The 10+ Best Ways to Spend AMEX Membership Rewards Points - The New Zealand Cardholder Guide

Our guide explains how AMEX Membership Reward Points-earning cards turn big spending into luxurious rewards, offering 4-11X more returns than typical platinum cards, free business class flights, five-star hotel stays, and flexibility with timeless, transferable points.

Best Ways to Spend American Express Membership Rewards Points NZ

Updated 3 August 2024

Summary:

Our list is most suitable for any New Zealander who wants luxury awards from their credit card spend. The awards we list are a small sample of what's unavailable when earning AMEX Membership Rewards Points. These awards - luxury resorts and business class flights with leading airlines are unavailable via bank-issued credit cards.
For every NZ$1 spent on an AMEX card, our calculations suggest you can earn around 4-11X the rewards compared to a typical bank-issued 'platinum' card. This means up to 10 cents back in hotels and 4 cents back in flights if you pick the best-value rewards. It's a lot more valuable than the 1 Airpoints Dollar you'll get from every $110+ you spend with Westpac, ANZ or KiwiSaver.
For example, by spending about NZ$145,000 on your AMEX card over several billing periods, you can earn enough AMEX points to convert to a free business class flight on Qantas to New York, or Qatar Airways to London.
5-star resorts in Fiji, the Maldives and beyond can be booked; around $190,000 spent on an AMEX card can secure a NZ$20,000 five-night stay at the JW Marriott Maldives. AMEX points can be transferred to the Marriott Bonvoy program at a 1:1 ratio. Marriott's extensive portfolio of brands and promotion of a free 5th night for any stay booked with points further enhance the value of your AMEX points.

To help explain everything, our guide covers:

AMEX Points are a powerful currency - MoneyHub Founder Christopher Walsh shares his tips:

"Traditional bank-issued credit cards may fall short in terms of rewards. However, with an AMEX card, your spending could transform into free business class flights and five-star hotel stays. Yes, the numbers seem large, but for individuals with higher-than-average earnings and expenditures, racking up AMEX points for later luxury is quite achievable".

"Just imagine this - spending around NZ$135,000 on your card could unlock a free business class flight on Qantas to New York or a Qatar Airways journey from Auckland to London. This exclusive benefit is offered to New Zealand-based AMEX cardholders".

"Furthermore, an expenditure of approximately NZ$190,000 could earn you a luxurious NZ$20,000 stay at the JW Marriott Maldives. The value here is astounding, especially when compared to the ~1,650 Airpoints Dollars that a Kiwibank or Westpac Airpoints Platinum would generate".

"The rebates generated from hotel and flight rewards (ranging from 2.50%+ to 10%+) are impressively favourable when compared to ANZ, Kiwibank or Westpac Airpoints Platinum cards, which offer around 0.8% to 0.9% rebates. By utilising the American Express Gold Rewards Card you're effectively earning around 4-11X the rewards for every $1 you spend on your AMEX compared to a typical bank-issued platinum card. It's worth noting that programs like ASB True Rewards and Westpac hotpoints appear to offer even fewer rewards per dollar spent".

"AMEX Membership Rewards points are timeless, with no expiration date, allowing you to choose the perfect reward when the time is right".

"However, an important note of caution: if you anticipate challenges paying off your balance each month, it's best to avoid credit cards altogether. While the rewards are enticing, the interest cost is a real concern, particularly with record-high interest rates. Don't allow the allure of rewards to draw you into a cycle of debt. Prioritise your financial well-being first, and only consider credit cards when your finances are stable."

Christopher Walsh
MoneyHub Founder

Best Value Flight Rewards

AMEX Reward Points can also be transferred to airline loyalty programs, offering fantastic value when redeemed for business class flights. Our shortlist of airlines and routes below offer appealing transfer 'sweet spots' and therefore provide excellent redemption opportunities.

