670+ FICO score) when you apply. An excellent FICO score of 800 to 850 will give you the best approval odds for the Amex Platinum.
How much is 80 000 AMEX points worth? ›80,000 American Express points are worth about $536, depending on which American Express credit card you have and what you spend the points on. You will get the best value for your American Express points when you redeem them for Travel, but there are multiple redemption options.
How much is 90 000 AMEX points worth? ›What are 90,000 Amex Gold card points worth? We value 90,000 Amex Membership Rewards points at 2.2 cents each, which means they're worth $1,980, which is humongous.
Which Amex earns the most points? ›The American Express card that gives the most points is The Platinum Card® from American Express.
How many Amex points is $4000? ›The current welcome offer is: Earn 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
Is 2x points the same as 2% cash back? ›Cash back is not the same as reward points; while the former translates into a corresponding dollar amount, the latter does not. For instance, a 2% cash back card offers $2 cash back for every $100 you spend.
Is it smarter to take the cash back or keep the points on a rewards Card? ›Generally speaking, it's better to redeem your points for travel. You're likely to get more value from a travel redemption than cash back for the same number of points. It's best to aim to get at least 1.5 cents value from each point.
Is AmEx rewards better than Chase? ›
AmEx leads the way with 20 airline and hotel partners versus Chase's 14 transfer partners. That means more access to airline sweet spots for AmEx points collectors. Redemption rate for travel purchases.
How much is 125k Amex points worth? ›Amex Platinum 150,000- or 125,000-point offers
Based on TPG point valuations, the 150,000 Amex Membership Rewards points bonus is worth a staggering $3,000.
Do Membership Rewards® points expire? Membership Rewards® points have no expiration date.
Is Amex gold metal? ›The American Express® Gold Card is our top-rated travel card. The card is made out of stainless steel and weighs 15 grams. Cardholders will have the ability to pay with a tap of their card at select merchants thanks to the card's contactless feature.
How many Amex points do I need for a flight? ›| Distance (miles) | Economy | Business |
|---|---|---|
| 0 - 500 | 6,000 pts | 15,000 pts |
| 501 - 1,500 | 10,000 pts | 20,000 pts |
| 1,501 - 2,750 | 12,500 pts | 25,000 pts |
| 2,751 + | 22,500 pts | 35,000 pts |
Two cards, two bonuses
And it's possible to earn welcome bonuses on all of American Express' cards. There's no rule prohibiting you from earning a bonus on the Gold card because you have the Platinum card — or vice versa — so long as you meet the other application rules.
Yes, you can downgrade your Amex Platinum card to the Amex Gold card. But just like with upgrades, you'll want to make sure that you've had the card open for at least 1 year or more. This is a great way to save yourself some money if you no longer find the benefits of the Amex Platinum card to be worth the fee.
How do I get a black AMEX card? ›- Be an Existing Amex Cardholder in Good Standing.
- Make at Least $250,000 in Purchases on Your Amex Cards.
- Request an Invite.
Redeeming Amex Points for Cash
That's about 1/3 of their actual value when used correctly, so this is a dramatically bad redemption of the points Portnoy worked so hard to achieve. If he were to cash out directly using statement credits, Portnoy would receive about $900,000 on his 44.4 million Amex points.
Redeeming Points for Credit is not available for redemption by Corporate Card accounts and is not redeemable for cash via Credit balance refund. All rewards (other than the redemption of Points for Credit) are provided by the rewards provider and not by us, our affiliates or our subsidiaries.
Is the gold AMEX worth it? ›
The American Express Gold Card is considered one of the best travel rewards cards thanks to the numerous food and travel perks that appeal to big spenders who can afford its $250 annual fee. It offers generous ongoing rewards for airfare purchases and spending at restaurants and U.S. supermarkets.
How many AMEX points is $300? ›If you redeem 30,000 points at 1 cent per point, that's a welcome gift of $300. Category multipliers. Most Cards offer bonus points for purchases made in certain spending categories like travel, dining, groceries, or gas.
How much is 422 million AmEx points worth? ›So what can 421,860,000 AmEx points get? According to the American Express Co.'s website, they can be converted to more than 28 million frequent flyer miles or about $180,000 worth of vouchers at Hong Kongretailer ParknShop.
What is 422 million AmEx points? ›A Chinese collector who bought an ancient Chinese ceramic cup for a record HK$281 million (US$36 million) at an auction in April got an unexpected bonus when he paid for it this week: almost 422 million American Express points.
