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American Express Membership Rewards Credit Card
★★★★☆(4.5)If you are new to the world of credit cards and are looking for one that offers great rewards, the American Express Membership Rewards Credit Card can be the ideal fit for you. It offers a reward rate ranging from 1% to 5%. With just a nominal joining fee of ₹1,000, you can enjoy the welcome benefit of 4,000 Membership Rewards Points, as well as access to vouchers from Taj, Flipkart, Myntra, Amazon, and many more. Although it is an entry-level credit card, you can get a return on every spend that is as good as any other super-premium credit card. Let's see how. 👇
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Features and Benefits
Aspects that make spending using this card lit as the sun!
Fee and Charges
Think of these as small investments to keep your credit card running smoothly.
Charges
Joining Fee
₹1,000Annual Fee
₹4,500Annual Percentage Rate
42%Add-on Card Fee
₹1500Minimum Repayment Amount
5%Cash Withdrawal Fee
3.50%Cash Advance Limit
NACard Replacement Fee
NilForeign Transaction Fee
3.50%Over Limit Penalty
2.50%Fuel Transaction Surcharge
1%Reward Point Value
₹0.50Late Payment Charges
30%of the minimum amount due, subject to a minimum of ₹ 500 and a maximum of ₹ 1,000.Pros
Aspects that make this credit card amazing.
- ⮚The card gives reward points on various purchases.
- ⮚The card offers a waiver on Fuel Convenience Fee.
- ⮚It has monthly milestone benefits.
- ⮚It offers 24x7 card assistance.
- ⮚It comes with zero lost card liability.
Cons
Aspects this credit card lacks.
- ⮚No access to airport and railway lounges. Reward points are not very attractive.
- ⮚No concierge services other than card assistance.
- ⮚Every EMI transaction made at a POS, online or offline, is subject to a fee of ₹99 plus taxes.
American Express Membership Rewards Credit Card Review
This is the truth, the whole truth, and nothing but the truth; brought to you by the other users.
The American Express Membership Rewards Credit Card is an entry-level credit card designed to give attractive perks to its users. The perks include a waiver of fees on fuel transactions, discounts on dining, easy EMI Conversions, and many other benefits in the form of reward points. But other essential benefits like access to airport and railway lounges, cashback, and discounts on daily utilities and essentials seem to be missing on this American Express Membership Rewards Credit Card. Though the joining fee seems to be nominal, the annual fee is quite substantial against the benefits this card offers.
If you think the American Express Membership Rewards Credit Card is not a suitable match for you, then you can refer to the credit cards mentioned in the below:
1. Flipkart Axis Bank Credit Card 2. SBI SimplyCLICK Credit Card 3. HDFC Moneyback Plus Credit Card
Overview
| Best for | Lifestyle & Rewards |
|---|---|
| Joining Fee | ₹1,000 + Applicable Taxes |
| Annual Fee | ₹4,500 + Applicable Taxes |
| Welcome Benefits | 4,000 Welcome Points |
| Card Network | American Express |
American Express Membership Rewards Credit Card Maximum Cashback
| 18 Karat Gold Collection / 18,000 points | 24 Karat Gold Collection / 24,000 points |
|---|---|
| Taj voucher worth ₹9,000 | Taj voucher worth ₹14,000 |
| Shoppers Stop voucher worth ₹8,000 | Shoppers Stop voucher worth ₹11,000 |
| Myntra voucher worth ₹8,000 | Vistara voucher worth ₹11,000 |
| BigBasket voucher worth ₹8,000 | Tanishq voucher worth ₹10,000 |
| Amazon voucher worth ₹7,000 | Amazon voucher worth ₹9,000 |
| Croma voucher worth ₹7,000 | Croma voucher worth ₹9,000 |
| Flipkart voucher worth ₹7,000 | Flipkart voucher worth ₹9,000 |
Who should get an American Express Membership Rewards Credit Card?
The American Express Rewards Credit Card is a beginner's card, beneficial for those who frequently spend across various categories such as fuel, dining, shopping, etc. It allows users to earn reward points on other purchases as well. In exchange, it charges a hefty amount in the form of an annual fee. That is why this AMEX Rewards Credit Card is best suited for individuals who want such benefits and don't mind paying a high fee for this card.
How to Apply for an American Express Membership Rewards Credit Card?
American Express Membership Rewards Credit Card Eligibility
- Age: Minimum 18 Years
- Occupation: Salaried or Self Employed
- Income: Salaried: ₹50,000 p.m., Self-Employed: ITR > ₹6.0 Lakhs p.a.
Documents Required
- Proof of identity: Proof of Identity: PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI or any other government-approved photo ID proof.
- Proof of Address: Proof of Address: Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 months old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, or any other government-approved address proof.
- Proof of Income: Proof of Income: Latest one or two salary slips (not more than 3 months old), latest Form 16, and the last 3 months’ bank statement.