Amex Devalues Rewards Rate & Welcomes Everyday Rewards

From 15 December 2025, American Express (Amex) will devalue the rate at which its Australian Membership Rewards points convert to several airline partner programs.

If you’re a cardholder with American Express Membership Rewards Points ready to transfer, we would love to help you save money and book your next luxury holiday on points.

Contact one of our skilled Rewards Travel Specialists today.

What Will Change?

Amex wanted to provide sufficient notice (more than three months) before these changes came into effect this December. Until then, travellers are still able to convert their points into the affected frequent flyer programs at the current rates. Meanwhile, the current earn rates on Amex cards will remain the same.

You can find the full list of Amex Membership Rewards partners below, as well as the conversion rate before and after 15 December 2025:

More About Everyday Rewards…

Amex will remove Thai Airways Royal Orchid Plus as a partner. However, they will also add Everyday Rewards. This is a first for Australia. Amex Membership Rewards will be able to convert their Amex Rewards points into Everyday Rewards points at the rate of 5:4.

Everyday Rewards is the loyalty program of retailers such as Woolworths. With which, travellers can redeem points for discounts on shopping. However, what’s especially interesting about this partnership is that you can also convert Everyday Rewards into Qantas Frequent Flyer points – 2,000 Everyday Rewards Points can be transferred into 1,000 Qantas Frequent Flyer Points, for example.

This opens up a whole new method of earning Qantas Frequent Flyer Points for Amex cardholders with cards that aren’t Qantas co-branded.

Our Advice

The Amex Membership Rewards program is highly valued for its extensive network of redemption partners, offering travelers far more flexibility than just Qantas or Virgin. Given the high volume of Qantas and Virgin Frequent Flyer points held by many Australians, finding available seats on these carriers can be challenging. Amex allows you to transfer points directly to a wide array of international airlines, significantly increasing your chances of finding and redeeming seats.

This recent change from Amex is certainly frustrating for many loyal cardholders. You have until December 15th to transfer your points at the current redemption rates. We strongly suggest transferring your points to frequent flyer accounts where they will not expire. Some airlines, such as Qatar Airways (Avios) and Asia Miles, offer points that do not expire as long as your account remains active every 36 months. For airlines like Emirates and Singapore Airlines, which we particularly favour for their excellent product, miles typically expire after three years.

Did You Know…

The last major Amex Membership Rewards devaluation took place in 2019. Previously, the company had also changed the conversion rate for Skywards and KrisFlyer points from 2:1 to 3:1 in 2023. These partners will be unaffected by these upcoming revisions.

To maximise points and make the most of your next holiday, contact one of our Rewards Travel Specialists for further details and assistance with managing your points!