Maximise your Avios, air miles and hotel points

What is the best use of Amex Membership Rewards points?

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What are American Express Membership Rewards points worth?

I have written numerous articles before about using American Express Membership Rewards points and a few pieces on how I value airline miles and hotel points.

I have pulled together both of these strands in this article on 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.

What are Membership Rewards points worth?

Membership Rewards sensibly chose to discontinue ‘physical’ redemptions a few years ago.  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?

The three main ways to earn Membership Rewards points in the UK from a personal American Express card are:

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

The Platinum Card from American Express

Huge 80,000 bonus points and great travel benefits – for a large fee Read our full review

American Express Rewards

The only ‘free for life’ Amex card which earns Membership Rewards Read our full review

The two most common business payment cards are:

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

The complex rules on whether you qualify for an American Express sign-up bonus are explained in my article here

Fundamentally, it is fairly easy to qualify for the bonus on Business Gold and Business Platinum (you cannot have held any Membership Rewards card for 13 months) and personal Platinum (you cannot have held a personal Green, Gold or Platinum card for 24 months). 

It is harder to qualify for the bonus on personal Preferred Rewards Gold or the American Express Rewards Credit Card (you cannot have held ANY personal Amex card for 24 months).

How I value Amex Membership Rewards points:

0.75p – 1.5p per point (my target)

Airline milesMy last piece on valuing Avios points is here and Amex points transfer into Avios at 1:1.  This is why the sign-up bonuses, such as 20,000 points for taking out the free (in Year 1) Americn Express Preferred Rewards Gold, 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, Etihad, Cathay Pacific, Delta, Finnair, Flying Blue, Qantas and SAS. The transfer rate to Singapore Airlines is 3:2 and to Emirates is 4:3.

My personal spreadsheet of the last 8.5m 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.

0.75p per point (my target)

Marriott Bonvoy hotel transfers.  Amex points convert at 2:3 into the Marriott Bonvoy programme.

This article explains why we value Marriott Bonvoy points at 0.5p which has held firm despite the move to nearer revenue-based reward pricing.

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 36 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 have had some exceptionally good redemptions in recent years which have got me far more than 0.5p per Bonvoy point as the valuation article above shows.

0.66p per point (my target)

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.

You can beat 0.33p per point if you are strategic in how and when you redeem, so there are reasons why you may want to transfer to Hilton instead of cashing out via Nectar.

0.55p per point (my target)

Club Eurostar points.  Following the 2023 devaluation, I value a Club Eurostar point at 7p to 10p. The 15:1 transfer rate into Club Eurostar means you are getting 0.55p per point if you take a midpoint of 8.5p.

You should get slightly more than 0.55p if redeeming in Standard class and slightly less if redeeming in Eurostar Plus (ex Standard Premier) or upgrading from Eurostar Standard to Eurostar Plus.

0.5p per point (guaranteed)

Retailer gift cards – Amazon, Harrods, Hotels.com, Marks & Spencer, Selfridges, Waterstones etc.  20,000 Amex points will get you a £100 shopping voucher, for example.

0.5p per point (guaranteed)

The value of a Nectar point, given that you can redeem Amex points for Nectar points at a 1:1 ratio.

0.45p per point (my target)

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

Until an October 2022 devaluation, Radisson Rewards points were a great use of American Express Membership points. Now they are not.

The average value has dropped from around 0.33p per Radisson Rewards point to around 0.15p as I show here. The conversion rate is 1 American Express Membership Rewards point to 3 Radisson Rewards points.

This means that you are getting around 0.45p per American Express point. You can’t do much better than this because Radisson Rewards pricing is now ‘dynamic’, with the points cost increasing if the cash price increases.

0.45p per point (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 (guaranteed)

Redeeming for American Express statement credit. The simplest and least worthwhile way of using your Membership Rewards points.

I hope this article gives you some ideas for using your American Express Membership Rewards points for maximum value.

Learn more about the credit cards mentioned above

Here is the legally required interest rate information on the credit cards mentioned above, together with links to our detailed reviews:

American Express Preferred Rewards Gold

Bonus: 30,000 points
SPECIAL OFFER

Read our full review

Other information:

  • Amex Gold is our recommended ‘first card’ for a miles and points beginner
  • Get four free airport lounge passes when you sign up, and a further four each year
  • After your four free passes, you can visit further lounges for a small fee
  • You receive £120 of Deliveroo credit each year (24 x £5 credits)
  • Annual fee: Free for the first year, £195 from Year 2

Representative 88.3% APR variable.  Annual fee applies after the first year.

See if you qualify for the 30,000 points sign-up bonus +

You will receive 30,000 American Express Membership Rewards points as a sign-up bonus on the American Express Preferred Rewards Gold card if you spend £3,000 within 90 days of signing up.

This is a special offer which runs to 14th January 2025.

Membership Rewards points are hugely flexible, which is why we recommend this as the best choice for your first miles and points card.  You can transfer them into Avios, Virgin Flying Club or other airlines (at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.

To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.

