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American Express to Devalue Emirates Skywards Transfers
Those hoping to turn their Amex Membership Rewards points into Emirates Skywards miles will soon see a devaluation.
About the American Express-Emirates Skywards Miles Update:
American Express is set to lower its transfer rate to Emirates. Starting September 16th, Membership Rewards points will transfer to Emirates Skywards at a rate of 5:4 — meaning 5,000 Amex MR points will now result in 4,000 Skywards Miles. This is down 20% from the current 1:1 transfer rate.
While most Amex transfer partners observe a 1:1 transfer ratio, there are several exceptions. Some outliers include Hilton Honors’ 1:2 rate and AeroMexico Rewards’ 1:6 rate. Additionally, MR points transfer to JetBlue TrueBlue at a rate of 250:200 — which, while expressed differently, does match the 5:4 rate that will soon be in effect for Emirates.
In Context:
This change comes on the heels of Emirates temporarily halting transfers from a number of partners. While transfers have since resumed, Citi already announced that it will be changing from a 1:1 rate to 5:4. As of this article’s publication date, other Emirates partners, including Chase and Bilt, have yet to announce similar devaluations.
Cards That Earn Membership Rewards Points:
In the United States, there are three cards that earn American Express Membership Rewards points: the American Express Green Card, the American Express Gold Card, and the American Express Platinum Card.
First, the Amex Green Card carries a $150 annual fee and earns 3x points on travel, 3x points on transit, and 3x points on at restaurants worldwide (and on takeout/delivery in the U.S.). All other purchases earn 1x points.
Meanwhile, the Amex Gold Card earns 4x points at restaurants worldwide (up to $50k in purchases per year), 4x points at U.S. supermarkets (up to $25k in purchases per year), 3x on flights booked directly with airlines or via Amex Travel, 2x on prepaid hotel booking made using Amex Travel, and 1x on all other purchases. While the Gold Card does carry a $325 annual fee, that can be offset by credits for Dunkin’ Donuts, Resy restaurant purchases, Uber/Uber Eats, and more.
Finally, the Amex Platinum card earns 5x points on flights booked directly with airlines or via Amex Travel, 5x points on prepaid hotel bookings made with Amex Travel, and 1x points on everything else. With a $695 annual fee, the Platinum card features a variety of perks, including airport lounge access, hotel elite status, and more. Plus, the card features several credit opportunities from CLEAR Plus, the Amex Fine Hotels & Resorts Collection, Uber/Uber Eats, Saks Fifth Avenue, and several others.
My Thoughts:
There is no upside here — this is bad news. Although I suppose you could hope that this means that Emirates Skywards miles will become more valuable to justify the new exchange rates, there’s virtually no chance of that happening. That said, there may still be sweet spots or other worthy redemptions to be found via Skywards, so it may not be one to rule out entirely.
Also, with this update now affecting two Emirates transfer partners, expect more to follow shortly.
P.S. – For tips on redeeming your Amex Membership Rewards points or other rewards currencies, I recommend checking out the free Daily Drop newsletter.
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