Amex Membership Rewards: new cards now get their own rewards account, linked through Manage Connections

American Express updated its Membership Rewards terms and conditions in October 2026, and one change affects anyone who opens a second Amex card: points from a new card no longer land in your existing balance on their own.

The document is marked "Last Updated: October 2026," and the "Detail of Changes" on page 19, under "Rewards Account Linking and Redemption Options," says the change is "Effective immediately" . The notice does not give a specific calendar date.

What the terms say

The new language says: "Each Product enrolled in the Rewards Program is linked to a Rewards Account."

It continues: "When you open a new Product, a new Rewards Account will be created and linked to that Product."

In other words, a new card starts with its own points balance. You can change that. The terms say you may "choose to link some or all of your Products to the same Rewards Account." You do it online or in the Amex App by logging in and going to the "Manage Connections" option .

Once cards are linked, "points earned on each linked Product will be consolidated into a single points balance."

Who is affected

One Mile at a Time reported on Oct 15, 2026 that the change applies to newly opened cards, and that existing linked cards are unaffected (lead: One Mile at a Time, https://onemileatatime.com/). The Amex page we read does not spell out that limit, so check how your own cards are connected rather than assuming.

If you hold a single Membership Rewards card, nothing changes for you today. If you open another one, expect two balances until you link them.

Why it matters

Points sitting in separate Rewards Accounts cannot be spent or transferred as one pool. Someone planning a transfer to an airline or hotel partner could find the balance is smaller than expected, because part of it is on the new card's account.

Amex-to-Hilton transfers, for example, run at 1:2, so a shortfall in the visible balance changes how many Hilton points you can move.

What to do

• After approval of any new Amex card, open Manage Connections and see which account the card sits in.
• Link the cards you want pooled before earning on them, so the points consolidate into one balance.
• Before any transfer, check the balance on the exact Rewards Account you are transferring from.

Dates and program rules are as of Oct 17, 2026; confirm on the American Express Membership Rewards terms and conditions page. Things change, so check the official Amex terms and your Manage Connections screen before you act.

Sources

• https://www.americanexpress.com/content/dam/amex/us/rewards/membership-rewards/mr-terms-conditions-october-2026.pdf
• lead: https://onemileatatime.com/