YOUR CANADIAN GUIDE TO AMERICAN EXPRESS MEMBERSHIP REWARDS (spring 2024)

American Express Membership Rewards is the premier travel currency in Canada.

While branded credit cards with Aeroplan & Marriott can provide immense value to Canadians, they are limited in the sense that you can only leverage the points for that particular program or one of their transfer partners. For example, Aeroplan credit cards don’t do anything if you’d like to take a WestJet flight. 

There are other points programs available to Canadians that provide high sign-up bonuses, and enhanced flexibility.

In this post we’ll talk about one of the premier rewards currencies in Canada, American Express Membership Rewards (MR)

American Express Membership Rewards is a loyalty program offered by American Express to its cardholders. The program allows cardholders to earn points for every dollar spent on eligible purchases with their American Express card. The points can be redeemed for a variety of rewards, including travel, merchandise, gift cards, and statement credits.

Cardholders can also earn additional points through special promotions and partnerships with other merchants. The program offers flexibility in terms of how and when cardholders can redeem their points, as well as the ability to transfer points to select airline and hotel loyalty programs.

American Express Membership Rewards is a popular loyalty program among frequent travelers and those who value flexibility and choice in their rewards program.

In this post, we’ll walk through the do’s and don’ts of American Express Membership Rewards, and how Canadians can leverage this program to travel the world on points.

Membership Rewards Overview

How to Earn Membership Rewards	American Express credit cards
How to Redeem Membership Rewards	In-house travel program Transferring to airline & hotel partners
Value of Membership Rewards	1 MR = 2.1 cent/pp

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Here are 6 Things Canadians Need to know about American Express Membership Rewards

Earning Membership Rewards

1. You Can Earn Membership Rewards Through American Express Credit Cards

You can earn Membership Rewards points through various American Express credit cards. The points can be earned by making eligible purchases with your American Express card.

Different cards may offer different earning rates for Membership Rewards points, and some cards may have bonus categories or promotional offers that allow you to earn additional points. The accumulated Membership Rewards points can be redeemed for a variety of rewards, including travel, merchandise, gift cards, and more.

The American Express Platinum Card is a great way to earn Membership Rewards.

The $799 annual fee (which comes with a $150 rebate through GreatCanadianRebates) is offset by the following perks & benefits:

• Sign-up Bonus:
  • 70,000 MR points upon spending $10,000 in the first three months
  • 30,000 MR points upon making a purchase between months 14-17 of cardmembership
• Earn Rate: 
  • 2 MR points per dollar spent on travel, groceries & dining
  • 1 MR point everywhere else
• Insurance:
  • Emergency Medical Travel Insurance – up to $5,000,000
  • Car rental damage insurance 
  • Trip Cancellation Insurance- up to $3,000
  • Hotel Burglary insurance – up to $1,000
  • Baggage delay insurance – up to $1,000
  • Lost or stolen baggage insurance – up to $1,000
• Perks
  • $200 annual travel credit
  • $200 annual dining credit
  • Special discounts for cardholders, which are sent via email
  • $100 Nexus credit
  • Instant Gold status at Marriott Bonvoy & instant Gold status at Hilton Honours
  • Access to Pearson Priority Security Lane during peak operating times
  • Complimentary valet service at the Express Park and Daily Park at Pearson Airport
• Lounge Access
  • Priority Pass (+1 guest)
  • Plaza Premium Lounges (+1 guest)
  • Delta Sky Club
  • Airspace Lounges (+2 guests)
  • Centurion Lounges
  • SwissPort Lounges (+1 guest)

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You can also earn Membership Rewards through several other personal credit cards including: 

• American Express Gold
• American Express Cobalt 
• American Express Green Card

2. You Can Also Earn American Express Membership Rewards Through American Express Business Credit Cards

If you’re a business owner or even a sole proprietor, you can leverage some of the best business credit cards in the market to obtain American Express Membership Rewards. 

Similar to the personal card, the American Express Business Platinum provides a great signup bonus, along with strong everyday earnings.

The $799 annual fee (offset by a $150 rebate through GreatCanadianRebates) comes with the following perks & benefits:

• Sign-up Bonus:
  • 80,000 MR points upon spending $15,000 in the first three months
  • 40,000 MR points upon making a purchase between months 14-17 of cardmembership
• Earn Rate: 
  • 1.25 MR points everywhere else
• Insurance:
  • Emergency Medical Travel Insurance – up to $5,000,000
  • Car rental damage insurance Trip Cancellation Insurance- up to $3,000
  • Hotel Burglary insurance – up to $1,000
  • Baggage delay insurance – up to $1,000
  • Lost or stolen baggage insurance – up to $1,000
  • Disability plan for you as an owner
• Perks
  • Special discounts for cardholders, which are sent via email
  • Instant Gold Status at Marriott Bonvoy
  • Instant Gold Status at Hilton Honours
  • $200 annual travel credit
  • $100 Nexus Credit
  • $10 per month wireless credit
• Lounge Access
  • Priority Pass (+1 guest)
  • Plaza Premium Lounges (+1 guest)
  • Delta Sky Club
  • Airspace Lounges (+2 guests)
  • Centurion Lounges
  • SwissPort Lounges (+1 guest)

At first glance, the word “business” may deter people from applying for the card. However, even as a sole proprietor, you can secure business credit cards with relative ease. Simply put your individual name down in lieu of the business name, and proceed with the application. 

You can also earn Membership Rewards through a number of other business credit cards including:

• American Express Business Gold
• American Express Business Edge

3. You Can Also Earn American Express Membership Rewards Through Referrals 

In addition to providing Canadians with great signup bonuses, and strong everyday rewards, American Express also offers a great referral program. 

