The Ultimate American Express Membership Rewards Guide

Alina Rudya/Bell Collective/GettyImages; Illustration by Hunter Newton/Bankrate

American Express Membership Rewards are some of the most flexible points currently on the market. Some rewards credit cards only let you earn points or miles that work within a specific airline or hotel loyalty program, but cards in the American Express Membership Rewards program let you redeem your points in multiple ways, including:

• Travel
• Gift cards
• Merchandise
• Statement credits
• Or, transfer points to Amex airline and hotel partners

Here’s our complete guide to the American Express Membership Rewards program, including how to earn points, how much Amex points are worth and the best ways to redeem them.

What are Amex Membership Rewards points?

American Express Membership Rewards points are the rewards 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.

Because this program is so flexible with its redemption options, it has several benefits and drawbacks to be mindful of:

Pros

• The program currently has 17 airline partners and three hotel partners.
• Amex Membership Rewards points have some of the highest redemption values on average, thanks to their transfer partners.
• You can redeem points for everything from gift cards and statement credits to travel and shopping purchases.

Cons

• Amex’s most popular travel credit cards tend to have high annual fees.
• Unlike some competing card reward programs, Amex doesn’t let you transfer or combine points with other members of your household.
• While Amex Membership Rewards points offer excellent value on travel, rewards value dips considerably when you redeem for non-travel options.

How much are Amex points worth?

The value of Amex Membership Rewards points varies depending on how you redeem them. For example, Amex points can be worth an average of 2.0 cents each when transferred to a high-value airline or hotel partner, according to the latest Bankrate valuations.

If you’re not transferring your points, you can find out the value of your redemption using the American Express rewards points calculator. The chart below shows the current values of different redemption options depending on the card you have:

Gift cards vary in redemption value. For example, cards from certain partners like Adidas, Banana Republic and Saks Fifth Avenue may 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). Check out the current Amex rewards points calculator to find the best current offer.

Amex Membership Rewards vs. other rewards 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, according to Bankrate’s latest valuations:

How to earn Amex points

You can earn Membership Rewards points in a variety of ways, all of which require you to have an eligible Amex credit card:

• Charge eligible purchases to your credit card

  The easiest way to earn rewards in this program is by making purchases with an eligible credit card that earns Membership Rewards points. You can maximize rewards by utilizing your card’s bonus categories while also using the card for everyday spending and bills.

• Earn a generous welcome bonus

  Many Amex credit cards offer welcome bonuses for new cardholders. If you sign up for the American Express® Gold Card, for example, you could earn as high as 100,000 Membership Rewards points by spending $6,000 on eligible purchases within the first six months of opening the account.

• Add Amex Offers to your cards

  Another way to earn more Amex Membership Rewards points is through Amex Offers. You can select merchant offers you’re interested in and add them to your card for additional opportunities for points or cash back.

• Refer friends

  You can also earn points by referring a friend or family member to American Express through the issuer’s referral program. If they’re approved for a consumer or business card, you’ll get a referral bonus.

How to redeem Amex points

You can use these valuable points in a variety of ways:

• Book travel through American Express Travel

  One of the best ways to use your points is on travel through the American Express Travel portal. The American Express Travel portal allows you to search for travel and choose from different flights, hotels, cruises and more. You can pay for travel with points, cash or a combination of the two.

• Transfer points to Amex travel partners

  The most lucrative use of Amex points is when they are transferred to a high-value Amex Membership Rewards travel partner. A range of options, including those to Hawaiian Airlines, Emirates, Virgin Atlantic, Aeroplan and others, can help you get top value for your points.

• Use Pay with Points

  Many retailers participate in the American Express Pay with Points program, including Amazon, Dell, Best Buy, Rite Aid and Staples. This option lets you use your rewards for merchandise at any of these stores.

• Get a statement credit

  You can also redeem points for statement credits to cover charges posted to your account, although you’ll get a low rewards value if you do.

• Redeem for gift cards

  You can redeem Amex points for gift cards, inclduing brands like Airbnb, Apple, Best Buy, Sephora and Walmart, to name a few.

• Buy merchandise on the Membership Rewards site

  You can also opt to shop with points directly on the Membership Rewards website instead of shopping on a retailer’s website.

Amex Membership Rewards transfer partners

To get the highest value out of your Membership Rewards points, consider transferring your points to a reward program of one of American Express’s many transfer partners. Current transfer partners include:

• Airline partner programs

• Hotel partner programs

Which Amex credit cards earn Amex points?

It’s important to note that some Amex credit cards earn cash back instead of Membership Rewards points. For example, the popular Blue Cash Preferred® Card from American Express earns cash back that can be redeemed for statement credits only.

This means you’ll want to make sure you sign up for an eligible card if you hope to earn those flexible points.

Popular credit cards that earn Membership Rewards points include:

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, but also provide plenty of additional redemption options if travel isn’t your thing.

However, we encourage you to compare American Express Membership Rewards cards against other top travel cards in other flexible rewards programs, like Chase Ultimate Rewards, to ensure you have the ideal card for your spending style.

Frequently asked questions about Amex Membership Rewards

• Do Amex Membership Rewards points expire?

  No, Amex Membership Rewards points never expire. The value of those points, however, can change often, depending on how you wish to redeem them.

• Can you share Amex Membership Rewards points with friends and family?

  You cannot transfer American Express Membership Rewards points to friends and family members, but you can allow them to take advantage of some of the perks you get if they are authorized users on your account.

• Can you buy Amex Membership Rewards points?

  According to American Express, you may be able to buy points when you’re in the process of using points and you don’t have enough points for redemption. In this case, points must be purchased in increments of 100 points for $3 plus applicable taxes with a minimum purchase of 1,000 points. You have to charge the purchase to your American Express card.

• What happens to the points if I cancel my Amex card?

  If you cancel your Amex card while you still have unused points on your account, you will lose those points entirely. If you’re considering canceling your card, make sure you use up all your points first, even if you just have a small amount. You can always donate those points to charity if you don’t plan on redeeming them another way.

*The information about the American Express® Green Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.