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Value
American Express Membership Rewards (MR) points can be redeemed in a few ways, but only a few offer good value.
When redeeming MR points for cash back, they are worth 0.6 cents per point.
When redeeming MR points for gift cards, typically they are worth 1 cent per point.
When redeeming MR points for hotels, they are worth 0.7 cents per point.
When redeeming MR points on the American Express Travel Portal, you get 1 cent per point.
When transferred to a transfer partner, the value can vary. The most value is obtained when redeeming for first/business class flights or luxury hotels.
I don’t suggest using MR points for anything other than transferring to partners. I have been able to consistently get >2 cents per point for MR points, but I value them at a lower cents per point ratio because for those who don’t want to transfer, the floor should still be at least 1 cent per point.
I value MR points at 1.5 cents per point. However, keep in mind it is not impossible to get more value.
Do MR Points expire?
MR points do not expire as long as you maintain a MR earning credit card in good standing.
American Express Travel Portal
The American Express Travel Portal allows for searches of flights, hotels, cars, and cruises.
Transfer Partners
If you hold an American Express Platinum, Gold, Green, Everyday, Everyday Preferred, Business Gold, Business Platinum, or Blue Business Plus, you can transfer to the following airline or hotel Partners at a ratio of 1:1 (a few are a bit higher due to lower point value).
Often times there are bonus offers for transfers; You can see an example with Hilton and Marriott below.
High Value Use Case
Emirates Flight to from New York to Dubai in First Class
Cash price on the dates is $13,365
Cost in miles is 217,500
$13,365 / 217,500 miles = 6.15 cents per point
If you were to transfer your MR points to Emirates, you could then redeem them for this flight, giving you a point value of 6.15 cents per point, which is substantially higher than our average value of a MR point!
Emirates Flight to Maldives from Dubai
Cash price on the dates is $1,326
Cost in miles is 37,500
$1,326 / 37,500 miles = 3.5 cents per point
If you were to transfer your MR points to Emirates, you could then redeem them for this flight, giving you a point value of 3.5 cents per point, which is a bit higher than our average value of a MR point! I transferred my MR points to Emirates for my Maldives trip back in May 2021.