The Amex Diwali offer is one of the most anticipated promotions in the credit card space during the festive season. It typically delivers meaningful rewards, but this year’s promotion is less generous than last year and appears to be targeted to a limited set of cardholders. Below are the key details and thoughts on the offer.
Offer Details
- Offer: Spend a specified amount and receive vouchers worth a fixed value.
- Offer Type: Spend-linked, targeted promotion.
- Offer Period: 26 Sep, 2022 (after enrolment) to 10 Nov, 2022.
- Fulfilment: Rewards delivered by 15 Mar, 2023.
- Enrolment is required as indicated in the email you receive.
Some card variants may have different offer periods, so follow the exact dates provided in your email. If you haven’t received any communication, you can call customer support to check whether any of your cards are eligible, but many cardholders report not seeing the offer.
Offer Variants (Regular Cards)
| OFFER # | SPEND CRITERIA | GIFT VOUCHER (INR) | VOUCHER BRAND | REWARD RATE |
|---|---|---|---|---|
| 1 | 7L | 30,000 | Taj | 4.3% |
| 2 | 5L | 20,000 | Taj | 4% |
| 3 | 3L | 12,000 | Taj | 4% |
| 4 | 1L | 4,000 | e-Vouchers | 4% |
| 5 | 10,000 | 750 | Amazon Pay | 7.5% |
- e-Voucher brands include Hidesign, Charles & Keith, Louise Philippe, MMT Hotel, MAC, Bobbi Brown and Aldo.
The e-voucher option is a newer addition but not particularly noteworthy compared with other rewards.
Offer Variants (Platinum Card)
| OFFER # | SPEND CRITERIA | GIFT VOUCHER (INR) | VOUCHER BRAND | REWARD RATE |
|---|---|---|---|---|
| 1 | 7L | 30,000 | Taj | 4.3% |
| 2 | 5L | 20,000 | Taj | 4% |
| 3 | 3L | 15,000 | Luxe | 5% |
| 4 | 1L | 4,000 | e-Vouchers | 4% |
Compared with the Amex Diwali promotion in 2021, reward rates have generally fallen from the roughly 7% range for many offers to closer to 4% this year. Note that these Diwali bonuses are in addition to the card’s regular rewards program.
My Thoughts
While the offers are reasonable for those who can meet the spend thresholds, fewer cardholders need to pursue them if they already hold competitive cards such as Axis Magnus. Still, if your typical spending exceeds Rs. 1 lakh during the offer window, it can be worth evaluating the Amex promotion.
In my case I did not receive this year’s offer, and anecdotal reports suggest only a small fraction of customers were targeted—roughly one in ten people I know. That limited targeting likely explains the delayed coverage and reduced value.
Overall it appears American Express India has pulled back on promotional generosity this Diwali. The Platinum Charge card’s welcome benefits are also less compelling than before. There isn’t much good news from Amex at the moment, and hopefully future promotions will be stronger.
Did you receive the Amex Diwali offer for 2022, and are you planning to take on the spending challenge? Share your thoughts in the comments below.