American Express India is discontinuing its Reward Multiplier program from September 30, 2026, bringing an end to the 5X/3X/2X Membership Rewards points earning opportunity on purchases with select brands.
The change was communicated to Card Members in an email dated August 26, with American Express stating that the Reward Multiplier program will be discontinued effective September 30, 2026.
Under the existing program, eligible purchases with select shopping and travel brands could earn 5X Membership Rewards points, making it one of the more attractive ways for Amex cardholders to accelerate their rewards earnings on specific merchants.
ShopWise Will Continue to Offer Accelerated MR Points
While the broader Reward Multiplier program is being discontinued, American Express says cardholders can continue to earn accelerated Membership Rewards points through ShopWise. ShopWise is an independent e-Voucher platform offering vouchers from more than 200 brands across categories including shopping, dining and travel.
RewardXcelerator is Also Continuing
American Express has also confirmed that RewardXcelerator will continue to offer accelerated Membership Rewards points across 20+ brands. This program therefore remains another option for Amex cardholders looking to earn additional points on eligible purchases.
Bottom Line
For Amex cardholders, the discontinuation of Reward Multiplier means fewer opportunities to earn accelerated points directly when shopping with select brands. While ShopWise and RewardXcelerator still offer ways to earn bonus points, they work differently than simply using an eligible Amex card at a participating merchant.
Cardholders who have been strategically using Reward Multiplier should therefore review their upcoming purchases before the September 30 deadline and consider bringing forward any eligible spending where it makes sense.
This, along with the other recent changes to American Express credit cards in India, feels like a major shift in the company’s approach toward its consumer base here. Every other day, there seems to be another devaluation announcement.