The American Express Membership Rewards Credit Card is a premium offering designed for individuals who seek to maximize their rewards on everyday purchases. This card is ideal for those who enjoy collecting Membership Rewards Points, which can be redeemed for a variety of options, including travel, shopping vouchers, and statement credit. With its extensive rewards program, this card is suited for those who prefer a flexible rewards structure and premium benefits.
Card Overview
| Feature | Details |
|---|---|
| Card Type | Rewards Credit Card |
| Reward Rate | Up to 1,000 Membership Rewards Points per month |
| Reward Value | 1 Reward Point = ₹0.25 (on average) |
| Annual Fee | ₹4,500 + GST |
| Unique Selling Points | Premium Membership Rewards program, exclusive offers and events |
| Rating | ★★★★☆ (4.1/5) |
Fees and Charges for American Express Membership Rewards Credit Card
| Fee Type | Charges |
|---|---|
| Joining Fee | ₹4,500 + GST |
| Annual Fee | ₹4,500 + GST |
| Finance Charges | 3.5% per month (42% per annum) |
| Foreign Transaction Fee | 3.5% + GST |
| Cash Advance Fee | 3.5% of the amount withdrawn (min ₹250) |
| Late Payment Fee | ₹400 to ₹1,000 depending on the |
Benefits of American Express Membership Rewards Credit Card
The American Express Membership Rewards Credit Card offers several premium benefits:
- Rewards Program: Earn 1,000 Membership Rewards Points by spending ₹4,000 or more on four or more transactions in a month.
- Travel Benefits: Access to exclusive travel offers and discounts on flights, hotels, and car rentals through the American Express Travel portal.
- Dining Privileges: Enjoy exclusive discounts and offers at partner restaurants across India.
- Lifestyle Benefits: Access to a variety of curated experiences, events, and offers, including luxury shopping and entertainment.
Welcome Benefits
| Welcome Benefit | Details |
|---|---|
| Bonus Reward Points | 4,000 Membership Rewards Points upon spending ₹15,000 in the first 90 days |
| Additional Benefits | N/A |
Rewards from American Express Membership Rewards Credit Card
| Spend Category | Reward Rate |
|---|---|
| Everyday Purchases | 1 Membership Rewards Point per ₹50 spent |
| Bonus Points | 1,000 Membership Rewards Points for spending ₹4,000 across 4 transactions per month |
| Reward Value | 1 Reward Point = ₹0.25 on average |
| Rewards Expire in | Never (points do not expire) |
Milestone Benefits of American Express Membership Rewards Credit Card
| Spending Milestone | Reward Earned |
|---|---|
| ₹1.9 lakh annual spend | 5,000 Membership Rewards Points |
| ₹4 lakh annual spend | Additional 7,500 Membership Rewards Points |
Redemption of Reward Points
Membership Rewards Points can be redeemed in a variety of ways:
- Travel Bookings: Points can be redeemed for flights, hotels, and car rentals through the American Express Travel portal. This option often provides a higher value for your points.
- Gift Vouchers: Points can be converted into vouchers for popular brands such as Amazon, Flipkart, and lifestyle stores. Typically, 1 Reward Point equals ₹0.25 when redeemed for vouchers.
- Statement Credit: You can use your points to reduce your outstanding balance on your credit card statement. The redemption rate is typically lower, with 1 Reward Point equating to ₹0.25.
- Shopping: Points can be used for direct purchases at various partner merchants or through the American Express rewards catalog.
Gift Vouchers Available
Points can be redeemed for gift vouchers from a variety of popular brands including:
- Shopping: Myntra, Amazon, Pantaloons, Levi’s, Lifestyle, Shoppers Stop
- Electronics: Croma, Reliance Digital
- OTA: MakeMyTrip, EaseMyTrip
- Hotels: Oberoi Hotels, Taj Hotels, ITC Hotels
- Cabs: Uber, Ola
Airport Lounge Access with American Express Membership Rewards Credit Card
| Access Type | Details |
|---|---|
| Domestic Lounges | 4 complimentary visits per year |
| International Lounges | Not included |
| Add-on Cardholder Benefits | Same as primary cardholder |
This card does not offer specific airport transfer benefits.
American Express Membership Rewards Credit Card Review
Editor’s Rating
Summary
The American Express Membership Rewards Credit Card is a strong choice for those who value a premium rewards program with flexible redemption options. With the ability to earn points on everyday spending and access to exclusive American Express offers, this card is well-suited for individuals who want to maximize rewards for lifestyle purchases.
Pros and Cons of American Express Membership Rewards Credit Card
| Pros | Cons |
|---|---|
| Strong rewards program with flexible redemption | High annual fee |
| No expiration on Membership Rewards Points | No international lounge access |
| Premium lifestyle and dining benefits | High forex markup fee |
Cards Similar to American Express Membership Rewards Credit Card
| Feature | American Express Membership Rewards Card | HDFC Regalia First Credit Card | Axis Bank ACE Credit Card |
|---|---|---|---|
| Annual Fee | ₹4,500 + GST | ₹1,000 + GST | ₹499 + GST |
| Rewards Rate | 1 RP per ₹50 spent | 4 RP per ₹150 spent | Up to 5% on select categories |
| Reward Value | 1 RP = ₹0.25 | 1 RP = ₹0.30 | Direct cashback |
| Special Benefits | Premium lifestyle and dining benefits | Travel and dining privileges | High cashback on utility payments |
FAQ
What is the annual fee for the American Express Membership Rewards Credit Card?
The annual fee for the American Express Membership Rewards Credit Card is ₹4,500 + GST.
How can I earn Membership Rewards Points with this card?
You can earn 1 Membership Rewards Point for every ₹50 spent on eligible transactions. Additionally, you can earn 1,000 Membership Rewards Points each month by making 4 or more transactions of ₹1,000 or more.
What can I redeem my Membership Rewards Points for?
Membership Rewards Points can be redeemed for travel bookings, gift vouchers, statement credit, or direct purchases from partner merchants. The redemption value typically averages ₹0.25 per point.
Does this card offer airport lounge access?
Yes, the American Express Membership Rewards Credit Card offers 4 complimentary domestic airport lounge visits per year.
Are there any milestone rewards with this card?
Yes, you can earn 5,000 Membership Rewards Points upon reaching an annual spend of ₹1.9 lakh and an additional 7,500 points upon reaching ₹4 lakh in annual spends.
