India has the highest number of youths. These people are mostly trying to enter the financial world, which makes it a perfect market for financial tools like credit cards. From the moment youngsters start earning and living away from their families, it is understandable that they sometimes go over budget, which may cause them issues for the rest of the month.
Credit cards become very helpful in such situations, as they can provide credit for your big-ticket purchases, so you are always in money. There are many types of cards one can opt for, but the American Express Membership Rewards Credit Card and HDFC Bank Millennia Credit Card are the two most prevalent cards that we will look into. As both these cards are from two different issuers, the reasons they are popular are also uncommon to an extent. We can say that the American Express Membership Rewards Credit Card is the most popular and maybe influential because a multi-national brand itself curates it. American Express has a great image in the market.
At the same time, the HDFC Bank Millennia Credit Card is popular because of its key features and benefits. There are several advantages that both credit cards have, which are different from one another.
On the Basis of Welcome Benefits
Both credit cards have the same joining fee of ₹1,000+GST, so there’s no difference at the start. However, the annual fees are different. The HDFC Millennia Credit Card costs ₹1,000+GST per year, while the American Express Membership Rewards Credit Card costs ₹4,500+GST starting from the second year.
For welcome benefits, HDFC offers 1,000 CashPoints easily, while American Express offers a higher bonus of 4,000 reward points, but only if you spend ₹15,000 within the first 90 days. Overall, HDFC Millenia is a better choice if you want a low-cost card, but if you want more rewards, Amex offers more upfront, though it has higher yearly fees.
| Feature | HDFC Millennia Credit Card | American Express Membership Rewards Credit Card |
| Joining Fee | ₹1,000 + GST | ₹1,000 + GST |
| Annual Fee | ₹1,000 + GST | ₹4,500 + GST |
| Welcome Benefit | 1,000 CashPoints | 4,000 Reward Points (After Spending ₹15,000 in 90 Days) |
On the Basis Reward Structure
The HDFC Millennia Credit Card is very simple to use because it gives you direct cashback. You get 5% cashback on popular online apps like Amazon, Flipkart, Swiggy, etc., and 1% on other spending. However, there is a monthly cap of 1,000 points on 5% and 1,000 points on 1%, so your total earnings are limited each month.
| Value of CashPoints on Redemption | |||
| Product Catalog | Flights/Hotels on Smartbuy | Cashback | Airmiles |
| ₹0.30 | ₹0.30 | ₹1 | 0.30 AirMiles |
On the other hand, the American Express Membership card gives 1 point per ₹50 spent, which is a slower earning rate and also excludes categories like fuel, utilities, and insurance. At the American Express reward redemption portal, membership rewards can be redeemed against a variety of products and categories, including travel, shopping, and more. The reward points you earn under the AmEx 18 & 24 gold collection can be redeemed as vouchers from brands like Taj, Amazon, Flipkart, Myntra, and Shoppers Stop across travel and shopping.
So in simple terms, HDFC Millennia is better for instant and easy cashback, while Amex is better if you are willing to save points and redeem smartly for higher value later.
On the Basis of Milestone Benefits
The American Express Membership Rewards Credit Card and the HDFC Millennia Credit Card differ mainly in how their milestone benefits work. The American Express card gives rewards every month. You can earn 1,000 points by making four transactions of ₹1,500 or more, and another 1,000 points by spending ₹20,000 in a month.
On the other hand, the HDFC Millennia Credit Card gives ₹1,000 in vouchers only if you spend ₹1 Lakh in a quarter, which means it requires higher spending and takes longer to earn rewards. In terms of milestone benefits, the American Express Membership card clearly rewards more compared to the Millenia.
On the Basis of Dining Benefits
The HDFC Millennia credit card gives you ₹200 off on a ₹2,000 bill through Swiggy Dineout, and you can use this offer twice a month. So in total, you save up to ₹400 monthly. It’s easy to use, but the minimum order value should be ₹2,000.
The American Express Membership Rewards card works differently. It gives around 20% discount at selected restaurants.
Quick Comparison
Here is a comparison between the two cards –
| Features | American Express Membership Rewards Credit Card | HDFC Bank Millennia Credit Card |
| Interest Rate | 3.5% Per Month | 3.75% Per Month (45% Annually) |
| Rewards |
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| Dining | Up to 20% Off on Selected Restaurants | Flat ₹200 Discount on Swiggy Dineout (Minimum Order Value ₹2,000). Valid Twice Each Month |
| Foreign Currency Markup | 3.5% | 3.5% |
| Milestone |
|
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| Spend-Based Waiver |
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| Rewards Redemption Fee | Nil | ₹99 |
Bottom Line
Both cards are good, but the HDFC Millennia Credit Card is the better choice for most people. It has a low annual fee and gives simple cashback on everyday spending, especially online. It’s very easy to use, no need to track points or think about complicated redemptions. You get 5% cashback on selected popular brands, which makes it very straightforward and easy for daily use.
On the other hand, the American Express Membership Rewards Credit Card is more complicated. You have to keep track of your spending to get the best value, and it really works only if you spend at least ₹20,000 every month. It also has a higher annual fee, so it’s not for everyone.
Overall, Millennia is great for everyday use and simplicity, while MRCC needs more effort and planning. If you want something easy and hassle-free, Millennia is the better option.