American Express Membership Rewards® Credit Card – Review, Details, Offers, Benefits, Fees, How To Apply, Eligibility, Status, Limit

1 July 2021 by wealth18.com

American Express® Membership Rewards Credit Card offer excellent benefits.

Amex Membership Rewards Credit Card Benefits

Joining Benefits :

- Welcome Gift of 4,000 Bonus Membership Rewards® Points – Available only in the 1^st year on payment of the annual fee and on spending INR 15,000 within 90 days of cardmembership.

Benefits

Milestone Benefits: Available – see reward section below.
Lounge Access (Domestic / International): N/A
Golf : N/A
Movie Tickets: N/A
Restaurant Offers: Up to a 15% discount at over 1,000 restaurants across major cities. See the list of participating restaurants.
Railway Surcharge waiver: N/A
Fuel: 0% Convenience fee on fuel purchase at HPCL for transaction less than Rs. 5,000 and 1% convenience fee on fuel purchase per transaction is applicable for all transactions on and above Rs. 5,000
International Spend Benefits: N/A
Other Offers
- Other Partner Offers on all Amex Credit cards. See latest offers

Rewards Collection

1 Membership Rewards Point for every Rs. 50 spent except for spend at Fuel, Utilities, Insurance and Cash Transactions
Earn 1,000 Bonus Membership Rewards Points for simply using your Card 4 times on transactions of Rs. 1,500 and above every month
Earn an additional 1,000 Membership Rewards points simply by spending INR 20,000 or more in a calendar month. This is an enrollment based benefit.
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 Redemption

Reward value is 1 reward point = approx Rs 0.25 – –So you get approx. 0.5% worth of reward value

Redeem your Points from the fabulous 18 and 24 Karat Gold Collection
24,000 Points / 24 Karat Gold Collection:
- Taj voucher worth Rs. 14,000
- Tanishq voucher worth Rs. 10,000
- Statement Credit worth Rs. 9,000
18,000 Points / 18 Karat Gold Collection
Taj Voucher worth Rs. 9,000

Amazon e-voucher worth Rs. 7,000

Statement Credit worth Rs. 6,000
On annual spend of Rs 9 lakh, you get rewards with Rs 9000 , so approx 1% worth

Alternatively, on a monthly spend of Rs 20000, you will get monthly points of 2000. SO in a year, you will accumulate 24000 points on spending of 2.4 lacs, (so effective benefit will be upto 3.75%)

Reward catalogue: https://www.americanexpress.com/en-in/rewards/membership-rewards/

Amex Membership Rewards Credit Card Fees

First year fee: Rs. 1000 plus applicable taxes.
Second year onwards: Rs. 4,500 plus applicable taxes. (waived off on annual spend of Rs.1,50,000 and above)

How to Apply – You can apply online at Amex website

Eligibility:

Annual – Salaried Income (4.5 lakhs) or Self Employed Income (INR 6 Lakhs)
Existing Credit Card member of any bank
Resident of India (as defined under the Income Tax Act of India)

Summary

Amex Membership Rewards Credit Card offers good points on monthly spending However, the main issue is that the minimum redemption point is 18000 points for which you get amazon voucher worth Rs 7000 (approx worth 0.77%).