Information verified
This update was checked on September 8, 2026 against American Express's official Reward Multiplier and Membership Rewards pages.
Reward rates, merchant lists, eligibility and cutoff rules are time-sensitive. Confirm the latest official terms before making a purchase.
The short answer
American Express says its Reward Multiplier programme will be discontinued effective September 30, 2026.
Reward Multiplier currently lets eligible cardholders earn accelerated Membership Rewards points when they start a purchase through the programme and complete it with an eligible Amex card.
Accelerated points for purchases with selected brands through Reward Multiplier will end. American Express says accelerated rewards will continue on eligible e-voucher purchases through the independent ShopWise platform.
What exactly is ending?
The change affects the American Express Reward Multiplier programme. It currently lists selected merchants across travel, shopping, electronics, fashion and beauty.
Cardholders normally have to begin from the Reward Multiplier page, select an eligible card and complete the transaction using the required purchase process.
The programme advertises accelerated rewards of up to 5X, but the actual multiplier depends on the card, merchant and current terms.
American Express has not said that the complete Membership Rewards programme is ending.
What continues through ShopWise?
American Express describes ShopWise as an independent platform offering e-vouchers from more than 200 brands across shopping, travel and dining.
Cardholders can continue earning accelerated Membership Rewards points on eligible ShopWise purchases after Reward Multiplier is discontinued.
| Feature | From September 30, 2026 |
|---|---|
| Selected-brand purchases through Reward Multiplier | Accelerated rewards discontinued |
| Eligible ShopWise e-vouchers | Accelerated rewards continue |
| Normal Membership Rewards earning | Not stated as discontinued |
| Existing Membership Rewards points | Not stated as cancelled |
| Exact ShopWise rates | Check before purchasing |
The notice does not say every ShopWise voucher or Amex card receives the same rate. Check the multiplier displayed for your card and voucher before paying.
Are normal card rewards ending?
No such change is stated in the discontinuation notice.
American Express cards may continue earning normal Membership Rewards points on eligible purchases under the rules of each card. Card-specific monthly rewards, milestones and welcome benefits are separate from Reward Multiplier.
The announcement should not automatically be described as ending:
- Normal reward points
- Welcome benefits
- Card-specific milestone benefits
- Existing Membership Rewards balances
- Every form of accelerated earning
- Eligible ShopWise e-voucher rewards
Each benefit has separate conditions. Check your exact card page rather than assuming one programme change removes every reward.
Which cards currently use Reward Multiplier?
The current programme page lists several personal and corporate American Express cards with different multipliers, including:
- American Express Platinum Card
- American Express Gold Card
- American Express Platinum Travel Credit Card
- American Express Platinum Reserve Credit Card
- American Express Membership Rewards Credit Card
- American Express SmartEarn Credit Card
- Eligible American Express corporate cards
This list and the multipliers are time-sensitive. Confirm current eligibility on the official Reward Multiplier page.
Should you make purchases before September 30?
Do not make an unnecessary purchase only to collect extra points. If you already planned to buy something from a participating merchant, compare:
- The merchant's final price.
- Discounts available through other channels.
- The points expected through Reward Multiplier.
- ShopWise voucher availability.
- Voucher usage and expiry conditions.
- Cancellation and refund restrictions.
A direct discount elsewhere may be worth more than accelerated points.
The public notice does not clearly explain whether a transaction must be started, completed or posted before a particular time on September 30.
Contact American Express before relying on a transaction made near the cutoff. Do not assume September 29 is the final eligible date.
What should frequent users do?
Review how often you use Reward Multiplier. If it forms an important part of your card's value, recalculate the benefit using your own spending.
ShopWise may preserve some accelerated earning, but e-vouchers introduce separate restrictions. Before purchasing one, check:
- The participating brand and reward rate.
- The voucher's expiry date.
- Online and offline usage restrictions.
- Minimum and maximum values.
- Whether partial redemption is allowed.
- Cancellation and refund rules.
Do not buy a large voucher unless you are reasonably certain you will use it.
Does this make Amex cards less valuable?
Cardholders who frequently use Reward Multiplier merchants may have fewer ways to collect extra points.
The effect may be smaller for customers who mainly earn through normal card spending, card-specific monthly rewards, annual milestones, welcome benefits or eligible ShopWise vouchers.
Editorial interpretation: Evaluate the complete card, including its annual fee, regular earning, milestones and redemption choices. Reward Multiplier is only one part of the value calculation.
Confirmed facts and interpretation
Confirmed by American Express
- Reward Multiplier will be discontinued.
- The stated effective date is September 30, 2026.
- Selected-brand accelerated rewards through the programme will end.
- Eligible ShopWise accelerated rewards will continue.
Editorial interpretation
- Frequent users should recalculate their card's value.
- ShopWise may replace only some earning opportunities.
- Compare voucher restrictions and prices first.
- Do not spend unnecessarily to collect points.
Key takeaways
American Express Reward Multiplier is being discontinued.
The stated effective date is September 30, 2026.
The wider Membership Rewards programme is not stated as ending.
Eligible ShopWise e-vouchers can continue offering accelerated rewards.
Reward rates depend on the card and transaction.
Confirm cutoff rules before a last-minute purchase.
Frequently asked questions
Is the complete Membership Rewards programme ending?
No. The announcement concerns Reward Multiplier. It does not say normal Membership Rewards points are ending.
Will my existing points disappear?
The notice does not say existing points will be removed. They remain subject to normal programme and account conditions.
Can I still earn accelerated points through ShopWise?
American Express says eligible ShopWise e-voucher purchases can continue earning accelerated points. Check the displayed rate.
Can I still buy from a Reward Multiplier merchant?
Yes, but accelerated points under the discontinued programme will no longer be available.
Is September 29 the final transaction date?
The public notice does not explain the exact transaction or posting cutoff. Confirm it directly with American Express.
Sources checked
Verified September 8, 2026. Reward rates, card eligibility, merchant lists and cutoff rules are time-sensitive. Confirm the latest official information before making a purchase.