The American Express Refer a Friend program gives you a chance to earn Membership Rewards for every friend or family member you refer through the program. 

To get the points, they must be approved for an eligible American Express credit card.

Unfortunately, you can only refer to certain cards: 

• The Business Platinum Card can refer to the Business Gold, Personal Platinum, Business Edge
  • 20,000 Membership Rewards per referral 
• The Platinum Card can only refer to itself or the Business Platinum
  • 20,000 Membership Rewards per referral
• The Gold Rewards Card can refer to the Business Platinum, Personal Platinum, Personal Gold, Cobalt & Business Edge
  • 15,000 Membership Rewards per referral
• The Personal Gold Card can refer to the Business Platinum, Personal Platinum, Business Gold, Cobalt & Business Edge
  • 7,500 Membership Rewards per referral
• The Business Edge Card can refer to the Business Platinum & Business Gold Card
  • 10,000 Membership Rewards per referral
• The Cobalt Card can refer to the Gold Rewards Card and Business Gold Card
  • 5,000 Membership Rewards per referral

These referral bonuses can provide extra value to your rewards portfolio, especially if you’re earning rewards alongside your spouse/partner.

Over the course of the year, some American Express cards will offer increased referral bonuses. This means you could earn even more rewards for each successful referral.

Redeeming Membership Rewards

4. American Express Membership Rewards Program is King Because of Its Flexibility

One of, if not the best reason for you to start collecting American Express Membership Rewards (MR) is that you can transfer your MR to multiple transfer partners including: 

• Air Canada/Aeroplan
• British Airways Executive Club 
• Air France/KLM
• Asia Miles 
• Delta Airways Sky Miles
• Marriott Bonvoy Points
• Hilton Honours Points

You can view the transfer ratios below.

How to Transfer Your Membership Rewards
Step #1: Go to this link: https://www.americanexpress.com/en-ca/rewards/membership-rewards/travel/all 

Log in at the top right-hand corner

Step #2: Select the partner you’d like to transfer your points to

Step #3: Determine how many points you’d like to transfer

Many airlines are represented in the Star Alliance (Aeroplan) & OneWorld (Avios) partnerships, so regardless of where you want to fly, Membership Rewards can help you get there. 

Occasionally, American Express will offer “bonus transfers” on certain airlines or hotel partners, so signing up for their weekly emails may be worthwhile.

5. You Can Leverage Membership Rewards for American Express Fixed Point Travel Program

If you choose not to transfer your Membership Rewards to one of the transfer partners listed above, you can alternatively use those points directly within American Express’s in-house travel platform

You can apply your Membership Rewards to both domestic & international travel as outlined below

It should be noted that the value you receive by TRANSFERRING your Membership Rewards is greater than if you were to use it within the American Express travel portal 

6. You Can Also Leverage Your Membership Rewards For Purchases 

This is essentially a quasi “cash back” option that allows you to redeem your points for either purchases made on your card or for purchases made directly through American Express’ online shopping portal. 

While it may be tempting to use your Membership Rewards for this purpose, the value you receive by going this route is somewhere in between 0.6-1 cent per point, which is substantially less value compared to transferring out your points, where you can get upwards of 2-4 cents per point (if not higher). It’s also well below the standard cash-back options available.

Conclusion 

With the bevy of transfer partners, and the ability to earn a large amount of points through signup bonuses, American Express Membership Rewards are the premier rewards currency in the Canadian market. 

All Canadians who intend to travel over the next 6-12 months should look to Membership Rewards as an avenue to drastically reduce the cost of their trip.

FAQ 

What is the Value of 1 Membership Reward?

Assuming you are transferring out your points to Aeroplan, you can expect to get a return of 2-2.1 cents per point of value.

When transferring to Marriott Bonvoy or Hilton Honours points, you can expect to see a rate of return of 1.4-1.5 cents per point of value.

Which Credit Cards Allow Me to Earn Membership Rewards?

There are a number of credit cards that allow you to earn membership rewards. The table below highlights some of your best options: 

Credit Card	Annual Fee	Welcome Bonus	Earning Rate	Insurance
American Express Platinum Card	$799	70,000 Points	3 points per $1 on dining 2 points per $1 on travel 1 point per $1 on all other purchases	Strong
American Express Gold Card	$250	60,000 Points	2 points per $1 on gas, groceries, drugstores, and travel 1 point per $1 spent on all other purchases	Average
American Express Cobalt Card	$155.88 (billed monthly)	15,000 Points	5 points per $1 spent on food/dining 3 points per $1 spent on streaming services 2 points per $1 spent on gas, and travel 1 point per $1 spent on all other purchases	Weak
American Express Green Card	$0	10,000 Points	1 point per $1 spent on all other purchases	Weak
American Express Business Platinum Card	$499	80,000 Points	1.25 points per $1 on all purchases	Strong
American Express Business Gold Card	$199	70,000 Points	2 points per $1 at selected merchants 1 point per $1 all other purchases	Average
American Express Business Edge Card	$99	57,000 Points	3 points per $1 on office supplies, electronics, gas, and restaurants 1 point per $1 all other purchases	Weak

4 Takeaways For Your Travels

1. American Express Membership Reward credit cards provide you with great signup bonuses and high earnings on everyday spending. Having one of these cards in your portfolio is a recommendation.
2. If your spouse/partner is also intending on getting an American Express, make sure you leverage the American Express referral bonus if eligible.
3. American Express has a “once in a lifetime” signup bonus for their credit cards.  If you cancel one of these cards, you may not be eligible for a sign-up bonus in the future (data points vary on this)
4. If you hold an American Express, make sure you are receiving their promotional emails. They will regularly send you discounts and cash-back options on popular vendors (sometimes upwards of hundreds of dollars).