Points Frog guide
Is your American Express Membership Rewards award a good deal?
Enter the cash price and the points an award costs. See what each is worth on it and whether using them beats paying cash.
The same booking, paid in cash.
What the award costs.
Cash still due on the award.
Fair deal
2.14¢each
2% more than the usual 2.1¢. The award saves $450; at the usual value the points are worth $441, so using points comes out $9.00 ahead.
- Great deal at up to
- 17,857
- Breaks even at
- 21,428
- Poor deal above
- 23,809
Set against a typical redemption value of 2.1 US cents each: 20% or more above it is a great deal, more than 10% below it a poor one.
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<script async src="https://www.pointsfrog.com/embed.js"></script>The short answer
Using American Express Membership Rewards points on an award is a good deal when it saves you 2.52¢ or more in cash for each one: 20% above the 2.1¢ Points Frog values them at. Under 1.89¢ each it is a poor deal, and paying cash keeps the points for a better award. An award that saves $500 is a great deal at up to 19,841 points, breaks even at 23,809 and is poor above 26,455.
- Great deal
- 2.52¢+
- Typical value
- 2.1¢
- Poor deal
- under 1.89¢
How many points should an award cost?
Find the cash the award saves (its cash price less taxes and fees), then read across. Fewer points than the first figure is a great deal; more than the last, a poor one.
| Cash saved | Great deal up to | Breaks even at | Poor deal above |
|---|---|---|---|
| $100 | 3,968 | 4,761 | 5,291 |
| $250 | 9,920 | 11,904 | 13,227 |
| $500 | 19,841 | 23,809 | 26,455 |
| $1,000 | 39,682 | 47,619 | 52,910 |
| $2,500 | 99,206 | 119,047 | 132,275 |
How to work it out yourself
Find the cash price. Look up what the same flight, room or purchase costs in cash, on the same dates and in the same cabin or room type.
Take away what you still pay. Subtract the taxes, fees and any cash part of the award. What is left is the cash the award saves you.
Divide by the points. Divide the cash saved by the points the award costs, then multiply by 100 for cents per point.
Compare with the program's value. Set the result against 2.1¢: 2.52¢ or more is a great deal, 1.89¢ to 2.52¢ a fair one, and under 1.89¢ a poor one.
The 2.1¢ is Points Frog's estimate of what a American Express Membership Rewards point usually returns, an average across typical awards; any one award can be worth much more or less. Prices in other currencies are converted with ECB reference rates of 2026-10-16. An educational estimate, not financial advice.
American Express Membership Rewards award questions
Is your American Express Membership Rewards award a good deal?
It is when each of your points saves 2.52¢ or more in cash, 20% above the 2.1¢ Points Frog values them at. Between 1.89¢ and 2.52¢ it is a fair deal, about even with paying cash; under 1.89¢ it is a poor one, and paying cash keeps the points for a better award.
How many American Express Membership Rewards points should a $500 award cost?
If the award saves $500 in cash after taxes and fees, up to 19,841 points is a great deal, 23,809 breaks even with Points Frog's 2.1¢ value, and more than 26,455 is a poor deal. For a $1,000 saving the same lines fall at 39,682, 47,619 and 52,910.
What is a good value for American Express Membership Rewards points?
2.52¢ or more each is a good redemption: 20% above Points Frog's estimate of 2.1¢, an average across typical awards. Any one award can be worth much more or less, so check yours.
How do I work out what my points are worth on an award?
Find the cash price: Look up what the same flight, room or purchase costs in cash, on the same dates and in the same cabin or room type. Take away what you still pay: Subtract the taxes, fees and any cash part of the award. What is left is the cash the award saves you. Divide by the points: Divide the cash saved by the points the award costs, then multiply by 100 for cents per point. Compare with the program's value: Set the result against 2.1¢: 2.52¢ or more is a great deal, 1.89¢ to 2.52¢ a fair one, and under 1.89¢ a poor one.
Do taxes and fees count?
Yes. Subtract them from the cash price first, since you pay them either way. On an award that costs $500 in cash and $50 in taxes and fees, the points save $450, not $500.