How many AmEx points is $1? ›You will get one point for each dollar charged for an eligible purchase on your Platinum Card from American Express.
Is Amex Platinum impressive? ›The Amex Platinum is one of the most prestigious travel credit cards you can own. Trying for an American Express credit card lets you establish a relationship with Amex. Plus, it can make it easier to add the Amex Platinum Card to your wallet in the near future.
How much should I make for platinum Amex? ›What does your credit score need to be for the Amex Platinum card? While there is no set score needed, we recommend you have a credit score of at least 670, 2 years of clean credit history, and an income of at least $50,000 per year to apply for the Amex Platinum card.
Does Amex Platinum have a limit? ›If you have a Consumer or Business Green, Gold or Platinum Card, your Card does not have a credit limit. Instead, your Card has no preset spending limit unless you have been previously notified otherwise.
Is Amex Gold better than green? ›Amex Gold vs.
Travel Benefits Winner: The Amex Green card is the winner for travel benefits since it includes credits toward airport lounges and expedited security. The Amex Green Card caters more to travelers and as such includes a few benefits that will improve your travel experience.
You're incurring interest: The only way to avoid getting hit with interest is to pay off your balance in full each month. Most credit cards carry double-digit interest rates, so if you're carrying a balance, these charges are getting tacked onto your minimum every month.
How much income do you need for Amex Gold? ›
American Express does not disclose a specific income requirement, but it must be enough to make payments on the card and to afford the $250 annual fee. Amex doesn't openly state any other Amex Gold card requirements, but there are plenty of other factors that Amex considers during the approval process.
Why is Amex Platinum so hard to get? ›Yes, it is hard to get the American Express Platinum card because applicants need a 700+ credit score and a high income to qualify for approval. But if you have at least good credit and make a lot of money, you have a decent shot at getting approved.
Why is Amex Platinum so popular? ›Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual card credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.
How do I maximize my Amex bonus? ›- Time your spending to earn each welcome offer. ...
- Use the Platinum Card for prepaid hotels and airfare. ...
- Use the Amex Gold Card for dining and groceries. ...
- Use the Blue Business Plus for all non-bonus purchases.
85,000 Membership Rewards points after you spend $15,000 on eligible purchases with your card in the first three months.
How much is 150 000 Amex points worth? ›| Number of American Express Points | Average Value |
|---|---|
| 150,000 | $1,005 |
| 140,000 | $938 |
| 130,000 | $871 |
| 120,000 | $804 |
While 200K Amex points will typically only give you about $2,000 in value when you shop for flights in the Amex travel portal, you can sometimes find Business or First Class flights — that can normally cost over $10,000 — for only 200K points, when transferred to a frequent flyer program.
How many Amex points is $300? ›If you redeem 30,000 points at 1 cent per point, that's a welcome gift of $300. Category multipliers. Most Cards offer bonus points for purchases made in certain spending categories like travel, dining, groceries, or gas.
How much is 44 000 000 Amex points worth? ›44,000 American Express points are worth about $294.8, depending on which American Express credit card you have and what you spend the points on. You will get the best value for your American Express points when you redeem them for Travel, but there are multiple redemption options.
How much is 125000 Amex points worth? ›Amex Platinum Card Welcome Bonus Offer
We generally value Membership Rewards points at about 2.2 cents per point, which means that a 100,000-point bonus offer is worth ~$2,200, a 125,000-point bonus is worth ~$2,750, and a 150,000-point bonus is worth $3,300.
Is the Amex 150k bonus worth it? ›
Based on TPG point valuations, the 150,000 Amex Membership Rewards points bonus is worth a staggering $3,000. While that's certainly the bonus you would hope to see appear in your CardMatch results, you might instead be targeted for a still-great 125,000-point offer with the same minimum spending requirement.
How much is 600000 Amex points worth? ›60,000 American Express points are worth about $402, depending on which American Express credit card you have and what you spend the points on. You will get the best value for your American Express points when you redeem them for Travel, but there are multiple redemption options.
Which AMEX earns the most points? ›The American Express card that gives the most points is The Platinum Card® from American Express.
Does AMEX points expire? ›Do Membership Rewards® points expire? Membership Rewards® points have no expiration date.
How do I get a black Amex Card? ›- Be an Existing Amex Cardholder in Good Standing.
- Make at Least $250,000 in Purchases on Your Amex Cards.
- Request an Invite.