100,000 AMEX POINTS: What is the best use of your huge Business Platinum sign-up bonus?

UPDATE – APRIL 2025:  This article is now out of date, but don’t worry.  We produce a monthly directory of the top UK travel credit card offers – please click HERE or use the ‘Credit Cards’ menu above.  Thank you.

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.

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American Express is currently running a ‘you will never see better’ bonus of 100,000 Membership Rewards points when you take out American Express Business Platinum and spend £10,000 in three months.

This would convert into 100,000 Avios or lots of other great travel rewards.

If you don’t want a paid card, you can also get an astonishing 50,000 Membership Rewards points with the ‘free for a year’ American Express Business Gold.

Our main article on the Business Platinum 100,000 points and Business Gold 50,000 points offers is here. A more in-depth review of Amex Business Platinum is here and a review of Amex Business Gold is here.

You can apply for Business Platinum here and for Business Gold (free for a year) here.

Today I want to look at a more direct question – how much value can you get for your 100,000 American Express Membership Rewards points sign-up bonus?

This article is about how to make the best use of your Amex Membership Rewards points.  It does NOT cover every Membership Rewards redemption but it does cover the bulk of the pseudo-cash, cash and travel options. If we haven’t covered an option, you should assume that it offers poor value.

Membership Rewards sensibly chose to discontinue ‘physical’ redemptions in 2019.  You can no longer redeem your points for a toaster.  This is good news because the toaster was, unsurprisingly, poor value for your points.  If you still want a free toaster, redeem your points for an Amazon gift card.

The Amex Membership Rewards website is here if you want to look for yourself at what is available.

How can you earn Membership Rewards points?

This article is based around the current 100,000 points bonus on American Express Business Platinum. However, you can also earn Membership Rewards points from other American Express cards. These include:

• American Express Preferred Rewards Gold (review) – 20,000 points bonus and FREE for a year, with two airport lounge passes and £10 per month of Deliveroo credit thrown in, apply here

• The Platinum Card (review) – 30,000 points bonus and a host of benefits including airport lounge access for four people, four mid-tier hotel elite statuses, £100 per year of Harvey Nichols credit and more, apply here

• American Express Rewards (review) – the only ‘free for life’ Amex card which earns Membership Rewards, apply here

• American Express Business Gold (review) – until 31st March, 50,000 points bonus and FREE for a year, apply here

What are your 100,000 points from American Express Business Platinum worth?

0.75p – 1.5p per point, £750 – £1,500 (my target value)

Airline miles.  My last piece on valuing Avios points is here and Amex points transfer into Avios at 1:1.  This is why the sign-up bonuses are so valuable.

It is impossible to tie down a tighter range because of the number of different airline partners and the various ways (upgrade, long-haul, short-haul, economy, premium) you can redeem.  Membership Rewards points convert at 1:1 to Avios, Virgin Atlantic, Emirates, Etihad, Cathay Pacific, Delta, Finnair, Flying Blue, Qantas and SAS. The transfer rate to Singapore Airlines is 3:2.

My personal spreadsheet of the last 8.5 million Avios I have redeemed shows that I got an average value of 1.2p.  This is based on what I would personally have been prepared to pay for the flights I took, however, which may be far different from what you would have been prepared to pay.  My best redemptions far exceeded this.

1p per point, £1,000 (my target value)

Radisson Rewards hotel transfers.  Radisson Rewards is probably the least understood of the American Express hotel partners, but their points can have real value.

Radisson Rewards in the UK covers Radisson Blu, Radisson RED, Radisson Edwardian, Park Inn and Park Plaza.

We explain our 0.33p valuation of Radisson Rewards points here. The conversion rate is a generous 1 Amex point to 3 Radisson Rewards points.  You need (75,000 / 3) 25,000 Amex points for the most expensive hotels and if you assume a £250 per night cash cost then 1p per point is realistic. 

