Step-by-Step: How I Always Redeem Amex Points for 3 Cents Each

If you’ve spent any time in the points and miles world, chances are you already carry a card that earns American Express Membership Rewards points.

Widely regarded as one of the most flexible and valuable rewards currencies available, I earn them via the Platinum Card^® from American Express and the American Express^® Gold Card. By using these cards and maximizing my spending, I earn rewards that can be redeemed for significant value.

Here’s the exact formula I use to calculate cents-per-point values, along with examples where I consistently exceed the 3 cents-per-point threshold.

Step 1: Understand the Cents-per-Point (CPP) Formula

When it comes to points and miles, the best way to determine whether a redemption is worthwhile is to calculate the cents-per-point value. This relatively simple metric helps you compare the value you’re getting from a points redemption against the cash price of the same travel purchase.

Fortunately, calculating the cents-per-point value for an award redemption is easy. To do so, subtract any taxes and fees you would need to pay on an award ticket from the cash price of the flight or hotel. (This is because you’d still have to pay those taxes and fees even when booking with points.)

Then divide that number by the total number of points required and multiply the result by 100 to convert it into cents.

For example, consider a round-trip economy flight between Chicago (ORD) and New York (JFK) that can be booked for $296 or 16,000 miles plus $25 in taxes and fees. Here’s how you would calculate the cents-per-point formula:

• Subtract $25 from $295
• Divide the result ($265) by 16,000 points
• Multiply the result (0.01656) by 100 to get 1.66 cents per point

The result shows the true value you’re getting from your points and can help you decide whether it’s better to redeem points or simply pay in cash.

Step 2: Understand the Baseline Value of Amex Points

Although calculating high-value redemptions with your American Express Membership Rewards points is important, it is equally important to understand the baseline value of those points.

Amex Membership Rewards points are among the most valuable transferable currencies available. We value them at 2.2 cents per point, the highest of any single rewards currency.

The value you get, however, depends entirely on how you redeem your points.

Although Amex Membership Rewards points can be used for statement credits, gift cards, shopping, or travel bookings through AmexTravel.com, the highest-value redemptions almost always come from transferring points to airline and hotel partners.

Step 3: Avoid Common CPP Mistakes

Although cents-per-point valuations are important to ensure you’re getting great value from your points, it is important to look at common pitfalls.

First and foremost, many people tend to inflate their point values. This is extremely common with one-way redemptions, which are often priced at more than half a round-trip award.

For example, a round-trip business class itinerary between the U.S. and Europe may cost upward of $3,000. However, one-way business-class awards can cost upward of $2,000 for the exact same flight.

In other instances, many travelers get too wrapped up in the cents-per-point valuation and forget to consider the full retail cash price of a ticket, which can be exorbitant for business-class redemptions. Most travelers, myself included, would never actually pay the full retail cash price.

For example, you might see a flight for $7,855 and home in on the cents-per-point value of 15.7, which sounds fantastic. But would you ever actually consider paying $7,000 or more for that ticket? Surge pricing on airfare means ticket prices can sometimes greatly exceed what you’d normally pay, skewing the cents-per-point equation and giving you an equally inflated sense of the value of a redemption.

In cases like these, it’s important to ask yourself what you’d really, honestly, pay in cash for that flight. Instead of nearly $8,000, for example, I might say I’d reasonably pay up to about $3,000 for that ticket. In the end, will you walk away saying to yourself, “That was a very expensive thing I paid very little for, but it wasn’t something I actually wanted or needed”?

My Best Amex Redemptions Over 3 Cents per Point

I earn my Amex points mostly from spending on the Amex Platinum card and the Amex Gold card. When it comes time to redeem them, I leverage one of the members of Amex’s extensive list of airline and hotel transfer partners.

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Platinum Card^® from American Express

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The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

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Platinum Card^® from American Express

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

Welcome Offer

You may be eligible for as high as 175,000 Membership Rewards^® points after you spend $12,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.  

As High As 175,000 Points. Find Out Your Offer.

UP's Offer Valuation*:

Up to $3,850

Annual Fee

$895

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Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Good to Excellent

Why We Like This Card

When it comes to cards that offer top-notch benefits, you’d be hard-pressed to find a better card out there than the Platinum Card^® from American Express.

Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.

