A new targeted Amex Offers deal is giving cardholders a $250 statement credit when they spend $2,500 or more on Air France-KLM flights, with bookings needing to be made by December 15, 2026. Some cardholders may instead see a version offering 25,000 bonus Membership Rewards points rather than the credit — and depending on how you value Amex points, that could be the better pick. At a typical valuation of around 1.7 cents per point, 25,000 points works out to roughly $425 in value.
The terms matter here. The booking must be made directly through the Air France or KLM website or app, the flight has to originate in the United States and be charged in US dollars, and the offer only applies to the base fare exclusions listed — things like group reservations, the Flying Blue Store, and various ancillary services are excluded. The good news on timing: you need to book by the deadline, but your actual travel can fall on later dates.
There are also a couple of useful loopholes worth knowing. Taxes and carrier-imposed surcharges on award tickets have reportedly triggered this offer in the past, and purchases of sustainable aviation fuel (which Air France sells as a way to earn status XP) have also qualified anecdotally. So even if you mostly fly on points, the deal might still be within reach.
If the offer shows up on more than one of your cards, it's worth enrolling it on the Amex Platinum specifically. That card earns 5x Membership Rewards points on airfare booked directly with airlines — an incremental return of roughly 8.5% at typical point valuations. Stack that with the statement credit and a $2,500 ticket effectively returns about $462 in value, or an 18.5% return on spending. The Platinum's trip protections are a nice backup if your plans go sideways, too.
One caveat: this iteration is weaker than previous rounds of the same offer, which required only $1,000 in spend for a $200 credit or 20,000 points. This version demands more than double the spending for a modestly bigger reward, so it mainly makes sense if you were already planning a significant Air France or KLM purchase — think long-haul business class, a family's worth of transatlantic tickets, or a big surcharge bill on an award booking. Check your Amex Offers section before booking; targeted deals like this can disappear or vary by account.
