The American Express Membership Rewards and Continental partnership is coming to an end on 9/30/2011. If you have a Star Alliance reward redemption in mind and there is availability, you have until Friday to move your Membership Rewards points over.
The partnership is coming to an end due to the United / Continental merger. Chase financed both United and Continental’s exit from bankruptcy and with the battle in the credit card department that Chase and American Express have been waging in the last year, the partnership was doomed the minute the merger was announced.
The good thing about transferring points from American Express to Continental is that the points are transferred instanteously. After September 30th, for Star Alliance reward redemption, American Express members will have to transfer points to either Air Canada or ANA to redeem, but their reward pricing and fees charged are not as good as Continental, so this is a huge lost for American Express members.