American Express Membership Rewards points are one of the most flexible and valuable point currencies on the market. The value of your rewards point will depend on the redemption option you choose.
The most popular redemption options are below:
Cash Back Redemption. You can redeem your rewards points for a statement credit at a conversion rate of 0.6 cents per point. This means if you redeem 1,000 points you will get $6 back. This is a low value redemption option so we don’t recommend using it unless you’re in a pinch!
Amazon Redemption. You can redeem your rewards points for Amazon purchases at a conversion rate of 0.7 cents per point. This means if you redeem 1,000 points you will get $7 back. This option requires you to link your Amazon account to your AMEX account. This isn’t a great redemption rate, but it is a useful feature during the holiday season if you’ve got a bunch of points saved up for gifts.
Uber Redemption. You can redeem your rewards points for Uber rides at a conversion rate of 1.0 cents per point. This means if you redeem 1,000 points you will get $10 back. With Uber available in so many cities now this is a solid redemption option for your points. We find ourselves using this option at least once a month.
Transfers to Partner Programs. As previously mentioned, we value an AMEX reward point at 1.5 cents. The best way to get at least that value is to transfer your rewards points to one of American Express’s partner programs. Transferring to partner programs can get you over 2.0 cents back per rewards points depending on what you are booking. The best partner programs are:
- British Airways Avios
- Choice Hotels
- Etihad Guest Partner Award Bookings
- Singapore Airlines
Click here for a full list of partner programs.
AMEX Travel. You can redeem your rewards points for travel booked through American Express Travel. Flight costs can be redeemed at a conversion rate of 1.0 cents per point. Other travel charges (such as cars, hotels, vacation packages etc.) can be redeemed at a conversion rate between 0.7 cents – 0.85 cents per point.
The prices on AMEX travel typically aren’t the lowest around so we would advise staying away from this option unless you can find either a great sale or a good deal with the fixed points flight program.
For a full list of redemption options, check out the American Express website.