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American Express Membership Rewards – Introduction
American Express (Amex) Membership Rewards (MR) points are a versatile and valuable in-house currency for cardholders, allowing them to earn points on everyday purchases and redeem them for various rewards. Whether you’re interested in travel, shopping, dining, or entertainment, MR points provide flexible options for redeeming value. While the points can be redeemed for gift cards and statement credits, maximum value is often realized by transferring to airline and hotel loyalty programs, which can be used to book flights and hotels directly.
This guide is the first in a series of three, covering everything you need to know about Amex MR points, from what they are to earning and redeeming them for the maximum value. Key elements and considerations will be examined that will help you build an effective strategy to maximize your earning and redeeming potential, especially if you are pursuing your travel aspirations.
American Express Membership Rewards – Part 2
American Express Membership Rewards – Part 3
In this post, we’ll introduce Amex MR points and what makes them unique compared to other credit card reward programs in Canada.
What are American Express Membership Reward Points?
Membership Rewards (MR) points are American Express’s in-house currency that offers great utilization when it comes to flexibility in possible redemptions and usage. They are Canada’s most valuable reward currency and a key pillar in understanding the Canadian miles and points space. MR points stand out across nearly all metrics: they are effortless to earn, provide excellent redemption value, and offer unmatched flexibility as a transferable points currency. If there’s one rewards program in Canada worth focusing on, it should undoubtedly be Amex Membership Rewards.
What makes Amex Membership Rewards so unique?
The Canadian credit card landscape has many in-house reward programs, such as TD Rewards, CIBC Aventura, MBNA Rewards, BMO Rewards, and Amex MR. Each of these programs has its pros and cons. However, Amex MR stands out from this crowd. There are 3 features that, when taken together, make Amex MR so great:
- Versatility and Flexibility to use your points
- Ability to earn the MR points rapidly through high welcome bonuses and referral programs
- The ability to access premium flight rewards at the lowest cost point.
No other reward program will give you the highest MR earn rate (welcome bonus and spend), the versatility to redeem for many types of rewards, and the ability to transfer to partner reward programs like Air Canada Aeroplan to book premium cabin travel.
American Express Card Types
A common argument I often hear is that American Express cards are not widely accepted. While this may be true, you would be surprised how widely they are actually accepted. More and more merchants in Canada (and abroad) now accept Amex, and while you may have to make minor adjustments to your shopping habits, such as changing your grocery store, the payoff for doing so will be worth it to accelerate your MR earnings potential. This also means using the right credit card for the right purpose, and we will cover all this in detail in part 2 of this guide.
American Express Canada offers a wide range of cards, including basic cash back, Aeroplan, Marriott Bonvoy, and a family of Membership Rewards cards. Here are the cards that earn Membership Rewards:
- American Express Gold Card
- American Express Platinum Card
- American Express Cobalt Card
- American Express Green Card
- American Express Business Platinum Card
- American Express Business Gold Card
Each card has different earning rates depending on whether the purchase is for groceries, restaurants, transit, or everyday spending. In addition, the welcome bonuses for each card are also different. Part 2 of this guide will dive further into the earning potential of each of these cards.
Membership Rewards Redemption Options
Many of you may be focused on the prize: redeeming your points for that coveted business or first-class flight. However, Amex offers its MR in various ways to appeal to the masses. Providing versatility for a wide range of redemptions is what makes MR so special. Here are the redemption all options right from the Amex MR website:
While the optimal redemption will be “Transfer Points,” the 3rd part of the guide will analyze each of these options in detail.
Summary
Versatility and flexibility are paramount when comparing reward currencies. It empowers you, the customer, to redeem those hard-earned points in various ways. The American Express Membership Rewards points are Canada’s most valuable reward currency, and they provide redemption options for things like straight cash back, gift cards, and travel. Furthermore, transferring to airline and hotel partners unlocks further value by making those first and business-class flights a reality to dream destinations staying at luxurious five-star hotels. As we dive deeper into parts 2 and 3 of the guide, we’ll focus on ways to maximize your earning potential and analyze these elusive redemptions.
