American Express is making some of its most significant changes to Indian cardholders in years, all landing within a few weeks of each other this September and October. If you carry an AMEX card in India, here’s exactly what’s changing, when, and what it means for your rewards.
Reward Multiplier Is Being Discontinued (September 30)
The Reward Multiplier programme, which gave cardholders up to 5X Membership Rewards points (10X on Centurion cards) on purchases with select partner brands like Apple, Nykaa, MakeMyTrip, Tanishq, and Myntra, will be discontinued effective September 30, 2026.
AMEX confirmed the change to cardmembers in an email dated August 26. Points earned through eligible purchases up to 11:59 PM on September 29, 2026 will still be credited under the current terms, so that date is effectively the real deadline for anyone planning a large purchase through this route.
Importantly, this doesn’t remove all accelerated earning. ShopWise, AMEX’s separate e-voucher platform, will continue to offer up to 5X Membership Rewards points across more than 200 partner brands spanning shopping, dining, and travel. If you’ve been using Reward Multiplier at direct-purchase merchants, ShopWise is the closest remaining alternative, though it requires buying through vouchers rather than paying directly.
Platinum Travel Card: Milestone Rewards Are Being Cut (September 10)
Separately, the Platinum Travel Credit Card is getting a substantial rework of its milestone structure, its second major revision in about six months.
From September 10, 2026:
- The ₹1.9 lakh spending milestone, which used to earn an additional 7,500 Membership Rewards points, is being removed entirely.
- The ₹7 lakh milestone’s reward changes from 22,500 Membership Rewards points to a ₹20,000 Taj Experiences e-Gift Card instead.
- The ₹4 lakh milestone (10,000 points) is unaffected.
Combined, cardholders who reach the ₹7 lakh spend threshold will see their total milestone rewards drop sharply compared to the current structure — a meaningful hit for anyone who was routing large annual spend through this card specifically for the milestone bonuses.
Lounge Access Gets a Spending Condition (October 1)
From October 1, 2026, complimentary domestic airport lounge access on the Platinum Travel Card will no longer be unconditional. It will instead require meeting a quarterly spending threshold to unlock access for the following quarter — a structure increasingly common across the industry, but a real change for cardholders used to automatic access.
What This Means If You Hold an AMEX Card
If you’ve been using Reward Multiplier regularly, it’s worth reviewing any planned big-ticket purchases with partner brands and considering whether to bring them forward before September 29. For Platinum Travel Card holders working toward the ₹1.9 lakh or ₹7 lakh milestones this year, hitting those thresholds before September 10 preserves the current, more generous reward structure.
Longer term, these changes are part of a broader pattern across Indian card issuers this year — several major banks have similarly tightened reward structures and added spending conditions to previously unconditional perks. Worth factoring in if you’re deciding between AMEX and other premium travel cards going forward.
This is a read-only informational summary. FareSIQ does not process card applications.