One of the most useful point redemption options for the American Express Gold Card and Gold Charge Cardmembers is the American Express Gold Collection, which allows for a higher value on points redemption compared to the INR 0.25 when one directly adjusts points for a statement credit.
So far, American Express offered the following options for redeeming 18000 Membership Rewards Points, which would have generated INR 4500 value when just used to adjust charges against points @ INR 0.25 per point.
- Taj Vouchers = INR 0.50 value per MR point
- Amazon Gift Card = INR 0.39 value per MR point
- Statement Credit = INR 0.33 value per MR point
In the 24K Gold Collection, you could redeem 24,000 Membership Rewards points for outsized value, which would have typically got you INR 6,000 value.
- Taj Vouchers = INR 0.58 value per MR point
- Tanishq Voucher = INR 0.42 value per MR point
- Statement Credit = INR 0.38 value per MR point
American Express adds more options to the Gold Collection
American Express has announced, today, the addition of new options to the Gold Collection, where you can use your Membership Rewards points to get vouchers. Here are the new options:
- 18K Gold Collection:
- Amazon India e-Vouchers worth INR 7,000 (INR 0.39 Value per point)
- Flipkart e-Vouchers worth INR 7,000 (INR 0.39 Value per point)
- Croma e-Vouchers worth INR 7,000 (INR 0.39 Value per point)
- Myntra e-Vouchers worth INR 8,000 (INR 0.44 Value per point)
- Shoppers Stop e-Vouchers worth INR 8,000 (INR 0.44 Value per point)
- Big Basket e-Vouchers worth INR 8,000 (INR 0.44 Value per point)
- Taj e-Vouchers worth INR 9,000 (INR 0.5 Value per point)
- 24K Gold Collection:
- Amazon India e-Vouchers worth INR 9,000 (INR 0.38 Value per point)
- Flipkart e-Vouchers worth INR 9,000 (INR 0.38 Value per point)
- Croma e-Vouchers worth INR 9,000 (INR 0.38 Value per point)
- Tanishq e-Vouchers worth INR 10,000 (INR 0.42 Value per point)
- Shoppers Stop e-Vouchers worth INR 11,000 (INR 0.46 Value per point)
- Vistara e-Vouchers worth INR 11,000 (INR 0.46 Value per point)
- Taj e-Vouchers worth INR 14,000 (INR 0.58 Value per point)
As you would note, new options are now available, at various values. One of the most interesting additions is a Vistara Gift Card, which you can use to redeem for your travels, and your amex points can be used at INR 0.46 value per point.
Statement Credit Option going away May 3
One of the options with the highest take rate amongst customers of the Gold card collection used to be the Statement credit option, which is being retired on May 3, 2022. So, if you intend to use your points for statement credits, you should call or use the online website to do so before May 2, 2022.
Ultimately, American Express has added some new options to the Gold Card collection, which are available effective immediately, and covers a vast variety of options for customers interested in redeeming their Membership Rewards points for vouchers. However, the hand that giveth also taketh away, and American Express will terminate the option to burn points for statement credit on May 3, 2022.
What do you think of the new options from American Express added for the 18K/24K Rewards Collection?
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