Amex Gold vs Platinum: Points Earning and Redemption
Both cards earn Membership Rewards points, which are among the most valuable flexible travel currencies available. The key difference is which categories earn the most and how quickly each card builds a points balance you can actually use.
Earn Rates by Category
| Spending category | Gold | Platinum |
|---|---|---|
| Restaurants worldwide | 4x | 1x |
| U.S. supermarkets (up to $25k/year) | 4x | 1x |
| Flights booked direct with airline | 3x | 5x |
| Flights via Amex Travel | 3x | 5x |
| Hotels via Amex Travel | 1x | 5x |
| Everything else | 1x | 1x |
The Gold dominates everyday spending. The Platinum dominates travel booking. Neither card earns more than 1x on general purchases like gas, insurance, or utilities, which is why many cardholders pair them with a 2x or 3x flat-rate card for non-bonus categories.
How Many Points Will You Earn Per Year?
Based on a typical household that spends $700/month on dining and groceries and $4,000/year on flights.
Gold card
$8,400/year dining/groceries at 4x = 33,600 pts$4,000/year flights at 3x = 12,000 pts$5,000/year other at 1x = 5,000 pts
~50,600 pts/year
Worth $500 to $1,000+ depending on redemption
Platinum card
$8,400/year dining/groceries at 1x = 8,400 pts$4,000/year flights at 5x = 20,000 pts$5,000/year other at 1x = 5,000 pts
~33,400 pts/year
Worth $334 to $668+ depending on redemption
The Gold card earns about 50% more points per year for this typical profile. The Platinum only overtakes the Gold in points earned if flights exceed roughly $8,000 to $10,000 per year, at which point the 5x rate generates enough bonus points to overcome the Gold's dining advantage.
How to Redeem Membership Rewards Points
The value of your points depends almost entirely on how you redeem them. Cash back gives the worst value. Transfer to airline miles gives the best.
Transfer to airline miles or hotel points
Up to 2 cents/ptThe highest-value option. Transfer 1:1 to Air Canada Aeroplan, British Airways Avios, Delta SkyMiles, Virgin Atlantic Flying Club, Singapore Airlines KrisFlyer, and others. The value depends on what award you book. Business class redemptions on partner airlines routinely yield 2 to 3 cents per point or more. Economy redemptions average around 1.2 to 1.5 cents per point.
Book travel through Amex Travel portal
1 cent/ptPay for flights, hotels, or rental cars at 1 cent per point. This is convenient but gives up the upside of transfer partners. Better than cash back but not optimal for maximizers. Platinum cardholders get 35% of their points back when using Pay with Points for flights on their selected airline or any first or business class flight, effectively raising the rate to 1.54 cents per point.
Statement credits
0.6 cents/ptRedeeming points for cash back or statement credits gives only 0.6 cents per point. This is the worst possible use of Membership Rewards points. If you need cash, you should not be earning Membership Rewards. Consider a cash-back card instead.
Gift cards
~0.8-1 cent/ptSome gift card options offer decent value, especially during promotions. Amex occasionally offers gift card deals where you get more than face value per point. Worth checking if you are redeeming a large balance and do not have upcoming travel.
Membership Rewards Transfer Partners
Amex has more transfer partners than most competing programs. All transfers are available from both Gold and Platinum at 1:1 unless noted.
Airline partners (select)
- - Air Canada Aeroplan (1:1)
- - British Airways Avios (1:1)
- - Delta SkyMiles (1:1)
- - Virgin Atlantic Flying Club (1:1)
- - Singapore Airlines KrisFlyer (1:1)
- - Air France/KLM Flying Blue (1:1)
- - Iberia Plus (1:1)
- - Cathay Pacific Asia Miles (1:1)
Hotel partners
- - Hilton Honors (1:2)
- - Marriott Bonvoy (1:1)
- - Choice Privileges (1:1)
Tips for transfers
- - Transfers are instant for most partners
- - Points never expire while the account is open
- - Always search award availability before transferring
- - Transfers cannot be reversed
Points Strategy: Gold vs Platinum
The best points strategy depends on what you want to do with them. If your goal is a business class flight to Europe or Asia, the Platinum is a better engine because it earns 5x on the flight spending that builds your balance fastest. If your goal is free economy flights or hotel stays funded by everyday spending, the Gold earns more points faster through dining and groceries.
Scenario: Save for a business class flight
A round-trip business class ticket to Europe via transfer partners often costs 60,000 to 100,000 miles. At Gold card earning rates of 50,000+ points per year on typical spending, you could fund that trip in under two years. At Platinum earning rates of 33,000 points per year on the same spend, it takes closer to three years.
However, the Platinum earns much faster if you have high annual flight spend. At $10,000 per year on flights, the Platinum generates 50,000 points from flights alone, matching the Gold's total from all categories combined.
What Are Membership Rewards Points Worth?
| Redemption method | Value per point | Best for |
|---|---|---|
| Partner transfer (premium cabin) | 1.5 to 3 cents | Business/first class flights |
| Partner transfer (economy) | 1.2 to 1.5 cents | Domestic economy flights |
| Amex Travel portal | 1 cent | Convenience, Platinum 35% bonus |
| Gift cards | 0.8 to 1 cent | Non-travel needs |
| Statement credits | 0.6 cents | Last resort only |
Amex Membership Rewards points are widely regarded as worth 1 to 2 cents each on average across redemptions. For purposes of comparing cards, most analysts use 1 cent as a conservative baseline.