 

 

Pros & Cons

Pros

• The best airport lounge access out of any card (by far) — enjoy access to over 1,550 worldwide lounges, including the luxurious Amex Centurion Lounges, Priority Pass lounges (enrollment required), Plaza Premium Lounges, and many more!
• 5x points per dollar spent on flights purchased directly with the airline or with AmexTravel.com (up to $500,000 per year)
• 5x points per dollar spent on prepaid hotels booked with AmexTravel.com
• Annual and monthly statement credits upon enrollment (airline credit, Uber Cash and Uber One, Resy, lululemon credit, streaming credit, prepaid hotel credit on eligible stays, Walmart+ credit, CLEAR+ credit, and Equinox credit)
• TSA PreCheck or Global Entry credit
• Access to American Express Fine Hotels and Resorts and Amex International Airline Program
• Access to Amex transfer partners
• No foreign transaction fees (rates and fees)

 

Cons

• $895 annual fee (rates and fees)
• Airline credit does not cover airfare (only incidentals like checked bags)

 

 

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Card Highlights

• You may be eligible for as high as 175,000 Membership Rewards^® points after you spend $12,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
• Get more for your travels with 5X Membership Rewards^® points on all flights and prepaid hotel bookings through American Express Travel^®, including Fine Hotels + Resorts^® and The Hotel Collection bookings. You earn 5X points on flights purchased directly from airlines or through American Express Travel^® on up to $500,000 on these purchases per calendar year.
• With over 1,550 airport lounges - more than any other credit card company on the market* - enjoy the benefits of the Global Lounge Collection^®, over $850 of annual value, with access to Centurion Lounges, 10 complimentary Delta Sky Club^® visits when flying on an eligible Delta flight (subject to visit limitations), Priority Pass Select membership (enrollment required), and other select partner lounges.* As of 07/2025.
• $200 Uber Cash + $120 Uber One Credit: With the Platinum Card^® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card^® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card^® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
• $300 Digital Entertainment Credit: Experience the latest shows, news and recipes. Get up to $25 in statement credits each month when you use your Platinum Card^® for eligible purchases on Disney+, a Disney+ bundle, ESPN streaming services, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV when you purchase directly from one or more of the providers. Enrollment required.
• $600 Hotel Credit: Get up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts^® or The Hotel Collection* bookings through American Express Travel^® using the Platinum Card^®. *The Hotel Collection requires a minimum two-night stay.
• $400 Resy Credit + Platinum Nights by Resy: Get up to $100 in statement credits each quarter when you use the Platinum Card^® to make eligible purchases with Resy, including dining purchases at U.S. Resy restaurants. Enrollment required. Plus, with Platinum Nights by Resy, you can get special access to reservations on select nights at participating in demand Resy restaurants with the Platinum Card^®. Simply add your eligible Card to your Resy profile to book and discover Platinum Nights reservations near you.
• $209 CLEAR+ Credit: CLEAR+ helps get you to your gate faster by using your face to verify you are you at 55+ airports nationwide. You can cover the cost of a CLEAR+ Membership* with up to $209 in statement credits per calendar year after you pay for CLEAR+ with your Platinum Card^®. *Excluding any applicable taxes and fees. Subject to auto-renewal.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to the Platinum Card^® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
• Start your vacation sooner, and keep it going longer. When you book Fine Hotels + Resorts^® through American Express Travel^®, enjoy noon check-in, when available, and guaranteed 4PM check-out.
• $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card^® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That’s up to $300 in statement credits each calendar year. Enrollment required.
• $155 Walmart+ Credit: Receive a statement credit* for one monthly Walmart+ membership (subject to auto-renewal) after you pay for Walmart+ each month with the Platinum Card^®.* Up to $12.95 plus applicable local sales tax. Plus Ups not eligible.
• Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
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• Foreign Transaction Fees: None

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Hot Tip: Apply and find out if you’re eligible for a welcome bonus offer of as high as 175,000 points with the Amex Platinum. Welcome offers may vary and you may not be eligible for an offer.

 

 

BEST FOR DINING

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American Express^® Gold Card

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The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

This is the best card for food lovers who dine out at restaurants (worldwide), order take-out and want big rewards at U.S. supermarkets!

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American Express^® Gold Card

This is the best card for food lovers who dine out at restaurants (worldwide), order take-out and want big rewards at U.S. supermarkets!

Welcome Offer

You may be eligible for as high as 100,000 Membership Rewards^® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.

As High As 100,000 Points. Find Out Your Offer.

UP's Offer Valuation*:

Up to $2,200

Annual Fee

$325

APR

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Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Good to Excellent

Why We Like This Card

The American Express^® Gold Card is a game-changer.

With this card, you can earn 4x Membership Rewards points at restaurants, up to $50,000 per calendar year, and you’ll also earn 4x Membership Rewards points at U.S. supermarkets on up to $25,000 per calendar year, then 1x.

