Amex trims the Gold Card's Karat Collection by 13–14%
American Express cut the value of the Gold Card's 18K and 24K Gold Collection vouchers by roughly ₹1,000 apiece from March 1, 2024 — about 13–14% less value for the same points.
The Amex Gold Charge card’s flagship redemption — the 18K and 24K Gold Collection vouchers — hadn’t been touched since 2022. On March 1, 2024, Amex quietly trimmed both, cutting roughly ₹1,000 off the value of each voucher.
A couple of new retail partners got added as cover, and the press-friendly framing was “refresh.” The math says otherwise: 13–14% less value for exactly the same points. That’s a devaluation with a bow on it.
The direction of travel was already visible. Vistara gift cards vanished from the catalogue in late 2023, quietly removing one of the few travel-shaped exits from the Gold Collection. This trim confirms the pattern rather than starting it.
Our take: the Gold Collection is the entire reason the Gold Charge card’s points math works, so a 13–14% voucher cut is a direct cut to the card’s effective reward rate. Re-run your numbers — if you were holding the card for the 18K/24K sweet spot, that spot just got measurably less sweet.