Amex Membership Rewards® Points 101: Your Guide To Earning and Redeeming 

The American Express^® Membership Rewards^® program is, in our opinion, the most versatile and (dare we say it) rewarding loyalty Card program in Australia. Designed to offer eligible Card Members a huge range of earning and redemption options, the program allows you to earn Membership Rewards points on everyday spending¹, and redeem them on almost anything, from flights & hotels², to Cover Charges with Points³ and Gift Cards⁴.

Whether you’re a points geek like the team here at Boss Hunting, someone who enjoys the finer things in life, or just a savvy shopper who likes to get a little something back from your everyday spend, there’s something for everyone.

Jump To:

• Membership Rewards In A Nutshell
  • How Do I Earn Membership Rewards Points?
  • How Membership Rewards Points Work
  • Valuing Membership Rewards Points
  • Maximizing Your Membership Rewards Points
  • Example Redemptions

Membership Rewards In A Nutshell

Simply put, Membership Rewards is the loyalty program of American Express and is the company’s way of rewarding Card Members for their continued use of American Express cards. These points are accrued through various spending activities and can be redeemed for a range of different rewards. The program is designed to provide flexibility and value, catering to a wide range of Card Members with different spending habits and lifestyle needs.

How Do I Earn Membership Rewards Points?

1. Everyday Spending: Points are earned on almost every purchase made with an eligible American Express Card that is enrolled into the Membership Rewards program¹. The number of points you earn per dollar spent can vary depending on the Card and the type of purchase. For instance, some cards offer higher points per dollar spent on categories like groceries, dining, and travel.
2. Welcome Bonuses: Many American Express Cards come with substantial welcome bonuses for new Card Members to American Express who meet a minimum spend requirement within the first few months of Card ownership⁵. These bonuses can significantly boost your points balance right from the start and give you a very tasty entree into the fun part – redeeming points.
3. Referral Bonuses: American Express rewards Card Members for referring friends¹⁰ and family who successfully apply for an American Express card (and your friends could get a bonus too). This can be a lucrative way to increase your points balance.
4. Special Promotions: American Express frequently runs promotions that offer bonus points for spending in specific categories or with certain retailers via Amex Offers⁶. Keeping an eye on these promotions in your American Express dashboard can help you maximize your points-earning potential.

If you want to learn which card is right for you, check out our article on that very topic here.

How Membership Rewards Points Work

Membership Rewards points are incredibly versatile and can be redeemed in numerous ways. The value of points can vary significantly depending on the redemption method. Below are four of the most common ways to use your points. We go much deeper into some of the best redemption options available over here.

1. Travel: One of the most popular and valuable ways to redeem points is by transferring them to airline and hotel loyalty programs². American Express partners with a number of airlines, including Virgin Australia, Singapore Airlines, and Qatar Airlines – as well as hotel chains like Hilton Honors and Marriott Bonvoy. This method often provides the highest value per point, especially for premium cabin flights and luxury hotel stays.
2. Gift Cards⁴: Points can be exchanged for Gift Cards from a wide range of retailers, including Amazon, JB Hi-Fi, and Myer. This provides a straightforward and flexible way to use points for everyday purchases or special gifts.
3. Statement Credits: Points can be used to offset your credit card balance⁹. This is a simple and direct way to see the cash value of your points, though it typically offers a lower value per point compared to travel redemptions.
4. Experiences: American Express offers unique experiences that can be redeemed with points, such as VIP event tickets, exclusive dining experiences, and more. These options provide memorable ways to use your points.

Valuing Membership Rewards Points

The value of Membership Rewards points can vary based on the redemption method chosen. Here’s a breakdown of typical values. If you want to learn more on this, check out our deep dive into how much a Membership Reward point is worth. 

1. Flights & Hotels: Generally, transferring points to airline and hotel partners² yields the highest value. For example, booking a premium cabin flight or a luxury hotel stay can provide significant value compared to other redemption options.
2. Gift Cards: While not as high as travel redemptions, this method provides flexibility and ease of use.
3. Cover Charges with Points: Using points for statement credits³ is a convenient option for direct savings on your bill.
4. Online Shopping & Pay with Points⁷: These options generally provide around convenience but often offer lower value compared to other methods.

Maximizing Your Membership Rewards Points

The value you get out of your Membership Rewards points will vary based on your personal preferences and where you see value. Having said that, to get the most out of Membership Rewards, it’s worth considering the following strategies:

1. Transfer to Travel Partners: For the highest value, transfer your points to airline and hotel partners. This is particularly true for premium cabin flight redemptions and luxury hotel stays.
2. Monitor Promotions: Keep an eye out for special promotions that offer Bonus Points or enhanced redemption rates. These promotions can significantly boost the value you get from your points.
3. Use Welcome Bonuses: Take advantage of welcome bonuses when applying for new American Express Card if you are a new American Express Card Member. These bonuses can provide a substantial boost to your points balance. Note that you are only eligible for welcome bonuses if you have not held an American Express Card in the past 18 months (business or consumer).
4. Strategic Spending: Use your American Express Card for purchases that offer higher points per dollar spent, such as groceries, dining, and travel depending on the earn rate categories of your American Express Card. This can help you accumulate points more quickly.
5. Referral Bonuses: Refer friends and family to American Express cards to earn referral bonuses. This can be an easy and effective way to increase your points balance.

