How Much Are American Express Membership Rewards® Points Worth?

It’s safe to say that one of the best parts about having a Credit Card is earning rewards for purchases you were planning anyway. Many American Express Cards let you earn Membership Rewards^® points and then redeem them in whatever manner best matches your lifestyle. Plus, there’s no limit to how many points you can earn on eligible purchases – and they don’t expire as long as you have one active Credit Card enrolled in the Membership Rewards program and your account is in good standing. Do note, however, that terms apply to all of the benefits listed below.

That’s all great, but many American Express Card Members ask: What are Membership Rewards points worth? There’s a short answer and a long answer, of course, and this article takes you through both, then a bonus section about ways you might maximize your points-earning potential.

The first thing to know is that the value of American Express Membership Rewards points vary, depending on how and where you choose to redeem them. But the range is clear: You’ll typically get anywhere from a half cent to one cent per point. Points-earning bonuses can increase the number of points you get for the dollars you spend, effectively raising point values further because you had to spend less to get them.

From first class travel to gift cards and covering your card charges, the dollar-to-point value for American Express Membership Rewards points varies depending on how you choose to redeem them. To give you an overview of how points value can change, here are some common redemption methods and their approximate points values.

Note that the below examples were calculated using the American Express Platinum Card. Be sure to check the American Express Membership Rewards Points Calculator to see how much points are worth when using different redemption options.

Use Pay with Points at Checkout. Some retailers let you link your American Express Membership Rewards account so you can use Pay with Points at their online checkout, typically redeemed at a value of 0.7 cents to 1 cent per point. For example, 10,000 points can get you $70 towards purchases at select online retailers, food delivery services, and more (about 0.7 cents per point).

Currently, the value of 1,000 Membership Rewards points is equal $7.00 when redeemed through PayPal. Please note that this is subject to change.

Gift cards. When you redeem points through American Express’ Membership Rewards gift cards portal, you can get up to 1 cent per point. This means you could redeem, for example, 5,000 rewards points for up to $50, depending on the brand. Choose from dining and retail gift cards, travel brands, and more.

Cover your charges. Amex lets you use points to cover eligible charges on your statement at a value of 0.6 cents per point that you can then apply to one of your purchase transactions, which could help you to reduce your bill. 

Use Pay with Points through American Express Travel^®. With most American Express Credit Cards, flights booked through American Express Travel can be redeemed at a points value of 1 cent per point. This means that 50,000 points could cover a $500 plane ticket. You can also upgrade your seats to business or first class, typically at the same redemption value, if your flight itinerary is eligible. Other travel purchases, like prepaid hotel bookings and cruises, can typically be redeemed at a value of 0.7 cents per point, meaning 50,000 points could net you $350 toward hotel stays. And because Membership Rewards points don’t expire, they’ll be ready to travel when you are.

Transfer Points. American Express partners with several frequent flyer and hotel loyalty programs, allowing you to transfer Membership Rewards points to whichever participating partners you prefer. In fact, Amex offers you the opportunity to transfer points to the most airline partners of any major U.S. credit card rewards program. Just link your eligible Credit Card account to the loyalty program, select the amount of points to transfer, and redeem through your frequent travel provider. Most partners offer a 1:1 point transfer ratio, with some exceptions: You’ll get two Hilton Honors points for every Membership Rewards point, for instance. Don’t forget to double check your itinerary first, because all transfers are final.

A great way to get a feel for how much points are worth, and figure out how to best redeem points for your needs, is to use the American Express Membership Rewards Points Calculator. But no matter how you choose to redeem, it’s a good idea to carefully review your redemption options since certain transactions may be final. It’s also important to note that redemption values are subject to change, though they don’t change often.

As a guide, when using the American Express Platinum Card, redemption of Membership Rewards points may be worth the following:

Note that all offers and redemption values are subject to change. Terms and conditions apply.

Perhaps the most obvious way to earn Membership Rewards points is by using your Credit Card for purchases. But you can supercharge points values if you pay close attention to bonuses, promotions, and the spending categories in which your Card offers points multipliers. Here are some of the ways you can earn points: 

Welcome offers. Some American Express Cards have welcome offers. They tend to change over time, and usually require you to spend a certain amount in the first few months of Card Membership. For example, you might see bonuses like 30,000 Membership Rewards points after you make $2,000 in purchases on your new credit card in the first three months as a Card Member. If you redeem 30,000 points at 1 cent per point, that’s the equivalent of $300.

Category multipliers. Some cards offer bonus points for purchases made in certain spending categories like travel, dining, groceries, or gas. Depending on the credit card, you can typically earn anywhere from 1 point to 5 points per dollar spent on eligible purchases. For example, consider the American Express^® Gold Card,¹ which offers:

• 4X points at restaurants worldwide.
• 4X points at U.S. supermarkets (up to $25,000 in purchases a year).
• 3X points when you book flights directly with an airline.
• 1X points on all other eligible purchases. 

Booking through Amex Travel. Most American Express cards offer bonus points for booking travel directly through American Express’ dedicated travel portal. 

Amex Offers. Available to all consumer and business² American Express Card Members, Amex Offers is a program that lets you earn extra points – or save money by earning statement credits – when making select purchases through eligible retailers, restaurants, and services. All you have to do is check your account info for available offers, opt in as desired, shop, and reap the benefits. 

Additional ways to earn points. Some Credit Cards may offer additional ways to earn extra points if you meet certain eligibility requirements. This may include making a certain number of purchases within a billing cycle. For example, consider the Amex EveryDay^® Credit Card.³ With Amex EveryDay, if you make at least 20 purchases on the card in one billing period, you’ll earn 20% extra points on those purchases.   

E-commerce portal. Rakuten is an e-commerce portal that lets you earn bonus points for qualifying purchases at supported retailers. You can link your American Express account to your Rakuten account, and Rakuten will transfer accrued points to your Membership Rewards account.

Refer a friend. If you refer a friend (or a business) to American Express and they’re approved after applying through the referral link, you’ll earn bonus points for your efforts.