American Express Reward Multiplier ends this month: What cardholders should know

American Express cardholders have just weeks left to use one of the easiest ways to earn accelerated Membership Rewards points, according to a report by CNBC.

The six-year-old Reward Multiplier programme will be discontinued from 30 September 2026, meaning customers will no longer get bonus points simply by routing purchases through participating brands on the Amex platform.

The change will affect Platinum, Gold, and Membership Rewards (MR) cardholders who have used Reward Multiplier for purchases from brands such as Apple, Nykaa, Myntra, and MakeMyTrip hotel bookings made through the Amex portal.

How did Amex Reward Multiplier work?

Reward Multiplier worked much like the shopping portals offered by other banks, including HDFC SmartBuy, ICICI iShop, and Axis Grab Deals.

Instead of going directly to a merchant’s website, cardholders logged into Amex, clicked on a participating brand and completed their purchase.

Don't Miss: Bengaluru traffic restrictions from September 4: Two-wheelers, autos and goods vehicles face curbs on key flyovers

The merchant paid Amex an affiliate fee for the sale generated through that route, with Amex passing a portion of the value back to customers as bonus Membership Rewards points.

For cardholders, the attraction was straightforward: the purchase itself did not have to change. Only the route taken to make it changed.

Depending on the card, customers could earn significantly more than the standard reward rate — up to 5X points on Platinum cards and 10X points on the Centurion card.

Participating brands included Apple, Forest Essentials, Nykaa, MakeMyTrip, Tanishq and Myntra.

September 29 is the last day to use it

Customers looking to make a large purchase through Reward Multiplier should keep the deadline in mind.

American Express says transactions must be fully completed by 11:59 PM on 29 September 2026 to qualify under the existing programme. Simply starting a transaction before the deadline will not be enough.

That matters for customers planning expensive purchases such as laptops, jewellery or travel bookings. If the transaction is not completed before the cutoff, the bonus points may not be awarded under the current terms and conditions.

According to the report, American Express Banking said in its email to cardmembers: “Effective 30 September 2026, the Reward Multiplier program will be discontinued. While accelerated Membership Rewards points on purchases made with select brands will no longer be available, you can continue to earn 5X Membership Rewards points on eligible purchases through ShopWise, an independent platform offering e-Vouchers from 200+ brands across shopping, dining, and travel.”

Must Read: Nearly 1 in 3 Delhi voters left out as draft electoral roll drops 47.7 lakh names from 1.45 crore

What happens to existing Amex points?

The end of Reward Multiplier does not mean the Membership Rewards programme itself is ending.

American Express said the base Membership Rewards programme remains completely unaffected. Standard earn rates and existing point balances will not change.