Auckland to New York (one way), Qantas Business Class

(Converting 253,000 AMEX points to 126,500 Qantas points)

The details:

Qantas Airways has a 2:1 transfer ratio, meaning every 2 AMEX points translate to one Qantas point.
With the AMEX Gold Rewards Card which earns 2 AMEX points for every $1 spent, to acquire 126,500 Qantas points, you'd need to spend $126,500 on your card (given the earning rate of 2 per $1 spent and the transfer rate to Qantas of 2:1).
Given the estimated $5,000 value of the flight, every $1 spent on your AMEX Card would give you a return of approximately 3.95 cents (or 3.95%) in the form of this specific Qantas flight.

Auckland to London (one way), Qatar Airways Business Class/QSuite

(Converting 270,000 AMEX points to 90,000 Qatar Airways Avios)

Qatar Airways has a 3:1 transfer ratio, meaning every 3 AMEX points translate to one Avios.
With the AMEX Gold Rewards Card which earns 2 AMEX points for every $1 spent, to acquire 90,000 Avios, you'd need to spend approximately $135,000 on your card (given the earning rate of 2 per $1 spent and the transfer rate to Qatar Airways of 3:1).
Given the estimated $5,000 value of the flight, every $1 spent on your AMEX Card would give you a return of approximately 3.7 cents (or 3.70%) in the form of this specific Qatar Airways flight.

Auckland to Hong Kong (return), Cathay Pacific Business Class

(Converting 390,000 AMEX point to 130,000 Asia Miles)

Cathay Pacific has a 3:1 transfer ratio, meaning every 3 AMEX points translate to one Asia Mile.
With the AMEX Gold Rewards Card which earns 2 AMEX points for every $1 spent, to acquire 130,000 Asia Miles, you'd need to spend approximately $195,000 on your card (given the earning rate of 2 per $1 spent and the transfer rate to Cathay Pacific of 3:1).
Given the estimated $5,000 value of the flight, every $1 spent on your AMEX Card would give you a return of approximately 2.56 cents (or 2.56%) in the form of this specific Cathay Pacific flight.

Auckland to London (one way), Singapore Airlines Business Class/QSuite

(Converting 391,500 AMEX points to 130,500 KrisFlyer miles)

Singapore Airlines has a 3:1 transfer ratio, meaning every 3 AMEX points translate to one KrisFlyer mile.
With the AMEX Gold Rewards Card, which earns 2 AMEX points for every $1 spent, to acquire 130,500 KrisFlyer miles, you'd need to spend approximately $195,750 on your card (given the earning rate of 2 per $1 spent and the transfer rate to Singapore Airlines of 3:1).
Given the estimated $5,000 value of the flight, every $1 spent on your AMEX Card would give you a return of approximately 2.55 cents (or 2.55%) in the form of this specific Singapore Airlines flight.

Best Value Hotel Rewards

AMEX reward points can be transferred to other loyalty programs, and for hotels, the Marriott Bonvoy program offers exceptional value if redeemed correctly. Marriot Bonvoy has an impressive 1:1 transfer ratio, meaning every AMEX point translates to one Marriott Bonvoy point. Given the AMEX Gold Rewards Card earns 2 AMEX points for every $1 spent, to earn 100,000 Bonvoy points, for example, you'll need to spend $50,000 on your card.

The Marriott Bonvoy program, covering an extensive portfolio of hotels, including brands like Ritz-Carlton, St. Regis and more, allows you to redeem these points for free hotel nights. Especially advantageous is Marriott's promotion that gifts the 5th night free for any stay booked with points. This essentially enhances the value of your AMEX points.

Maximize the Value of Points: The best way to do this is to book stays of five nights. Additionally, redeeming points at high-end or particularly expensive Marriott properties often provides the best value.

Warning: However, it's important to be mindful when booking luxury, remote resort-type hotels, such as the Ritz-Carlton, in exotic locations. While your points can cover the accommodation costs, additional services like food, drinks and resort fees can be notably high. Moreover, these extra charges cannot be settled using Marriott Bonvoy points. For example, the daily cost of food and drinks for a couple at Ritz-Carlton Maldives can easily reach around NZ$800 to even $1,000 (or more).

