Redeeming AMEX Points: How to Get Up to 4 Cents per Point (2026)

Quick answer: The best AMEX transfer partners are British Airways Avios, Iberia, Flying Blue and SAS (5:4 ratio each). Avoid Emirates (2:1 = 50% loss) and cashback (only 0.5 cents/point). With Business Class redemptions you can reach 1.5-4 cents per point. Important: AMEX MR CANNOT be transferred to Miles & More.

AMEX Membership Rewards (MR) is one of the most flexible rewards points programs in Germany. But many cardholders don’t use their points optimally - or make mistakes that can cost hundreds of euros.

In this guide you’ll learn how to get the maximum value out of your AMEX points.

What Are AMEX Membership Rewards?

AMEX Membership Rewards is the rewards program from American Express. You earn points through card spend - on most AMEX cards 1 point per euro of spend, with the optional Punkteturbo (€15/year) even 1.5 points per euro on all purchases.

Important to understand: MR points are NOT airline miles. They’re their own currency that you can transfer to various airline partners.

Which AMEX cards earn MR points? Not every AMEX card earns Membership Rewards. The most important MR cards with their current welcome bonus:

• AMEX Platinum Business* - 200,000 MR welcome bonus
• AMEX Platinum Personal* - 85,000 MR welcome bonus
• AMEX Business Gold* - 75,000 MR welcome bonus
• AMEX Gold Personal* - 50,000 MR welcome bonus

More on this: All credit cards with a welcome bonus 2026

The Transfer Partners at a Glance

AMEX MR can be transferred to the following partners in Germany (as of 2026, after the August 2025 changes):

Partner	Transfer Ratio	Program	Recommendation
British Airways	5:4 (5 MR = 4 Avios)	Executive Club	⭐ Very good
Iberia	5:4 (5 MR = 4 Avios)	Iberia Plus	⭐ Very good
Air France/KLM	5:4 (5 MR = 4 miles)	Flying Blue	⭐ Very good
SAS	5:4 (5 MR = 4 points)	EuroBonus	⭐ Very good
Singapore Airlines	3:2 (3 MR = 2 miles)	KrisFlyer	Good
Cathay Pacific	3:2 (3 MR = 2 miles)	Asia Miles	Limited
Delta	3:2 (3 MR = 2 miles)	SkyMiles	Limited
Etihad	3:2 (3 MR = 2 miles)	Etihad Guest	Limited
Qatar Airways	3:2 (3 MR = 2 Avios)	Privilege Club	Limited
Emirates	2:1 (2 MR = 1 mile)	Skywards	⚠️ Not recommended
Hilton	1:1 (1 MR = 1 point)	Hilton Honors	Hotel focus only
Marriott	3:2 (3 MR = 2 points)	Marriott Bonvoy	Limited
Radisson	1:2 (1 MR = 2 points)	Radisson Rewards	Hotel focus only

Important: Since August 2025, the transfer rates to Singapore Airlines, Delta, Cathay Pacific, Etihad, Qatar and Emirates have been significantly worsened. British Airways, Iberia, Flying Blue and SAS remain the best options at 5:4.

Good to know: The US version of Membership Rewards has different (usually better) transfer rates and more partners — you’ll find the full comparison in the guide AMEX MR: US vs. Germany Transfer Partners.

Which Transfer Is Worth the Most?

The rule of thumb: Transfer to airlines, not to hotels.

With hotels you get significantly less value. A Hilton point is worth about 0.4 cents, while an AMEX MR point can be worth over 1.5 cents with airlines.

The Best Transfer Options

1. British Airways Avios - Excellent for short-haul flights within Europe
2. Singapore Airlines KrisFlyer - A good partner for Business/First Class to Asia (only 3:2 since Aug 2025)
3. Air France/KLM Flying Blue - Often cheap award flights, monthly Promo Awards

What You Should Avoid

• Marriott Bonvoy - The 3:2 ratio is mediocre, you lose 33% of the value
• Direct redemption for travel - AMEX also offers direct bookings, but the value per point is significantly worse than with transfers

How to Calculate the Value of Your Points

The formula is simple:

Point value = (ticket price in euros) / (points required) × 100

Example: A Business Class flight costs €3,000 in cash or 85,000 Avios + €400 in taxes.