Example Redemptions

Hopefully you’re beginning to understand the ins-and-outs of Membership Rewards by now. To give you one last illustration of the potential value of Membership Rewards points, here are some example redemptions:

1. Flights with Velocity Frequent Flyer: Transferring 100,000 Membership Rewards points to 50,000 Velocity Points can get you a one-way business class flight from Sydney to Denpasar (Bali), which costs 49,500 Velocity Points plus fees and taxes¹¹. Membership Rewards points transfer to Velocity Frequent Flyer at a 2:1 ratio.
2. Flights with Singapore Airlines: Converting 100,000 Membership Rewards points to 33,333 KrisFlyer Miles is enough for an upgrade from flexible-economy to premium economy on a one-way flight from Melbourne to Singapore (22,500 KrisFlyer Miles)¹². Membership Rewards points transfer to Singapore Airlines KrisFlyer at a 3:1 ratio
3. Amex Partner Travel Bookings: Booking travel through partners like Webjet or Helloworld⁸ with Membership Rewards points provides straightforward value. As an example, you can redeem 20,000 for $100.
4. Gift Cards: Redeeming 100,000 points for $500 in Gift Cards⁴ from various retailers like JB Hi-Fi or Amazon offers easy and practical value. Redemption rates vary for different retailers. 
5. Points for Credit : Using 100,000 points to offset $500 of your Credit Card balance⁹ is a simple and direct way to see cash value from your points.

By now you can see the flexibility and value of the Membership Rewards program. Whether you prefer to use your points for travel, shopping, statement credits, or unique experiences, the program offers numerous ways to maximise the value of your points. By understanding how to earn and redeem points effectively, you can make the most of your Membership Rewards and enjoy the benefits of your American Express card.

This article is sponsored by American Express. Thank you for supporting the brands that support Boss Hunting.

Terms & Conditions

Subject to Terms and Conditions. Fees and charges apply. All information is correct as of 14/3/2025 and is subject to change. Cards are offered, issued, and administered by American Express Australia Limited (ABN 92 108 952 085). American Express income and credit approval criteria applies. ^®Registered Trademark of American Express Company.

