American Express Company is an American-based multinational financial services corporation that specialises in payment cards. Having its headquarters in New York City, it is considered to be one of the most valuable companies in the world. Also, it is known as the largest traveller’s cheque provider worldwide.
American Express Bank provides different credit cards based on varied individual requirements, such as travel, shopping, dining, entertainment, etc. In addition to these cards, American Express also provides “Charge Cards” that do not have a pre-spending limit.
Some of the Amex cards are the Amex Gold Card, American Express Platinum Reserve Credit Card, Amex Membership Rewards Card, and many more. In this article, we will be discussing the Amex Membership Rewards® Card.
Key Highlights of American Express Membership Rewards® Credit Card | |
Best Suited for | Rewards & Shopping |
Joining Fee | INR 1,000 + Applicable Taxes |
Annual/ Renewal Fee | INR 4,500 + Applicable Taxes (Waived off if total spends on American Express Credit Card in the immediately preceding membership year is INR1,50,000) |
Minimum Income Requirement | INR 6 Lakh p.a. |
Welcome Benefit | 4,000 Membership Rewards Points on the payment of joining fee and on spending INR 15,000 in the first 90 days of card membership |
Best Feature | 1 Membership Rewards Point for every INR 50 spent except for selected categories |
Renewal Benefit | 100% renewal fee waiver on spending INR 1.50 Lakh and above in the immediately preceding membership year |
Milestone Benefit | 1,000 Membership Rewards Points on spending INR 20,000 in a month |
Should You Apply For This Card?
Mentioned are the reasons American Express Membership Rewards should be applied for:
- Most of the spends are dependent on credit cards and can earn reward points.
- You are a shopaholic who frequently shops on Flipkart, Shoppers Stop, Amazon, etc., and would like to redeem your purchases against the brands.
- You are not looking towards the travel benefits.
- You can spend INR 1.5 lakhs in a year so as to waive the annual fees.
Features and Benefits
Mentioned below are the features and benefits of the Amex Membership Rewards® Card:
- Earn 1,000 Bonus Membership RPs when the card is used 4 times on making transactions of INR 1,500 or above in any of the calendar months.
- Earn an additional 1,000 Membership Rewards points when INR 20,000 or more are spent in a calendar month. This is considered to be an enrollment-based benefit.
- Earn 5,000 Membership Rewards Points upon renewing your first-year Card Renewal and paying the annual membership fee. The points are credited within 90 days of the card’s renewal.
- Use your Card to make your next big purchase and pay in instalments.
- You can choose any of the reward options from the new 18 and 24-karat Gold Collection chosen for you.
- 24,000 MR points or 24 Karat Gold Collection: (any of the below mentioned can be chosen)
- Taj voucher worth INR 14,000
- Shoppers Stop voucher worth INR 10,000
- Tata Cliq voucher worth INR 9,000
- Tanishq voucher worth INR 9,000
- Amazon voucher worth INR 8,000
- Flipkart voucher worth INR 8,000
- Reliance Digital voucher worth INR 8,000
- 18,000 MR points or 18 Karat Gold Collection: (any of the below mentioned can be chosen)
- Taj voucher worth INR 9,000
- Shoppers Stop voucher worth INR 7,000
- Tata Cliq voucher worth INR 7,000
- Myntra voucher worth INR 7,000
- Amazon voucher worth INR 6,000
- Flipkart voucher worth INR 6,000
- Reliance Digital voucher worth INR 6,000
- Enjoy convenience and anytime assistance, along with exclusive benefits and much more. You can avail yourself of a host of privileges with your American Express Membership Rewards®Credit Card.
- Enjoy the flexibility and convenience of paying the Amex Credit Card bill either fully or partially. The spending can also be converted into easy monthly EMI with the American Express card.
- Enjoy discounts of up to 20% whenever you dine at select restaurants
- American Express Card might be enabled for contactless payments. To check if the Card is contactless or not, look for the symbol of the contactless network on the front and also at the back of your Card.\
Fees and Charges
Mentioned below are the fees and charges associated with American Express Membership Rewards Credit Card:
Type of Fee or Charge | Amount |
Joining Fee | INR 1,000 + Applicable Taxes |
Annual/ Renewal Fee | INR 4,500 + Applicable Taxes (Waived off if total spends on American Express Credit Card in the immediately preceding membership year is INR1.5 Lakh) |
Finance Charges | 3.5% p.m. |
Cash Advance Fee | 3.5% (Minimum of INR 250) |
Some Cards Similar to Amex Membership Rewards Credit Card
Credit Card | Annual Fee | Best Feature |
Flipkart Axis Credit Card | INR 500 | 5% cashback on Flipkart & Myntra | 4% cashback on Swiggy, Cleartrip, and Cure. Fit, PVR, Uber |
Amazon Pay ICICI Credit Card | Nil | 5% cashback on Amazon purchases for Prime members | 3% cashback on Amazon purchases for Non-prime members |
Standard Chartered Platinum Rewards Credit Card | INR 250 | Get 5 RPs on every INR 150 spent on the category dining and fuel |
SBI SimplyCLICK Credit Card | INR 499 | 10 reward points per INR 100 spent on online purchases made on Amazon/ Apollo24X7/ BookMyShow/ Cleartrip/ Eazydiner/ Lenskart/ Netmeds |
HDFC MoneyBack+ Credit Card | INR 500 | 10X CashPoints on Flipkart, Amazon, Swiggy, Reliance Smart SuperStore & BigBasket |5X CashPoints on EMI spend at merchant locations |
Eligibility Criteria
Mentioned below are the eligibility parameters to be met in order to apply for American Express Membership Rewards Credit Card:
- The minimum age of an applicant should be 18 years or above.
- An applicant should have a permanent residence in India.
- An applicant should have a good credit score.
- The annual income should be INR 6 lakhs or more in the case of both salaried and self-employed applicants.
- In the case of self-employed applicants, the company should be trading for the past 12 months.
Documents Required
Mentioned below is the list of documents required to be uploaded while applying for the Amex Membership Rewards Credit Card:
- Aadhar Card
- PAN Card
- Passport
- Voter’s ID
- Driving License
- Or any other government-approved photo ID.
- Bank statements for the previous 3 months
- Pay Slips for the previous 3 months
- Audited financials for the previous 2 years in case of self-employed
- Or, Form 16.