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.
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You'll typically yield more value by transferring your points to airline partners and booking flights, but using points for hotel stays can be smart too. You'll do well when redeeming points for luxury hotels or when demand for hotels is high which translates into high cash prices.
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.
You can use Membership Rewards® points for all or part of your flight, prepaid car rental, vacation or cruise booking and for hotels booked and paid in advance when booking through American Express Travel. When you book your flight with us, there are no blackout dates or seat restrictions.
Redeeming Amex Points for CashThat's about 1/3 of their actual value when used correctly, so this is a dramatically bad redemption of the points Portnoy worked so hard to achieve. If he were to cash out directly using statement credits, Portnoy would receive about $900,000 on his 44.4 million Amex points.
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.