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American Express has rolled out changes to its rewards program since 2019. Here are the updated American Express Membership Rewards Points so you know exactly what you’re getting with an Amex Rewards card.
Amex has simplified the earn structure on some of its cards, which is good news for cardholders because it’s 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.
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
American Express Platinum Edge Credit Card
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 CardSome of the redemption rates have also changed. Here are the point conversions you can expect (list updated 2024).
Old Point Conversion | New Point Conversion (updated April 2024) |
1 MR point = 1 Velocity Point | 2 MR Points = 1 Velocity Point |
4 MR points = 3 KrisFlyer Miles | 3 MR Points = 1 KrisFlyer Mile |
4 MR points = 3 Skywards Miles | 3 MR Points = 1 Skywards Mile |
3 MR points = 2 Marriott points | No change |
1 MR point = 1 Hilton Honors point | 2 MR points = 1 Hilton Honors point |
13,500 MR points = $100 gift card | 20,000 MR points = $100 gift card |
13,500 MR points = $100 at American Express Travel | 13,500 MR points = $67.50 at American Express Travel |
Select + Pay with points: 1,000 MR points = $7.41 credit | Select + Pay with points: 1,000 MR points = $5 credit |
Points for credit: From 13,500 MR points = $100 | Points for credit: From 13,500 MR points = $67.50 |
Old Point Conversion | New Point Conversion (updated April 2024) |
1 MR point = 1 Velocity Point | 2 MR points = 1 Velocity Point |
1 MR point = 1 Qantas Point (Ascent Premium only) | 2 MR point = 1 Qantas Point (Ascent Premium only) |
1 MR point = 1 KrisFlyer Mile | 3 MR points = 1 KrisFlyer Mile |
4 MR point = 3 Skywards Miles | 3 MR points = 1 Skywards Mile |
3 MR points = 2 Marriott points | No change |
1 MR point = 1 Hilton Honors point | 2 MR points = 1 Hilton Honors point |
13,500 MR points = $100 gift card | 20,000 MR points = $100 gift card |
10,000 MR points = $100 at American Express Travel | 10,000 MR points = $50 at American Express Travel |
Select + Pay with points: 1,000 MR points = $7 credit | Select + Pay with points: 1,000 MR points = $5 credit |
Points for credit: From 8,000 MR points = $50 | Points for credit: From 8,000 MR points = $40 |
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.
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger.
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