American Express cardholders who rely on Membership Rewards (MR) points for flight redemptions may want to take note. From 23 February 2026, AMEX will be adjusting how MR points convert into airline miles — and the change isn’t in cardholders’ favor.
In simple terms, the same number of MR points will soon buy you fewer airline miles than before.
New Required Points
Previously, 400-450 AMEX points would get you 250 airline miles — now you’ll need 500 or more points for the same reward
For most airline partners:
- Premium AMEX cards → 500 MR points = 250 airline miles
- Cards include: The Platinum Charge Card & Centurion Card
- Other AMEX cards → 550 MR points = 250 airline miles
- Applicable on all other cards that are enrolled in the Membership Rewards Programme except True Cashback Cards on the cashback option, KrisFlyer Credit Cards, and American Express Cards issued by DBS or UOB.
Transfer Partner | Conversion Ratio (AMEX Platinum Charge and Centurion) | Conversion Ratio (Other AMEX Cards) |
Cathay | 400 : 250 500 : 250 miles | 450 : 250 550 : 250 miles |
EVA Air | 400 : 250 500 : 250 miles | 450 : 250 550 : 250 miles |
Malaysia Enrich | 400 : 250 500 : 250 miles | 450 : 250 550 : 250 miles |
Qantas Frequent Flyer | 400 : 250 500 : 250 miles | 450 : 250 550 : 250 miles |
Singapore Airlines Krisflyer | 400 : 250 500 : 250 miles | 450 : 250 550 : 250 miles |
Thai Royal Orchid Plus | 400 : 250 500 : 250 miles | 450 : 250 550 : 250 miles |
British Airways | 400 : 250 500 : 250 miles | 450 : 250 550 : 250 miles |
Emirates Skywards | 400 : 250 600 : 250 miles | 450 : 250 650 : 250 miles |
Why This Matters
For many travelers, Membership Rewards are most valuable when converted to airline miles for award flights, especially premium cabins. With the upcoming adjustment:
- Your effective earn rate (the number of miles you get per dollar spent) will drop by roughly 18–20% for most airline programs.
- This will relatively affect recent sign-ups/new cardholders the most, particularly those waiting for sign-up bonuses. Any Membership Rewards points credited after 23 Feb 2026 will convert into fewer airline miles, meaning each point is worth less for flight redemptions. If your card hasn’t been activated yet, you might consider cancelling to avoid losing flexibility. If the card is already active and you’ve met the bonus requirements, you’re locked in—but it’s still worth contacting Amex if your bonus points are credited under the new, lower conversion rates. To get the most value, transferring points before the devaluation is the safest option.
If you’ve been stockpiling Membership Rewards points with plans to convert them to airline miles — particularly for a big redemption like premium cabin travel — now may be the best time to act. Transferring before 23 February 2026 will let you lock in the current, stronger transfer values.
Conclusion
From 23 February 2026, AMEX Membership Rewards points will convert less efficiently into airline miles, effectively reducing their value for flight redemptions. Cardholders holding MR points—especially those targeting premium cabin flights—should consider transferring points before the change to maximize their mileage returns. In short, the earlier you act, the more value you preserve.