Therefore, opting for hotels in urban areas could be a more cost-effective approach. This allows you to explore local dining and drinking options outside the resort, potentially saving considerable money.

Please note, all research was done using a five night booking (Monday to Saturday) in May 2024. Marriott uses dynamic reward pricing, so at peak times, the points required may be higher. Conversely, you can find nights with lower points requirements.

Sheraton Denarau Villas, Fiji

Total AMEX points required: 237,000 (that's how many AMEX you'll need to accumulate before you can redeem them for your stay by transferring them to Marriott's program)
Value of a five-night stay: NZ$6,862 (if you were to pay for the same stay without using points, this is the price on the Marriott website)
Rebate per NZ$1 spent on an AMEX Card: 5.8% (NZ$1 spent = 2 Marriott Bonvoy points)

Understanding the rebate

This percentage represents the return on your spending, calculated by comparing the value of the points you earn to the money you spend. In the above example, every NZ$1 spent on your AMEX Card gives you 2 Marriott Bonvoy points. When used to book a stay, the value of these points equals a 5.8% return on your original expenditure.
In other words, for every dollar you spend, you're essentially getting back 5.8 cents in the form of future Marriott Bonvoy stays. This calculation is designed to help you understand the value you're getting from your AMEX card and loyalty program participation.

Sheraton Denarau Villas AMEX Points Redemption

JW Marriott, Maldives

Total AMEX points required: 377,500
Value of a five-night stay: NZ$19,740
Rebate per NZ$1 spent on an AMEX Card: 10.50% (NZ$1 spent = 2 Marriott Bonvoy points)

Westin Singapore

Total AMEX points required: 137,000
Value of a five-night stay: NZ$5,475
Rebate per NZ$1 spent on an AMEX Card: 8% (NZ$1 spent = 2 Marriott Bonvoy points)

Westin, Maldives

Total AMEX points required: 264,000
Value of a five-night stay: NZ$9,310
Rebate per NZ$1 spent on an AMEX Card: 7.1% (NZ$1 spent = 2 Marriott Bonvoy points)

W London, London

Total AMEX points required: 238,000
Value of a five-night stay: NZ$5,545
Rebate per NZ$1 spent on an AMEX Card: 4.7% (NZ$1 spent = 2 Marriott Bonvoy points)

Westin Paris, Paris

Total AMEX points required: 228,000
Value of a five-night stay: NZ$4,970
Rebate per NZ$1 spent on an AMEX Card: 4.4% (NZ$1 spent = 2 Marriott Bonvoy points)

Marriott Resort Palm Jumeirah, Dubai

Total AMEX points required: 180,000
Value of a five-night stay: NZ$3,860
Rebate per NZ$1 spent on an AMEX Card: 4.3% (NZ$1 spent = 2 Marriott Bonvoy points)

Sheraton Grand Sydney Hyde Park, Australia

Total AMEX points required: 126,000
Value of a five-night stay: NZ$2,390
Rebate per NZ$1 spent on an AMEX Card: 3.8% (NZ$1 spent = 2 Marriott Bonvoy points)

Sheraton Sydney Hyde Park AMEX Points Redemption

Westin New York Grand Central, USA

Total AMEX points required: 240,000
Value of a five-night stay: NZ$4,465
Rebate per NZ$1 spent on an AMEX Card: 3.7% (NZ$1 spent = 2 Marriott Bonvoy points)

Westin New York Grand Central AMEX Points Redemption

The Ritz-Carlton, Bali

Total AMEX points required: 168,000
Value of a five-night stay: NZ$2,785
Rebate per NZ$1 spent on an AMEX Card: 3.3% (NZ$1 spent = 2 Marriott Bonvoy points)

Ritz-Carlton Bali AMEX Points Redemption

W Hollywood, USA

Total AMEX points required: 264,000
Value of a five-night stay: NZ$3,935
Rebate per NZ$1 spent on an AMEX Card: 3% (NZ$1 spent = 2 Marriott Bonvoy points)

AMEX and Marriott Bonvoy Conversion Frequently Asked Questions

What is the conversion rate of AMEX points to Marriott Bonvoy points?

