By Bryce Casson, Founder · Cardocrat · Updated June 2026
The short answer: American Express Pay With Points at checkout, including using points on Amazon or for charges, typically values Membership Rewards around 0.7 cents each, one of the worst uses of an otherwise excellent currency. Those same points transfer to airline and hotel partners for several times that value.
The 0.7-cent problem
Amex Pay With Points and similar checkout redemptions value Membership Rewards at roughly 0.7 cents each, sometimes a touch more or less. Membership Rewards is one of the most valuable transferable currencies, with deep airline and hotel partners, so cashing it out at 0.7 cents is among the worst things you can do with it. See what points are worth.
What the points could do
Transferred to partners like ANA, Virgin Atlantic, or Flying Blue, Membership Rewards can return several cents per point on premium-cabin awards. Even a modest hotel transfer beats 0.7 cents. The checkout convenience costs you most of the value. See transferable points explained.
What to do instead
Hold Membership Rewards for transfers, and pay for online purchases with the card itself to earn more points, not by burning points at a fraction of a cent. If you want to offset a charge cheaply, use a fixed-value cash-back card instead. See Amex Membership Rewards guide.
Frequently asked questions
How much are Amex points worth with Pay With Points?
About 0.7 cents each at checkout, including on Amazon and for charges. That is far below their value transferred to airline and hotel partners, which can reach several cents per point.
Is Amex Pay With Points a good deal?
No, it is one of the worst uses of Membership Rewards, valuing them around 0.7 cents. Transfer the points to a travel partner instead for several times that value.
How should I use Amex Membership Rewards?
Transfer them to airline and hotel partners for high-value awards. Pay for purchases with the card to earn more points rather than spending points at a fraction of a cent at checkout.
Bryce Casson, Founder of Cardocrat. Every card is ranked by what it actually returns, with all points valued at a flat 1 cent and offers verified against issuer sources. About the author.
