American Express has recently added e-Vouchers to their Reward Multiplier system that let’s you earn additional rewards when you shop with select merchants via Amex link.
This e-Voucher portal is run by Gyftr – the same brand that runs the e-Vocuhers portal for HDFC 10X Rewards and other banks. However, interestingly Amex page has additional voucher options and with better user experience.
- For ex, I could find Zomato & Swiggy vouchers on Amex Reward Multiplier while it’s not there on HDFC Smartbuy (Update: now Swiggy vouchers available with HDFC).
That aside, Amex Gold charge card is now moved to 5X category from 3X which is a great news for some. Check out the savings section for more info.
I just wish someday Amex moves platinum charge from 5X to 10X category, which would become a wonderful value proposition for metal cards.
eVouchers are great to have on accelerated rewards portal. This is certainly a huge advantage for many as almost everything under the sky is now 5% cheaper for you. Hope they don’t add any restrictions anytime soon to your favourite voucher brand 😉
What’s your thoughts on the Amex Reward Multiplier eVouchers portal? Feel free to share your thoughts in the comments below.
I used the reward multiplier just today using the Gold Card, to buy Amazon Vouchers as my allocation within HDFC was exhausted.
Do we know if there is a limit for Amazon/Flipkart Vouchers just like in HDFC Smartbuy, if not this would yield better value proposition with 5x or above cards to purchase Amazon Vouchers and pay off utility bills rather than using the card directly on Amazon or any other portal which always has a limit.
Good to see Gold charge card being bumped up, but seems unfair for the Platinum charge card members. Gyftr has been white-labelling their voucher site for most of the banks, I have come across RBL, IndusInd, Axis, SCB, YesBank and of course HDFC, but no one can beat HDFC Smartbuy
I bought an Amazon voucher but didn’t receive any for the past two days. Tried speaking to customer care, resend of vouchers and still no resolution. I’m going to dispute the transaction. Or any other way?
Anyway great way to take up those points and on Gold Charge card the total return on spend of Rs 72k would be 13.3%!
It may not be, as Amazon vouchers are available in 2k and 5k denomination only
How 72k spend on Gold charge can give 13% return. Can you please explain?
Buy 1k e-Voucher 6 times in a month for 12 months
120 * 12 = 1440 Base points
4x * 1440 = 5760 reward multiplier
1000 per month bonus = 12000 Bonus points
Total you earn 19200
if you redeem for statement credit (with 24k points) you 10% cash
with taj voucher you get 15.55% return
with tanishq you get 11.11% return
Got it. Thank you!!
I have Amex smart earn card.
W.e.f. from 1st july, paytm wallet transactions will earn 5X rewards in smart earn card.
I received above information via mail communication.
Good to know, after hdfc, axis, stanC, yesbank and indusind, now even amex is on gyftr.
Woah, suddenly with this reward multiplier offer, they have pegged Gold Charge above Platinum Reserve and Platinum Travel
Poor decision indeed.
Maybe they are trying to retain gold customers?
More of “favour” than “retain” as it may give better business for them.
That’s because of higher volume of customers of Gold charge card compared to others.. It’ one of their oldest cards in the market.
Disagree on first line.
Though of upgrading my MRCC to Gold charge card , CC executive said since May 1st 2021 Amex is not allowed to add any new domestic customer due to RBI directions as they don’t comply with some payment rules or something.
It means no upgrades/companion cards possible until they sort it out with RBI.
I believe the RBI ban applies only for onboarding new customer.
An upgrade to an existing customer isn’t a new customer.
Even when HDFC is banned by RBI for onboarding new customers, they upgraded tons of existing customers to Infinia. I upgraded from Jet Diners Black to Infinia too while the ban was on.
Not sure if the ban on Amex is differen than what is for HDFC. It shouldn’t ideally apply for existing customers/upgrades.
RBI regulations on Amex are different as they’re not a bank – is what I’m said by Amex. Hence upgrades not allowed, for now. Actually they don’t have upgrade concept and they usually create new ac. Maybe that’s what stopping them.
Amex vouchers have uber and bigbasket as well which were removed from hdfc vouchers. I used to max out uber and big basket vouchers before HDFC removed it
Other ‘have a cake and eat it to’ scenario, buy amazon gv via reward multiplier, load your Amazon pay wallet and buy big basket voucher which is generally with a discount on Amazon with that balance.