You are OK if you had a supplementary card on someone else’s American Express account.

You are OK if, currently or in the previous 24 months, you have held a Business American Express card.

For clarity, you can still apply for the American Express Preferred Rewards Gold card even if you do not qualify for the bonus.  You would still benefit from the four free airport lounge passes and the ‘no fee in Year 1’ offer.

Learn more about the card benefits +

American Express Preferred Rewards Gold comes with four free airport lounge passes.  These allow either you and up to three friends, or yourself four times, to visit any of the 1,400 lounges in the Priority Pass network.  You make additional lounge visits for £24 per person.  You receive an additional four free passes each year.

You earn double Membership Rewards points on all airline spend (made directly on an airline website) and all spend made outside the UK.

You will receive up to 12,500 bonus Membership Rewards points each year, based on how much you spend.

You receive £120 of Deliveroo credit each year.  Amex will repay you £5 for the first two Deliveroo orders charged to your Gold card each month.

Other benefits include a 10% discount on Hertz car rentals, Avis Preferred Plus car rental status and special deals at 700 selected hotels worldwide, where Preferred Rewards Gold cardholders receive a $100 in-hotel credit when booking a 2+ night stay.

You need a minimum personal income of £20,000 to apply for the card.

The Platinum Card from American Express

Bonus: 80,000 points
SPECIAL OFFER

Read our full review

Other information:

  • Two Priority Pass cards, each allowing two people into 1,400 airport lounges
  • Elite status in four major hotel loyalty programmes
  • Comprehensive travel insurance
  • £400 per year of restaurant credit (T&C apply)
  • £50 per half year of Harvey Nichols credit (ends June 2025)
  • Annual fee: £650

Representative 701.4% APR variable based on an assumed £1,200 credit limit and £650 annual fee. Interest rate on purchases 30.7% APR variable.

See if you qualify for the 80,000 points sign-up bonus +

You will receive 80,000 American Express Membership Rewards points as a sign-up bonus on The Platinum Card if you spend £10,000 within six months of signing up.

This is a special offer which runs to 14th January 2025.

Membership Rewards points are hugely flexible.  You can transfer them into Avios, Virgin Flying Club or other airlines (usually at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.

This is the ONLY personal American Express card where you still qualify for the bonus if you already hold a British Airways American Express card.

To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card which earns Membership Rewards points.  This includes The Platinum Card and Preferred Rewards Gold.

You are OK if you had a supplementary card on someone else’s American Express account.

You are OK if, currently or in the previous 24 months, you have held any other American Express card, including the British Airways, Marriott and Nectar cards.

For clarity, you can still apply for The Platinum Card even if you do not qualify for the bonus.  You would still benefit from the long list of other benefits.

Learn more about the card benefits +

The Platinum Card from American Express comes with an unrivalled list of benefits for the keen traveller.

Your personal travel patterns will determine which of these is the most valuable.  The key benefits are:

Full comprehensive travel insurance for you, your family and the family of your supplementary cardholder, subject to enrolment

Two Priority Pass cards, each of which allows the holder and a guest unlimited free access to 1,400 airport lounges

Elite status in four major hotel loyalty schemes: Marriott Bonvoy (Gold), Hilton Honors (Gold), Radisson Rewards (Premium), MeliaRewards (Gold)

Access to Eurostar lounges, irrespective of travel class

£200 per year to spend in over 170 UK restaurants (£100 per half year)

£200 per year to spend in over 1,500 international restaurants (£100 per half year)

£50 to spend at Harvey Nichols, instore or online (£50 per half year, this benefit ends on 30th June 2025)

The restaurant benefit is different for 2024.  If you apply today, you will receive £300 of dining credit to spend by 31st December 2024.  £150 can be used in selected UK restaurants and £150 can be used outside the UK.  The terms listed above will apply from 1st January 2025.

You need a minimum personal income of £35,000 to apply for the card.

American Express Rewards

Bonus: 10,000 points

Read our full review

Other information:

  • Your best choice if you want a ‘free for life’ card which earns Membership Rewards points
  • A good choice if you want to close a Gold or Platinum card but keep your points intact
  • Annual fee: Free

Representative 30.7% APR variable

See if you qualify for the 10,000 points sign-up bonus +

You will receive 10,000 American Express Membership Rewards points as a sign-up bonus on the American Express Rewards card if you spend £2,000 within 90 days of signing up.

Membership Rewards points are hugely flexible. You can transfer them into Avios, Virgin Flying Club or other airlines (at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.

To qualify for the bonus, you must NOT, currently or in the previous 24 months, have held any other personal American Express card.

You are OK if you had a supplementary card on someone else’s American Express account.

You are OK if, currently or in the previous 24 months, you have held a Business American Express card.

For clarity, you can still apply for the American Express Rewards card even if you do not qualify for the bonus.  You may want to do this if you are thinking of swapping your Preferred Rewards Gold or Platinum card for a free alternative, and would prefer to keep your existing Membership Rewards points balance alive.

