American Express Membership Rewards Credit Card gives you good cashback rates on your spending along with offers like welcome bonuses, gift vouchers, milestone rewards, etc.
Card Type: Reward/Cashback
Reward Points
Rewards:
- You get 1 Membership Rewards point for every Rs.50 eligible purchases Transactions not eligible for rewards include those related to fuel, insurance, utilities, cash transactions, and EMI conversions at the point of sale.
- Bonus points offers:
- Bonus Membership: Obtain 1,000 bonus points when you use your card for at least 4 transactions of Rs. 1,500 or more each in a calendar month.
- Welcome Bonus: If you spend Rs 15,000 with the help of this credit card within 90 days of card activation, you will be given 4000 membership reward points.
- Monthly Milestone benefit: You get 1000 Membership Reward Points on spending Rs 2000 in a month.
- Additional reward on Card Renewal: When you pay the 1st year annual fee of this credit card, you get 5000 membership reward points within 90 days of paying the fee.
Fees:
- Joining Fee of Rs. 1000 Excluding taxes.
- Annual fee of Rs. 4,500 excluding taxes.
- The annual fee can be waived completely if you spend Rs. 1,50,000 or more on the card in the previous membership year.
- Alternatively, you can get a 50% discount on the annual fee if your spending on the card in the preceding membership year ranges from Rs. 90,000 to Rs. 1,49,999.
Other benefits:
- EMI conversion: Convert purchases of Rs. 5,000 or above into easy monthly installments (EMI) at a low-interest rate.
- Milestone Benefit: With the help of this card, you get 1000 membership reward points for spending Rs 20,000 in a month.
- Renewal Benefit: When you spend Rs 1.5 lakh in a year with the help of this credit card, the annual fee of your credit card is waived.
- Contactless Payment: You are given the facility to make contactless payments with this credit card. To use it, you have to enable it by going to your card account.
- Fuel Convenience Fee Waiver at HPCL: Experience enticing discounts of up to 20% every time you dine at chosen restaurants.
Rewards Programme
- Choose any reward from the exquisite new 18 and 24 Karat Gold Collection, curated specially for you.
Redeem 24,000 MR points for an item from the exclusive 24 Karat Gold Collection of your choice.
- Taj voucher worth Rs. 14,000
- Shoppers Stop voucher worth Rs. 10,000
- Tata Cliq voucher worth Rs. 9,000
- Tanishq voucher worth Rs. 9,000
- Amazon voucher worth Rs. 8,000
- Flipkart voucher worth Rs. 8,000
- Reliance Digital voucher worth Rs. 8,000
Exchange 18,000 MR points for a selection from the luxurious 18 Karat Gold Collection of your preference.
- Taj voucher worth Rs. 9,000
- Shoppers Stop voucher worth Rs. 7,000
- Tata Cliq voucher worth Rs. 7,000
- Myntra voucher worth Rs. 7,000
- Amazon voucher worth Rs. 6,000
- Flipkart voucher worth Rs. 6,000
- Reliance Digital voucher worth Rs. 6,000
Pros & Cons
Pros
- Rewards Rate: You can earn Membership Rewards points on most purchases, with bonus points for certain categories like shopping with select brands.
- Flexible Redemptions: You can redeem your credit card reward points in travel gift card statement credits, Frequent Flyer program Marriott Bonvoy, etc.
- Monthly Spend Milestones and Renewal Benefits: On spending more with this credit card, you are given a good bonus that can meet your expenses for one month.
- Potential for Fee Waiver: If you spend more than the prescribed limit in the previous year, your annual fee is waived.
Cons
- Annual Fee: To use this credit card, you have to pay its annual fee, which can be a problem for some people (if you are not able to spend up to the prescribed limit).
- Limited Acceptance: Compared to Visa and MasterCard, American Express is accepted by fewer people. You cannot do it everywhere. You can do it only at those places that accept American Express.
- Reward Earning Exclusions: When you spend on fuel and insurance etc. with this credit card, you do not get reward points.
The American Express Membership Rewards Credit Card can prove to be a good card for those people who spend more on the categories in which American Express provides good reward points.
Please Read Our other credit card reviews
Disclaimer
We have obtained information about this credit card from the internet. For more information about this credit card, you can visit its official page.