Emirates Transfer Ratio Devaluations Jump the Pond — Here’s When and the New Ratio Emirates Transfer Ratio Devaluations Jump the Pond — Here’s When and the New Ratio

Emirates Transfer Ratio Devaluations Jump the Pond — Here’s When and the New Ratio

Beginning February 1, 2026, those earning Membership Rewards points in the UK will see a sharp decline in the value of their points when redeeming with Emirates. Amex UK is lowering the 4:3 transfer ratio to Emirates Skywards to a 2:1 ratio. Here's how that impacts how many Amex points you need to book an award.