How do I earn and redeem Amex Platinum points?

Amex Platinum points redemption options include travel purchases, gift cards, statement credits and more. To view all Amex Platinum points redemption options and the number of points available to redeem, log in to your Platinum online account and click the Rewards tab to access the Membership Rewards page.

To begin redeeming points, choose your preferred redemption method from the tabs near the top of the page.… read full answer

How much Amex Platinum points are worth fluctuates greatly based on how you redeem them. They’re valued at 1 cent each toward airline tickets and prepaid hotels booked through the American Express Travel website. Points are also worth 1 cent each toward most gift cards, but less toward other purchases, such as most hotel bookings and car rentals (0.7 cents) and statement credits (0.6 cents).

You can use the Amex Rewards Calculator to see all the Amex Platinum points redemption values.

American Express points are worth 0.7 cents per point, on average. The value of American Express points depends on how you choose to redeem the points. For example, points from American Express are worth up to 0.8 cents each when redeemed for travel through the Membership Rewards program, and they are worth 0.6 cents each when redeemed for cash back. … read full answer

American Express Points Value by Redemption Method

Popular American Express Cards

• American Express® Gold Card
• The Platinum Card® from American Express
• American Express® Green Card
• American Express® Business Gold Card
• The Blue Business® Plus Credit Card from American Express
• The Business Platinum Card® from American Express

Tips for Maximizing the Value of American Express Points

Redeem Points for Travel.

American Express points are worth the most when redeemed for travel.

Redeem American Express points regularly.

American Express points do not expire due to account inactivity, but stockpiling points does put you at risk of rewards devaluation. Plus, you won't get to enjoy the fruits of your spending if you don't redeem.

Keep your account in good standing.

If American Express closes your account because of a failure to pay the bill or fraudulent activity, you'll lose any unredeemed points you have saved. And if you pay late, you might have to pay a fee to get back the points from that billing period.

Redeem before closing your account.

Any points you don't redeem before closing your account will be lost, unless you keep another American Express credit card account open.

The American Express Platinum card is worth it if you travel frequently, spend a lot, and can take advantage of the card’s many benefits. American Express Platinum card benefits include Uber and airline fee credits, lounge access and more. But the American Express Platinum card is not worth it if you rarely travel and won’t spend enough ($5,000 in the first 6 months) to qualify for the card’s initial bonus: 75,000 points. That bonus, along with the card’s annual travel credits, goes a long way toward affording the American Express Platinum card’s $550 annual fee.… read full answer

But before you decide, let’s do a little bit of math to see whether the American Express Platinum card is worth the expense, starting the first year.

Here’s more info about the American Express Platinum card:

• Annual fee: $550
• Initial bonus: 75,000 points for spending $5,000 in the first 6 months
• Rewards earned: 1 - 5 points per $1, depending on the type of purchase
• Annual Uber credit: Up to $200, annually
• Annual airline fee credit: Up to $200, annually
• Saks Fifth Avenue Credit: Up to $100, annually
• Lounge access: $429
• TSA pre-screening or Global Entry application waiver: $85 or $100, respectively

So, for your first year alone, you could wind up with hundreds of dollars in net value. And that doesn’t even factor in the card’s normal, purchase-based rewards. Normal spending could add even more, too, if your purchases qualify for the American Express Platinum card’s ongoing bonus rewards rates: 5 points / $1 spent on airfare and prepaid hotel stays booked through American Express. Similarly, there are other benefits that you could take advantage of, including Gold status in the Marriott Bonvoy and Hilton Honors loyalty programs and complimentary amenities worth with an average of $550 per stay at participating Fine Hotels and Resorts.

Now let’s look at the card’s second year. You’re still paying the $550 annual fee, but you no longer have an initial bonus to help make up for it. Also gone in year two is the value of the pre-screening application waiver, if you use it year one. As a result, if you spend the same amount as the first year, the total value of your benefits wouldn’t be much more than the annual fee. So, you’d be putting in and getting out about the same amount of value. To really make money with this card after the first year, you’d have to spend a lot more.

So, the American Express Platinum card is a good card for big spenders who travel all the time and can wring every drop of value out of its benefits. But it’s too expensive for light spenders and occasional travelers.