American Express is currently running its ‘best ever’ bonus of 60,000 Membership Rewards points plus a £200 Amex Travel credit when you take out The Platinum Card and spend £6,000 in your first six months.
This would convert into 60,000 Avios or lots of other great travel rewards.
Our main article on the Platinum ‘60,000 points + £200’ offer is here. In earlier articles (this is the last one) we looked at:
- ‘Are the four free American Express Platinum hotel status cards worth having?‘
- ‘Why American Express Platinum gets you into more lounges than you think‘
- ‘‘
- ‘If you cancel Platinum, the Amex Rewards Card will keep your points alive‘
You can apply for The Platinum Card here.
Today I want to look at the question of how much value can you get for your 60,000 American Express Membership Rewards points sign-up bonus?
The representative APR is 464.4% variable, including the annual fee. The representative APR on purchases is 29.7% variable.
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.
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 60,000 points bonus on American Express 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 four airport lounge passes and £10 per month of Deliveroo credit thrown in, apply here
- American Express Rewards (review) – the only ‘free for life’ Amex card which earns Membership Rewards, apply here
- American Express Business Platinum Card (review) – 40,000 points bonus and a host of benefits including airport lounge access for four people, four mid-tier hotel elite statuses, digital subscription to The Times, £150 of annual Dell credit and more, apply here
- American Express Business Gold (review) – 20,000 points bonus and FREE for a year, apply here
What are your 60,000 points from American Express Platinum worth?
0.75p – 1.5p per point, £450 – £900 (my target value)
Airline miles. My last piece on valuing Avios points is hereand 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 8.8 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.
0.8p per point, £480 (my target value)
Club Eurostar points. I value a Club Eurostar point at 12p as our article explains. The 15:1 transfer rate into Club Eurostar means you are getting 0.8p 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.
0.75p per point, £450 (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 31 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. Whilst not hugely glamorous, I will be in Moxy York in a fortnight where I am getting 0.9p per point.
0.66p per point, £400 (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 300 : 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 1.33 Nectar points worth 0.66p.
As long as you shop at Sainsbury’s, eBay or Argos, you can get 0.66p 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 0.66p per Membership Rewards point if you convert American Express points to Avios to Nectar.
All of the options below earn you less than 0.66p per point. You need to have a good reason to use any of the options below instead of Nectar. That said, if you know how to maximise the value of hotel points then Hilton can still be a decent option.
0.66p per point, £400 (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 brandsinclude Conrad, Waldorf Astoria and Hampton.
0.6p per point, £350 (my target value)
Radisson Rewards hotel transfers. Radisson Rewards in the UK covers Radisson Blu, Radisson RED, Radisson Edwardian, Park Inn and Park Plaza.
Radisson Rewards underwent a huge, secret, devaluation last year which moved it to a revenue based redemption basis overnight. 1 point is now worth roughly 0.2p, so at 3 Radisson points per 1 Amex point you are getting 0.6p for each Membership Rewards point you convert.
0.5p per point, £300 (guaranteed)
Retailer gift cards – Starbucks, M&S, Harrodsetc.
0.5p per point, £300 (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, £270 (guaranteed)
Redeeming for American Express statement credit at 0.45p per Membership Rewards point you cash in.
Conclusion
There is real value, potentially over £600-worth, in the 60,000 American Express Membership Rewards points you would receive as a sign-up bonus on American Express Platinum.
You will also, of course, pick up a £200 Amex Travel credit as well during this current special offer which runs to 13th June.
This assumes that you qualify for the bonus and meet the target of spending £6,000 in six 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 Platinum here.
Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points. The site discusses products offered by lenders but is not a lender itself. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as an independent credit broker.
Category
American Express Membership Rewards, American Express Platinum card
FAQs
What does 60000 points in Amex get you? ›
60,000 American Express points are worth about $402, depending on which American Express credit card you have and what you spend the points on. You will get the best value for your American Express points when you redeem them for Travel, but there are multiple redemption options.
What is the best way to spend Platinum American Express points? ›- Transfer points to airline partners. ...
- Transfer points to hotel partners. ...
