Reviewed by Joseph Hellman-Benjamin, Founder and CEO. Last reviewed: October 10, 2026. Editorial Policy
Amex points vs. cash back is a question of how you redeem. An American Express Membership Rewards point is worth 0.6 cents as a statement credit, 1 cent toward flights on Amex Travel, and about 2 cents when transferred to an airline partner, by The Points Guy’s October 2026 estimate. If you will transfer points for flights, points win. If you want money off your bill, a cash back card wins by a wide margin.
What an Amex Point Is Worth, by Redemption
| How you use the point | Value per point | Source |
|---|---|---|
| Statement credit | 0.6 cents | American Express |
| Prepaid hotels on Amex Travel | 0.7 cents | American Express |
| Gift cards | Up to 1 cent | American Express |
| Flights on Amex Travel | 1 cent | American Express |
| Transfer to an airline or hotel partner | About 1.3 to 2.0 cents | NerdWallet and The Points Guy, October 2026 |
The first four figures are from American Express’s own page on what points are worth, updated April 30, 2026. The last is an estimate, and what you get depends on the flight you book.
Amex Points vs. Cash Back on the Same Spending
Take $6,000 a year at U.S. supermarkets, on three American Express cards.
| Card | What $6,000 earns | Worth |
|---|---|---|
| Gold Card, 4 points per $1 | 24,000 points | $144 as a statement credit, $240 in Amex Travel flights, about $480 at 2.0 cents |
| Blue Cash Preferred, 6% | $360 cash back | $360 |
| Blue Cash Everyday, 3% | $180 cash back | $180 |
The Blue Cash Preferred beats the Gold Card unless you get more than 1.5 cents from each point. That is possible with a good airline transfer and out of reach with any redemption American Express offers directly.
Annual fees shift the math further. The Gold Card costs $325 a year, against $895 for the Platinum Card (see Amex Platinum vs. Amex Gold). The Blue Cash Preferred is $0 for the first year and then $95. The Blue Cash Everyday has no annual fee.
American Express’s Cash Back Cards
| Blue Cash Everyday | Blue Cash Preferred | |
|---|---|---|
| Annual fee | None | $0 the first year, then $95 |
| U.S. supermarkets | 3%, on up to $6,000 a year | 6%, on up to $6,000 a year |
| U.S. gas stations | 3%, on up to $6,000 a year | 3% |
| U.S. online retail | 3%, on up to $6,000 a year | 1% |
| Select U.S. streaming | 1% | 6% |
| Transit | 1% | 3% |
| Everything else | 1% | 1% |
| Foreign transaction fee | 2.7% | 2.7% |
Rates are from American Express’s pages for the Blue Cash Everyday and Blue Cash Preferred, read on October 10, 2026. Cash back arrives as Reward Dollars, which you redeem as a statement credit or at Amazon.com checkout.
Can You Turn Amex Points Into Cash?
- Statement credit. 0.6 cents a point. 50,000 points become $300.
- The Schwab Platinum Card. Holders can move points into a Schwab brokerage account at 1.1 cents each, according to US Credit Card Guide and Upgraded Points. That card costs $895 a year.
- Selling to a broker. Cash, but against the program’s terms. See the section below.
When Points Win
- You book international or premium cabin flights and are willing to transfer points to an airline program.
- You spend heavily at restaurants, where the Gold Card earns 4 points per dollar and the cash back cards earn 1%.
- You travel abroad. The Gold and Platinum cards charge no foreign transaction fee; the Blue Cash cards charge 2.7%.
When Cash Back Wins
- You would redeem points for statement credits. At 0.6 cents, 4 points per dollar is a 2.4% return, well under the Blue Cash Preferred’s 6% at supermarkets.
- You do not want to learn airline award charts or hunt for seats.
- You want a low annual fee, or none.
If You Already Have Points You Will Not Use
Brokers, including The Points King, buy Membership Rewards points for cash. Selling Membership Rewards points is against the program’s terms, which say you can’t sell your points and let American Express take points away or cancel your card account. Read the risks of selling miles and points first, then see our page on selling Amex points. For the same comparison with airline miles, see selling airline miles vs. cash back cards.
Frequently Asked Questions
Is it better to get Amex points or cash back?
Points, if you transfer them to airlines for flights. Cash back, if you would otherwise redeem points for statement credits at 0.6 cents each.
How much cash is 50,000 Amex points?
$300 as a statement credit, at 0.6 cents a point. The same points are worth $500 toward flights on Amex Travel.
Is one Amex point worth one cent?
Only for flights booked through Amex Travel and some gift cards. A statement credit pays 0.6 cents.
Does American Express have cash back cards?
Yes. The Blue Cash Everyday has no annual fee and pays 3% in three categories. The Blue Cash Preferred pays 6% at U.S. supermarkets and costs $95 a year after the first year.
Sources
- American Express: what points are worth, updated April 30, 2026
- American Express: Blue Cash Everyday, read October 10, 2026
- American Express: Blue Cash Preferred, read October 10, 2026
- American Express: Gold Card, read October 10, 2026
- The Points Guy: monthly valuations, October 1, 2026
- NerdWallet: points and miles valuations, updated October 6, 2026
- US Credit Card Guide: Schwab Platinum Card, July 10, 2026