American Express India just sent out an email to all platinum travel credit card holders on 29th June 2020 about the discontinuation of SpiceJet vouchers issuance from 1st August 2020. Here’s everything you need to know,
Here’s a quick look at the email just incase if you haven’t got it yet:
How does it affect?
Here’s how the redemption looks like on Amex Plat Travel Card from 1st August 2020:
- Regular points
- Domestic Travel vouchers: 40Ps
- Bonus points / 1.9L spend / 7,500 points
Spicejet: Rs.6000 (80ps)
- Domestic travel vouchers: Rs.5000 (67ps)
- Bonus points / 4L spend / 10,000 points
SpiceJet: Rs.10,000 (Rs.1)
- Domestic travel vouchers: Rs.8,000 (80ps)
As you see above, redeeming Amex MR points for spicejet vouchers gives you accelerated value per point but now as it’s taken away, the max. reward rate drops to 6.5% from 7.5% overall.
In reality though, hardly very few of Amex cardholders use SpiceJet and I never liked it ever since Amex replaced Indigo with SpiceJet vouchers in 2017.
So overall I don’t see this as a devaluation. I feel it’s more of a quick decision, possibly because of the pressure on airlines industry.
It is still the best travel credit card in India, without a doubt. You may apply one for free (limited period offer) just incase if you don’t hold it already.
Will there be a replacement?
I’m pretty sure there will be one.
I’m expecting Amex to reveal that likely in a month or two as SpiceJet voucher goes away, but we don’t know for sure when that will come.
If I do a wild guess, it would be easy and simple for them to replace it with Taj Vouchers, perhaps at higher point value just like they did so with Gold collection revamp.
It would be even lot better to modify the rewards system (by keeping reward rate intact) on Plat Travel card as it feels complicated for many to get into the numbers.
While this is not a major concern for most, I’m afraid if other airline cards would be touched during this pandemic period, especially the one like Axis Vistara Infinite.
That aside, I’m quite confident with Amex that there will be something or other to replace SpiceJet vouchers at similar conversion rate.
Infact Plat travel is one of their premium product, so I see no reason for them to not take care of their valuable cardholders. So let’s wait and see what’s coming.
Have you used Amex SpiceJet vouchers in the past? Feel free to share what you think about this change.