American Express points are worth 0.67 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 0.77 cents each when redeemed for travel through the Membership Rewards program, and they are worth 0.6 cents each when redeemed for cash back.
American Express Points Value by Redemption Method
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.
Yes, Amex Platinum is worth it for travelers with good credit who spend a lot and can take advantage of the card’s benefits. Amex Platinum benefits include a TSA PreCheck or Global Entry fee credit, airport lounge access, up to $200 in Uber credits and up to $200 in airline fee credits annually, and more. The card’s initial bonus of 100,000 points after you spend $6,000 in the first 6 months also goes a long way toward making the card worth its $695 annual fee.… read full answer
For the first year alone, you could wind up with at least $1,800 in net value (rewards and other perks, minus the $695 annual fee). The American Express Platinum card’s second year will have the same annual fee, but the total value of your benefits in year two would only be about $900 if you spent the same amount on the card as year one.
To really make money with this card after the first year, you’d have to spend a lot more. That said, many of the card’s perks are ongoing. You’ll benefit more if your purchases qualify for Amex Platinum’s ongoing bonus rewards rates, and if you utilize Amex Platinum’s complimentary Gold status in the Marriott Bonvoy and Hilton Honors hotel loyalty programs.
All in all, Amex Platinum 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 far too expensive for light spenders and occasional travelers.
No, Amex points do not expire. Cash back and miles earned using American Express credit cards do not expire, either. However, points and other rewards can be forfeited when you close your account or when your account is closed due to inactivity. American Express will also cancel all points, miles or cash back earned during any billing period where a late payment occurs.… read full answer
Read on to learn more about when you could lose your Amex points so you can make sure it doesn’t happen.
Here’s when Amex points expire:
Account Inactivity: Your American Express account can be closed due to inactivity – not making a purchase or bill payment for an extended period of time. When that happens, you have 90 days to redeem points before losing them. Amex doesn’t disclose a timeframe for closing accounts due to inactivity, so try to use your card regularly to keep your account active.
Closing Your Account: Unredeemed American Express rewards will expire when you close your account. Try to redeem a couple weeks in advance so there’s plenty of time for the transaction to be processed. You can even use the rewards to pay for some of your final balance.
Late Payments: Rewards earned during a billing period where a late payment occurs will be forfeited. You can reinstate lost points, though. Visit your account’s Points Summary page to reinstate them after bringing your account current. There’s a $35 fee for each billing period points are reinstated from.
Returned Purchases: Points earned from purchases that are later returned get deducted from your rewards total. When you return an item purchased with points, you may receive a statement credit or a points refund. Statement credits can be converted back into points by calling Membership Rewards at (800) 297-3276.
American Express points, cash back and miles do not expire. Just be sure to use all your rewards prior to closing an American Express credit card account. Use your card regularly to keep your account active, and remember to make payments on time to keep points earned each billing period.
There are 19 American Express airline partners, including U.S. companies like Delta and JetBlue. American Express cards with rewards points (excluding cards co-branded with a business) allow cardholders to transfer their points to these partner companies. Most Amex airline partners allow transfers at a 1:1 ratio. But there are a few exceptions, so be sure to check what you’re actually getting in return before you transfer.… read full answer
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