Learn more about the card benefits +

American Express Rewards is the only ‘free for life’ American Express card which lets you collect Membership Rewards points.

We do NOT recommend this card if you would also qualify for the sign-up bonus on American Express Preferred Rewards Gold.  The Gold card is free for the first year, comes with four free airport lounge passes and £120 of Deliveroo credit and has a higher sign-up bonus of 20,000 points.

The best reason to get American Express Rewards is if you are coming to the end of your free first year with American Express Preferred Rewards Gold, or no longer want to pay the fee on The Platinum Card, but want to keep your Membership Rewards points intact.

You need a minimum personal income of £20,000 to apply for the card.

American Express Business Gold

Bonus: 20,000 Membership Rewards points

Read our full review

Other information:

  • Annual fee: Free for the first year
  • £195 annual fee from Year 2
  • Get £100 per year to spend at Dell
  • Points transfer at 1:1 into Avios and Virgin Points
  • You can also convert to other airlines, Eurostar and hotel schemes

This is a charge card, not a credit card. You must clear your balance in full each month.  Annual fee £195 from Year 2, free in Year 1.

See if you qualify for the 20,000 points sign-up bonus +

You will receive a sign-up bonus of 20,000 American Express Membership Rewards points if you spend £3,000 in your first three months.

Membership Rewards points are hugely flexible.  You can transfer them into Avios, Virgin Points or other airlines (at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.

There are no longer any rules on qualifying for the sign-up offer on this card.  If you are accepted, you will receive the bonus, irrespective of what other cards you hold or have recently held.

Learn more about the card benefits +

You receive £100 of Dell statement credit per calendar year.  This is made available in two parts.  You receive a £50 credit on Dell purchases made between January and June and a £50 credit on Dell purchases made between July and December.  There is no minimum spend requirement.

You can apply for complimentary Amex business cards for your employees.

You will receive one consolidated statement showing the spend on your card and all of the complimentary cards.  All of the Membership Rewards points earned on the complimentary cards will flow into your personal account.

Depending on when in your monthly cycle you make a payment, you will effectively receive up to 54 days free credit on your spending.

American Express statements provide more underlying transaction detail for flights and certain other transactions than Visa or Mastercard statements, making it easier to reconcile transactions.

You need a minimum personal income of £20,000 to apply for the card.

Terms and conditions apply to all card benefits.

American Express Business Platinum

Bonus: 50,000 Membership Rewards points

Read our full review

Other information:

  • Get £200 per year to spend at Amex Travel
  • Two Priority Pass cards, each allowing two people into 1,400 airport lounges
  • Elite status in four major hotel loyalty programmes
  • Get £150 per year to spend at Dell
  • Get £300 per year to spend at job ads site Indeed
  • Comprehensive travel insurance
  • Annual fee: £650

This is a charge card, not a credit card. You must clear your balance in full each month.  Annual fee £650.

See if you qualify for the 50,000 points sign-up bonus +

You will receive a sign-up bonus of 50,000 American Express Membership Rewards points when you spend £6,000 in your first three months.

Membership Rewards points are hugely flexible.  You can transfer them into Avios, Virgin Points or other airlines (at 1:1) or into various hotels schemes, into Club Eurostar or use them for shopping vouchers.

There are no longer any rules on qualifying for the sign-up offer on this card.  If you are accepted, you will receive the bonus, irrespective of what other cards you hold or have recently held.

Learn more about the card benefits +

American Express Business Platinum comes with an unrivalled list of benefits for the keen traveller.

Your personal travel patterns will determine which of these is the most valuable.  The key benefits are:

£200 of Amex Travel credit per membership year

Full comprehensive travel insurance for you, your family and the family of up to five complimentary cardholders, subject to enrolment

Two Priority Pass cards, each of which allows the holder and a guest unlimited free access to 1,400 airport lounges

Elite status in four major hotel loyalty schemes: Marriott Bonvoy (Gold), Hilton Honors (Gold), Radisson Rewards (Premium), MeliaRewards (Gold)

Other benefits include:

£150 of Dell statement credit per year – you receive £75 credit on Dell purchases betweeen January and June and £75 credit on purchases between July and December

£300 of credit to run job advertisements at indeed.com (£75 per quarter)

Digital subscription to The Times and The Sunday Times, worth over £300

You need a minimum personal income of £35,000 to apply for the card.

Terms and conditions apply to all card benefits.


best travel rewards credit cards

Want to earn more points from credit cards? – November 2024 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 February 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 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 card

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.

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

Huge 80,000 bonus points and great travel benefits – for a large fee Read our full review

Virgin Atlantic Reward+ Mastercard

30,000 bonus points (TO 18 NOVEMBER) 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

30,000 points (TO 9TH DECEMBER) plus good benefits Read our full review

Capital on Tap Business Rewards Visa

20,000 points (ONLY TO 9TH DECEMBER) 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

For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback when you spend at least £2,000 per month.

Barclaycard Select Cashback Business Credit Card

Get 1% cashback when you spend at least £2,000 per month* Read our full review

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