- Bid on upgrades. ...
- Book travel directly via American Express. ...
- Pay off your credit card bill. ...
- Go shopping. ...
- Donate them to charity.
- Select the Right Card for Regular Use. ...
- Select based on sign-up bonus points. ...
- Use your card for the big spends. ...
- Use your credit card for mobile wallets. ...
- Shop online through your credit card's website. ...
- Sign up for the perks. ...
- Use your card for business expenses.
Salary Needed for Amex Platinum Credit Card
If you make nearly $100,000 a year and have good credit, you should have no issue getting approved. But, applicants with annual incomes as low as $40,000 have also been approved if they have a low debt-to-income ratio and pay their other credit cards in full every month.
| Distance (miles) | Economy | Business |
|---|---|---|
| 0 - 500 | 6,000 pts | 15,000 pts |
| 501 - 1,500 | 10,000 pts | 20,000 pts |
| 1,501 - 2,750 | 12,500 pts | 25,000 pts |
| 2,751 + | 22,500 pts | 35,000 pts |
Cover your card charges
You can redeem your Membership Rewards points for a statement credit, which is essentially a cash-back option. Points are generally worth 0.6 cent apiece when used in this way.
Earn 10x points on eligible purchases at U.S. gas stations and U.S. supermarkets, on up to $15,000 in combined purchases, during your first six months of card membership. That's an additional 9 points on top of the 1 point you earn for these purchases.
Do Amex Platinum points expire? ›Membership Rewards® points have no expiration date. However, points may be forfeited as described in the program Terms and Conditions.
Why is Amex Platinum so expensive? ›The main reason why Amex cards are so expensive is that many American Express credit cards offer generous rewards rates and high-end perks, which warrant steep annual fees. Amex cards are targeted toward people with good credit and high incomes who are likely to charge large amounts to their cards every month.
Is it worth having 2 Amex cards? ›The bottom line
Because each card offers different benefits and earning power, it makes sense to carry more than one card. By using the AmEx Trifecta of cards, you'll earn maximum points on travel, dining, groceries and other purchases.
How much is 2 million Amex points worth? ›
AMEX points can be used for a variety of rewards including travel, merchandise, gift cards, and statement credits. Assuming an average value of 1 cent per point, 2 million AMEX points would be worth $20,000.
Does Amex ever raise your limit? ›Yes, Amex increases credit limits automatically. This might happen if you have excellent creditworthiness and make all your payments on time. Paying your balances in full each month or maintaining a low credit utilization ratio might also work in your favor.
Is Amex Platinum prestigious? ›Yes, the American Express Platinum card is considered a prestigious credit card, as it's geared for big spenders who travel often and can take advantage of the card's many benefits. New cardholders earn 80,000 points for spending $6,000 in the first 6 months.
Is Amex Platinum a status symbol? ›Yes, the American Express Platinum card is considered a status symbol because of its exclusive benefits, high annual fee, and reputation as a premium metal credit card. The American Express Platinum card caters to high-spenders who travel frequently and want a wide range of luxury travel perks and lifestyle benefits.
How do I get my Amex Platinum fee waived? ›Apply for the Amex financial relief program: If you're having difficulty paying your annual fee due to unforeseen financial difficulty, apply for the financial relief program online or call Amex at (866) 703-4169. You could potentially have your annual fee waived.
What is 70 000 Amex points worth? ›| Number of American Express Points | Average Value |
|---|---|
| 70,000 | $469 |
| 60,000 | $402 |
| 50,000 | $335 |
| 40,000 | $268 |
While 200K Amex points will typically only give you about $2,000 in value when you shop for flights in the Amex travel portal, you can sometimes find Business or First Class flights — that can normally cost over $10,000 — for only 200K points, when transferred to a frequent flyer program.
How many dollars is 100 000 Amex points? ›| Number of American Express Points | Average Value |
|---|---|
| 100,000 | $670 |
| 90,000 | $603 |
| 80,000 | $536 |
| 70,000 | $469 |
Generally speaking, it's better to redeem your points for travel. You're likely to get more value from a travel redemption than cash back for the same number of points. It's best to aim to get at least 1.5 cents value from each point.
