What’s changing?

First up, American Express is flattening out the earn structure on some of its cards. That means, instead of having a different earn rate for different types of spending, the earn structure will be simplified. With flattened earn structures, the cards also become easier to understand. In most cases, these changes will not affect anything else on the card, such as annual fees, interest, features or extras, unless American Express chooses to do so on any specific card.

It’s also worth pointing out that unlike many other rewards cards out there, American Express does not limit the number of points cardholders can earn. There are no points caps in place, and there are no spend thresholds. While other cards may reduce or stop points earning past a certain spending threshold, American Express cards do not.

Earn Rate Changes

In 2019 the earn rates changed. We’ve listed the current earn rates here (these rates were updated in April 2024):

Qantas American Express Discovery Credit Card

• 1.75 points per $1 on Qantas products and services
• 0.5 points per $1 on government spending
• 0.75 points per $1 on all other spending

American Express Velocity Escape Credit Card

• 1.75 points per $1 on Virgin Australia products and services
• 0.5 points per $1 on government spending
• 0.75 points per $1 on all other spending

American Express Platinum Edge Credit Card

• 3 points per $1 at supermarkets
• 3 points per $1 on petrol
• 2 points per $1 on overseas spend
• 1 point per $1 on government, utilities, insurance and telecommunications
• 1 point per $1 on all other spending

Qantas American Express Premium Credit Card

• 2 points per $1 on Qantas products and services
• 0.5 points per $1 on government spending
• 1 point per $1 on all other spending

American Express Velocity Platinum Credit Card

• 2.25 points per $1 on Virgin Australia products and services
• 0.5 points per $1 on government spending
• 1.25 points per $1 on all other spending

American Express Explorer Credit Card

• 1 point per $1 on government spending
• 2 points per $1 on all other spending

Qantas American Express Ultimate Credit Card

• 2.25 points per $1 on Qantas products and services
• 0.5 points per $1 on government spending
• 1.25 point per $1 on all other spending

Note: After a total of 100,000 Qantas Points is earned in a calendar year, the everyday earn rate will change from 1.25 to 1 Qantas Point per $1 spent. For Card Members who applied for the Card between 1 July 2023 – 9 January 2024, this change will come into effect from 10 July 2024.

American Express Business Charge Card

• 1 point per $1 on government spending
• 1.5 points per $1 on utilities & insurance
• 1.5 points per $1 on all other spending

American Express Business Explorer Credit Card

• 1 point per $1 on government spending
• 2 points per $1 on all other spending

Redemption Rate Changes

Some of the redemption rates have also changed. Here are the point conversions you can expect (list updated 2024).

Membership Rewards Gateway

Membership Rewards Ascent and Premium Ascent

Is your American Express card still a good card?

American Express cards are still some of the most popular on the market and come with a huge variety of features, points and perks. You can compare American Express cards here, and compare other rewards cards here. Want to make your rewards card as rewarding as it can possibly be? Check out our article Beat the Banks: How To Maximise Your Rewards Points.