How Much Are American Express Membership Rewards® Points Worth?
7 Min Read | Last updated: March 20, 2025
American Express Membership Rewards® points values differ depending on how and where you redeem them. Find out what points are worth and redeem them wisely.
At-A-Glance
- Many American Express Cards offer you various ways to earn Membership Rewards points.
- You can redeem those points in many ways, including gift cards, booking travel, covering eligible charges, and more.
- The value of points can change depending on how and where you redeem them.
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 Card enrolled in the Membership Rewards program and your account is in good standing.
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. Terms apply to all benefits listed below.
American Express Membership Rewards Points Value: The Short Answer
The value of American Express Membership Rewards points vary, depending on how and where you choose to redeem them. Points-earning bonuses can increase the number of points you get for the dollars you spend, raising point values further.
Breaking Down Membership Rewards Points Value Variations
From booking travel to redeeming gift cards and covering your eligible Card charges, the dollar-to-point value for Membership Rewards points varies depending on how you choose to redeem them. Here are some examples of redemption methods and their approximate points values.
The below examples were calculated using the 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. Redemption options and point values can change at any time.
- Pay with Points at Checkout. Use Pay with Points when shopping with participating brands and redeem points directly at checkout, currently 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).
- Redeem for Gift Cards. When you redeem points for a gift card, you can get up to 1 cent per point. This means you could redeem, for example, 5,000 points for up to $50, depending on the brand. You can explore gift cards for retail, restaurant, entertainment, and more.
- Cover Your Charges. You can also cover eligible charges on your statement at a value of 0.6 cents per point by logging into your online account, viewing your account statement, and selecting the eligible charge you'd like to cover with points.
- Book Travel with Amex. 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. Other travel purchases made through the travel portal, like prepaid hotel bookings, can be redeemed at a value of 0.7 cents per point, meaning 50,000 points could net you $350 toward a hotel stay. 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 participating partners. Most partners offer a 1:1 point transfer ratio, with some exceptions. Don’t forget to double check your itinerary first, because all transfers are final.
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.
As a guide, when using the Platinum Card, redemption of Membership Rewards points may be worth the following:
| Redemption | Point Value |
|---|---|
| Pay with Points at Checkout | 0.7 - 1 cent per point |
| Redeem for Gift Cards | Up to 1 cent per point |
| Cover Your Charges | 0.6 cents per point |
| Book Travel with Amex | Up to 1 cent per point |
| Transfer Points | 1:1 point-to-point ratio (varies) |
Note that all offers and redemption values are subject to change. Terms and conditions apply.
Membership Rewards Points Earning Strategies
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 Cards have welcome offers for new Card Members and 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 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 Card, you can earn anywhere from 1 point to 5 points per dollar spent on eligible purchases. For example, consider the American Express® Gold Card, which offers:
- 4X points at restaurants worldwide, on up to $50,000 in purchases per year.
- 4X points at U.S. supermarkets, on up to $25,000 in purchases per year.
- 3X points on flights booked directly with airlines or on AmexTravel.com.
- 2X points on prepaid hotels and other eligible travel purchases, booked through AmexTravel.com.
- 1X points on all other eligible purchases.1
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 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.
Refer a friend. If you refer a friend to American Express and they’re approved after applying through the referral link, you can earn bonus points for your efforts.
Frequently Asked Questions
To stay informed about new redemption options or promotions for American Express Membership Rewards points, you can regularly visit the American Express website or log in to your online account. American Express often updates its rewards page with the latest redemption offers, exclusive promotions, and limited-time deals. Additionally, you may receive email communications or notifications through the American Express mobile app, including updates on new redemption opportunities for Membership Rewards points.
When deciding between redeeming Membership Rewards points to cover eligible charges or using them for travel redemptions, consider the value you can obtain from each redemption option. Travel redemptions, such as booking flights or prepaid hotel stays through the American Express Travel portal, may offer higher value per point compared with covering charges. If you frequently travel or have specific travel plans, using points for travel can provide the most value. On the other hand, using points to cover your charges may offer you more flexibility depending on your specific circumstances. How you use points will depend on your personal preferences, travel needs, and financial goals.
No, points collected in your account are not transferable to any other person or account.
The Takeaway
There are many ways you can earn and redeem Membership Rewards points. American Express points values differ depending on different factors including how you redeem them and where you redeem them, so it pays to understand all your redemption options before completing a transaction. Card Members can max out their points values by choosing redemption options with high point-to-dollar ratios.
Terms and conditions for the Membership Rewards program apply. Not all redemption options are available to all members. Visit membershiprewards.com/terms for more information. Participating partners and available rewards are subject to change without notice.
1 For more on Offer & Benefit Terms for the American Express® Gold Card, click here.
2 Prepaid cards and products, American Express Corporate Cards, and American Express-branded cards or account numbers issued by other financial institutions are not eligible.
Megan Doyle is a business technology writer and researcher whose work focuses on financial services and cross-cultural diversity and inclusion.
All Credit Intel content is written by freelance authors and commissioned and paid for by American Express.
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