American Express Updates its 18K & 24K Gold Collection

American Express India has updated its redemption options for the 18K & 24K Gold collection and added few options but removed the statement credit option.

This is good news for majority of people who will now have more redemption options to select. On the other hand, people who used to redeem through statement credit option, this is bad news but since the redemption value is also increased on the redemption options, there is something to cheer for all.

Overview of Gold Collection

Folks using American Express must be aware about the 18K & 24K Gold collection redemption options for American Express Gold Cards and American Express Membership Rewards cards.

The typical redemption option for a single reward point is Rs 0.25.

However, when you are patient with redemptions and are able to collect 18K / 24K points and then plan to redeem the options, the value of the redemption options increase till Rs 0.58 which ofcourse depends upon the redemption option you decide.

Amex Updates Gold Collection Rewards

New Versus Old

The number of options to redeem have definitely increased and are at various points. Lets go through the changes in both the collections.

Changes in 18K Gold Collection

Under the 18K Carat gold collection, you could redeem 18000 Membership reward points from below 3 options:

  • Taj Vouchers worth Rs 9000 (INR 0.50 / MR point)
  • Amazon Gift Card worth Rs 7000 (INR 0.39 / MR point)
  • Statement Credit worth Rs 6000 (INR 0.33 /MR point)

After the new changes, many more options at higher value are added and infact all are e-vouchers, which I love to use. Another post will be there on e-vouchers later!!!

After the new additions, below brands e-vouchers available under 18 Carat Gold collection:

  • Amazon – INR 7000 (INR 0.39 / MR point)
  • Flipkart – INR 7000 (INR 0.39 / MR point)
  • Croma – INR 7000 (INR 0.39 / MR point)
  • Myntra – INR 8000 (INR 0.44 / MR point)
  • Shoppers Stop – INR 8000 (INR 0.44 / MR point)
  • Big Basket – INR 8000 (INR 0.44/ MR point)
  • Taj – INR 9000 (INR 0.5 / MR point)

Changes in 24K Gold Collection

Similarly under the 24K Carat Gold collection, we had below 3 options to redeem at higher value:

  • Taj Vouchers worth Rs. 14000 (INR 0.58 / MR point)
  • Tanishq Voucher worth Rs. 10000 (INR 0.42 / MR point)
  • Statement Credit worth Rs. 9000 (INR 0.38 / MR point)

As per the new redemption options, below brands e-vouchers are added to the 24 Carat Gold collection:

  • Amazon – INR 9000 (INR 0.38 / MR point)
  • Flipkart – INR 9000 (INR 0.38 / MR point)
  • Croma – INR 9000 (INR 0.38 / MR point)
  • Tanishq – INR 10000 (INR 0.42 / MR point)
  • Shoppers Stop – INR 11000 (INR 0.46 / MR point)
  • Vistara – INR 11000 (INR 0.46/ MR point)
  • Taj – INR 14000 (INR 0.58 / MR point)

My take on this

I think this shall add multitude of options to redeem the points as per wish and convenience and since it increases the redemption value for each point, this adds more options.

Although the statement credit option has moved out, I think it will not make any major impact since the redemption value was lower and there were no plans to use that option from my side and would also not have suggested the same.

I have done the calculations for you guys for each option showing the value per point helping you decide where you can maximize your Bachat.

How I intend to use my points

BachatXpert Amex Gold Collection Rewards

Personally, I already have a lot of Amazon balance added to my account & there were no plans to travel (& hence Taj / Vistara vouchers not required), so was waiting for the right options to redeem my 36000 accumulated points over last couple of years and here came the new added options to redeem.

I plan to use the same for Big Basket vouchers which would mean around Rs 16000 of free groceries for me in these inflationary times adding to my savings. 

Keep reading. More Bachat on the way!!!!

Our Score

Add a Comment

Your email address will not be published. Required fields are marked *