American Express cards typically come with a number of cardholder perks that may go unnoticed. For example, many of the company’s rewards credit cards offer an array of travel and shopping protections. These can include a $0 fraud liability policy, purchase protections and an airline travel center that allows you to book flights and hotels directly. Some Amex cards also offer targeted Amex Offers, which can provide extra points or discounts when you use your card at a select retailer.
The value of American Express rewards
Depending on how you redeem your Membership Rewards points, they can be worth up to 1 cent apiece. You can cash in your rewards through the Amex Travel portal, which lets you redeem for flights, prepaid hotels and car rentals. You can also get more value per point by transferring your points to partners such as airlines and hotels.
Some cardholders choose to use their Amex rewards for gift cards, which usually have a value of 0.5 to 1 cent apiece. You can also redeem your points for a statement credit that covers a purchase at a rate of 0.6 cents a point, though this option has some restrictions and doesn’t work for all charges.
If you’re considering an Amex rewards card, consider your ability to make use of the card’s benefits and your willingness to pay the annual fee. Many top American Express cards carry annual fees that can exceed $700. Some of the company’s cards offer impressive earning rates in some spending categories, but if you’re not willing to pay a premium card’s annual fee, your rewards will be wasted.