• Savings: €3,000 - €400 = €2,600
• Required: 85,000 Avios (= 106,250 MR at a 5:4 transfer)
• Value per MR: €2,600 / 106,250 = 2.4 cents per point

A value over 1 cent is good, over 1.5 cents is very good, over 2 cents is excellent.

Common Mistakes When Redeeming

Mistake 1: Transferring Without a Specific Flight

Only transfer MR points once you’ve already found an available award flight. The transfer sometimes takes 24-48 hours - and the flight can be gone by then.

Mistake 2: Assuming MR Can Be Transferred to Miles & More

This is not possible. AMEX MR and Miles & More are completely separate systems with no transfer option. If you want to earn Miles & More miles, you need a Miles & More credit card.

More on this: AMEX Membership Rewards to Miles & More - Is It Possible? | Miles & More vs AMEX Comparison

Mistake 3: Closing the Card Without Transferring Points

AMEX MR have no expiration date - unlike PAYBACK points or Miles & More miles (which expire after 36 months without activity). But: When you close your AMEX card, all points expire immediately. Transfer them to an airline partner beforehand.

Step-by-Step Guide

1. Find an award flight - Use the partner website to check availability
2. Calculate points - How many MR do you need after the transfer?
3. Check the value - Is the transfer worth it? (Target: over 1 cent per point)
4. Make the transfer - Through the AMEX online portal
5. Book the flight - As soon as the points have arrived

For Which Flights Is the Transfer Worth It?

AMEX MR points unlock their full value with premium cabins - Business Class and First Class. With Economy flights the value per point is often under 1 cent.

More on this: Booking Business Class with miles: How it works

[TIP] What does your dream flight cost in miles? Our Miles Calculator calculates the miles needed for specific routes — with real M&M prices and all AMEX transfer partners compared.

Frequently Asked Questions (FAQ)

Can I transfer AMEX points to Miles & More?

No, that’s not possible. AMEX MR and Miles & More are completely separate systems. For M&M miles you need a Miles & More credit card.

Which transfer partner is the best?

British Airways, Iberia, Flying Blue and SAS are the best options (5:4 ratio). Singapore Airlines is still good at 3:2. Avoid Emirates (2:1) - there you lose 50% of your points.

Do my AMEX points expire?

No - unlike PAYBACK points or Miles & More miles, there is no 36-month expiration limit on AMEX MR. Your points remain valid indefinitely as long as you have an active AMEX MR card.

When you close the card, all points expire immediately - transfer them to an airline partner beforehand. After the transfer, the rules of the partner program apply.

Tip for PAYBACK/M&M users: There, the 36-month limit applies - but with the free PAYBACK AMEX* or a Miles & More credit card you protect yourself automatically - every card transaction counts as activity.

How long does the transfer take?

Usually 24-48 hours. So only transfer once you’ve found an available award flight.

Is the transfer to hotels worth it?

Usually not. With airlines you get 1.5-4 cents per point, with hotels only 0.3-0.5 cents. Only transfer to airlines.

Conclusion: Time to Start Earning?

AMEX Membership Rewards are a powerful tool for frequent flyers - but only if you use them right. Transferring to airlines is almost always better than redeeming for hotels or direct bookings.

The most important point: MR points are flexible and don’t expire as long as you have an AMEX card. Take your time to find the optimal redemption.

Don’t have an AMEX MR card yet? The best way in is the AMEX Platinum Business* with a 200,000 MR welcome bonus - that’s already enough points for a Business Class flight to Asia.

---

This article covers the basics. In the Premium Handbook you’ll find detailed strategies for every transfer partner, including the best routes and sweet spots.

Further reading:

• Earning Miles: The 7 Best Methods 2026 - How to fill your MR account the fastest
• AMEX MR: US vs. Germany Transfer Partners - Why US collectors get better rates
• Booking Business Class with Miles - Step by step to the award flight