American Express is introducing Airbnb into its travel rewards platform.

On Thursday, two companies announced a new partnership that will integrate over 1 million Airbnb accommodations into American Express's travel portal, allowing cardholders to earn rewards when booking these stays. However, members are not yet able to use their points to pay directly for the Airbnb booking fees.

After this launch, Airbnb rental properties will be added to American Express's hotel product portfolio. This portfolio includes over 3,400 hotels and properties from its Fine Hotels + Resorts and The Hotel Collection projects.

American Express members who hold a Personal or Business Platinum card can now use their annual $600 accommodation discount allowance – previously known as the Hotel Discount – for more premium Luxe accommodations (identified by Airbnb). In addition, after completing a reservation through Luxe, they will enjoy a new $250 bill discount for eligible Airbnb Experiences stays.

Airbnb, the person in charge of partnerships, stated in a press release: "We are delighted to bring more choices and flexibility to American Express cardholders through this exclusive collaboration. Both of our companies are committed to helping people travel more and better, and this partnership helps people see more of the world by making travel more rewarding."

Member points vary depending on the type of card:

• Individual and Business Platinum Card members who prepay Airbnb through Amex Travel can earn 5 times the member reward points.
• Individual version Classic Green card members who make travel bookings directly through third-party websites, including Airbnb, can earn 3 times the usual number of points.
• Other eligible reward plan members who prepay Airbnb through Amex Travel can earn double the number of points.

As competition among high-end credit cards continues to intensify, these changes have also followed.

Last year, American Express raised the annual fee for its premium Platinum cards to $895. In response, the company has been investing in benefits for cardholders, such as new lounges at airports and large events, as well as experience venues, in order to attract more high-spending customers.

Earlier this month, the company announced an expansion of the Centurion Lounges lounge network, planning to renovate the existing four lounges and build new lounges at Newark Liberty International Airport and London Heathrow Airport. The Newark lounge will become the largest in its network.

This collaboration also comes at a time when Americans continue to prefer travel and luxury experiences, despite rising prices for air tickets, gasoline, and hotels. A recent study by the travel insurance company Squaremouth found that, despite the higher costs, more than half of Americans indicated that their travel plans remained unchanged this summer.