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.
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.
Consider transferring them to one of Amex's three hotel partners ? Hilton Honors at a 1:2 ratio, Marriott Bonvoy at a 1:1 ratio, or Choice Privileges (Choice Hotels) at a 1:1 ratio, though there's a special promotion now through October 31, 2021, that bumps up Hilton and Marriott transfers by 30 percent.
Many cash-back credit cards offer a few thousand points for signing up. The Gold Card is different. As of July 2023, American Express is offering 60,000 Membership Rewards points when you spend $6,000 on eligible purchases during your first six months of membership. This makes it worth adding a new card to your wallet.