AMERICAN EXPRESS: Adds Qatar Airways, but devalues Singapore and Emirates rates.

For Australian and New Zealand AMEX card holders, this is mixed news.

In the points and miles games, adaptable points earners like the range of American Express credit and charge cards are a great way to collect points, from both first-time card member bonus points and credit card spend.

The downside is the number of airlines they, and in this case, AMEX have for partners, and the points exchange rates they offer when you transfer points to the partner airline.

New Partners

AMEX Australian cards have brought on two new airlines from August 2023. Qatar Airways joins enabling you to convert your AMEX points into Avios, their new(ish) frequent flyer currency. This is great, as Avios are also used by British Airways, Iberia and Aer Lingus. For Australian cardholders, the conversion rate is 2 AMEX Membership Rewards points for each Avois, and for New Zealand members, it will be 3 Membership Rewards for every Avios.

Also joining is Hawaiian Airlines, with a conversion rate of 2 Membership Rewards points for each single Hawaiian Mile for both Australian and New Zealand members.

Devaluation

But that is the end of the good news. AMEX Australia is devaluing transfer rates for two other choice airlines. Starting October 4, American Express Membership Rewards points will convert to Singapore Airlines KrisFlyer and Emirates Skywards points at a ratio of 3 to 1. That’s a reduction from the previous 2 to 1. So if my maths is correct, that’s a roughly 33% devaluation. Boooo!

2PAXfly Takeout

As a user of the Singapore Airlines Krysflyer program for the collection and redeeming points on largely Star Alliance members, the devaluation is a great disappointment. I’m not much of a user of the Emirates program, although the devaluation here is also disappointing.

The addition of Qatar will be interesting. Qantas frequent flyers already have the ability to redeem points for Qatar flights through the Qantas website. However, if relations remain frosty between Qatar and Qantas, having direct access to transfer AMEX points to the Qatar Avios earning program might be a good backstop.

Any new airline partner on the AMEX Membership Reward program is a benefit, so welcome to Hawaiian.

For more on this and advice, read ET or Points Hacks