Should I use my Amex for everything? ›Some people use their cards for everything, others for little or nothing, and either way can be fine. But as long as you avoid interest charges by paying on time, and in full, and keep your credit utilization low, using your credit card can help you earn rewards and boost your credit score.
How much is 65000 Amex points worth? ›
65,000 American Express points are worth about $435.5, depending on which American Express credit card you have and what you spend the points on. You will get the best value for your American Express points when you redeem them for Travel, but there are multiple redemption options.
Why is Amex Platinum so good? ›Not only do you get access to Priority Pass lounges that many other premium credit cards offer, but you also get access to swanky Amex Centurion Lounges, International Centurion Lounges, Escape Lounges – The Centurion Studio Partner, Plaza Premium Lounges, Airspace Lounge, select Virgin Clubhouses, select Lufthansa ...
What happens if you don t pay amex platinum in full? ›If you don't pay Amex Platinum in full, you will be charged interest on any purchases added to a Pay Over Time balance. With Pay Over Time, you can add eligible charges to a Pay Over Time balance, up to a limit.
Does Amex Platinum give you a limit? ›If you have a Consumer or Business Green, Gold or Platinum Card, your Card does not have a credit limit. Instead, your Card has no preset spending limit unless you have been previously notified otherwise. No preset spending limit means the spending limit is flexible.
Is Amex Platinum worth it over gold? ›Amex Platinum ultimately offers more value, though. For example, its benefits include airport lounge access, while the Amex Gold Card's perks do not. When it comes to ongoing rewards on purchases, Amex Platinum has a higher maximum earning rate and better travel rewards. But Amex Gold provides more everyday value.
Does Amex Platinum affect credit score? ›Yes, the American Express Platinum card reports to the credit bureaus every month, within days after the cardholder's billing period closes. American Express reports the card's credit limit, account balance, and payment history to all three of the major credit bureaus: Experian, TransUnion, and Equifax.
Can you downgrade Amex Platinum after a year? ›You can downgrade the American Express Platinum card by calling customer service at (800) 528-4800. As an American Express Platinum cardholder, you can only downgrade to the American Express® Gold Card or the American Express® Green Card.
Why would anyone get Amex Platinum? ›The Amex Platinum® is a premium credit card that offers a welcome bonus, luxury perks, and other value-added services. Cardholders benefit from Uber credits, airfare discounts, bonus points, cashback and much more. Unlike typical credit cards, this card allows you to carry a balance for certain charges, but not all.
Does American Express waive annual fees? ›Amex waives the annual fee on all of their cards, including the AMEX Platinum. Cards opened while on active duty are waived with Military Lending Act (MLA). Cards opened before active duty are waived with SCRA.
Is the Amex Platinum Card metal? ›Yes, the American Express Platinum card is made out of metal. The American Express Platinum card is made of stainless steel and weighs 18.5 grams, compared to a traditional card made of plastic, which only weighs 5 grams.
What is the 5 24 rule? ›
The Chase 5/24 rule is an unofficial policy that applies to Chase credit card applications. Simply put, if you've opened five or more new credit card accounts with any bank in the past 24 months, you will not likely be approved for a new Chase card.
What are the disadvantages of American Express card? ›Disadvantages of AmEx cards
One disadvantage of AmEx cards is that they charge both the seller and the buyer for processing a transaction. Since they do not rely on financial companies, such as Rupay, Mastercard or Visa, and have their own payment network, they charge additional fees on the transactions.
Amex 2-in-90 rule
American Express restricts card approvals to no more than two within 90 days. You'll want to coordinate this restriction with the 1-in-5 rule to increase your odds of being approved for multiple Amex cards. Unfortunately, there are no exceptions to the Amex 2-in-90 rule.
50,000 points will cover the cost of unlimited, ad-free music for up to two years. You can also put points towards a Premium Spotify membership and the rest on upgrading your audio experience with a Bose Home Speaker 300.
How do I get a black AMEX card? ›The American Express Black Card isn't available to just anyone. It's a charge card that's offered to high-net-worth individuals (HNWIs) only through an invitation. Think of it as an exclusive club. This means that you can't just apply to join.
