American Express Revamps its 24K and 18K Gold Collection | New Brands Added

American Express 24 Karat and 18 Karat Gold Collection, often synonymized with American Express Membership Rewards Credit Card and American Express Gold Charge Card, has got a makeover and now looks more attractive and diverse.

What has changed?

Today, on the 31st of March'22, American Express has added five new brands in its 24K and 18K Gold Collection. These newly added brands in not-so-identical segments can readily facilitate Amex cardmembers with significant options to redeem their membership reward points as per their choice/requirement.

18K Gold Collection (New VS Old)

• Additions: Flipkart, Croma, Shoppers Stop, Big Basket, and Myntra.
• Omissions: Statement Credit (w.e.f 3rd May'2022) and Amex Domestic Travel EGV.
• Untouched: Amazon and TAJ.

New Redemption Options	Old Redemption Options
Amazon EGV worth INR 7,000	Amazon EGV worth INR 7,000
TAJ EGV worth INR 9,000	TAJ EGV worth INR 9,000
Flipkart EGV worth INR 7,000	Statement Credit worth INR 6,000
Croma EGV worth INR 8,000	Amex Domestic Travel EGV worth INR 7,000
Shoppers Stop EGV worth INR 8,000
Big Basket EGV worth INR 8,000
Myntra EGV worth INR 8,000

18K GC Reward Rate

• Amazon, Flipkart, 7K EGV Reward Rate ~ 39%
• Croma, Shoppers Stop, Big Basket & Myntra, 8K EGV Reward Rate ~ 45%
• TAJ 9K EGV RR ~ 50%

24K Gold Collection (New VS Old)

• Additions: Flipkart, Croma, Shoppers Stop, Amazon, and Vistara.
• Omissions: Statement Credit (w.e.f 3rd May'2022).
• Untouched: Tanishq and TAJ.

New Redemption Options	Old Redemption Options
Tanishq EGV worth INR 10,000	Tanishq EGV worth INR 10,000
TAJ EGV worth INR 14,000	TAJ EGV worth INR 14,000
Flipkart EGV worth INR 9,000	Statement Credit worth INR 9,000
Croma EGV worth INR 9,000
Amazon EGV worth INR 9,000
Vistara EGV worth INR 11,000
Shoppers Stop EGV worth INR 11,000

24K GC Reward Rate

• Amazon, Croma, Flipkart, 9K EGV Reward Rate ~ 37.5%
• Tanishq, 10K EGV Reward Rate ~ 41.7%
• Vistara and Shoppers Stop, 11K EGV Reward Rate ~ 45.8%
• TAJ 14K EGV Reward Rate ~ 58.3%

CP's Take

This is a very good step taken by American Express. It has enabled cardmembers to choose their redemption option across various brands. As far as the omission of statement credit is concerned, we are not sure if people used it anyway, as it offered the lowest reward rate.

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