American Express (Amex) is refreshing the 18 Karat and 24 Karat Gold Collection starting 1 February 2020. With this change, Amex has introduced Taj Vouchers as a redemption option under 18K and 24K Gold Collection. Along with this, it has also devalued the Membership Reward Points for redemption against Amazon voucher and Statement Credit.
What is American Express (Amex) Gold Collection?
Let’s look into the new changes announced by American Express in detail.
Amex Gold Collection
Amex Gold Collection comes in two flavors: 18 Karat and 24 Karat.
18 Karat Gold Collection
18 Karat Gold Collection allows you to redeem 18,000 Membership Reward Points for various redemption options. Below table lists the various redemptions options and their old & new value.
| Redemption Option | Old Value | New Value |
|---|---|---|
| Statement Credit | Rs. 7,500 | Rs. 6,000 |
| Amazon | Rs. 8,000 | Rs. 7,000 |
| Tanishq | Rs. 7,500 | N/A |
| Amex Domestic Travel Voucher | N/A | Rs. 7,000 |
| Taj Voucher | N/A | Rs. 9,000 |
24 Karat Gold Collection
24 Karat Gold Collection allows you to redeem 24,000 Membership Reward Points for various redemption options. Below table lists the various redemptions options and their old & new value.
| Redemption Option | Old Value | New Value |
|---|---|---|
| Statement Credit | Rs. 10,000 | Rs. 9,000 |
| Amex Domestic Travel Voucher | Rs. 11,000 | N/A |
| Tanishq | N/A | Rs. 10,000 |
| Bose Sound Link Color II Bluetooth Speakers | Rs. 11,500 | N/A |
| Taj Voucher | N/A | Rs. 14,000 |
Bottomline
Introduction of Taj Vouchers is a fantastic move by Amex and it will please those who like Taj properties. Redemption of reward points for Taj Vouchers fetches a value of Rs. 0.58 per Membership Reward Point which is quite amazing. However it’s also evident that Amex doesn’t want you to redeem reward points for statement credits and Amazon vouchers. The value if reward points in case of Amazon voucher plummets to Rs. 0.38 per Membership Reward Point which is 34% depreciation compared to Taj Vouchers.
Note that these changes go in effect from 1 February 2020 and hence you have 3 days to redeem reward points at the current rate. I just redeemed my reward points for Amazon vouchers and the vouchers were emailed to me instantly.
What do you think of the changes to American Express Gold Collection? Are you going to redeem the reward points before the changes kick in? Let me know by leaving a quick comment below.
