Savings Calculator
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If you spend upto ₹0/yr
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₹1,000 Plus Applicable Taxes
Waived off on annual spends of Rs. 1.5 lakh₹4,500 Plus Applicable Taxes
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1st Year Fee: ₹1,000* Plus Applicable Taxes
Reward Points
Earn reward points on every spend
Shopping
Redeem rewards for top brand vouchers
Fuel
Avail fuel convenience fee waiver
Author: Shruti Sharma
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About American Express Membership Rewards® Credit Card
American Express Membership Rewards® Credit Card is designed for users who prefer flexibility in redeeming rewards and often make online purchases. With this card, you can earn 1 Membership Rewards Point for every Rs. 50 spent. However, unlike the conventional rewards redemption, this card offers redemption against multibrand vouchers under its 18 Karat and 24 Karat Gold collection.
In addition to regular reward points, the card offers welcome benefit of 4,000 Membership Rewards Points upon joining and spending Rs. 15,000 in the first 90 days. Besides this, you can earn an additional 1,000 reward points as a monthly milestone benefit and 5,000 reward points on the first year card renewal.
Furthermore, the annual fee can be partially or fully waived off based on spending levels, making it a suitable option for those who use their card frequently. The card largely targets the mid-range customer segment and comes at a slightly higher annual fee of Rs. 4,500 but a low joining fee of Rs. 1,000.
Reward Benefits
You can earn 1 Membership Rewards Point for every Rs. 50 spent except for spends on fuel, insurance, utilities, cash transactions and EMI conversion at point of sale.
You can redeem the earned reward points for the vouchers of top brands against the 18 Karat and 24 Karat Gold Collection. Details for the same are as follows:
18 Karat Gold Collection (18,000 MR Points):
24 Karat Gold Collection (24,000 MR Points):
Note: American Express® updates the brands for gift vouchers from time to time. You must check the official website for the latest options.
Other Features & Benefits
Renewal Fee Waiver: You can avail annual fee renewal fee waiver as per the below details:
Additional Rewards: 5,000 Membership Rewards Points upon first year card renewal, on payment of annual membership fee.
Bonus Membership Rewards Points: 1,000 Membership Rewards Points for using your card 4 times for transactions of Rs. 1,500 or above in a calendar month.
Welcome Benefit: 4,000 Membership Rewards Points on the payment of joining fee and on spending Rs. 15,000 within the first 90 days of card membership.
Monthly Milestone Benefit: 1,000 Membership Rewards Points on spending Rs. 20,000 or more in a calendar month.1
EMI Conversion: Convert purchases of Rs. 5,000 or above into easy EMI at a low interest rate.
Fuel Convenience Fee Waiver: You can save on your fuel expenses as per the below details:
Savings Calculator
This is mandatory field
If you spend upto ₹0/yr
Spend Rewards₹0
Milestone Benefits₹0
You save₹0
₹1,000 Plus Applicable Taxes
Waived off on annual spends of Rs. 1.5 lakh₹4,500 Plus Applicable Taxes
NANeed Help understanding?
American Express Membership Rewards® Credit Card: Fees & Charges
Fee Type | Amount |
---|---|
Joining Fee | Rs. 1,000 + Applicable Taxes |
Annual Fee | Rs. 4,500 + Applicable Taxes (Waived off on spending Rs. 1.5 Lakh and above in the previous year of card membership) |
Finance Charges | 3.5% p.m. |
Cash Advance Fee | 3.5% (Minimum of Rs. 250) |
Things to Know Before you apply
Consider this card if:
You put most spends on credit cards and can accumulate substantial reward points
You are not looking for travel benefits on the credit card
You frequently shop with Flipkart, Amazon, Shoppers Stop, etc. and would prefer redemption against these brands
You will be able to spend Rs. 1.5 Lakh in a year to get the annual fee completely waived off
Eligibility and Documentation
Occupation: Salaried or Self-employed
Minimum Age Requirement: 18 years
Minimum Income Requirement: Rs. 6 LPA
Paisabazaar Expert Review
Rewards4.0/5
Welcome Benefits3.5/5
Milestone Benefits3.0/5
American Express Membership Rewards® Credit Card is ideal for frequent shoppers seeking flexible rewards and benefits. Cardholders can earn Membership Rewards Points redeemable through exclusive brand vouchers via 18 Karat and 24 Karat Gold Collection, including popular brands like Amazon, Flipkart, Myntra, Shoppers Stop, etc.
American Express Membership Rewards® Credit Card is a reasonable option if your goal is to earn reward points on daily spends. It allows you to redeem your earned reward points against vouchers from top brands like Amazon, Flipkart, etc. This might also be a restriction, as you can only redeem the reward points against vouchers, but it could also be a good option if you frequently shop online. Otherwise, despite being a rewards credit card, this card does not have much to offer. There are other low annual fee credit cards available in the market that offer good rewards/cashback along with other benefits.
Insights from Industry Experts
Frequently Asked Questions
Everything you need to know about the this credit card
No, you can only apply through the official website of American Express®. You are required to fill out an application form and submit it online along with required documents. After this, American Express will verify your details and process credit card request.
Yes, you can withdraw cash using your American Express Membership Rewards® Credit Card. However, a cash advance fee of 3.5% will be charged for withdrawing cash. In addition to this, finance charges will start accruing until you pay off the withdrawn amount in full. Therefore, it is advisable not to withdraw cash using your credit card as it incur high charges.
This credit card lets you earn Membership Rewards Points on your purchases. You can redeem the earned reward points against gift vouchers of top brands by logging in to your rewards account online. All you need to do is select a plan between 18 karat or 24 karat and redeem the reward points against the vouchers.
You must report to the customer care of American Express as soon as you notice the loss of your card. To do so, you can call on the 24-hour cardmember helpline number. Also, if your card is damaged, you can send a request for a replacement card simply by logging in to your American Express account.
You can pay your credit card bill online through the facilities like NEFT and UPI. Apart from this, if you want to pay your bills offline, you are required to send a cheque or draft to the head office of American Express at Gurugram.
Your card may be declined due to several reasons; the most common being insufficient credit limit. If you have enough amount for the purchase and it is still declined, you must contact the customer care of American Express to know the reason for such decline and get it fixed.
Shruti Sharma
Content WriterShruti Sharma is a skilled content writer with a passion for simplifying personal finance for consumers. Specializing in credit cards and financial planning, she offers valuable insights that empower individuals to make informed financial choices. Through her writing, she shares practical tips and guides readers through the nuances of credit card usage.
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