The conversion rate from AMEX points to Marriott Bonvoy points is 1:1, which means for every AMEX point you have, you can convert it into one Marriott Bonvoy point. You can do this at any time, although AMEX advises the transfer can take up to 14 business days.

How do I maximize the value of my AMEX points with Marriott Bonvoy?

The best way to maximize the value of your AMEX points is to book stays of five nights with Marriott Bonvoy, especially at high-end or particularly expensive Marriott properties. This is due to Marriott's 5th-night free promotion when booking with points.

What is the downside of using my points at luxury, remote resort-type hotels like Ritz-Carlton?

While you can use your points to cover the accommodation costs at luxury resorts, additional charges such as food, drinks, and resort fees can be significantly high. These costs cannot be settled using Marriott Bonvoy points.

How many points do I need to earn for a free stay at a Marriott property?

The number of points required can vary based on the property and the time of booking. The more flexible you are, the more you can save.

What is the value of a five-night stay at different Marriott properties?

This can also vary based on the property. For instance, the value of a five-night stay at Sheraton Denarau Villas, Fiji, is NZ$6,862, while for JW Marriott, Maldives, it is NZ$19,740, based on our research in July 2023 for May 2024. However, seasons change, and all prices are subject to change.

What does 'rebate per NZ$1 spent on an AMEX Card' mean?

The rebate per NZ$1 spent on an AMEX Card is the return on your spending, calculated by comparing the value of the points you earn to the money you spend. For example, every NZ$1 spent on your AMEX Card can give you 2 Marriott Bonvoy points, and the value of these points, when used to book a stay, equals a certain percentage return on your original expenditure.

How does this compare to other reward programs like ANZ/Kiwibank/Westpac Airpoints Platinum card or ASB True Rewards and Westpac hotpoints?

Compared to these other reward programs, the return on spending for AMEX points can be much higher, often around 4-11X the rewards for every $1 spent. This makes the AMEX Membership Rewards Points particularly valuable, whereas bank-issued platinum credit cards will earn 0.8% to 0.9% of your spend as Airpoints Dollars.

What should I be cautious of when using credit cards for rewards?

While the rewards are appealing, managing your credit responsibly is crucial. If you can't or likely won't pay off the balance every month, avoiding credit cards is advisable, as the interest costs can outweigh the benefits of the rewards. The interest rates are at record highs, and you don't want to accumulate months or even years of debt.

What is the rate of earning AMEX points on local spending in New Zealand?

With the AMEX Gold Rewards Card, you typically earn 2 AMEX points for every NZ$1 spent.

Are there any New Zealand properties where I can redeem my Marriott Bonvoy points?

Marriott Bonvoy includes multiple hotel brands, and while the portfolio isn't extensive in New Zealand, there is the JW Marriot and Four Points by Sheraton in Auckland.

How does the value of AMEX points in New Zealand compare to other rewards programs?

When redeemed wisely, AMEX points tend to provide a higher rebate percentage (3% to 10%) compared to many other rewards programs such as ANZ/Kiwibank/Westpac Airpoints Platinum card (around 0.8% to 0.9%).

Can I use my Marriott Bonvoy points for other expenses at Marriott properties in New Zealand?

Marriott Bonvoy points are primarily used for booking accommodation. Other expenses like food, drinks, and resort fees usually cannot be paid for with points and would be an additional cost to consider.

What should New Zealanders be aware of when redeeming points at international Marriott locations?

Be aware of the potential for high additional expenses at luxury resorts, especially remote ones. These costs can't be paid with points. Also, consider the dynamic reward pricing used by Marriott - points required may be higher during peak times. And given the weakness of the NZD, the in-resort costs can be significant.

Are there any restrictions or issues with transferring AMEX points to Marriott Bonvoy for New Zealand cardholders?

Generally, no, but it's always best to check the specific terms and conditions related to your AMEX card. Transfers are usually straightforward and occur at a 1:1 ratio.

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