Over the past few years, American Express (AMEX) has built a reputation for rewarding loyal cardholders through its Membership Rewards (MR) program. The Reward Multiplier platform, in particular, was seen as an excellent way to maximize points on online shopping.
However, recent updates to AMEX’s terms & conditions suggest a shift — one that could significantly affect the average customer’s ability to earn points.
🔗 Official T&C
Earlier, exclusions were limited (e.g., mobile phones, accessories). Now, a wide range of categories across platforms like Flipkart and TataCliq no longer qualify for bonus MR points.
Some of the most common exclusions include:
But this raises an important question: If Gyftr is also removed in the future, what remains for the “normal” customer? Without it, AMEX risks being seen as a high-fee brand with limited everyday relevance.
What are your views? Were this exclusions updated earlier? I just came to know this recently.
⚠️ Disclaimer: This post reflects my personal observations and opinions based on publicly available information. It is not financial advice and does not represent the views of American Express or any other institution. If this post in any way breaches community guidelines, I request moderators or members to kindly intimate me, and I will take it down.
However, recent updates to AMEX’s terms & conditions suggest a shift — one that could significantly affect the average customer’s ability to earn points.
🔗 Official T&C
What’s Changed?
Earlier, exclusions were limited (e.g., mobile phones, accessories). Now, a wide range of categories across platforms like Flipkart and TataCliq no longer qualify for bonus MR points.
Some of the most common exclusions include:
- Precious metals (including digital gold)
- Laptops, desktops, IT accessories
- Mobile phones, smartwatches, AirPods
- Televisions, cameras, and several electronic appliances
Why This Matters
- Festival & big-ticket purchases lose appeal – Large electronic spends during sales seasons no longer yield bonus MR points, reducing AMEX’s attractiveness as a “festival shopping card.”
- The ecosystem shrinks – Customers who relied on Reward Multiplier for high-value transactions now have fewer ways to accumulate points.
- Silent expansion of exclusions – These changes appear to have been introduced quietly, and many users may not realize until after their purchases.
A Silver Lining: Gyftr
At present, Gyftr voucher purchases continue to earn bonus MR points. For many everyday cardholders, this remains the most practical way to derive consistent value from AMEX.But this raises an important question: If Gyftr is also removed in the future, what remains for the “normal” customer? Without it, AMEX risks being seen as a high-fee brand with limited everyday relevance.
My Take
- AMEX needs to balance premium positioning with consistent, accessible rewards.
- Excessive exclusions erode trust and loyalty.
- For now, Gyftr is the anchor — but reliance on a single channel is risky, both for AMEX and its customers.
Final Thought
As exclusions grow, AMEX may be steering its rewards ecosystem towards a niche, high-spend audience. The challenge will be ensuring that the average cardholder still feels valued. Otherwise, the AMEX ecosystem could lose its everyday appeal in India’s increasingly competitive credit card market.What are your views? Were this exclusions updated earlier? I just came to know this recently.
⚠️ Disclaimer: This post reflects my personal observations and opinions based on publicly available information. It is not financial advice and does not represent the views of American Express or any other institution. If this post in any way breaches community guidelines, I request moderators or members to kindly intimate me, and I will take it down.
