This is a highly rewarding credit card by American Express as it allows the users to earn rewards as they spend. Bonus membership reward points and milestone benefits are also offered to the users. Accumulated reward points can be redeemed against an exciting range of gift vouchers and merchandise. Other American Express benefits are also available on this credit card. Let us learn about some of its features and benefits.
The American Express Membership Rewards® Credit Card - Features
This credit card is packed with the following features-
- Get 4,000 Membership Reward Points as welcome gift.
- Earn 1 Membership Reward Point for every ₹ 50 spent on the card across all categories except fuel, utilities, insurance and cash advances.
- Use your credit card 4 times in a month for making transactions worth ₹ 1,000 or more each and earn 1,000 bonus Membership Reward Points.
- Get 5,000 bonus Membership Reward Points on payment of annual fee every year.
- Redeem your points against the 18 Karat and 24 Karat Gold Collection.
The American Express Membership Rewards® Credit Card - Benefits
Card holders can also avail the following benefits on this credit card-
- This is a contactless credit card and lets you make payment by just waving the card in front of an NFC enabled POS terminal.
- Enjoy 20% discount whenever you dine at partner restaurants across the country.
- Convert your big-ticket purchases into easy monthly EMIs.
- Get two supplementary credit cards at no additional cost.
- Round-the-clock assistance is provided to the cardholders in case of any query or complaint.
- Avail the emergency card replacement facility if you lose your credit card when travelling abroad.
- Zero lost card liability cover is also offered.
The American Express Membership Rewards® Credit Card- Rewards Programme
The accumulated reward points on your credit card can be redeemed against the fabulous 24 Karat and 18 Karat Gold Collection.
24 Karat Collection- 24,000 Points
- Travel voucher(s) worth ₹ 11,000.
- Soundlink Bose Speaker
- Direct statement credit worth ₹ 10,000.
18 Karat Collection- 18,000 Points
- Direct statement credit worth ₹ 7,500.
- ₹ 7,500 Tanishq Gift Card
- ₹ 8,000 Amazon Gift Card.
The American Express Membership Rewards® Credit Card - Fees and Charges
|Joining Fee||₹ 1,000 plus applicable taxes|
|Annual Fee||₹ 4,500 plus applicable taxes|
|Add-on Fee (per annum)||Nil for up to 2 add-on cards|
|Interest Free Period||52 Days|
|Finance Charges||3.5% per month|
|Surcharge on Purchase of Railway Ticket||1.8% of the transaction value if booked on the internet (IRCTC) subject to a minimum of ₹ 10|
|Record of Charge/ Summary of Charge Retrieval Fee||₹ 100 per Retrieval|
|Cash Advance Charges||3.5% of the Cash Advance amount, subject to a minimum of ₹ 250|
|Duplicate Statement Fee||₹ 100 per statement for statements older than 3 months|
|Cheque/ECS/NACH Return Fee||₹ 250 per Returned Instrument|
|Overlimit Charges||₹ 500|
|Foreign Currency Transactions||Currency Conversion Factor Assessment: 3.50%|
|Points/Miles Reinstatement Fee||₹ 200 per reinstatement|
*The Annual Membership Renewal fee of Rs. 4500 will be 100% waived off if total spends on American Express Credit Card in the immediately preceding membership year is Rs. 150,000; else 50% waived off if total spends on American Express Credit Card in the immediately preceding membership year is Rs. 90,000.
The American Express Membership Rewards® Credit Card- Eligibility Criteria
An applicant should meet the following criteria in order to be eligible for this credit card-
- He/she should a resident of India.
- He/she must have a personal annual income of ₹ 6 Lakhs or more.
- He/she should be at least 18 years of age.
How to Apply for the American Express Membership Rewards® Credit Card
It is very easy to apply for The American Express Membership Rewards® Credit Card. You can find this card on Paisabazaar.com’s credit card section. Just fill in your details such as name, mobile number, email address, income, etc. After this, you can check your eligibility for this card. Apply for this credit card by filling in the detailed application form and submit. A representative from the bank will collect the required documents at your doorstep. Once approved, you will receive your card within 7-10 business days.