What AmEx Points Are Worth in July 2024? - NerdWallet (2024)

Flexible travel rewards like American Express Membership Rewards points are, effectively, a currency. So understanding the relative value of these points is an important consideration when earning or spending them.

So how much are AmEx points worth? Based on NerdWallet's most recent analysis, the current AmEx points value is between 1 cent when used to book travel directly and 1.2 cents when transferred to partners.

This is a big gap, and you might wonder why anyone would use these points to book travel directly if they’re so much more valuable when transferred. The short explanation is based on convenience — booking through the AmEx travel portal is a snap, whereas transferring and redeeming points can be significantly more labor intensive.

This is simple: You earn American Express Membership Points by using certain credit cards. When those points are redeemed for through Amex Travel, they are worth exactly 1 cent apiece when booking flights or 0.7 cent if booking hotels through the issuer's portal. This math is made explicit when booking a flight or hotel while logged in.

For example, a $210 flight will cost 21,000 points. There’s no way to “maximize” AmEx points when used in this way. You’re effectively using the points as pennies, and can book any airline or hotel room available with cash.

The big benefit here is convenience and simplicity. You don’t have to spend hours researching how to use your points or find the right transfer partner, or search for scarce award availability. You just search and book.

The big drawback is cost-effectiveness. You’re accepting a lowball value for your points as a trade-off for this convenience.

Here’s where things get more interesting — and complicated. The AmEx Membership Rewards program has some excellent transfer partners, meaning you can transfer your points to a partner and then book travel there.

With great maximization potential comes great responsibility. Understanding which AmEx transfer partners offer the best value, and which even offer flights or hotels that match your travel plans, is a major undertaking.

Here are some key programs to highlight, along with their estimated NerdWallet value.

Notice that some of the better-known programs, such as Marriott and British Airways, offer some of the lowest-value points and miles, while lesser-known programs, like Air Canada and ANA, offer some of the best.

It definitely pays to do your homework when considering AmEx transfer partnerships.

Remember to factor your travel plans into consideration, and not just transfer your points to the program with the highest-value miles. Some programs offer excellent value but limited routes and award availability.

Always search for availability on your preferred travel dates and destinations before transferring points.

Use our AmEx points calculator below to convert AmEx points to dollars and determine the value of your stash of points, based on both the baseline and NerdWallet estimated values.

More than a dozen American Express cards earn Membership Rewards; here are some of the most popular, including some with a $0 annual fee.

Other AmEx cards that earn Membership Rewards points include:

Terms apply.

For our NerdWallet estimate of 1.2 cents per Membership Rewards point, we factored in several variables:

The overall value is determined as: A weighted average between (1) and (2), with the weight determined by (3). The program with the largest number of high-value partners receives a 100% weight on (2), and a program with zero high-value partners receives a 50% weight on (2).

AmEx had the highest number of top-tier transfer partners, so it received a 100% weight on its most valuable transfer partner (ANA).

The current AmEx points value is between 1 cent when used to book travel directly and 1.2 cents when transferred to partners.

But not all transfer partners are created equal. Popular programs like Marriott Bonvoy will net you less value than lesser-known options, such as ANA.

If maximizing AmEx points' value sounds too complicated, you can always redeem them for a statement credit through the issuer's Cover Your Card Charges benefit. This will get you a paltry rate of just 0.6 cent per point.

All information about the American Express® Green Card, the Business Green Rewards Card from American Express and the Amex EveryDay® Credit Card has been collected independently by NerdWallet. American Express® Green Card, Business Green Rewards Card from American Express and the Amex EveryDay® Credit Card are no longer available through NerdWallet.

To view rates and fees of the American Express® Gold Card, see this page.

To view rates and fees of The Platinum Card® from American Express, see this page.

To view rates and fees of The Business Platinum Card® from American Express, see this page.