A Deep Dive Into American Express Membership Rewards Credit Card

American Express Membership Rewards Credit Card is a reasonable option if your goal is to earn reward points on daily spends. It offers flexibility in redeeming earned reward points against vouchers from top brands like Amazon, Flipkart, and more.

Let us explore in detail about American Express Membership Rewards Credit Card

Fee & Charges

First year fee - Rs 1,000 plus applicable taxes

Second year onwards - Rs 4,500 plus applicable taxes

Renewal fee waiver

100 per cent renewal fee waiver on spending Rs 1.50 lakh or above in the previous year of card membership
50 per cent renewal fee waiver on spending between Rs. 90,000 to Rs. 1.49 lakh in the previous year of card membership

Welcome Bonus

Receive 4,000 Bonus Membership Rewards Points as a welcome gift upon joining.

Bonus Membership Reward Points

Earn 1,000 Bonus Membership Rewards Points every month by making 4 transactions of Rs 1,500 or more in a calendar month.

Monthly Spend Milestone

Earn an additional 1,000 Membership Rewards points for spending Rs 20,000 or more in a calendar month.

Additional Rewards On Card Renewal

Earn 5,000 Membership Rewards Points upon first year card renewal, on payment of annual membership fee. Points to be credited within 90 days of Card renewal.

Rewards Program

Earn 1 Membership Rewards Point for every Rs. 50 spent, except for spend on fuel, insurance, utilities, cash transactions and EMI conversion at point of sale.

Reward Redemption Options

24,000 membership rewards point/24 karat gold collection -

Redeem your points for the following vouchers :

Taj voucher worth Rs. 14,000

Shoppers Stop voucher worth Rs. 10,000

Tata Cliq voucher worth Rs. 9,000

Tanishq voucher worth Rs. 9,000

Amazon voucher worth Rs. 8,000

Flipkart voucher worth Rs. 8,000

Reliance Digital voucher worth Rs. 8,000

18,000 membership rewards point /18 karat gold collection

Taj voucher worth Rs. 9,000

Shoppers Stop voucher worth Rs. 7,000

Tata Cliq voucher worth Rs. 7,000

Myntra voucher worth Rs. 7,000

Amazon voucher worth Rs. 6,000

Flipkart voucher worth Rs. 6,000

Reliance Digital voucher worth Rs. 6,000

Key Privileges & Benefits

Easy EMI Conversion - Convert your credit card bills into easy monthly installments using American Express EMI.
Dining Discounts - Enjoy up to 20 per cent discounts at select restaurants across India.

Fuel Benefits - 0 per cent convenience fee on fuel purchases at HPCL outlets.

Final Verdict

The American Express Membership Rewards Credit Card is a decent option if you prioritize earning reward points on everyday spending and prefer redeeming them as shopping vouchers. The monthly milestone benefits, welcome bonus, and renewal rewards make it attractive for regular users.

However, its feature of redeeming earned reward points exclusively against vouchers might be unattractive for people who don't shop often or prefer direct cashback and travel rewards. The lack of flexibility in redemption options could be a drawback for those looking for more versatile benefits including airport lounge access, or concierge services.

On the other hand, it can be a valuable option for frequent online shoppers who regularly purchase from brands like Amazon, Flipkart, Tata Cliq, and others. If you tend to make consistent online purchases, the reward structure can help you save on future expenses by redeeming points for vouchers from popular retailers.