During this ongoing crisis, American Express has recently launched a new promotion named Double Rewards for American Express Platinum Card Holders. Under this promotion, holders of this card can earn 2x reward points on select categories and can also redeem for 2x value. The offer is valid from April 21 to July 20, 2020. Here are the complete details of the offer-
Amex Double Rewards Offer Details
- Eligible Card: American Express Platinum Card. Corporate Card Holders are not eligible.
- Period: April 21 to July 20, 2020
- Enrollment: Not required. It’s already activated for all Platinum card holders.
- Cap: No Maximum cap
Earning 2x Reward Points
Amex Platinum card holders can earn 2x membership reward points on categories like online shopping, groceries, healthcare and daily essentials. So for these categories, you would be earning 5 reward points on each Rs 100 spent. For fuel spends, members would be earning extra 1 reward point per Rs 100 spent, i.e. under this offer you can offer 2 reward points/Rs 100 spent on fuel.
Amex Platinum card holders were already earning 7.5 membership reward points/ Rs 100 spent for international payments. But with this offer, you can now earn 15 reward points. Amex cards charge 3.5%+ GST as forex markup charges, though the benefit is still better than any other card has to offer, as you earn around net 3% after deduction of markup charges.
Double value for redemptions
With this offer, besides getting 2x reward points on select categories, you can pay in full or in parts for any item on your credit card statement with your MR points with a value of each point as Rs 0.50 instead of the usual Rs 0.25.
To pay via reward points, all you need to do is login in your account, click on “Pay your Card charges with Points”. Select the transaction and pay. You can also pay via Select & Pay feature in Amex app.
Double Rewards is a good offer, but we expect Amex to launch similar offer for other credit cards as well, considering very less percentage hold Amex platinum credit card. Though on the other hand as transactions on credit cards have decreased considerably, probably Amex would be trying to retain it’s top tier customers by providing such offers.