Hdfc smartbuy had uber vouchers till a few months ago and thats gone now .. good to see it with amex plat charge
I still can’t understand the same. It says that if you buy Amazon vouchers from reward multiplier by MRCC credit card then you will get 5X points. That is 10 points for every 100 rs spent. Which means you will get 1000 points for every 10k Amazon vouchers. Anyone can please explain the same. Also please share the link for reward multiplier Amazon gift voucher section
How come platinum charge (metal) having 12.5% earning
Rs 100 = 2.5 MR points
At 5X Rs 100 = 12.5 MR Points
12.5 MR points= 12.5 Marriott points
12.5 Marriott points can give you Rs 12.5 Value or more if you spend wisely.
Hence 12.5% return
Well on those lines, you can even say 25% or 37.5% reward rate on Plat. Charge.
The reward rate approximation has to be realistic. The global valuation of Marriott Bonvoy Point is around 0.6 to 0.7 Re. (O.5 Cents per point). If you search enough, you can even get 4 Rs per MB point but that does not mean that should be considered for reward rate calculation.
Just an example, within India, around 6-7 Hotels in August giving a MB Rate of 1.2 to 1.5 Re per Point, but then 30+ hotels giving a rate of 0.3 Re per Point or lesser. This is out of 128 Hotels in India.
I got charged 1.5% professional and Service fee on my purchase of vouchers on Plat Charge , please check your transactions too .. if its being charged to everybody , please update article
I haven’t been charged any service fee on Vouchers purchases through Reward Multiplier with Gold Card.
I have seen a record item, a banner, displaying in the AMEX application when I select the Gold Card stating “Something Interesting is coming your way on 15th July 2021”.
Not sure what is the interesting part that’s coming up.
Is this showing up for everyone or only for few?
Fuel & Utilities: 1MR every 50 INR (Other Amex cards don’t)
Reward Multiplier: 5X
Fee: Monthly fee (optional)
and some more temporary offers with Lake.
Source: Amex Support
The email promos for this change is too much of a hype.
I think this is a great offer.
I just bought 10k worth of Amazon vouchers on my Plat Travel yo test out the limits and got them immediately as SMS.
Over the last 18 months I’ve moved a lot of household spend to Amazon (Mix of pandemic and Infinia).
Of course the Smartbuy remains incredibly attractive but now I have another attractive option for those months where a higher value purchase is already made on Amazon.
Also, this looks like a good way to meet those MRCC thresholds.
This is an excellent opportunity for double dip in MRCC
Buy 1000 + 500 amazon vouchers four times in reward multiplier and use those vouchers to pay bill in Amazon and other needs in Amazon.
Hope they wont put an upper cap soon. Until then enjoy
That’s a great idea. People here must be spending 20k (on wallets for many uses including sky rocketing fuel) per month to get additional 1k MR points.
But, yes if u are just targetting 1k points, this strategy is double dippin..!
Thanks for sharing.
A query ..is it better to take a 14k taj voucher from 24k points or transfer it to bonvoy ? ( don’t think 1.5 x on transfer to bonvoy is coming back any time soon ) I already have a 10k taj voucher !
And I foresee travel to taj and marriott properties both in the next 7-8 months
I’d suggest you look at the rates of both the Taj and Marriott property that you intend to visit and make a decision based on that. For ex: four points by sheraton srinagar will give you a value close to or greater than rupees 1 per amex point. So you should check out the revenue as well as the redemption rates.
Thankyou Kartikav…sheraton at Srinagar was the exact property i had in mind for redemption of bonvoy points.. ( in fact this year i had redeemed 10k taj voucher on taj srinagar)…normally taj properties in south are more reasonably priced than their counterparts in North India but i do foresee travel to varanasi for 2 nights which should cost me 25k in taj…i already have a 10k voucher and hence was tempted to go for that 14k taj voucher for 24k points…it would be a no brainer if the 1.5 x point conversion comes back in bonvoy but don’t think so it will happen anytime soon !
depends of the hotel you are planning to stay, Taj voucher is 58.3paise per amex point value , if you getting less value than that at mariott hotel that you plan to stay , take taj , if more , transfer to mariott
Swiggy vouchers have been added in HDFC SmartBuy now, you may want to update the information.
Gyftr is gone from Rewards multiplier.
This feature has been removed. From yesterday the option to buy vouchers is no longer available. Confirmed with Amex as well.
As per Amex cc, gyftr voucher on rewards multiplier has been taken offline due to ongoing enhancement related maintenance activity of reward multiplier program. It will be back in some days. But they didn’t mentioned any specific date for it. Let’s see
They will probably rethink the programme , i was able to buy amazon vouchers on may 1 , but no 4x bonus came , only normal points
The Instant Voucher section seems to have made a quiet exit from Amex Reward Multiplier. The portel rewamp was more for the reward point redumption, and that had come to an end more than a month ago. But the vouchers are just not there any more…
Still not added back. Sad move for Amex users. Overall credit card benefits era coming to an end 🙁 ( Diners black, Amex plat, IDFC, …)