How the Amex Membership Rewards program works
Some cardholders are eligible for the Membership Rewards loyalty program. You can earn points through purchases and qualifying Amex Offers. Benefits of Amex Offers include discounts, cash back and additional Membership Rewards points. However, Amex Offers vary by card, cardholders must activate to qualify and limits and expiration dates may apply.
Membership Rewards points can be redeemed for travel, shopping, statement credits, gift cards, charitable donations and more. Cardholders can transfer Membership Rewards rewards points to American Express hotel and airline partners or use points to book through AmexTravel.com (there may be fees associated with transferring points).
Once you’re ready to redeem your Membership Rewards points, you may notice that the value of those points changes depending on how they’re redeemed. If you redeem them for cash, they typically have a 1-cent value. However, you may be able to squeeze more value out of them if you transfer them to a partner loyalty program with Delta or Aeromexico.
According to Bankrate’s latest valuation, American Express Membership Rewards points are worth an average of 2.1 cents per point, making them one of the more high-value rewards points. If you were to amass 50,000 Membership Rewards points, it would be worth about $1,050.
If you were to spend only in the bonus categories to score maximum rewards rates, here’s how much you’d earn in American Express’s rewards program with two of its top rewards-earning consumer cards:
4X points at restaurants, take out and delivery in the U.S.
4X points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
3X points on flights booked directly with airlines or on AmexTravel.com.
5X points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year.
5X points on prepaid hotels booked with American Express Travel.
||$8,000 on groceries and dining** x 4 points x $0.021 = $672
$1,300 on airfare* x 3 points x $0.021 = $82
|$1,300 on airfare* x 5 points x $0.021 = $136
$600 on hotels** x 5 points x $0.021 = $63
|Perks and credits
||+$120 (Uber Cash provided as $10 monthly credits that expire at the end of the month)
+$120 (Dining credits per year on eligible purchases)
+$100 (Experience credits with The Hotel Collection offer when you book two consecutive nights or more through the Amex Travel Portal)
|+$200 (Annual airline fee credits at one select qualifying airline)
+$25 (TSA PreCheck/Global Entry application credit; up to $100 every four years)
+$299 (Priority Pass Select membership)
+$189 (annual CLEAR® membership statement credits)
+$200 (annual credits for prepaid Fine Hotels + Resorts or The Hotel Collection bookings via American Express Travel with a minimum two-night stay)
+up to $100 (credit for eligible The Hotel Collection bookings of two or more consecutive nights through American Express Travel)
+$200 (in annual Uber Cash for rides or Uber Eats orders)
+$240 (in digital entertainment credits annually)
+$300 (in Equinox fitness membership credits per year for eligible membership fees)
+up to $100 (in annual Saks Fifth Avenue credits)
+$155 (annually in Walmart+ monthly membership credits; $12.95, plus applicable taxes, credit each month)
+$300 (in a one-time $300 credit for eligible SoulCycle At-Home bike online purchases through Amex’s provided link)
||60,000 points once you spend $4,000 on eligible purchases within six months of card membership
||80,000 bonus miles when you spend $6,000 in the first six months of card membership
||$2,104 (including the welcome offer, statement credits and annual fee)
||$3,912 (including welcome offer, statement credits and annual fee)
*Based on data from Gallup and Bureau of Transportation Statistics.
**Based on the Bureau of Labor Statistics consumer expenditures.