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How Much Are American Express Membership Rewards Points Worth in October 2023?

The value of your Membership Rewards points will change depending on how you redeem them.

How much your American Express Membership points are worth will ultimately depend on how you use them. You can get anywhere from 0.5 cent per point to -- according to The Points Guy calculations -- 2 cents per point in rewards value, and potentially more. The most lucrative ways to redeem your points are for airfare and point transfers.

Whether you have one Amex credit card or several, you’ll need to know how redemptions work and how much value you’ll get in return for spending.

Read more: Best Credit Cards for TSA PreCheck and Global Entry

CNET’S PICK
The Platinum Card® from American Express
Apply Now

The Platinum Card® from American Express

8/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
See Rates & Fees Terms apply
Apply Now
On American Express’s secure website
Intro Offer
Earn 80,000 points Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.
Annual fee
$695
APR
See Pay Over Time APR
Rewards rate
5x – 5x Earn 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.
Rewards Rate
5x
Earn 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.
5x
Earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more

The Platinum Card from American Express point values

Redemption MethodValue
Statement credit1 point = 0.6 cent
Amazon (pay with points at checkout)1 point = 0.7 cent
Flights (booked through American Express Travel)1 point = 1 cent
Prepaid rental cars (booked through American Express Travel)1 point = 0.7 cent
Prepaid hotels (booked through American Express Travel)1 point = 0.7 cent
Gift cards1 point = up to 1 cent

For more information, check out our full review of The Platinum Card® from American Express.

CNET’S PICK
American Express® Gold Card
Apply Now

American Express® Gold Card

7.5/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
See Rates & Fees Terms apply
Apply Now
On American Express’s secure website
Intro Offer
60,000 Membership Rewards® Points Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
Annual fee
$250
APR
See Pay Over Time APR
Rewards rate
3x – 4x Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S.; Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).; Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
Rewards Rate
4x
Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S.
4x
Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
3x
Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more

American Express Gold Card points value

Redemption MethodValue
Statement credit1 point = 0.6 cent
Amazon (pay with points at checkout)1 point = 0.7 cent
Flights (booked through American Express Travel)1 point = 1 cent
Prepaid rental cars (booked through American Express Travel)1 point = 0.7 cent
Prepaid hotels (booked through American Express Travel)1 point = 0.7 cent
Gift cards1 point = up to 1 cent

See our full review of the American Express Gold Card for more details.

CNET’S PICK
American Express® Green Card
Learn More

American Express® Green Card

5.75/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
Earn 40,000 points 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
APR
See Pay Over Time APR
Rewards rate
3x – 3x Earn 3X Membership Rewards® points on travel including airfare, hotels, cruises, tours, car rentals, campgrounds, and vacation rentals.; Earn 3X Membership Rewards® Points on transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways.; Earn 3X Membership Rewards® points on eligible purchases at restaurants worldwide, including takeout and delivery in the US.
Rewards Rate
3x
Earn 3X Membership Rewards® points on travel including airfare, hotels, cruises, tours, car rentals, campgrounds, and vacation rentals.
3x
Earn 3X Membership Rewards® Points on transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways.
3x
Earn 3X Membership Rewards® points on eligible purchases at restaurants worldwide, including takeout and delivery in the US.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more

All information about the American Express Green Card has been collected independently by CNET and has not been reviewed by the issuer.

American Express® Green Card point values

Redemption methodValue
Statement credit1 point = 0.6 cent
Amazon (pay with points at checkout)1 point = 0.7 cent
Flights (booked through American Express Travel)1 point = 1 cent
Prepaid rental cars (booked through American Express Travel)1 point = 0.7 cent
Prepaid hotels (booked through American Express Travel)1 point = 0.7 cent
Gift cards1 point = up to 1 cent
CNET’S PICK
The Amex EveryDay® Preferred Credit Card
Learn More

The Amex EveryDay® Preferred Credit Card

5.5/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
15,000 Points 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
APR
18.24% – 28.24% Variable
Rewards rate
1x – 3x 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
Rewards Rate
3x
3x points at U.S. supermarkets, on up to $6,000 per year in purchases (then 1x)
2x
2x points at U.S. gas stations
1x
1x points on other purchases
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more

Amex Everyday® Preferred Credit Card* point values

Redemption methodValue
Statement credit1 point = 0.6 cent
Amazon (pay with points at checkout)1 point = 0.7 cent
Prepaid flights (booked through American Express Travel)1 point = 1 cent
Prepaid rental cars (booked through American Express Travel)1 point = 0.7 cent
Prepaid hotels (booked through American Express Travel)1 point = 0.7 cent
Gift cards1 point = up to 1 cent
CNET’S PICK
Amex EveryDay® Credit Card
Learn More

Amex EveryDay® Credit Card

4.5/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards
Intro Offer
10,000 Points 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
APR
18.24% – 28.24% Variable
Rewards rate
1x – 2x 2x points at U.S. supermarkets, on up to $6,000 per year in purchases (then 1x); 1x points on other purchases
Rewards Rate
2x
2x points at U.S. supermarkets, on up to $6,000 per year in purchases (then 1x)
1x
1x points on other purchases
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more

