Can I cash out my Amex points?

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.



Yes, you can "cash out" American Express Membership Rewards points, but the value you receive depends heavily on the method you choose. The most direct way is through a Statement Credit, often called "Cover Your Charges." However, this usually offers a lower value of approximately 0.6 to 0.7 cents per point, meaning 10,000 points only nets you about $60 to $70. A more lucrative "cash-like" option is to redeem points for gift cards, where you can often achieve a 1:1 value (1 cent per point) for brands like Amazon, Target, or Home Depot. For those with a Charles Schwab co-branded Platinum card, there is a unique "Invest with Rewards" feature that allows you to deposit points into a brokerage account at a higher rate (currently 1.1 cents per point). Generally, travel experts advise against cashing out for statement credits because you can get double or triple the value (2+ cents per point) by transferring them to airline or hotel partners, but if you simply need the liquidity, the option is always available in your rewards portal.

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Membership Rewards® points have no expiration date.

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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.

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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.

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Using points: Membership Rewards points can be redeemed for things like:
  • Travel.
  • Point transfers to partners, including airlines and hotels.
  • Gift cards.
  • Statement credits.
  • Shopping.
  • Donations to charity.


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You made a late payment If you don't pay at least the minimum amount due on your credit card statement, you will lose all of the Amex points you earned with that Amex card during that billing period. However, it is possible to retrieve points you lose this way.

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