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The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
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Save money on holiday gifts: 6 ways to redeem Amex Membership Rewards points
Katie Genter is a digital nomad who has traveled full time since June 2017. She writes and edits stories about points and miles, and loyalty programs, often letting her personal experiences color these stories.
December 10, 2024 • 9 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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Quick summary
Membership Rewards points can be redeemed for holiday gifts, travel or gift cards, with travel typically offering the highest value per point.
Transferring points to airline or hotel loyalty programs can provide up to 2 cents per point, per TPG’s December 2024 valuations.
Pay with Points can be used for flights, hotels, cruises and more, but redemption rates vary by category and merchant.
Gift cards, shopping at select merchants and charitable donations are alternative redemption options, though these often yield lower value per point.
What to consider
Some redemption options, such as covering recent charges or shopping at merchants, provide significantly less value per point than travel transfers.
Award availability and transfer times should be confirmed before moving points to travel partners, as some transfers may take up to 48 hours.
Gift card redemption rates and promotions can change frequently, so check current offers for the best value.
What you'll miss from the article
A detailed breakdown of redemption values and practical tips for maximizing the worth of your Membership Rewards points for holiday gifting.
Generated by AI with support from our editorial team.
Update: Some offers mentioned below are no longer available. View the current offers here.
If money is a little tight this year, you may find your American Express Membership Rewards points balance is higher than your savings account balance. If you fall into this camp, you may wonder how you can turn some of your Membership Rewards points into holiday gifts this season.
Typically we'd recommend redeeming your points for a trip. Travel is one of the best gifts you can give anyone — especially if you can give your time and the gift of travel together. Also, redeeming your Membership Rewards points for travel will generally provide the most value for your points.
However, not everyone can travel or wants to travel. Although redeeming your points for travel generally provides the most value on a cents-per-point basis, the best redemption is the one that helps you meet your goals. Right now, your individual goals may not involve a flight or hotel.
Transfer Amex points to travel partners to book award travel
Some transferable rewards programs let you share rewards with others. However, Amex is one of the more restrictive programs when it comes to sharing. Specifically, Amex only allows you to transfer Membership Rewards points to your loyalty accounts or the loyalty accounts of your authorized users.
D3SIGN/GETTY IMAGES
Luckily, most airline and hotel loyalty programs allow you to book awards for others when you're traveling together. Some loyalty programs even allow you to book travel for others when they’re traveling without you. So, you may be able to give the gift of travel this holiday season by booking award travel for others.
Amex Pay with Points allows you to redeem Membership Rewards points for 1 cent each when you book airfare through Amex Travel. So, a $1,000 flight would cost 100,000 Membership Rewards points if you use The Platinum Card® from American Express or the American Express® Gold Card.
Paddleboarding in Wailea, Hawaii. M SWIET PRODUCTIONS/GETTY IMAGES
However, holders of select Amex business cards get points back when using Pay with Points for airfare as follows:
The Business Platinum Card® from American Express: Get 35% of your points back when you use Pay with Points for eligible flights with your selected airline, up to 1 million points back per calendar year.
Centurion Business Card from American Express: Get 50% of your points back when you use Pay with Points for first- and business-class flights on any airline or flights on a selected airline in any class. Per Upgraded Points, beginning Feb. 1, 2025, Amex will impose a cap of 3 million points back annually for cardholders.
The information for the Centurion Business card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Best of all, you can book a flight for anyone using Pay with Points.
You can also book prepaid hotels, cruises, car rentals and vacations using Pay with Points through Amex Travel. However, you’ll only get 0.7 cents per point, so $700 in prepaid hotel stays will cost 100,000 Membership Rewards points.
You’ll get a slightly better redemption rate of 1 cent per point if you use Pay with Points for a prepaid stay booked through Amex’s Fine Hotels + Resorts program. Keep in mind, though, that only select Amex cardmembers can access this premium hotel program.
You can also redeem Membership Rewards points for a variety of gift cards. However, redemption rates depend on the type of gift card and current (targeted) offers available:
1 cent per Membership Rewards point (for example, $1,000 in gift cards for 100,000 points) for most gift cards
0.85 cents per point for select gift cards, including Best Western, Bonefish Grill and Macy’s
0.7 cents per point for select gift cards, including Best Buy, Four Seasons, Hilton, Marriott, Starbucks and Uber
0.5 cents per point for American Express gift cards (a $500 gift card for 100,000 points). Note that Amex is currently running a gift card promotion, so your points are worth about 0.67 cents apiece.
Other gift card promotions on my Amex Platinum Membership Rewards account include Apple gift cards at 1.06 cents per point; they were previously 0.85 cents per point. Additionally, Delta Air Lines gift cards are currently being offered at 0.87 cents per point; they were previously valued at 0.7 cents per point.
You can get a physical or digital gift card for most redemptions. You can obtain gift cards in various values, but most start at $25 or $50.
Pay with Points isn’t just for travel. You can use Pay with Points at checkout when you shop with various merchants, including Amazon, Best Buy, Dell, Grubhub, Seamless, PayPal, Rite Aid, Saks Fifth Avenue and Staples.
However, paying with points at these merchants usually isn’t a good use of your points if you’re looking for the best return. You’ll only get 0.7 cents per point for the merchants listed above when you redeem Membership Rewards points. So, a $700 purchase would cost 100,000 Membership Rewards points.
The redemption rate is even worse at 0.5 cents per point if you use Membership Rewards points for event tickets through Ticketmaster.
You can also donate your points to charity. Specifically, you can donate to more than 1.5 million U.S. charities through JustGiving with Amex Pay with Points.
You’ll get 0.7 cents per point when you make a JustGiving redemption. So, 100,000 Membership Rewards points would provide $700 toward the charity you choose.
If you buy gifts with your card from merchants that don’t participate in Pay with Points, you might consider using Membership Rewards points to cover your purchases.
Although you can redeem Membership Rewards points to cover recent charges on your card, doing so will only provide a redemption rate of 0.6 cents per point. So, you’d need 100,000 points to cover a $600 charge.
If cash is tight or you have a large stash of points, you may want to use your American Express Membership Rewards points for holiday gifts.
Want to give the gift of travel? You’ll get the best value from your points by transferring them to travel partners and then booking luxury hotel stays or premium-cabin flights for loved ones. You can also get 1 cent per point in value when using Pay with Points to book flights through Amex Travel.
Even if you don’t want to give the gift of travel, you can still get 1 cent per point in value by redeeming points for select gift cards.
Understanding the redemption value before you redeem your points for holiday gifts is a good idea. One easy way to compare all the options for your Amex Membership Rewards points is to use Amex’s Rewards Calculator.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
