Amex bonuses: more points do not mean twice the value

Three different mechanisms

A welcome bonus increases MR when its conditions are met. A transfer bonus increases the partner currency received. An award discount instead reduces the points needed for a booking. These are not three credits to add together: start with your balance, conversion rate and final price. None of this guide’s example percentages is presented as an offer running today.

Apply the Italian rate before the bonus

At Italy’s ordinary 5:4 rate, 100,000 MR first become 80,000 British Airways or Iberia Avios. A hypothetical 40% bonus on those Avios would produce 112,000, not 140,000; 30% would produce 104,000. Formula: MR × 4/5 × (1 + bonus). For a real promotion, first check the bonus calculation base, caps and rounding.

A discount does not create points

If a hypothetical 80,000-Avios award were discounted by 25%, it would cost 60,000 Avios. Your balance would not increase; you would spend 20,000 fewer Avios. That is a 25% discount on the award, not 25% extra points. Do not assume it combines with the previous transfer bonus unless both sets of conditions allow it.

Check eligibility

Offers may be restricted to particular holders, cards, markets or periods. A US webpage does not establish eligibility for an Italian card. Check registration, receiving account, dates, bonus cap and posting. Search the award before transferring too: a partner transfer cannot be undone simply because the desired seat disappears.

Measure usable value

The final comparison includes taxes, surcharges, card costs and a cash alternative. Shop with Points provides a reference of EUR0.004 per MR under its conditions. It need not be the best redemption, but it is a concrete comparison. Without a realistic mileage use, a large promotional percentage may merely move the risk to another balance.