Amex announces 12 new transfer bonuses up to 30% for airline and hotel partners

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American Express Membership Rewards® continue to prove their value. Similar to a promotion we saw this time last year, on Thursday, Amex temporarily raised the transfer ratios of 12 of their hotel and airline partners.

Simply put, your Amex Membership Rewards points earned with cards like The Platinum Card® from American Express and the American Express® Gold Card are now worth more during this promotion. More specifically, for a limited time, you will get up to a 30% bonus when transferring your points to an airline or hotel partner. So if you're planning on booking travel by transferring American Express Membership Rewards, be sure to take advantage of this promotion soon to get some serious savings.

Here's what you need to know.

American Express cards that earn Membership Rewards points are able to transfer their points to 18 different airline loyalty programs and 3 hotel loyalty programs. The advantage of earning flexible points is that cardholders are able to earn rewards that can be used with a multitude of travel providers, rather than earning rewards with one singular brand. Plus, you can take advantage of sweet spots in each rewards program.

Here are the current transfer ratio promotions running, and when each offer ends.

To transfer your rewards, simply log in to your American Express account and find the section that says "explore rewards." Follow the prompts from there, and you will find a screen with a list of airline and hotel partners you can choose from. Lastly, you will need to link your airline or hotel loyalty account to your American Express account, and then you'll be ready to transfer your rewards.

This points and miles strategy is extremely effective for stretching the value of your rewards, which makes American Express cards desirable to have. Note that you'll need an Amex card that earns Membership Rewards points to transfer to airlines and hotels. Cards that earn these points include the following:

• The Platinum Card® from American Express: Earn 80,000 Membership Rewards® points after spending $8,000 within six months of card membership.
• American Express® Gold Card: Earn 60,000 Membership Rewards® points after spending $4,000 on eligible purchases within the first six months of card membership.
• The Business Platinum Card® from American Express: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases within the first three months of card membership.
• The Blue Business® Plus Credit Card from American Express: Currently, there is no welcome bonus.

There are a few nuances to keep in mind when transferring Amex rewards to airline and hotel programs.

• Transfers sometimes do not process immediately, so give the transfer process a few hours to go through, and sometimes a few days.
• In some cases, you may need to pay an excise tax when transferring to U.S.-based frequent flyer programs. You can pay this using your American Express card or with Amex points. You will find this prompt before you confirm your points transfer.
• You'll usually yield more value by transferring your points to airline partners and booking flights, but using points for hotel stays can sometimes be smart too. Hotel redemptions through a partner like Marriott Bonvoy can be a good deal when redeeming points for luxury properties or when cash prices are high.
• Don't transfer your points until you're ready to spend them as transfers are irreversible.

But most importantly, there are several outstanding redemptions to keep in mind if you are looking for a luxurious travel experience without spending all of your Amex points.

Although American Express points can't be transferred to American Airlines or United Airlines, there are still ways to book flights with those carriers through their partners. And if you're looking to fly in a premium first class cabin without paying thousands of dollars, this is the best way to save money while also enjoying a glass of champagne and comfortable seat 30,000 feet in the sky. Here are a few of the sweet spots to consider when using your American Express rewards:

Short-haul American Airlines and Alaska Airlines flights with British Airways Avios

British Airways Executive Club uses a distance-based award chart, making it a great option for booking short- and medium-haul domestic American Airlines and Alaska Airlines flights, since these airlines are all partners. Flights up to 651 miles long cost just 7,500 Avios one-way in economy or 15,000 Avios in business class, while flights between 651 and 1,151 miles cost 9,000 Avios in economy or 16,500 Avios in business class. Factor in the 25% transfer bonus and you'll be able to book a flight for as low as 6,000 Amex points. This is often cheaper than booking these same flights directly through American. Just note that British Airways prices awards by segment so trips with layovers will cost more.

American Airlines business/first class by transferring to Etihad Guest

Another option for booking cheap premium American Airlines seats is through Etihad Guest. For a one-way first-class ticket across the U.S. you'll pay a modest 32,500 miles — including American's premium transcontinental flights with fancy lie-flat seats. If you were to book with American Airlines, you may pay double or triple that. The only drawback is that you must call Etihad Guest to book American Airlines award.

Book Delta flights with Virgin Atlantic

Virgin Atlantic and Delta have a partnership where you can book Delta flights through Virgin Atlantic's Flying Club rewards program. Ironically, there are many cases where if you were to transfer your miles to Delta and book an identical flight, it will cost significantly more. So if you want to fly Delta on your next adventure, consider transferring your miles to VA instead.

And with the current transfer bonus, you'll need to move 30% fewer rewards from Amex to Virgin Atlantic for your preferred redemption.

Domestic United flights with Avianca LifeMiles or Air Canada Aeroplan miles

Although United isn't a transfer partner of American Express, you can book United-operated flights through Avianca LifeMiles or Air Canada Aeroplan. Domestic economy flight awards booked through either of these programs generally range between 6,000 and 12,500 miles, depending on the route. That's roughly the same, or even less, than what United would charge through its MileagePlus program.

United Airlines business class to Europe with ANA miles

One of the downsides of booking with miles is that some European-based airlines charge incredibly high fuel surcharges — sometimes upwards of $1,000 when booking premium cabins. Consider transferring your Amex points to ANA and booking a United Airlines business class flight to Europe for 88,000 miles round-trip. You'll avoid paying steep fees, all the while getting an incredible deal with miles.

American Express Membership Rewards are some of the most lucrative card reward points available because of the large variety of transfer partners. But before you jump at this promotion, be sure to do your research — you'll want to have a few redemptions in mind and make sure that there's award availability for your preferred itinerary. Membership Rewards transfers are irreversible so we don't recommend transferring points speculatively.

Additionally, do the simple math to see what value you're getting from your points. Take the cost of the flight and divide by the number of points needed. If you're earning above 1 cent per point, you're doing better than other redemptions like booking through the Amex Travel Portal; anything above 2 cents per point and you're getting a great value.

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For rates and fees of The Platinum Card® from American Express, click here

For the rates and fees of the American Express® Gold Card, click here

For rates and fees of The Business Platinum Card® from American Express, click here.

For rates and fees of The Blue Business® Plus Credit Card from American Express, click here.