How much money is 1 million AMEX points worth? ›As a general guide, the point value can range from 0.5 cents per point to more than 2 cents per point, depending on how you redeem them. Therefore, 1 million AMEX points could be worth anywhere from $5,000 to $20,000 or more, depending on the redemption method.
Why did Amex give me a high credit limit? ›As a reward, the credit card issuer may automatically grant you a higher credit limit, or invite you to request one. It could be just a small bump, or it may be as much as 30%. The news may come to you out of nowhere, but it's no reason to be concerned. In fact, it's a sign you're managing your credit card well.
Why would Amex lowered my limit? ›If you missed due dates or carry high debt and only send the minimum payments, the issuer may shorten the limit. Or, if you haven't paid with the card in a long time, the issuer may decide to reduce the line or even close the account.
Why does Amex keep lowering my credit limit? ›Inactivity is one of the most common reasons for credit card companies to lower credit limits. They may also cut limits to lower their risk with specific customers.
How much is 60000 credit points? ›For example, 60,000 points are worth $750 when redeemed for travel purchases, or $600 when redeemed for cash.
How much is $100 000 American Express points worth? ›
| Number of American Express Points | Average Value |
|---|---|
| 100,000 | $670 |
| 90,000 | $603 |
| 80,000 | $536 |
| 70,000 | $469 |
To get maximum value from your 50,000 Amex points, redeem for certain gift cards or travel packages through Membership Rewards. Depending on the redemption method, the value of 50,000 Amex rewards points ranges from $250 to $500. The average value is $325, as each Amex point is worth an average of about 0.65 cents.
Is a 60000 credit limit good? ›Yes, a $60,000 credit limit is very good, as it is well above the average credit limit in America. The average credit card limit overall is around $13,000, and people who have limits as high as $60,000 typically have good to excellent credit, a high income and little to no existing debt.
How far can you fly with 60000 points? ›60,000 American Airlines Miles
Within the United States: 12,500 miles (main cabin) and 25,000 miles (business/first) Hawaii: 22,500 (main cabin) and 55,000 miles (business/first) Mexico: 15,000 (main cabin) and 25,000 miles (business/first)
60,000 Capital One miles are worth an average of $420, depending on how you redeem them. Capital One miles are worth the most when redeemed for travel, but you can also redeem for a statement credit, a check or gift cards, among other options.
What is 75 000 AMEX points worth? ›75,000 American Express points are worth an average of $502.5, depending on which American Express credit card you have and what you spend the points on. You will get the best value for your American Express points when you redeem them for Travel, but there are multiple redemption options.
How much is 1 million AMEX points? ›As a general guide, the point value can range from 0.5 cents per point to more than 2 cents per point, depending on how you redeem them. Therefore, 1 million AMEX points could be worth anywhere from $5,000 to $20,000 or more, depending on the redemption method.
Is 90000 AMEX points a lot? ›With 90,000 Amex points, it's totally realistic to get upwards of 8 to 10 cents per point of value when booking business or first class award travel. In this case, some of our favorite experiences include Emirates first class, Singapore Airlines business class, Qatar Airways Qsuites, and Etihad business class.
How much money is 200000 Amex points? ›While 200K Amex points will typically only give you about $2,000 in value when you shop for flights in the Amex travel portal, you can sometimes find Business or First Class flights — that can normally cost over $10,000 — for only 200K points, when transferred to a frequent flyer program.
How much is 150000 Amex Platinum points worth? ›| Number of American Express Points | Average Value |
|---|---|
| 150,000 | $1,005 |
| 140,000 | $938 |
| 130,000 | $871 |
| 120,000 | $804 |
How much is 44 million Amex points worth? ›
Or, just cash out for $488,443
While the points would be worth a lot more when used for flights, when you have over 44 million points at your disposal that you're not using, it could make sense to cash out at least a portion of them.
| Number of American Express Points | Average Value |
|---|---|
| 80,000 | $536 |
| 70,000 | $469 |
| 60,000 | $402 |
| 50,000 | $335 |