Amex has introduced a new reward redemption option at 12,000 MR points for a statement credit of INR 5310. Recently, I was having a word with Amex customer care to adjust my 18,000 MR rewards points for a statement credit of 7,500 on my Amex MRCC credit card (Detailed review here and more about the card here) . It was then the executive informed me that they have introduced another slab at 12,000 points. This new option gives statement credit of 5,310. To be sure I got the numbers right, I this time opted for chat feature in the Amex app. The executive there too confirmed the existence of new slabs and told about the T&Cs.
On doing a quick calculation value of 1 reward point, this new redemption option values 1MR point at 44 paise. The other options (12,000 MR points for 7,500 credit and 24,000 MR points for 10,000 credit) for statement credit, values 1MR point at 42 paise. Thus, this new option gives the best value for MR points.
The terms explained were as follows:
- This redemption option is available only once in a calendar year and gives statement credit of 5310.
- This is a temporary offer and as of now, there is no end date. However, given that it is a temporary offer, I do not expect it to last very long.
As mentioned above, since this new option of Amex reward redemption for 12000 points is available only once a calendar year; this is the best time to redeem the points. As just in few days, i.e. in January, one will be eligible once again to redeem 12000 points for 5310 statement credit.