Amex Everyday® Credit Card* point values

Redemption methodValue
Statement credit1 point = 0.6 cent
Amazon (pay with points at checkout)1 point = 0.7 cent
Flights (booked through American Express Travel)1 point = 1 cent
Prepaid rental cars (booked through American Express Travel)1 point = 0.7 cent
Prepaid hotels (booked through American Express Travel)1 point = 0.7 cent
Gift cards1 point = up to 1 cent

How to get more from your Membership Rewards Points

Redeeming Amex Membership Rewards points for airfare through Amex’s travel portal will net you a per-point value of 1 cent. However, using points to book prepaid hotels, cruises and prepaid car rentals through American Express will only net you 0.7 cent per point. 

Other nontravel options offer even lower point values, so your best bet is redeeming Amex points for airfare through Amex Travel or transferring points to partners for potentially even greater value.

Point transfers allow you to transfer your Membership Rewards Points to one of American Express’s 21 airline and hotel partners, typically at a 1:1 ratio. Then, you can use your transferred points to book flights or hotel stays directly through the airline or hotel’s own loyalty program. 

By transferring your points to a partner, with the right deal you could increase how much they’re worth. In some instances, you may even get a per-point value of 2 cents or more. To figure out how much your points are worth in a given redemption, divide the dollar cost of the booking by the point cost. To maximize your value when booking award travel, try booking well in advance to access the best availability. It also helps being flexible about your desired dates and itinerary to take advantage of deals.

Amex airline transfer partners

While you can transfer Amex Membership Rewards points to three hotel loyalty programs -- Choice Privileges, Hilton Honors and Marriott Bonvoy -- Amex airline transfer partners offer the most potential value when it comes to maximizing rewards. 

In fact, you can frequently get 2 cents per point or better when you transfer points to airlines and redeem miles for a premium flight redemption like an international business class fare.

Amex lists the following airline partners and transfer ratios, but keep in mind that airline transfer bonuses are offered from time to time. Also, the ratios below represent the base transfer rate, but you’ll often get an even better per-point value depending on the transfer deal.

Amex airline partnersTransfer ratio (Amex points to transfer partner points/miles)
Aer Lingus AerClub1,000 : 1,000
Aeromexico Rewards1,000 : 1,600
Air Canada Aeroplan1,000 : 1,000
Air France (Flying Blue)1,000 : 1,000
ANA Mileage Club1,000 : 1,000
Avianca LifeMiles1,000 : 1,000
British Airways1,000 : 1,000
Cathay Pacific1,000 : 1,000
Delta SkyMiles1,000 : 1,000
Emirates1,000 : 1,000
Etihad Airways1,000 : 1,000
Hawaiian Airlines1,000 : 1,000
Iberia Plus1,000 : 1,000
JetBlue TrueBlue 250 : 200
Qantas Frequent Flyer500 : 500
Qatar Airways Privilege Club1,000 : 1,000
Singapore Airlines1,000 : 1,000
Virgin Atlantic1,000 : 1,000

The bottom line

How you choose to redeem your Membership Rewards points will impact the overall value you get in return. For travel cards, the most lucrative way to use your points is by transferring your points to one of Amex’s travel partners. Otherwise, redeeming for travel through Amex’s own travel portal for airfare will let you secure a rewards value of 1 cent per point.

 

Unfortunately, you’ll only get 0.7 cent per point in value for prepaid hotels, prepaid car rentals and cruises booked directly through Amex. Redeeming for statement credits or using your points with select merchants won’t provide a good value in comparison, either.

 

If you’re not interested in redeeming your credit card rewards for travel, consider getting a cash-back card that offers better value when redeeming for direct cash back or a statement credit.

*All information about the Amex Everyday Preferred Credit Card and Amex Everyday Credit Card has been collected independently by CNET and has not been reviewed by the issuer.

For rates and fees of the American Express Green Card, click here.

For rates and fees of The Platinum Card from American Express, click here.

For rates and fees of the American Express Gold Card, click here.

The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

Evan Zimmer has been writing about finance for years. After graduating with a journalism degree from SUNY Oswego, he wrote credit card content for Credit Card Insider (now Money Tips) before moving to ZDNET Finance to cover credit card, banking and blockchain news. He currently works with CNET Money to bring readers the most accurate and up-to-date financial information. Otherwise, you can find him reading, rock climbing, snowboarding and enjoying the outdoors.
Holly Johnson is a credit card expert and writer who covers rewards and loyalty programs, budgeting, and all things personal finance. In addition to writing for publications like Bankrate, CreditCards.com, Forbes Advisor and Investopedia, Johnson owns Club Thrifty and is the co-author of "Zero Down Your Debt: Reclaim Your Income and Build a Life You'll Love."