Key takeaways
- The best value for American Express Membership Rewards points is often achieved when redeeming them for travel or transferring them to high-value transfer partners.
- American Express credit cards offer multiple ways to earn Membership Rewards points, including everyday purchases, bonus category purchases, welcome bonuses and referral bonuses.
- Redeeming points for statement credits or depositing them into an Amex checking account often yields less value compared to travel redemptions or transfers to travel partners.
Many American Express rewards cards allow you to earn points within the flexible American Express Membership Rewards program. You can redeem these points for gift cards, merchandise, statement credits and Amex experiences. In most cases, you’ll get the best value for your Amex points if you use them for travel redemptions.
We’ve put together a list of the best ways to spend your American Express Membership Rewards points, whether you book flights and hotels through Amex Travel, put your points toward a vacation package or transfer your points to qualifying airline and hotel partners. And if you’re happy with statement credits or discounts at popular retailers like Amazon and Grubhub, we can help you understand those options as well.
What is the best way to spend Amex points?
1. Transfer points to travel partners
Among top credit cards that allow you to transfer points to travel partners, American Express may be one of your best options. Amex allows you to transfer points to 18 airlines and three hotels — which gives you plenty of opportunity to reach your destination and get a good night’s sleep!
Amex rewards points are worth about 2.0 cents per point when transferred to high-value partners, according to Bankrate valuations, but some transfer partners allow you to get higher value for your rewards.
When transferring points, you’ll want to pay attention to the transfer ratio, which can differ depending on the travel partner you choose. For example, you can transfer 1,000 Membership Rewards points for 1,000 Marriott Bonvoy points, but those same 1,000 Membership Rewards points might get you double the points by transferring to Hilton Honors during a promo period.
Study your options to get the most value out of your points, and take a look at our current points and miles valuations to ensure you’re picking a transfer partner that helps you maximize your rewards.
2. Book your next trip through Amex
Want to use your Membership Rewards points for travel but don’t want to transfer them to another loyalty program? You can always book flights, prepaid hotels and more directly through the American Express Travel Portal.
Booking travel with Amex is one of the best ways to spend your American Express points, especially if you plan your trip using the issuer’s rewards points calculator. If you have the The Platinum Card® from American Express, for example, 10,000 Membership Rewards points are worth $100 toward flights, but only $70 towards prepaid hotels and prepaid car rentals. Use the calculator to get the most out of your points, so you can focus on getting the most out of your vacation.
3. Pay With Points when you shop online
Pay With Points makes it easy to use your points at checkout with participating brands that include Amazon, Best Buy, Grubhub and RiteAid. Just link your Membership Rewards account or — depending on the retailer — check out with an eligible American Express credit card. From there, you select Pay With Points, review your Amex points balance and use some or all of them to cover your transaction total.
If you aren’t planning any upcoming trips, using Pay With Points at checkout may be one of your better options. Though, here too, you can use Amex’s online calculator to confirm you’re getting the best value for your Amex points. If you have the American Express® Gold Card, for example, you’d see that 10,000 points are worth $70 at Amazon, Best Buy and other popular retailers — less than the $100 value you’d get if you booked a flight with AmexTravel.com.
4. Turn points into statement credits
Like many issuers, American Express allows you to turn your Membership Rewards points into statement credits. Use your points to chip away at your credit card balance and avoid interest on your outstanding debt.
Keep in mind:
No matter which Amex card you use, redeeming your Amex points for statement credits offers less value than if you’d redeemed your points for travel through Amex.
5. Deposit your points into an Amex checking account
If you bank with American Express, you have the option of depositing your Amex points directly into a Membership Rewards Checking or Amex Business Checking account. While Amex doesn’t share how much value you’ll get per point, it’s worth assuming that you might not get as much from making checking account deposits as you would if you transferred your points to travel partners or used them to book travel through Amex.
6. Shop popular brands through Rakuten
Many issuers offer a card shopping portal that helps you to maximize your points with popular brands and score deals, but Amex isn’t one of them. Rather, you can earn boosted points through Amex Offers or through Rakuten.
Rakuten is among the top cash back shopping portals offering deals at more than 3,000 retailers selling clothing, electronics, home goods, food, travel and more. Sign up with Rakuten, link an eligible Membership Rewards account and earn points for every dollar spent through the platform. Earn a minimum of 500 points to cash out what you’ve earned as Membership Rewards.
Rakuten deals can be lucrative, depending on your spending, with past offers including 30 percent cash back at food delivery service Green Chef and 6 percent cash back at Target Optical.
7. Redeem points for gift cards
Believe it or not, redemption toward gift cards may be one of the better ways to use your Membership Rewards points. Your points are typically worth about 1 cent each, which means 10,000 Membership Rewards points could be worth as much as $100 — on par with travel redemption.
The issuer offers gift cards that cover travel, dining, experiences and more. You can also use them to purchase American Express gift cards, sometimes at a discount, which act as a credit card you can gift to others or save for a rainy day. Get the best value from your Amex points by exploring your options on Amex’s gift card site.
How to earn American Express Membership Rewards points
There are many different ways to earn American Express Membership Rewards points, whether you’re earning rewards on everyday spending, taking advantage of a valuable welcome offer or referring your favorite Amex credit card to a friend.
Here are some of the best ways to earn American Express Membership Rewards points:
What American Express cards earn Membership Rewards?
If you want one of the best American Express credit cards that earns Membership Rewards, you’re in luck. Amex has three personal credit cards and four business credit cards open to new applicants that earn Membership Rewards points:
The bottom line
The American Express Membership Rewards program can be extremely valuable — if you know how to use it. Whether you’re redeeming your Membership Rewards points for travel or maximizing your rewards at retailers, you’ll be better prepared to take advantage of every point you earn. If you don’t already have a rewards-earning credit card in your wallet, check out our list of the best rewards cards to discover their high-value rewards programs and more.
Frequently asked questions about the best way to spend Amex points
*Information about the American Express® Green Card has been collected independently by Bankrate. Card details have not been reviewed or approved by the card issuer.
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