AmBank has announced a revision to the redemption rates of its AmBonus points, which will be effective from 17 September 2019. In addition, the bank is closing redemption applications from 11 to 16 September.
Like other revisions by other banks in recent months, the changes don’t look good. Across the board, the revision sees an increase of points required for all redemptions, including air miles, vouchers, and on-the-spot redemption (OTSR). The hardest hit are the air miles redemptions, as the rates have increased between 16.7% up to a whopping 100%, while the voucher redemption rates have increased by 25%, while OTSR rates by 50%.
Even though it is the AmBank Visa Signature cards that have the highest increase in redemption rate (+100%), the AmBank World Mastercard and Visa Infinite (+43 to +79%) will be hit particularly hard. That’s because the two cards are currently earning 1 Enrich/KrisFlyer/Asia Mile mile for every RM1.40 spent overseas, which is one of the best around. With this revision, cardholders will earn 1 Enrich Mile for every RM2 spent and 1 KrisFlyer/Asia Mile for every RM2.50 spent overseas – definitely not as competitive as the competition.
Here’s how the new changes will affect the air miles redemption rate for all AmBank credit cards:’
Air Miles Type
Existing Redemption Rate
New Redemption Rate (from 17 Sept 2019)
|1,000 Enrich Miles||World & Infinite||7,000 points||10,000 points|
|Signature & Platinum||7,500 points||12,000 points|
|Gold||10,000 points||15,000 points|
|1,000 Asia Miles or1,000 KrisFlyer Miles||World & Infinite||7,000 points||12,500 points|
|Signature & Platinum||7,500 points||15,000 points|
|Gold||10,000 points||19,000 points|
|1,000 BIG Points||World & Infinite||6,000 points||7,000 points|
|Signature||6,500 points||8,000 points|
|Platinum||7,000 points||8,000 points|
|Gold||10,000 points||12,000 points|
As part of this revision, AmBank also announced that any redemptions for the current rate can only be done until 10 September 2019, after which it will be closed for system maintenance.