1. Membership Rewards Program
   Subject to the Terms and Conditions of the Membership Rewards program available here. You will earn 1 point per dollar spent with Merchants classified as ‘government’, including the Australian Taxation Office, the Australian Postal Corporation (Australia Post), Federal/State and Local Government bodies, including where you use a payment account, payment aggregator, services of a third party or online retailers that sell goods for another merchant.
2. Redeem Membership Rewards Points
   Subject to the Terms and Conditions of the Membership Rewards program available here. To transfer Membership Rewards points into an airline rewards or frequent guest partner program you must be a member of the partner program. Membership of the partner program is the Card Member’s responsibility and is subject to the Terms and Conditions of the applicable program. A joining fee may apply.
3. Cover Charges with Points
   Minimum of 1,000 points required. Any credit to your Card Account cannot exceed the current outstanding balance on your Account. Points will be debited immediately and credit will take up to three business days to appear on your online statement. For more information and full terms and conditions, click here.
4. Gift Cards
   Gift Card or voucher rewards are not redeemable or exchangeable for cash or credit and are valid for a period of minimum 3 years from the date of issue, unless otherwise stated. We are not responsible if any Gift Card is lost, stolen, or destroyed, or the Gift Card is used without your permission. Membership Reward terms and conditions apply. Normal retailer gift card or voucher conditions apply, refer to the gift card or retailer website for details.
5. If you are an existing David Jones Card Member and don’t hold or have not held any other American Express Card(s) in the past 18 months, you will be eligible for the welcome offer. All other Card Members who currently hold or who have previously held any Card product issued by American Express Australia Limited in the past 18 months are ineligible for welcome offers. Welcome Bonuses are subject to change at any time. Minimum spend criteria applies. Terms and Conditions apply. 
6. Amex Offers
   The following are not Eligible Cards: Business Cards that are affiliated with a wholesale partner, American Express Business Travel Accounts, Government Cards, Corporate Purchasing Cards, Corporate Meeting Cards, Corporate Cards and the David Jones Storecard. To view Amex Offers, simply log into your Online Account or the American Express Mobile App. The account must being in good standing to be eligible for offers.
7. Shop With Points at eligible merchants
   You can Shop with points for a Credit online if you are the Primary Card Member of an eligible American Express Card issued by American Express Australia Limited; your Card is enrolled in an eligible Membership Rewards program; and your Card Account is in good standing (i.e., not overdue or in collections). Additional or Employee Card Members, Card Members enrolled in Qantas or Velocity Direct program, Business Ascent program or Business Card Members with spend locked to one supplier or Card Members who hold a David Jones Storecard are not eligible to use Shop with points at our eligible merchants. The minimum redemption value is 1,000 Membership Rewards points. The full transaction amount will be charged and appear on your account and the credit will appear within 2-4 business days of the charge. The credit may not appear on the same statement as the full charge. In this case, you must still pay the amount due on your statement, and the credit will apply to charges on your next statement. For full terms and conditions click here.
8. Helloword Travel and Webjet
   Minimum redemption amounts apply. You can redeem points for prepaid travel of a nominated value through Webjet.com.au and helloworld with the point-of-purchase redemption capability. Travel bookings using points may be booked for any person, provided all your accounts are kept in good standing and are not overdue. Subject to the Membership Rewards Terms and Conditions and the partners’ booking terms and conditions.
9. Points for Credit
   The redemption of Points for a credit to your Card (Points for Credit) will be administered by us within three business days and cannot be reversed. Amounts credited will appear on the first monthly statement following redemption. If you hold multiple Cards linked to the one Membership Rewards Account, the Points for Credit redemption will automatically be credited to the Primary Account only. Points may be redeemed by the Card Member for a credit on the Primary Card Account. American Express may decline a Points for Credit request where the Card Account or Card Member’s other accounts with American Express are not in good standing.
10. Refer a Friend
    American Express credit approval criteria apply. Participation in the “Refer A Friend” program is subject to eligibility deemed by American Express. All information is correct as at 15 January 2025 and is subject to change. American Express Australia Limited (ABN 92 108 952 085). American Express Consumer Credit Cards are offered, issued and administered under Australian Credit Licence No 291313. ® Registered Trademark of American Express Company. Don’t Spam! American Express discourages spamming. You should only send referral messages to friends and family who genuinely want to receive them. By participating in ‘Refer a Friend’, you agree to these terms and conditions:
    • Friend: For the purpose of these terms and conditions, the term ‘friend’ means:
      • For American Express Consumer Card referrals, individuals that are your friends, family or close associates; and
      • For American Express Business Card referrals, entities that are known to you including companies, partnerships and sole proprietors that hold an active Australian Business Number (ABN).
      • For the avoidance of doubt, if you already have an American Express Card, you are prohibited from referring yourself for any American Express Card.
    • Only Friends & Family: You must only send referral messages to close friends and family.
    • Ask Their Permission First: You must ask the person for their permission and be given consent to send them an email about your Card product. Sending emails to people without permission is considered spam.
    • We encourage fair usage of this referral program and so limit the number of individuals who can apply using your referral link. This is capped at 25 in any 30-day period. The amount of Membership Rewards Points you may receive under the ‘Refer a Friend’ program is capped at 200,000 points per year.
11. Velocity Points
    A minimum of 2,000 Membership Rewards points must be redeemed for Velocity Points at any one time and must be in increments of 2 Membership Rewards points and must be in whole numbers. For full details on points transfers, including eligibility criteria, minimum points transfer requirements, applicable conversion rate see the American Express Membership Rewards Program Terms and Conditions . The earning and redemption of Membership Rewards points is subject to the Terms and Conditions of the American Express Membership Rewards Program. The redemption of Membership Rewards points will be administered solely by American Express and will take up to 1 business day to transfer into your Velocity Account and is subject to the Terms and Conditions of the American Express Membership Rewards Program in which you are enrolled. Once the Membership Rewards points have been redeemed for Velocity Points, they are governed by the Velocity membership Terms and Conditions and cannot be reversed. Transferred Velocity Points will take up to 1 business day to be available in your Velocity Account. Please note that once points have been transferred out of Membership Rewards to your Velocity Frequent Flyer Account it is not possible to have this reversed back into your Membership Rewards Account as outlined in the Terms and Conditions. To earn and redeem Velocity Points you must be a Velocity member. Velocity membership and Points earn and redemption are subject to the Velocity membership Terms and Conditions, as amended from time to time.
12. Singapore Airlines Kris Flyer
    Participation in KrisFlyer program is subject to the Terms and Conditions of the Singapore Airlines’ KrisFlyer program. Full details can be found at krisflyer.com . Under the Membership Rewards Ascent or Ascent Premium program a minimum of 7,500 Membership Rewards points may be redeemed for KrisFlyer miles at any one time and must be in whole numbers. Once Membership Rewards points have been transferred to the KrisFlyer program, they are governed by the Terms and Conditions of the Singapore Airlines KrisFlyer program. The transfer of points will take up to 1 business day to transfer into your KrisFlyer account. Available to Australian Membership Rewards Ascent or Ascent Premium members and Australian resident members of KrisFlyer at time of redemption. Seats are subject to availability. Please check availability before transferring your points.