The change is: Starting 1st July, 2017 you will earn 1,000 Membership Rewards Points when you complete 6 transactions, each worth Rs.1,000 or more in a calendar month on your American Express Gold Card. That’s not a huge change, but yes it does matter for those who already struggling to do 4 txn’s till June 2017. I hope this also affects the MRCC card and lets have a quick look at the changes and its impact.
Changes to Amex Gold Card Monthly Bonus Reward points Eligibility
Until June 2017:
- 1000 Bonus Points
- Eligibility: 4 transactions each worth Rs.1,000 or more
From July 2017:
- 1000 Bonus Points
- Eligibility: 6 transactions each worth Rs.1,000 or more
- Renewal Fee Reversal: Redeem 12,000 Membership Rewards Points to renew your card membership without Paying.
The Renewal fee reversal concept by taking away the reward points has been added recently not only to this card, but also to other cards like Amex Platinum Travel Card as i wrote about it recently, wherein i had to let go of 10,000 Reward points for Membership fee waiver. Apart from redeeming your points for the popular statement credit, you also can redeem it for 18k & 24k carat Gold collection as below.
So the overall reward rate looks like this,
On achieving 18 Carat Collection by redeeming Points for Rs.7,500 Statement credit,
- Spend: 3 Lakhs (including spends to achieve monthly bonus)
- Reward Rate: 2%
On achieving 24 Carat Collection by redeeming Points for Rs.10,000 Statement credit,
- Spend: 6 Lakhs (including spends to achieve monthly bonus)
- Reward Rate: 1.75%
if you prefer to redeem for above, you need to spend another 6 Lakhs to accumulate 12,000 Points to redeem it for membership waiver. But hey, do note that, if you happen to redeem it for 24 carat and then spend another 6L, which is total of 12L spend, you may not need to use your points for renewal fee waiver as you maybe eligible for free reversal based on the spend.
Whats your take on recent changes to Amex Gold charge Card? Do share your views in comments below.