Using Amex Membership Rewards Points in Australia? Major Changes Are Now Live

If you use American Express Membership Rewards (MR) points in Australia, the landscape has officially changed.

As of December 15, 2025, Amex has rolled out new airline transfer ratios across several major frequent flyer programs. These changes significantly reduce the value of MR points when converting them to airline miles—especially for premium international travel.

For many cardholders, this update isn’t just a tweak. It’s a clear signal to reassess whether holding onto points still makes sense, or if selling Amex points for cash is now the smarter option.

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New Amex Membership Rewards Airline Transfer Rates (Australia)

The following transfer ratios are now in effect:

• British Airways Avios: 3,000 MR → 1,000 Avios
• Cathay Pacific Asia Miles: 7,500 MR → 2,500 Asia Miles
• Emirates Skywards: 4,000 MR → 1,000 Skywards Miles
• Malaysia Airlines Enrich: 1,500 MR → 500 Enrich Miles
• Qatar Airways Privilege Club (Avios): 750 MR → 250 Avios
• Virgin Atlantic Flying Club: 3,000 MR → 1,000 Virgin Points
• Thai Royal Orchid Plus: Transfers no longer available
• Singapore Airlines KrisFlyer: Remains unchanged at 3:1

With most partners now operating at reduced ratios, the buying power of MR points has noticeably declined.

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What These Changes Mean for Australian Cardholders

For years, Amex Membership Rewards points were prized for their flexibility. That flexibility still exists—but it now comes at a higher cost.

Key Impacts:

• You need significantly more MR points for the same flights
• Premium cabin redemptions are harder to justify
• Some airline partners are no longer available at all
• Points may expire or devalue further while you wait

In short, MR points are becoming less predictable as a long-term travel currency.

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Emirates, Qatar & Asia Miles: The Biggest Losers

Popular international programs have been hit especially hard.

• Emirates Skywards now requires 4,000 MR points for just 1,000 miles
• Asia Miles and Virgin Atlantic follow the same reduced structure
• Qatar Airways Avios, while still transferable, now deliver lower value per MR point

For travelers who were saving points for luxury or long-haul travel, the value gap is now impossible to ignore.

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Should You Still Transfer Points — or Is It Time to Sell?

Now that the December 15 changes are live, Amex cardholders face a clear decision.

Transferring Points May Still Make Sense If:

• You have an immediate booking in mind
• Award availability is confirmed
• You’re topping up a small miles balance

Selling Points Makes More Sense If:

• You’re unsure when you’ll travel
• You don’t have a specific airline or route planned
• You want to avoid future devaluations
• You prefer cash over restricted airline redemptions

At MileageSpot, many Australian cardholders are choosing to sell Amex Membership Rewards points for cash instead of absorbing lower transfer value.

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Why Selling Amex Points Is Gaining Popularity in Australia

• Cash value doesn’t devalue overnight
• No blackout dates or airline restrictions
• No pressure to book before the next rule change
• Simple, fast, and transparent process

Instead of letting points lose value quietly, selling allows you to lock in value today.

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Final Thoughts

The December 15, 2025 Amex transfer changes mark a turning point for Membership Rewards users in Australia.

While points can still be useful, they now require more planning, more flexibility, and more points than ever before. For many, the smarter move is stepping away from airline transfers altogether.

If you’re holding Amex MR points and unsure what to do next, selling your points for cash may offer more certainty than chasing diminishing travel rewards.

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