By Shubham Sharma
Updated On September 15, 2021

American Express Membership Rewards® Credit Card is a card issued by American Express that rewards you with exclusive benefits and privileges on your spendings. The Membership Rewards® Credit Card charges you a joining fee of Rs 1,000 and a renewal fee of Rs 4,500. The renewal fee of Rs 4,500 can be waived off on annual spending of Rs 1,50,000 or above. You can earn 1 membership reward point for every Rs 50 spent excluding fuel transactions, Utility bill payments, insurance, and cash transactions. On using your card 4 times on transactions of Rs 1,500 or more, get a bonus of 1,000 membership reward points. The Membership Rewards® Credit Card also has several other rewards and benefits such as monthly milestone rewards, fuel surcharge waiver, entertainment benefits, and insurance benefits. Read below to know more about this credit card.

Best Suited For

Shopping |

Joining Fee

Rs 1,000 (plus applicable taxes)

Reward Type

Reward Points |

Product Details

  • Welcome benefit of 4,000 Bonus Membership Reward Points
  • 1 Membership Reward Point for every Rs 50 spent
  • 2X Membership Rewards on all spends through Rewards Multiplier portal.
  • 1,000 Membership Reward Points on the spending of Rs 20,000 in a calendar month
  • 5,000 Membership Reward Points on paying the 1st-year renewal fee of Rs 4,500
  • A spend-based waiver on a renewal fee
  • 1% fuel surcharge waiver at all HPCL fuel stations
  • Get special dining discounts up to 20% off

Rewards and Benefits

Welcome Benefits

Welcome benefit of 4,000 Bonus Membership Reward Points can be availed on payment of joining fee of Rs 1,000 and spending of Rs 15,000 within the first 90 days of the card issuance.

Movie & Dining

Get special dining discounts up to 20% off using your American Express Reward credit card at select restaurants

Rewards Rate

1 membership reward point for every Rs 50 spent excluding fuel transactions, Utility bill payments, insurance, and cash transactions

Reward Redemption

You can redeem the membership reward points accrued with American Express 18 and 24 Karat Gold Collection

Travel

N/A

Golf

N/A

Domestic Lounge Access

N/A

International Lounge Access

N/A

Insurance Benefits

N/A

Zero Liability Protection

You get liability protection assurance such as zero lost card assurance, 24×7 card assistance, emergency card replacement, Dispute resolution

Fees & Charges

Joining Fee

Rs 1,000 (plus applicable taxes)

Renewal Fee

Rs 4,500 (plus applicable taxes)

Spend based Waiver

A spend-based waiver on a renewal fee of Rs 4,500 on annual spending of Rs 1,50,000. Get 50 percent waiver on the renewal fee on annual spending between Rs 90,000 to 1,49,999

Rewards Redemption Fee

Rs 250 per redemption request

Rewards Redemption Fee

Rs 250 per redemption request

Foreign Currency Markup

3.5% on the conversion amount

Interest Rates

3.5% per month

Fuel Surcharge

You get 0%waiver on fuel convenience fee at HPCL fuel stations on fuel transactions below Rs 5,000. You get a 1% waiver on the fuel convenience fee at all fuel stations across India.

Cash Advance Charge

2.5% of the amount withdrawn subject to a minimum amount of Rs 250

Add-on Card Fee

Rs 1,500 (plus applicable taxes)

American Express Membership Rewards® Credit Card Welcome Benefits

Membership Rewards® Credit Card comes with a welcome benefit offering 4000 Bonus Membership Reward Points. This welcome bonus can be availed on payment of joining fee of Rs 1000 and spending of Rs 15,000 within the first 90 days of the card issuance. The information related to the welcome benefits will be communicated via SMS or Email at your registered phone number or Email ID.

American Express Membership Rewards® Credit Card Rewards

  • You earn 1 Membership Reward Point on every Rs. 50 you spend.
  • You don’t earn any Membership rewards on fuel transactions, utility bills, and insurance categories.

Reward Points Redemption

The membership rewards can be redeemed against various products and categories, including travel, shopping, and many more, at the AmEx reward redemption portal. The reward points you earn under the AmEx 18 & 24 gold collection can be redeemed as follows:

  • Under 18 Karat Gold Collection/18,000 points, you can simply redeem your Membership reward points accrued through either of the following mentioned-:
    • E-Gift Voucher from TAJ worth Rs 9,000/-
    • E-Voucher from Amazon worth Rs 7,000/-
    • Statement cash of Rs 6,000/-
  • Under 24 Karat Gold Collection/ 24,000 points, you can redeem your Membership reward points accrued through either of the following mentioned-:
    • E-Gift Voucher from TAJ worth Rs 14,000/-
    • E-Voucher from Tanishq worth Rs 10,000/-
    • Statement cash of Rs 9,000/-

Monthly Milestone Rewards

  • You get 1,000 Bonus Membership Reward Points on completing 4 transactions of Rs 1,500 or more on your American Express Membership Rewards® credit card, in a calendar month.
  • You get spend-based 1,000 Membership Reward Points on spending Rs 20,000 in a calendar month. The cardholder needs to enroll in order to avail this benefit.
  • Membership Reward Points accumulated using your credit card shall be assigned to the cardholder within 30 days after completion of the calendar month
  • The Membership Reward Points accumulated under the spend-based monthly milestone benefit can not be redeemed against statement cash.

Spend-Based Renewal Fee Waiver

You get a spend-based waiver on a renewal fee of Rs 4,500 on annual spending of Rs 1,50,000 in the previous year. You also get a 50 percent waiver on the renewal fee on annual spending between Rs 90,000 to 1,49,999 in the previous year.

Fuel Surcharge Waiver

  • 1% fuel surcharge waiver at all HPCL fuel stations on fuel transactions up to Rs 5,000.
  • 1% fuel surcharge is applicable at BPCL and IOCL fuel stations on fuel transactions subject to a minimum value of Rs 10.
  • 2.5% fuel surcharge is applicable on your fuel transactions all other fuel stations

Other Benefits

  • You get 5,000 Membership Reward Points on paying the 1st-year renewal fee of Rs 4,500. The Membership Reward Point will reflect in the cardholder account within 90 days of the renewal.
  • Get special dining discounts up to 20% off using your American Express Reward credit card at select restaurants
  • You get liability protection assurance such as zero lost card assurance, 24×7 card assistance, emergency card replacement, Dispute resolution.

Conclusion

American Express Membership Rewards® credit card is a great card to begin their credit card journey for anyone looking to buy a credit card. This credit card comes with a nominal joining fee but charges a high renewal fee from its customers but you also get a renewal fee waiver option on an annual spend of Rs 1,50,000 in the previous year. It is a highly rewarding card providing a decent reward rate along with exciting benefits and privileges to its customers. What do you think about this credit card? Do write to us in the comments?

FAQs:

No, you can not earn membership reward points on fuel transactions. You earn up to 1 membership reward point for every Rs 50 spent excluding fuel transactions, Utility bill payments, insurance, and cash transactions

1 Memebership Reward point = Rs 0.33 in case of statement cash redemption under 18 Karat Gold Collection

1 Memebership Reward point = Rs 0.37 in case of statement cash redemption under 24 Karat Gold Collection

You get charged with a renewal of Rs 4,500 plus applicable taxes.

You get 5,000 Membership Reward Points on paying the 1st-year renewal fee of Rs 4,500. The Membership Reward Point will reflect in the cardholder account within 90 days of the renewal

No, you do not get a 100% renewal fee waiver on an annual spending of Rs 1,00,000. However, you do get a 50% renewal fee waiver on annual spending of Rs 1,00,000.

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