|American Express Membership Rewards® Credit Card Rating|
Annual Fee ★★★
Travel Benefits ★
Offers & Discounts ★★★
|Overall Rating ★★★|
American Express Membership Rewards® Credit card remains one of the popular credit cards when it comes to reward points. This card is best suited for cardholders who want to earn reward points on every transaction – be it online or offline. Check out American Express Membership Rewards Credit Card Review for more details:
Features of American Express Membership Rewards® Credit Card
Bonus Membership Rewards – Avail 4000 membership rewards on paying the annual fee of this card.
Reward Points – Since the credit card is designed specifically for reward point earners, the card comes with 1 membership point on every Rs.50 spent. Reward Points are not earned on transactions on fuel, insurance, utility payments and cash transactions.
Annual Fee offer – On paying the first year annual fee, the cardholders will get 5000 bonus membership reward points.
Fuel Surcharge Waiver – On fuel transactions up to Rs.25, 000 is waived off and 0.3% convenience fee is charged on transactions more than Rs.25,000 applicable only at HPCL fuel stations.
Gold Collection Offers – The reward points can be redeemed under the 18 karat and 24 karat Gold Collection.
24 Karat Collection includes –
- American Express Domestic Travel e-voucher worth Rs.11,000
- Bose sound link colour Bluetooth speaker
- Statement credit worth Rs. 10,000
18 Karat Gold collection –
- Amazon e-gift voucher worth Rs.8,000
- Tanishq Voucher worth Rs.7,500
- Statement credit worth Rs. 7,500
What are the Fee and Charges related with American Express Membership Rewards Credit Card?
The key fee and charges of American Express Membership Rewards Credit Card are mentioned below:
|Annual Fee||Rs.1,000 plus applicable taxes|
|Renewal Fee||Rs.4,500 plus applicable taxes*|
|Add-on Fee (per annum)||Nil for up to 2 add-on cards|
|Interest-Free Period||51 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 Rs.10|
|Record of Charge/ Summary of Charge Retrieval Fee||Rs.100 per Retrieval|
|Cash Advance Charges||3.5% of the Cash Advance amount, subject to a minimum of Rs.250|
|Duplicate Statement Fee||Rs.100 per statement for statements older than 3 months|
|Cheque/ECS/NACH Return Fee||Rs.250 per Returned Instrument|
|Foreign Currency Transactions||Currency Conversion Factor Assessment: 3.50%|
|Points/Miles Reinstatement Fee||Rs.200 per reinstatement|
*The 2nd Year Annual Membership Renewal fee of Rs. 4,500 + Applicable taxes shall be 100% waived off if the total spends in the immediately preceding membership year are Rs. 150,000; else 50% waived off if total spends in the immediately preceding membership year are Rs. 90,000. No fee waiver will be granted if you do not meet the above spends threshold. This offer is only valid for new to the bank customer. i.e existing American Express Customer won’t be allowed to avail this offer.
Which are the other Credit Cards for Reward Points?
After cashback, earning reward points on credit card remain to be one of the top attractions for the cardholders. The more transactions you make with your credit card, the more reward points you earn. Citibank Rewards, YES Prosperity Rewards Plus, SBI Card Prime and Standard Chartered Platinum Rewards credit card are some other cards where you can earn reward points.
|Credit Card||Annual Fee||Key Feature||Paisabazaar Rating|
|Earn 1 reward point for every Rs. 125 spent|
Earn 10X reward points on apparel and departmental store spends
|Earn 5X reward points on dining and fuel spends|
Earn 1 reward point on every spending of Rs. 150 on all the other categories
|Earn 3 reward points on every Rs. 100 spent on Grocery and Supermarket spends|
Earn 2 reward points are earned per Rs. 100 spent on other categories
|Earn up to 20 reward points per Rs 100 spent on standing instructions set for utility bill payments|
Get E-gift voucher worth Rs. 7,000 from Yatra.com/Pantaloons on spending Rs. 5 lakh in a year
Who Should get American Express Membership Rewards Credit Card?
The annual fee on this credit card is pretty decent given the kind of reward points that it has to offer. Also, with its Gold Karat Collection offer, the card shines with some of the best luxurious benefits. So this credit card is ideal for:
- Cardholders looking to earn Reward Points
- Cardholders looking for a low annual fee card that comes with Gold Karat Collection offer
Drawbacks of American Express Membership Rewards Credit Card:
When it comes to earning reward points, there are many credit cards that are in competition with American Express Membership Rewards credit card, some of which we mentioned above. While other reward points credit card offer much more than what MRCC has to offer, some of which include:
- There are no travel benefits/airport lounge privileges on this credit card
- Not many entertainment benefits are offered with this credit card
There is no doubt the reward rate on this credit card makes it stand out and is perhaps best suited for reward point earners. Barring a few features, American Express Membership Rewards is a good choice for everyday use that comes with an affordable annual fee. Also, American Express has strict credit score policy when it comes to applying for a new credit card. YES Prosperity Rewards Plus, SBI Card Prime and Standard Chartered Platinum Rewards are some other credit cards in the reward points category which you can consider if you are specifically looking for a reward credit card.
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