The value of your Membership Rewards points will change depending on how you redeem them.
Understanding the Value of American Express Membership Rewards Points
Key Takeaways: The value of American Express Membership Rewards points fluctuates depending on what card you have and what redemption options you choose. Redemptions like statement credits, gift cards, shop with points, or travel booked through American Express typically give you a flat value — often 1 cent/point or less — for your points. Transferring your points to Amex’s airline and hotel partners will usually give you the best value. Redeeming your points this way can give you up to two cents/point in value on average, according to The Point Guy’s calculations.
How Much Are American Express Membership Rewards Points Worth?
CNET’S PICK: The Platinum Card® from American Express
Rating Breakdown:
- Welcome Bonus: 3.0
- Rewards Program: 3.0
- Value for Money: 5.0
- Benefits: 5.0
- Fees and APR: 3.0
How We Rate Rewards / Travel Cards
We rate credit cards using our Rewards / Travel methodology for cards tailored to earning rewards. We focus on each card’s reward potential, the value you get compared to the card’s cost, the benefits, and the card’s rates and fees. Credit card issuers have no say or influence in our ratings.
Card Details
- Intro Offer: Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in the first 6 months of Card Membership.
- Annual Fee: $695
- Rewards Rate: 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year; Earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
- Recommended Credit: 670 – 850 (Good – Excellent)
- APR: See Pay Over Time APR; See rates & fees; terms apply
CNET’S PICK: American Express® Gold Card
Rating Breakdown:
- Welcome Bonus: 4.0
- Rewards Program: 4.0
- Value for Money: 4.0
- Benefits: 4.25
- Fees and APR: 3.0
Card Details
- Intro Offer: Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in the first 6 months of Card Membership. Plus, receive 20% back in statement credits on eligible purchases made at restaurants worldwide within the first 6 months of Card Membership, up to $100 back. Limited time offer. Offer ends 11/6/24.
- Annual Fee: $325
- Rewards Rate: 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year; 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year; 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com; 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com; 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Recommended Credit: 670 – 850 (Good – Excellent)
- APR: See Pay Over Time APR; See rates & fees; terms apply
CNET’S PICK: American Express® Green Card
Rating Breakdown:
- Welcome Bonus: 2.0
- Rewards Program: 2.0
- Value for Money: 2.0
- Benefits: 3.0
- Fees and APR: 2.5
Card Details
- Intro Offer: Earn 40,000 Membership Rewards® Points after you spend $3,000 in eligible purchases on your American Express® Green Card within the first 6 months of Card Membership.
- Annual Fee: $150
- Rewards Rate: 3X Membership Rewards® points on travel including airfare, hotels, cruises, tours, car rentals, campgrounds, and vacation rentals; 3X Membership Rewards® Points on transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways; 3X Membership Rewards® points on eligible purchases at restaurants worldwide, including takeout and delivery in the US.
- Recommended Credit: 670 – 850 (Good – Excellent)
- APR: See Pay Over Time APR
CNET’S PICK: The Amex EveryDay® Preferred Credit Card
Rating Breakdown:
- Welcome Bonus: 2.8
- Rewards Program: 2.8
- Value for Money: 2.8
- Benefits: 2.8
- Fees and APR: 3.0
Card Details
- Intro Offer: Earn 15,000 Membership Rewards® Points after you spend $2,000 in qualifying purchases on the Card within your first 6 months of Card Membership.
- Annual Fee: $95
- Rewards Rate: 3X points at U.S. supermarkets, on up to $6,000 per year in purchases (then 1X); 2X points at U.S. gas stations; 1X points on other purchases.
- Recommended Credit: 800 – 850 (Excellent)
- APR: 18.24% – 28.24% Variable
CNET’S PICK: Amex EveryDay® Credit Card
Rating Breakdown:
- Welcome Bonus: 2.5
- Rewards Program: 2.5
- Value for Money: 3.0
- Benefits: 2.0
- Fees and APR: 2.5
Card Details
- Intro Offer: Earn 10,000 Membership Rewards® Points after you use your new Card to make $2,000 in purchases within the first 6 months of Card Membership.
- Annual Fee: $0
- Rewards Rate: 2X points at U.S. supermarkets on up to $6,000 per year in purchases (then 1X); 1X points on other purchases.
- Recommended Credit: 670 – 850 (Good – Excellent)
- APR: 18.24% – 28.24% Variable
How to Get the Most Value Out of American Express Membership Rewards Points
The best way to maximize the value of your Membership Rewards points is to transfer them to Amex’s airline and hotel partners. This can yield a value of around 2 cents per point or more, depending on the airline or hotel program and the redemption.
For everyday redemptions such as statement credits, gift cards, or shopping, you typically get a lower value, often around 1 cent per point or less. This is why travel redemptions tend to offer the best value.
Summary
American Express Membership Rewards points can vary in value based on how you redeem them. Transferring points to travel partners generally provides the best value, while other redemption options offer a more fixed value, typically lower.
Consider your spending habits and redemption preferences to determine the best American Express card for your needs.
author Holly Johnson