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Lasers with injected spin-polarized carriers show an outstanding performance in both static and dynamic operation. In addition to the intensity response of conventional lasers, without spin-polarized carriers, both intensity and polarization of light can be exploited for optical communication in spin-lasers. However, the polarization dynamics of spin-lasers under amplitude modulation has been largely overlooked. Here, we reveal, analytically and numerically, a nontrivial polarization response that accompanies the well-known intensity dynamics of a spin-laser under amplitude modulation. We evaluate the polarization and intensity response under the same amplitude modulation and further assess the capability of such a polarization response in digital data transfer with eye diagram simulations. Our results provide a more complete understanding of the modulation response in spin-lasers and open up unexplored opportunities in optical communication and spintronics.