A 20% Membership Rewards Transfer Bonus to Aeromexico—Worth It?

Another transfer bonus just landed, and on paper it looks like a big one. American Express is offering a 20% bonus when you move Membership Rewards points to Aeromexico. The headline ratio gets close to 1:2, which sounds fantastic—until you dig into what Aeromexico miles actually get you. Let's break down the math and whether this is worth your points.

The Math Behind the 20% Bonus

Normally, Amex transfers to Aeromexico at a 1:1.6 ratio. That means every Membership Rewards point becomes 1.6 Aeromexico Rewards Points. Add the 20% bonus, and you're looking at 1.92 Aeromexico points per MR point—just shy of 1:2.

That's a strong transfer ratio on its face. But the ratio only tells part of the story. What matters is what those Aeromexico points can actually book.

Why the Headline Ratio Can Be Misleading

Aeromexico's award chart isn't particularly competitive for most redemptions. Even at 1:1.92, you may find that the points required for a given flight are higher than what you'd pay with other programs—or that the cash price is low enough that using miles doesn't make sense.

In other words, a great transfer ratio doesn't automatically equal a great deal. You have to compare the award price against the cash fare and against other ways to use your Membership Rewards points.

• Check the Aeromexico award price for your specific route before transferring.
• Compare that award price to the cash fare—if the cash fare is low, the redemption value may be poor.
• See whether another Amex transfer partner or a different award program offers a better deal for the same trip.

Who Should Consider This Bonus

This offer makes the most sense if you already have a specific Aeromexico redemption in mind and you've confirmed that the award price is reasonable. It could also work if you're topping off an existing Aeromexico balance for an award you're close to booking.

If you're just speculating or transferring points 'because it's a bonus,' that's usually a recipe for regret. Transfers are one-way, so once the points leave your Amex account, there's no undo button.

Timing and Other Options

The promotion runs through October 30, 2026. That gives you some time to research redemptions, but don't rush. Transfer bonuses come and go, and Amex frequently runs them for various partners.

Before you transfer, check whether there's a current bonus to a program you'd actually use—sometimes a smaller bonus to a more useful airline can deliver more value than a bigger bonus to a less competitive chart.

Bottom Line

• 20% bonus lifts the Amex-to-Aeromexico ratio from 1:1.6 to 1:1.92 through October 30, 2026.
• A high transfer ratio doesn't guarantee good value—Aeromexico's award chart is often uncompetitive.
• Only transfer if you have a specific, researched redemption in mind.
• Transfers are irreversible, so double-check before you click.

Common Questions