One of the most popular & rewarding offer in the industry at the moment is HDFC 10X rewards program that gives massive return on spend with select merchants.
While that program is seeing devaluations back to back, American Express is here to launch their version of accelerated rewards with their new Reward Multiplier program that gives upto 5X rewards on select cards with select merchants. Here’s everything you need to know:
|Offer #1||5X Rewards on AmEx Platinum Charge Card|
|Offer #2||3X Rewards on Amex Plat Travel & Reserve|
|Offer #3||2X Rewards on MRCC, Gold Charge & Smart Earn|
|Offer #4 (New)||10X Rewards on AmEx Centurion|
|Offer Type||Accelerated Rewards on select merchants (Includes Amazon & Flipkart). Refer this page for the list of brands.|
|Max. Cap||25,000 Points per month|
|Fulfilment||120 Days from transaction date|
|Excluded Cards||Corporate Cards and Co-brand Cards|
|Excluded Products||There is a long list (esp. for Amazon & FK ). Refer T&C link below.|
|Validity||July 11, 2020 – Oct 31, 2020|
|T&C||Refer this link for T&C|
How to Avail?
- Step 1: Select a merchant of your choice and click on “Shop Now”
- Step 2: Fill out a few simple details and proceed to merchant site
- Step 3: Shop all you want in the same session without closing the browser within 30 minutes
- Step 4: Proceed to check out with the same American Express® Card used for validation in step 2
I would suggest you to go through the T&C for precautions on this as they’ve clearly mentioned about the best practices.
Further you may record the video while making the txn if its a high value txn, so it would serve as a proof for escalation, just incase if things go wrong.
Return on Spend
|10X – AmEx Centurion||Min: ~12.5%|
|5X – Platinum Charge Card||Min: ~6%|
|3X – Amex Plat Travel & Reserve||~2.4%|
|2X – MRCC, Gold Charge||1.3% – 2.3%|
|2X – Smart Earn (Better don’t use this card)||1%|
So as you see, for most cards its not worth to go through the 120 Day wait period following all these rules.
However, if you have the platinum charge card its a whole different story. While you can get minimum of 6% value, if you know the points game you may easily get 12.5% return or even more.
If I apply the numbers to my my last Marriott stay, the return could be as high as 30% but then its not usual, as anyway they raised the property cat now, so can’t get that numbers again even on suite upgrade.
But then those are all through Marriott stays, so even on Plat charge this offer gives you less value if you don’t plan to travel in near future. However good news is the points wont expire.
Is it targeted?
Appears to be!
This 5X multiplier page was live since ~ 10th July but when asked about the eligibility to support, they give different answer at different times, unfortunately.
And some of the cardmembers have received this email today, but most haven’t received them yet.
So it means they’re holding the offer for sometime for most, maybe due to potential overlap with current Double rewards offer and other promos. So it should likely go fully live by July 21st or so.
We may know all in coming weeks. For now if you wish to avail the benefit, its safe to call Amex, get a confirmation and then transact.
While its not a great offer in itself due to longer fulfilment time & poor reward rate on most cards, its still a good offer for Platinum Charge Cards and Centurion Cards as it opens up lots of possibilities to play the points and miles game, hopefully sometime in near future.
What’s your thoughts on the newly launched Amex Reward Multiplier? Feel free to share your thoughts in the comments below.
Thanks to Diya for sharing the offer details.