Is the American Express Tripflex ‘pay with points’ option a good deal?
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Whenever I visit the statement page for my Platinum charge card on the American Express website, I am met with a message encouraging me to use their TripFlex feature to ‘pay with points’.
I thought it was worth taking a quick look at the various ways of redeeming Membership Rewards points for cash or ‘near cash’ and then showing you why this is generally a bad deal.
American Express Membership Rewards offers a number of ways in which you can redeem your points for cash or something that is nearly as good as cash. These include retailer gift cards as well as the option to book travel using your points or to redeem your points for a statement credit.
In general, these are all a bad deal.
I try to target 1p of value per Membership Rewards point. Transferring 1:1 into Avios or other airline miles can achieve this, as can hotel redemptions. This article from September shows how Club Carlson redemptions via an Amex Membership Rewards transfer can be great value.
By comparison, this is what you get for redeeming for cash or near-cash:
Redeeming points for statement credit = 0.4p per point
Redeeming for Boots gift cards = 0.5p per point
Redeeming for Marks & Spencer gift cards = 0.525p per point (special offer based on redeeming for £100-worth)
Redeeming for East Coast Trains gift cards (valid for all train operators) = 0.6p per point (special offer)
The TripFlex offer is slightly different. As I noted above, if you redeem your points for general statement credit you will only receive 0.4p per point. However, if you redeem your points against specific items of travel expenditure, you will receive 0.45p per point.
TripFlex is a 10% better deal than redeeming your points for a general statement credit. It is still a pretty poor deal overall and best avoided if you can.
None of these are great, frankly. You are better off trying to get ‘outsized’ value via the Membership Rewards travel partners.
Ironically, for booking hotels, you will get over 0.55p per point by transferring to Avios and using the Avios hotel booking service. That gets you almost 25% more value than booking via the Amex service and getting 0.45p per point.
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Want to earn more points from credit cards? – April 2025 update
If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.
In 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.
You qualify for the bonus on these cards even if you have a British Airways American Express card:

Barclaycard Avios Plus Mastercard
Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review

Barclaycard Avios Mastercard
Get 5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review
You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.
SPECIAL OFFER: Until 27th May 2025, the sign-up bonus on the ‘free for a year’ American Express Preferred Rewards Gold card is increased from 20,000 Membership Rewards points to 30,000 points. Points convert 1:1 into Avios (30,000 Avios!) and many other programmes. Some people may see even higher personalised offers. Click here to apply.
SPECIAL OFFER: Until 27th May 2025, the sign-up bonus on American Express Platinum is increased from 50,000 Membership Rewards points to a huge 80,000 points. Points convert 1:1 into Avios (80,000 Avios!) and many other programmes. Some people may see even higher personalised offers. Click here to apply.

American Express Preferred Rewards Gold
Your best beginner’s card – 30,000 points, FREE for a year & four airport lounge passes Read our full review

British Airways American Express Premium Plus
30,000 Avios and the famous annual 2-4-1 voucher Read our full review

The Platinum Card from American Express
80,000 bonus points and great travel benefits – for a large fee Read our full review

Virgin Atlantic Reward+ Mastercard
18,000 bonus points and 1.5 points for every £1 you spend Read our full review
Earning miles and points from small business cards
If you are a sole trader or run a small company, you may also want to check out these offers:

American Express Business Platinum
50,000 points when you sign-up and an annual £200 Amex Travel credit Read our full review

American Express Business Gold
20,000 points sign-up bonus and FREE for a year Read our full review

Capital on Tap Pro Visa
10,500 points (=10,500 Avios) plus good benefits Read our full review

Capital on Tap Visa
NO annual fee, NO FX fees and points worth 1 Avios per £1 Read our full review

British Airways American Express Accelerating Business
30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review
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