#2 Among Transferable Points
Point Value
1.55 ¢
Program Score
8.6
Amex points are great in theory. We just find them harder to collect and more expensive to hold than Chase points.
The primary ways to earn American Express Membership Rewards are through credit card welcome offers and spending on cards that earn Membership Rewards. Not every Amex card earns these points, though. Some earn cash back instead, and unlike Chase Ultimate Rewards or Capital One Miles, cash back rewards cannot be converted into Membership Rewards. If you're building a transferable points strategy, make sure you choose a card that earns Membership Rewards, so you can then transfer those to airline and hotel partners.
Beyond choosing the right cards, it's also important to understand Amex's application rules, which can significantly impact the welcome bonuses you're eligible to earn.
Combine rewards from multiple Amex cards
Membership Rewards points earned across your eligible personal and business Amex cards are automatically combined into a single balance. You do not need to transfer points between cards before redeeming them.
Share points with others
You cannot transfer Membership Rewards points directly to another person's Membership Rewards account. However, you can transfer points to the airline or hotel loyalty account of an authorized user or employee cardholder who has been on your account for at least 90 days.
Special Offers Related to Amex Membership Rewards. Click the arrow to see more.
September 15, 2026 update: New Turo card-linked offers are available from Amex, Chase, and Citi. Amex and Chase are offering $30 back after spending $150 or more, while Citi is offering $25 back after $150. The Amex offer expires December 31, Chase expires October 31, and Citi expires September 30, 2026. Keep in mind that Turo operates more like a peer-to-peer car-sharing service than a traditional rental car company, so standard credit card rental car insurance usually will not apply.
August 4, 2026: Amex, Citi, and Chase are all targeting some cardholders with offers for $30 back after spending $150 or more with Turo. Turo operates more like a peer-to-peer car-sharing service than a traditional rental car company, so standard credit card rental car insurance usually will not apply. The Chase offer expires August 31, 2026, Citi’s expires September 30, and Amex’s expires December 31. If you have an eligible American Airlines card with a separate Turo credit, the Citi offer should stack with that benefit.
We have seen multiple reports of Amex Membership Rewards transfers to ANA not arriving at all, even well beyond the normal 2-4 day processing time. Amex and ANA representatives have not always been able to resolve the issue, and there is conflicting information about when the problem began, with some reports pointing to early September while Amex has reportedly said issues were occurring throughout August. Some transfers are still posting normally, so this does not appear to be a systemwide failure, but there is enough evidence that we would be cautious about transferring points to ANA right now for a time-sensitive award. If you do transfer, take screenshots throughout the process and keep records of the transaction in case you need to escalate with Amex or ANA. We'll update this story as more information becomes available.
Targeted Marriott Amex Offers are appearing for certain cardholders, so be sure to check the Amex Offers section of your cards to see if you've received any interesting offers. The best offer we've seen is $150 back after spending $300 at participating Marriott properties, while some cardholders are seeing $200 back after spending $450. Both represent substantial discounts of roughly 50% and 44%, respectively. Offers are valid at participating Marriott properties in the U.S., U.S. territories, Canada, Mexico, and the Caribbean through November 30, 2026. These appear to be heavily targeted, with early reports suggesting they're showing primarily on Marriott Bonvoy Amex cards, although availability can vary by cardholder.
Amex is targeting certain cardholders with at least two different Airbnb offers. One gives $30 back after spending $250 or more, while another offers 15% back as a statement credit, up to $30 total. You must activate the offer first and make your purchase directly through Airbnb by October 20, 2026, but the actual stay can take place later. Gift card purchases are excluded. This is a solid offer if you're already planning an Airbnb stay, especially the 15% version, since meaningful Airbnb discounts can be hard to find.
The best way to get more than 1¢ per point from Membership Rewards is to transfer points to airline and hotel partners. One major advantage Amex has over competitors is its complimentary partner search tool, point.me, which helps you find and book award flights with Amex partners. It also walks you through the transfer and booking process, making it especially helpful for beginners.
You can book travel through the American Express Travel Portal at a flat rate of 1¢ per point. However, Business Platinum cardholders receive a 35% points rebate when booking flights with points through Amex Travel.
These options offer poor value compared with transferring to partners or using the Portal.
Discover your points' highest-value redemption options. Use the filters to find the optimal sweet spot for your next trip.
You can’t share Membership Rewards with another Amex user, but you can transfer points to an authorized user’s loyalty account after they’ve been on your account for at least 90 days.
Membership Rewards transfers are one-way, so confirm award space, pricing, and taxes or fees directly with the travel partner before moving points.
Before transferring Membership Rewards, check for limited-time transfer bonuses that can improve the value of partner awards.
Most Amex partners transfer 1:1, but not all do. Check the transfer ratio before moving points, especially for partners like Cathay Pacific, JetBlue, and Emirates.
American Express Membership Rewards is one of the strongest transferable points systems in the hobby. It offers a robust lineup of airline and hotel partners along with a variety of cards that earn Membership Rewards points. Top Amex cards offer the highest welcome offers in the hobby, but they are often targeted and can be inconsistent. Beginners should make sure they understand eligibiity and family rules to avoid making a mistake that could lock them out of future welcome offers.
The best way to maximize the value of Membership Rewards is by using transfer partners. Because of this and the eligibility restrictions, the Amex ecosystem is easier to maximize for advanced hobbyists. For those seeking premium travel experiences, Amex offers excellent business- and first-class sweet spots, though they often require more expertise to book. Benefits and perks on their highest fee cards offer the most luxury in the hobby.
The biggest drawback is that Membership Rewards can be difficult to earn long-term due to Amex's eligibility restrictions. Because of these restrictions, it's important to understand how Amex's application and retention policies can affect future welcome offer eligibility. Despite those limitations, Membership Rewards remains one of the most valuable points currencies for travelers focused on airline transfers and premium-cabin redemptions.
With Amex, you have a 30-day grace period after your anniversary to cancel and receive a full annual fee refund. After that window, a product downgrade typically triggers a prorated refund of the fee difference. Wait at least 12 months before canceling, ideally within the 30-day post-anniversary period.
Amex rewards are tied to your account, not a specific card. To keep your points, you must hold at least one other Amex card that earns Membership Rewards (not Delta or Hilton). No transfer is required. Pooling and transferring between accounts are not options in this program.
You can redeem Membership Rewards points for a statement credit at only 0.6¢ per point. With an Amex Business Checking account you can reach 1¢ per point, which still isn’t great value. For the best return, transfer points to airline or hotel partners before booking.
The best place to use Amex points is with transfer partners. Move points to an airline or hotel program and book award travel for more than 1¢ per point you'll earn from the Amex Travel Portal. Partner sweet spots often yield much higher value once you get more advanced in the hobby.
You can upgrade, but it’s usually not recommended. Amex limits welcome offers to roughly once every 7 years per card. Upgrade bonuses are typically much smaller than new-card offers, so applying for a new Platinum card generally provides better long-term value.
There’s no way to avoid the Amex Platinum annual fee. The card’s benefits and welcome offer can offset year one, but ongoing value depends on your use of credits and lounges. If the math no longer works, your options are to cancel or downgrade to a lower-fee card.
Yes. Upgrading with points often costs less than paying cash, but you’ll usually get better value by transferring points to the airline and booking business class from the start. Amex partner sweet spots can produce excellent premium-cabin redemptions when available.
Tracking Points & Transfer Options
