New Way To Cash Out American Express Membership Rewards Points At Up To 1 Cent-Per-Point


With the launch of the new American Express Membership Rewards business checking account, there’s now a new way of cashing out Membership Rewards points for either 1 cent-per-points for Business Platinum cardholders or .8 cents-per-point for all others. This feature is already live.

Amex Cash-Out Options

Here are the available methods of cashing out Membership Rewards points into cold cash:

  • 1.1 cents per point with the Schwab Platinum card
  • New: 1 cent per point via the business checking account for Business Platinum cardholders, details below
  • 1 cent per point with Morgan Stanley Platinum card
  • 1 cent per point on certain gift cards
  • .85 cents per point for most of the better gift cards
  • New: .8 cents per point via the business checking account, details below
  • .8 cents per point via the personal American Express checking account
  • .7 cents per point on Amazon or Paypal
  • .6 cents per points when cashing out to offset your purchases

American Express has now added a feature to their fee-free Membership Rewards business checking account which allows redeeming points for cash at .8 cents per point. Notably, your points from the checking account seem to pool with those earned on your credit card accounts, and all of your points have this cashout option.

More interestingly, Business Platinum cardholders can cash out via their business checking account at 1 cent per point, up to one million points annually. (ht to DDG) Here’s an image shared by a Reddit member:


  • I don’t know if there are tax implications to these conversions; it should be similar to other redemption methods. Presumably these redemption will be similar to Schwab redemptions which do not result in a form 1099. As far as your actual tax liability please consult a tax advisor.
  • In my experience, the Membership Rewards points from credit cards under one SSN/EIN are available for redemption under the business checking which is under a different EIN and entity. I guess they are linked by the owners SSN which is behind the business entity or perhaps by being in the same online login.

Our Verdict

For some people this new is a complete yawn since many of us value Amex points at significantly higher than 1 cent-per-point. Similarly, those who hold the Schwab Platinum card long term always have the superior 1.1 cent redemption option.

Still, this is a nice piece of news as another reliable method – outside of the Schwab card – of getting at least 1 cent value from Amex points without a hassle. And it’s getting me to eyeball the Business Platinum card offers knowing that I have an easy way of cashing out the points.

It’s worth noting: those who have the Business Platinum card or Business Gold cards already have the ability to book airfare, specifically, at 1 cent-per-point through Amex Travel. And they get a 35%/25% rebate of their points rebated back on the Platinum/Gold card. All-told, that gives you a value of 1.54/1.33 cents per point.

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