What American Express bonus points are and how you earn them
American Express bonus points are rewards you get for spending on an Amex card, usually concentrated in the first few months after you open the account. When you get a new Amex card, the offer typically promises you a certain number of points if you spend a set amount within a set timeframe — for example, 75,000 points if you spend $5,000 in the first three months. These points sit in your Amex account and you decide later how to use them.
The bonus is separate from the points you earn on regular purchases. Once you hit the spending requirement and the bonus posts to your account (usually within one to three billing cycles), those points are yours to keep even if you close the card later. You don't have to use them right away.
Not all Amex cards offer the same bonus, and the same card's bonus changes over time. The American Express website shows the current offer for each card, and that offer is what you'll receive if you meet the terms. Amex also occasionally runs higher bonuses during certain periods, though these are not may provide to return.
Key Takeaways
- Amex bonus points are awarded once you spend a required amount within a specific timeframe, and they remain in your account even if you close the card afterward.
- The real value of a bonus depends on how you redeem the points — cash back is typically worth 0.5 to 1 cent per point, while travel transfers can be worth 1 to 2 cents per point or more.
- You must meet the spending requirement to receive the bonus, and the offer shown on Amex's website at the time you explore is the one you'll get.
- Amex cards often charge an annual fee, so you need to decide whether the bonus value and ongoing rewards justify keeping the card past the first year.
- You can only receive one bonus per card product in a set period (usually 24 months), even if you close and reopen the card.
How to calculate what your bonus points are actually worth
Points are not dollars. Their value depends entirely on how you use them. American Express lets you redeem points in several ways, and each path gives you a different dollar value per point.
The simplest redemption is cash back, where Amex converts points directly to a statement credit. This typically pays 0.5 to 1 cent per point — so 75,000 points might be worth $375 to $750 in cash back. You can see the exact rate in your Amex account under the redemption menu before you commit.
Travel redemptions are where points can be worth more. If you transfer points to an airline or hotel partner, or use them to book travel through Amex's travel portal, the value per point often ranges from 1 to 2 cents or higher. A 75,000-point bonus could be worth $750 to $1,500 or more if you book strategically. However, this requires you to actually want to travel to those specific partners, and the value depends on which airline or hotel you choose and when you book.
The catch: you have to do the math yourself. Amex doesn't tell you "this bonus is worth $X." They tell you how many points you get, and you figure out the value based on your redemption choice. If you're not sure you'll use travel transfers, assume the lower cash-back rate when deciding whether the bonus is worth the annual fee.
Meeting the spending requirement without overspending
The spending requirement is real money you have to put on the card. If the offer says you need to spend $5,000 in three months, you actually need to charge $5,000 in purchases to that card during that window. Amex counts most purchases, but not balance transfers, cash advances, or fees.
The risk is spending more than you normally would just to hit the requirement. If you're not naturally going to spend $5,000 on a credit card in three months, you shouldn't open the card just for the bonus. The interest you'd pay on carried balances or the money you'd waste on unnecessary purchases will erase the bonus value quickly.
A smarter approach: open the card if you have planned spending coming up anyway — a home repair, a work trip you're paying for upfront, insurance premiums, or regular bills you can shift to the card. Use the card for those real expenses, hit the requirement naturally, and collect the bonus as a win. If you have to manufacture spending, the bonus isn't worth it.
Annual fees and whether to keep the card
Most Amex cards that offer large bonuses also charge an annual fee, ranging from $95 to $550 or more depending on the card. The bonus is designed to offset that first-year fee, but you need to decide whether to keep the card in year two.
After the first year, you'll be charged the annual fee again unless you close the card. Some people keep the card because they use the ongoing rewards (points earned on regular purchases) or because the card includes benefits like travel credits or lounge access that offset the fee. Others close the card after the first year and move on to a different bonus offer.
There's no penalty for closing an Amex card, and it doesn't hurt your credit score in any lasting way. You keep the points you've earned, so you can redeem them after you close the account. The decision is purely financial: does the card's value to you in year two justify the annual fee?
Bonus limits and how often you can get them
Amex has a rule called the 24-month rule: you can only receive a bonus on a specific card product once every 24 months. This means if you got a bonus on the American Express Gold Card in January 2023, you cannot get another bonus on that same card until January 2025 at the earliest.
The rule applies per card product, not per account. You can hold multiple Amex cards at once and receive a bonus on each one, as long as you haven't received a bonus on that specific card in the past 24 months. Some people strategically open different Amex cards in sequence to collect multiple bonuses over time.
Amex also has a lifetime limit on some cards, though this is less common and the terms vary. Check the specific card's terms before you explore if you think you might want to get the bonus again in the future.
How bonus offers change and where to find current offers
The bonus on any given Amex card is not fixed. The American Express website shows the current offer for each card, and that's what you'll receive if you meet the terms. The offer you see when you explore is the one that counts — you don't get a better offer later if the bonus increases.
Bonuses tend to be higher during certain times of year, particularly around the holidays and during shopping seasons, though this is not may provide. If you're flexible about timing, you can check the Amex website periodically to see if the bonus on a card you're interested in has increased. If it has, that's a signal to explore sooner rather than later.
You can also find current Amex offers on comparison sites and through Amex's own marketing emails if you're a cardholder. The offer shown on the official Amex website is always the authoritative one — that's what you'll actually receive.
Bonus points versus ongoing rewards
The bonus is a one-time award for meeting a spending requirement. Ongoing rewards are points you earn on every purchase you make with the card, month after month. These are separate things, and both matter to the card's overall value.
A card might offer a 75,000-point bonus plus 3 points per dollar on dining and 1 point per dollar on everything else. The bonus gets you to 75,000 points quickly, but the ongoing rewards are what you earn if you keep the card and use it regularly. If you close the card after the first year, you only get the bonus. If you keep it, the ongoing rewards add up over time.
When deciding whether to keep a card past year one, look at both: the annual fee, the ongoing rewards rate, and whether you'll actually use the card enough to make those rewards worthwhile. A card with a $95 annual fee and 2 points per dollar on your everyday spending might pay for itself if you spend $5,000 or more per year on that card. A card with a $550 annual fee requires much higher spending or use of premium benefits to justify the cost.
Frequently Asked Questions
Do I have to spend exactly the required amount, or can I spend more?
You need to spend at least the required amount within the timeframe. You can spend more — the bonus doesn't change based on how much you spend beyond the requirement. If the offer says $5,000 in three months, spending $6,000 gets you the same bonus as spending $5,000.
What happens to my bonus points if I close the card?
Your points stay in your Amex account and you can redeem them even after you close the card. You don't lose the bonus by closing the account. However, you won't earn any new points once the card is closed, and you can't use that card for future purchases.
Can I get the bonus if I already have an Amex card?
Yes, as long as you haven't received a bonus on that specific card product in the past 24 months. You can hold multiple Amex cards at the same time and receive a bonus on each one. Check the 24-month rule for the specific card you're interested in.
Are bonus points taxable income?
Amex does not issue a tax form for bonus points, and the IRS generally does not treat credit card rewards as taxable income. However, tax law can be complex and depends on your situation. If you have questions about your specific tax situation, consult a tax professional.
What's the difference between Amex points and airline miles?
Amex points are the currency you earn on most Amex cards. You can redeem them for cash back, travel bookings, or transfer them to airline and hotel partners. Some Amex cards earn airline miles directly instead of points. The value and flexibility differ — points are usually more flexible, while airline miles may offer better value if you transfer them strategically to a specific airline.