American Express Membership Rewards points are some of the most valuable rewards you can earn. That’s because, with 18 airline and three hotel partner programs to transfer your Amex points to, there are so many great ways to redeem them. That flexibility is seriously valuable.
In our May 2025 valuations, TPG values Membership Rewards points at 2 cents per point. You might wonder how we arrived at that valuation.
In short, we believe that leveraging the right transfer partners should let you get at least 2 cents in value from every Membership Rewards point you redeem. And that’s not a ceiling — many of our readers have been able to get more than 5 cents per point in value when redeeming Membership Rewards points.
Here are seven ways to ensure you get at least 2 cents of value from each American Express Membership Rewards point you redeem, from flights to Europe to hotel stays in New York City.
Fly Virgin Atlantic economy class to London
Virgin Atlantic Flying Club’s economy-class Saver fare redemptions usually start at just 6,000 Virgin points plus $76 in fees and taxes from North America to Heathrow Airport (LHR). This is already a terrific deal, and transferring your Membership Rewards points to Flying Club at a 1:1 ratio consistently obtains at least 2 cents per point in value.
However, this summer it gets even better. Virgin has further discounted select Saver seats to as low as 4,800 Virgin points from the Northeast, such as this flight from Dulles International Airport (IAD) to LHR. By redeeming 4,800 points and $76 for an Economy Classic seat across the Atlantic, you can save $544 on the cash price of the same ticket, giving your Membership Rewards points a value of 9.75 cents each.
Related: Is Virgin Atlantic Economy Delight worth it on the Boeing 787 Dreamliner?
Luxury hotel stays in Hollywood
Membership Rewards points can be transferred to Hilton Honors at a ratio of 1:2, meaning you’ll receive twice as many Hilton points as your Amex points.
This summer, you can book deluxe queen or king rooms at the Waldorf Astoria Beverly Hills, part of Hilton Honors, for 120,000 Hilton Honors points per night.
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By transferring 60,000 Membership Rewards points (which would become 120,000 Hilton points), you could save $1,534 per night, giving your Amex points a value of 2.56 cents each.
Related: The best Waldorf Astoria hotels and resorts in the world
Celebrate the holidays in the Big Apple
New York City comes alive for the holiday season with Broadway shows, department store window displays and ice skating at Rockefeller Center.
With so many festive holidaymakers in the city, hotel prices in Manhattan can be sky-high, especially for the December weekends before Christmas Day.
Transferring your Membership Rewards points to Choice Privileges at a 1:1 ratio might not be the first way you think to redeem them, but this can be a great choice during times of high demand. The Mayfair Hotel, Ascend Hotel Collection in the heart of Manhattan’s Theater District has unfussy Superior rooms with city views for 45,000 points per night on weekends in December, saving you $909 and giving your Amex points a value of just over 2 cents apiece.
Related: From Alaska to New York City, here are our favorite Christmas markets in the US
Round-trip business-class flights to Europe this summer
If you prefer a lie-flat experience to Europe, consider transferring your Amex points to Air France-KLM’s Flying Blue program at a 1:1 ratio. The program offers business-class flights to Europe from just 60,000 miles each way.
This means you could book round-trip flights from John F. Kennedy International Airport (JFK) to Paris-Charles de Gaulle Airport (CDG) for 120,000 Amex points plus $707.51. With the cash price of $3,642.31 for the same flights on the same dates this July, your Membership Rewards points would be worth 2.45 cents each.
Related: Private suites and high-tech touches: What it’s like flying Air France’s new business class
Save on domestic flights
While Membership Rewards points cannot be transferred directly to the American Airlines AAdvantage program, there are several ways to book American Airlines flights with Amex points. One of the best-value options is transferring them at a 1:1 ratio to American’s Oneworld partner Qantas Frequent Flyer, where domestic redemptions start at just 7,600 Qantas points plus $6.
If you can find cheap cash rates on American, this may not result in a great-value Amex redemption. However, on routes where cash rates are high, perhaps because American is the only airline flying nonstop, you can find great value, like flying from Miami International Airport (MIA) to Charleston International Airport (CHS) this summer, where your 7,600 Amex points will save you roughly $280, a value of 3.7 cents per point.
Related: How to book domestic American Airlines flights with points and miles
A suite ride to Hawaii
Hawaiian Airlines has swanky new Boeing 787 Dreamliners fitted with lie-flat, reverse-herringbone suites in business class, all with direct aisle access.
This is one of the most comfortable ways you can travel to Hawaii.
For the best redemption rates, consider transferring your Amex points to JetBlue’s TrueBlue program at a 2.5:2 ratio. The best deals are available from Seattle-Tacoma International Airport (SEA) to Daniel K. Inouye International Airport (HNL); you will need just 30,750 Amex points transferred to TrueBlue to save almost $600.
Your Amex points are valued at almost exactly 2 cents each when redeeming them this way.
Related: We got a sneak peek at Hawaiian Airlines’ stunning new Boeing 787-9 Dreamliner
Warm up these winter holidays
To warm up this winter, you could spend Christmas at the luxurious Ritz-Carlton Maui, Kapalua. But as you might expect, this isn’t cheap.
The cash rate for a two-night stay is $5,606 per room. Or, transfer your Amex points to Marriott Bonvoy at a ratio of 2:3 and redeem 284,000 points for a two-night stay in the same room, giving your Membership Rewards points a value of 1.97 cents each.
Related: Best family resorts in Hawaii for a relaxing vacation
How to earn Membership Rewards points
Several popular Membership Rewards points-earning cards currently offer generous welcome bonuses:
- The Platinum Card® from American Express: Earn 80,000 Membership Rewards points after spending $8,000 on purchases in the first six months of card membership. However, you may be targeted for a higher offer through the CardMatch tool. (This offer is subject to change at any time.)
- American Express® Gold Card: Earn 60,000 Membership Rewards points after spending $6,000 on purchases in the first six months of card membership.
- The Business Platinum Card® from American Express: Earn 150,000 Membership Rewards points after spending $20,000 on eligible purchases in the first three months of card membership; plus, earn a $500 statement credit after spending $2,500 on qualifying flights booked directly with airlines or through American Express Travel in the first three months of card membership. You can earn one or both of these offers. Offer expires June 30.
- American Express® Business Gold Card: Earn 100,000 Membership Rewards points after spending $15,000 on purchases in the first three months of card membership.
Bottom line
With more transfer partners than any other major credit card currency, American Express Membership Rewards points are among the most valuable you can earn, and they’re easy to redeem if you know where to look.
By choosing the correct transfer partners, you should easily be able to obtain TPG’s valuation of Membership Rewards points of 2 cents each every time you redeem points.
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