American Express India has wiped out Membership Rewards points from customer accounts. That's according to reporting by Live From A Lounge. The report links the move to the demonetisation anniversary.
If you hold an Amex card in India, check your points balance today. Save screenshots and statements as proof. The headline doesn't say how many accounts or points are affected, so wait for the bank's own word.
Key takeaways
- Live From A Lounge reports that Amex India cleared Membership Rewards points from customer accounts.
- The report ties the timing to the demonetisation anniversary.
- Scope, reason and any fix are not in the headline, so don't assume details.
- Big unspent point balances carry risk, so use points regularly.
- Your credit limit and credit score are separate from reward points.
How card reward points work
Reward points are a thank-you from the bank for spending on your card. You earn them on purchases. Later you swap them for vouchers, travel, gifts or bill credits.
Points are not cash. They're a promise made under the bank's own rules. Those rules sit in the terms you accepted when you took the card. Banks can change terms, but they usually give notice first. A sudden wipe is rare, and that's why this report matters.
What changes for cardholders
Points are worth different amounts depending on how you use them. A voucher may give less per point than a flight booking. Here's an example with 40,000 points. These are sample rates, not Amex's actual rates.
| Value per point | What 40,000 points are worth | How you might use them |
|---|---|---|
| ₹0.25 | ₹10,000 | Low-value gift items |
| ₹0.50 | ₹20,000 | Typical vouchers |
| ₹1.00 | ₹40,000 | Strong travel deals |
So a heavy spender could see ₹10,000 to ₹40,000 at stake. If your balance was small, the loss is small too. If the points come back, nothing is lost at all. Meanwhile, if you pay card bills late, interest can cost more than any points you earn. You can compare current card and loan costs on our interest rates page.
Who is affected
The headline doesn't name the group. The people most likely to care are cardholders with large unspent balances. That includes people saving points for a trip or a big purchase.
If you already used your points, you're probably fine. Still, check that past redemptions went through. Also look at your next statement for any odd entries.
What to do now
Stay calm and act step by step. Here's a simple checklist:
- Log in to your account and note your points balance.
- Take a screenshot of the page and your last statement.
- Write to the bank through its app, email or customer care. Ask what happened and when points will return.
- Keep the complaint number and every reply.
- If you get no clear answer, escalate to the bank's nodal officer, then to the RBI ombudsman.
Going forward, don't sit on huge point piles for years. Redeem points for things you truly need. For more updates, see our news hub.
Don't share card numbers, OTPs or passwords with anyone who calls about this. Scammers love news like this.
Frequently asked questions
Did Amex India really delete Membership Rewards points?
According to reporting by Live From A Lounge, yes. The report doesn't give the full details, so watch for an official statement from the bank.
Will this hurt my credit score?
No, reward points have nothing to do with your credit score. Your score depends on repayment history, usage and credit age.
Should I cancel my Amex card now?
Not yet. Cancelling can shorten your credit history. Contact the bank first, and decide after you hear a clear answer.
BankCreds analysis
What this may mean in rupees
Think of a salaried family that spends ₹50,000 a month on one card. At a common earn rate of about 1 point per ₹50 spent, that's roughly 1,000 points a month. Over three years, that's about 36,000 points. At ₹0.50 each, the loss would be near ₹18,000.
That's real money, but it's not a crisis. Your card limit, credit score and loans are separate from reward points. A points wipe doesn't touch them.
What not to read into this
The headline doesn't say the wipe is permanent. It could be an error, a system fault or a policy step. Don't assume the worst until the bank explains. Don't close the card in anger either. Closing it can shorten your credit history and may dent your score. Write to the bank first and keep every reply.
This section is BankCreds' own assessment of what the development means for Indian borrowers and savers. It is independent commentary, not part of the source reporting above.
Source & references
- Live From A Lounge — originating report https://livefromalounge.com/on-demonitisation-anniversary-american-express-india-wipes-out-membership-rewards-points-from-customer-accounts/
Source links are shown as plain text, not clickable links. Copy a URL into your browser to read the original report.
Editorial note & disclaimer
How this was reported. The development above is attributed to the source or sources listed. BankCreds does not independently verify a third party's reporting; where a figure or a regulatory position is stated as fact, it is either attributed or drawn from the regulator's own published material. Everything under "BankCreds analysis" is our own assessment.
Rates and figures. Interest rates, per-gram values and premium bands quoted here are indicative, move daily, and differ by borrower profile, city and lender policy. Confirm the final number with the institution before you act on it — the sanction letter or policy schedule governs, not a news report.
Not financial advice. This article is general information for an Indian audience. It is not investment, tax, credit or insurance advice, takes no account of your circumstances, and BankCreds is not a lender, broker, distributor or advisor. Consider speaking to a SEBI-registered investment adviser or a qualified professional before acting.
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