American Express (Amex) India just rolled out the Double Rewards offer on American Express Platinum (Metal) Card. Under this offer Amex is offering double reward points on select categories as well as double value of reward points. This offer is valid for three months starting today. Let’s dive into the details to know more about this offer.
- Offer: 2X Membership Reward Points & 2X Value on Amex Platinum Card
- Period: 9th April 2020 to 30th June 2020
- Type: Available for all Amex Platinum (Metal) Card, no enrollment required
- Fulfillment: Bonus reward points would be credited along with normal points
- Other T&C:
- The Offer is applicable only on American Express Platinum (Metal) Cards issued in India.
- Not valid on American Express Corporate Cards.
- Source: Email
Double Reward Points Offer
Through “Double Reward Points Offer”, card members can earn double reward points on selected categories like online shopping, groceries, healthcare and daily essentials. However for fuel spends, card members earn only 1 additional reward point for every Rs. 100 spent. International spends becomes even more rewarding due to this offer and card members can earn 15 reward points for every Rs. 100 spent overseas. However keep in mind that the forex markup charges are in tune of ~4.5% and hence net reward rate would be lower.
Double Value Offer
Not only double reward points, but card members can also enjoy double value of points if they choose to pay (or part-pay) for any item on their card statement using Select & Redeem. Select & Redeem feature in Amex mobile app where you can select any transaction and pay for the same using membership reward points.
With this, while earlier 1 membership reward was equivalent to Rs. 0.25, the value 1 membership reward point is bumped to Rs. 0.50. Quite amazing, isn’t?
Below table sums up the overall reward points card members can earn per Rs. 100 spent and corresponding reward rate if opted for Select & Redeem.
|Category||Reward Points*||Reward Rate†|
|Online shopping, groceries, healthcare and daily essentials||5||2.5%|
* Membership Reward Points per Rs. 100 spent
† On Select & Redeem
Due to COVID-19 lockdown in India, the travel has been restricted severely. And cards like Amex Platinum shine in the travel segment, this offer brings some respite to the card members by improving the reward rate for other daily spends. This might also help Amex in curbing the huge card cancellation rate which they might be facing as card members are finding it really difficult to get value out of this high annual fee card right now.
However I am really disappointed that Amex has restricted this offer for their top tier Amex Platinum Card and has ignored other cards. I wish Amex should have rolled out similar offers for other card members too. I am keeping my fingers crossed!
What do you think of this offer from Amex? Do you think Amex will roll out similar offer for other cards? Let me know by leaving a quick comment below.