What are American Express Reward Dollars? This question is about American Express Credit Cards

What are American Express Reward Dollars?

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This question is about American Express Credit Cards

Keyaira Sutton, WalletHub Analyst

@keykey • 05/27/22 This answer was first published on 06/25/19 and it was last updated on 05/27/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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American Express Reward Dollars are the rewards “currency” provided by American Express cash back credit cards. Cardholders can redeem Amex Reward Dollars for statement credits, gift cards and merchandise.

American Express Cards that Earn Reward Dollars

Cash Back Rewards: American Express Cash Magnet® CardAmerican Express Cash Magnet® CardLearn MoreLearn More
No Annual Fee: Blue Cash Everyday® Card from American ExpressBlue Cash Everyday® Card from American ExpressLearn MoreLearn Moreon issuer's website
Bonus Rewards: Blue Cash Preferred® Card from American ExpressBlue Cash Preferred® Card from American ExpressLearn MoreLearn Moreon issuer's website

You earn Reward Dollars based on a percentage of your eligible purchases during each billing period. The base cash back earning rate is usually 1%, though you can earn more than that on certain purchases, depending on the card.

For example, the Amex Blue Cash Everyday card gives you 3% cash back at U.S. supermarkets, U.S. gas stations and on U.S. online retail purchases (up to $6,000 spent per year in each category), as well as 1% back on all other purchases, earned as statement credits. Not all types of transactions earn Reward Dollars. Some that don’t include fees, interest charges, balance transfers and cash advances. Other purchases such as prepaid cards and gift cards are also not eligible.

How to Redeem Reward Dollars

To redeem, log in to your online account and select “Use Reward Dollars.” Reward Dollars are worth $1 USD each, regardless of what you choose to redeem them for. One option is to redeem Reward Dollars for a statement credit. You’ll need at least $25 saved up to do that. For gift cards, you may have to redeem Rewards Dollars in $25 increments as well, depending on the card. Merchandise might be an option, too. Reward Dollars never expire as long as your account is open and in good standing. For the Amex Blue Cash Everyday card there is no minimum redemption amount.

All information about the American Express Cash Magnet® Card has been collected independently by WalletHub. The American Express Cash Magnet® Card is no longer available to new applicants through WalletHub, but may be available on the American Express website.

Answer Question

Do American Express rewards expire?

American Express rewards do not expire as long as the account is open and in good standing. You will forfeit any rewards you have yet to redeem if you or American Express closes your account for any reason.

Once the account is closed, American Express may give you 90 days to redeem your unused rewards. After that, you’ll lose your rewards and will not be able to get them back.… read full answer

Although American Express rewards don’t expire until the account is closed, it’s still a good idea to redeem your rewards as often as possible. Just bear in mind that American Express will not allow you to earn or redeem any rewards whenever you’re late making the minimum payments.

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Where is American Express accepted?

American Express is accepted at 10.6 million merchant locations in the U.S. and in 160+ countries and territories abroad. But you’ll find some stores that have exclusive deals with the more popular networks, Visa and Mastercard. For example, Costco only accepts Visa cards now, after switching from Amex only in 2016. Plus, despite the good number of foreign countries where you can use American Express cards, acceptance is on a merchant-by-merchant basis. So, coverage in a lot of countries is hit or miss.… read full answer

Here’s where American Express is accepted:

Where American Express is Accepted in the U.S.: 10.6 million merchants

Where American Express is Accepted Internationally: 160+ countries and territories

Countries Where American Express is Accepted Most: Canada, Australia, UK, India, Singapore

Places Where American Express is Not Accepted: Cuba, Sudan, South Sudan, Iran, Syria

Major Retailers That Accept American Express: Amazon, IKEA, Sears, Target, Walmart, Lowe’s, Apple, Best Buy, Staples, CVS

Major Retailers That Don’t Accept American Express: Costco, small non-chain stores/restaurants

So, an American Express card is enough for your shopping within the U.S. Though you may find some stores that don’t take it, the majority will. But you’ll probably want to have a no foreign transaction fee Visa or Mastercard when you go abroad. Those networks guarantee you worldwide coverage, with acceptance in over 200 countries and territories. Plus, Mastercard and Visa cards are accepted just about universally within those regions. Amex cards still have hit-or-miss acceptance in many.

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