There isn’t another card on the market that offers a 1-2 punch like this. Of course, there are several other benefits of the Gold Card as well, including extra monthly dining rewards and more.

Pros & Cons

Pros

• 4x points per dollar at restaurants worldwide, up to $50,000 per calendar year; then 1x thereafter
• 4x points per dollar at U.S. supermarkets, up to $25,000 per calendar year; then 1x thereafter
• 3x points per dollar on flights purchased directly from airlines or at AmexTravel.com

Cons

• $325 annual fee (rates and fees)
• No lounge access

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Card Highlights

• You may be eligible for as high as 100,000 Membership Rewards^® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
• Earn 4X Membership Rewards^® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
• Earn 4X Membership Rewards^® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
• Earn 3X Membership Rewards^® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
• Earn 2X Membership Rewards^® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
• Earn 1X Membership Rewards^® point per dollar spent on all other eligible purchases.
• $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards^® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
• $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express^® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
• $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express^® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
• $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express^® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
• Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
• No Foreign Transaction Fees.
• Annual Fee is $325.
• Terms Apply.

Financial Snapshot

• APR: See Pay Over Time APR
• Foreign Transaction Fees: None

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American Express Membership Rewards

Hot Tip: Apply and find out if you’re eligible for a welcome bonus offer as high as 100,000 points with the Amex Gold card. Welcome offers may vary and you may not be eligible for an offer.

Of course, some partners provide more value than others. Still, this remains the only way I use my Amex Membership Rewards points.

1. Air France Business Class to Europe

Flying Blue, the loyalty program of Air France-KLM, is an excellent award program with plenty of sweet spots, and it’s a transfer partner of Amex Membership Rewards. Both carriers are members of the SkyTeam alliance, which includes airlines such as Delta Air Lines and Virgin Atlantic.

The loyalty program offers many perks, including monthly Promo Rewards, where Flying Blue members can redeem award miles for select flights at up to 50% off standard pricing. These can offer incredible value — earlier this year, I flew round-trip business class to Europe for just 70,000 miles by utilizing a Promo Reward.

Although the program uses dynamic pricing, meaning award costs fluctuate based on route and demand, it also offers standardized saver award fares. One of these rates applies to business class flights between the U.S. and Europe.

One-way business class flights between North America and Europe can be booked for just 60,000 miles plus taxes and fees. Best of all, award space tends to be solid, especially if you have flexibility in your schedule.

Best of all, the exact Air France business class seat was selling for roughly $3,000, netting me about 4.6 cents per point.

2. EVA Air Business Class to the U.S.

Air Canada Aeroplan is another fantastic Amex Membership Rewards transfer and my favorite airline loyalty program.

The program has a large number of airline partners, allows for numerous ways to redeem Aeroplan points, permits stopovers for just 5,000 Aeroplan points, and does not pass along fuel surcharges for partner redemptions.

Although the program uses dynamic pricing for its own flights, it has a zone-based award chart for certain partner redemptions. Award pricing depends on the the total mileage flown between zones.

You can book a one-way business class award on EVA Air, widely regarded as one of the best airlines in the world, between Taipei (TPE) and Los Angeles (LAX) for 75,000 Aeroplan points and $85 in taxes and fees.

This is a relatively expensive business class seat, which routinely sells for upward of $3,000. This specific redemption netted me roughly 4.1 cents per point.

3. Economy Flights Between the U.S. and Europe

Fortunately, you don’t need to book business class seats to get higher cents-per-point valuations. While it is true that you typically get the highest redemption values from flights in premium cabins, you can also get high values from economy flights.

This is typically quite easy to achieve during peak travel season, when cash rates are higher than normal, or through certain loyalty programs. One such program is Virgin Atlantic Flying Club.

The program has terrific rates, particularly for award redemptions to Europe in economy. For example, you can book round-trip flights between Washington (IAD) and London (LHR) for 12,000 miles and $453 in taxes and fees.

While the taxes and fees may seem outrageously high (they are), the required points are so low that it almost entirely makes up for it.

Best of all, round-trip flights between the U.S. and Europe can sell for upward of $800. For this redemption, I got 3.23 cents per point — fantastic value from my Amex Membership Rewards points.

Final Thoughts

American Express Membership Rewards points are incredibly valuable, particularly when one learns how to redeem them effectively. The main reason is the flexibility of the points — they can be transferred to many travel partners, often giving far higher value than simple cash redemption.

With a little bit of strategy, it is possible to get over 3 cents per point. Although this is relatively easy to attain for business class flights, it is also possible to do so in economy.