Exchange AmEx Points for More British Airways Miles

Through May 31, American Express Membership Rewards members will earn a 50 percent bonus when exchanging points for Avios (formerly known as miles) in the British Airways Executive Club program. So for every 1,000 Membership Rewards points, you'll get 1,500 Executive Club miles.

Deal or No Deal

If you want British Airways Avios points and you have Membership Rewards points, this offer is for you—a 50 percent bonus is definitely a difference-maker.

The question, though, is whether there's any good reason to increase your investment in British Airways' program. There certainly are reasons not to.

The recent "enhancements" to the program have been mostly downgrades for U.S. members.

And the outsized fuel surcharges on award tickets continue to seriously undermine the value of miles (or now, Avios) earned in the program.

Still, there are ways to circumvent the value roadblocks—by, for example, redeeming for flights on some partner airlines (those with no fuel surcharges) and for shorter flights (lower award prices).

Many Americans were lured into the program on the strength of the generous sign-up bonuses for the British Airways Visa credit card.

This is a look-before-you-leap promotion. If you have a redemption plan that avoids the program's pitfalls, or just need a few extra Avios to reach an award threshold, the transfer bonus is a compelling offer.

Otherwise, there are plenty of other options for using your Membership Rewards points.

Reader Reality Check

Does this deal make sense for you?

How will you redeem your Avios?

This article originally appeared on FrequentFlier.com.

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