Radisson points are poorer value at the bottom end, with the cheapest UK Park Inn hotels now requiring 30,000 points, although a room rate of £100 still justifies 1p per Amex point. 

0.8p per point, £800 (guaranteed value)

In early 2021, the supermarket loyalty scheme Nectar become a partner with British Airways Avios points. You can convert 50,000 Avios per month to Nectar, at a rate of 250 : 400.

Because a Nectar point has a fixed value of 0.5p when spent at Sainsbury’s, eBay or Argos, it means that 1 Avios can be turned into 1.6 Nectar points worth 0.8p.

As long as you shop at Sainsbury’s, eBay or Argos, you can get 0.8p per Membership Rewards point, guaranteed.

To do this, you convert your American Express points to Avios and then transfer them to Nectar.

Before I go on ….

You are guaranteed 0.8p per Membership Rewards point if you convert American Express points to Avios to Nectar.

All of the options below earn you less than 0.8p per point. You need to have a good reason to use any of the options below instead of Nectar.

0.75p per point, £750 (my target value)

Marriott Bonvoy hotel transfers.  Amex points convert at 2:3 into the Marriott Bonvoy programme.  It is fairly easy to get 0.5p per Marriott Bonvoy point as I explain here.

0.5p per Marriott Bonvoy point means, at a 2:3 exchange rate from Membership Rewards, you should be getting 0.75p per Membership Rewards point.  You now have a whopping 30 hotel brands to redeem at, including Le Meridien, Sheraton, Westin, W, Marriott, Autograph, Design Hotels, The Luxury Collection, The Ritz Carlton, St Regis etc etc.

I had some exceptionally good returns pre-covid which have got me far more than 0.5p per Bonvoy point.  These include St Regis New York for 60,000 Bonvoy points (40,000 Amex points) when cash rates were $1,100 + tax, and the new The Langley country house hotel for just 35,000 points (23,300 Amex points). At Christmas 2020 I got 1.2p per point in Ras Al Khaimah as I explained here. All of these hotels have gone up in points price since my stays, however.

0.66p per point, £660 (my target value)

Hilton Honors hotel transfers.  Hilton has moved closer to a revenue-based redemption model in recent years, although you can get still outsized value at times.  Over time I have come to believe that 0.33p per point is a fair valuation for a Hilton Honors point.  The conversion rate is 1:2 to Hilton which is how I get to 0.66p per Amex point.  Hilton brands include Conrad, Waldorf Astoria and Hampton.

Club Eurostar points.  I value a Club Eurostar point at 10p, assuming you value a standard class return at £100 and a Standard Premier return at £200.  The 15:1 transfer rate into Club Eurostar means you are getting 0.66p per point.  Club Eurostar offers guaranteed availability – if there is a seat for cash, you can book it for points – which means that you are more likely to be redeeming onto peak trains which are peak priced for cash.

0.5p per point, £500 (guaranteed)

Retailer gift cards – Starbucks, M&S, Harrods etc.

0.5p per point, £500 (guaranteed)

The value of a Nectar point, given that you can redeem Amex points for Nectar points at a 1:1 ratio.  It is stupid to do this, however, given that you get 60% more value by transferring American Express to Avios to Nectar as I explained above.

0.45p per point, £450 (guaranteed)

Linking your Amex account to amazon.co.uk and paying for your purchases directly with points (more in this article).  This is a slightly silly option, however, as you can also redeem for Amazon gift cards and get 0.5p per point.

0.45p per point, £450 (guaranteed)

Redeeming for American Express statement credit at 0.45p per Membership Rewards point you cash in.

Conclusion

There is real value, potentially over £1,000-worth, in the 100,000 American Express Membership Rewards points you would receive as a sign-up bonus on American Express Business Platinum.

This assumes that you qualify for the bonus and meet the target of spending £10,000 in three months. Remember that you can cancel the card at any point for a pro-rata refund of the annual fee.

You can apply for American Express Business Platinum here.

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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:

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.

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: