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  • The American Express Membership Rewards Credit Card

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  • The American Express Membership Rewards credit card is a card which offers a unique rewards program for its cardholders in the form of reward points which can be redeemed for gifts and other benefits. The joining fee is zero and the annual fee for the card is Rs.1,500 excluding taxes. The interest charged on the card is 3.5% per month or 42% per annum.
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    Key Highlights Of The American Express Membership Rewards Credit Card
    • The card is best suited for individuals who seek attractive reward points on their cards.
    • Annual fee waiver on achieving milestone spends.

    Reward Points Benefits Of The American Express Membership Rewards Credit Card

    • You earn 1 Membership Rewards (MR) Point for every Rs.50 spent on the card.
    • Use the card 4 times for transactions of Rs.1,000 every month and earn 1,000 Bonus Membership Rewards Points.

    Features And Benefits Of American Express Membership Rewards Credit Card

    Joining bonus: Spend Rs.25,000 within first 90 days of card issuance and earn 2,000 bonus membership reward points.

    Annual fee waiver: Spend Rs.1.5 lakh in a membership year and get the annual fee of Rs.1,500 waived off. Enjoy 50% fee waiver if the total spends in the membership year is Rs.90,000.

    Reward program

    • Every Rs.50 spent on the card will bring you 1 membership rewards point. Fuel transactions, insurance payments, utility bill payments, and cash withdrawals are not eligible for reward points
    • Use your card 4 times on transactions of Rs.1,000 every month to earn 1,000 Bonus Membership Rewards Points
    • Every 24,000 reward points can be redeemed for 24 Karat Gold Collection that includes American Express domestic travel online voucher worth Rs.11,000 or Bose Soundlink Color II Bluetooth speaker or cash credit of Rs.10,000.
    • Every 18,000 reward points can be exchanged for 18 Karat Gold Collection that includes cash credit of Rs.7,500 or Amazon gift voucher worth Rs.8,000 and Tanishq gift voucher of Rs.7,500.

    Renewal bonus: Your first card renewal would give you 5,000 membership rewards points. Points would be credited within 90 days of card renewal.

    Easy EMI Option: The card allows you to convert your total spends or big-ticket purchases of Rs.5,000 and above into easy monthly instalments with the American Express EMI facility.

    Zero liability on lost card: If you lose your card, your liability is nil after reporting the loss.

    Contactless technology: The card is designed with an in-built contactless technology to enable contactless payments of up to Rs.2,000 at POS terminals. The technology enables quick and secure transactions.

    Dedicated customer service: American Express also offers 24/7 card-related assistance, dispute resolution, emergency card replacement, two supplementary cards for free, etc.

    Fuel benefits: You enjoy 0% fuel surcharge for fuel transactions valued less than Rs.25,000 at HPCL stations across the country. For transactions of Rs.25,000 or above, you enjoy a discounted convenience of just 0.3%.

    Fees And Charges Of American Express Membership Rewards Credit Card

    Type of Fees and Charges Amount

    Joining fee

    NIL

    Annual fee

    Rs.1,500 + Applicable taxes.

    Interest rate

    3.5% per month or 42% per annum

    Cash withdrawal fee

    3.5% of the withdrawn amount (Minimum - Rs.250)

    Add-on card fee

    NIL for 1st two cards, Rs.1,500 for each card thereon

    Fee for duplicate statement

    Rs.100 for each statement that is minimum of 3 months old

    Over limit fee

    Rs.500

    Miles or points redemption fee

    Rs.250 for each redemption

    Fee for transactions made in foreign currency

    3.5%

    Late payment charge

    30% of the minimum due amount (Minimum - Rs.500, Maximum - Rs.1,000)

    Eligibility To Apply For The American Express Membership Rewards Credit Card

    You are eligible for the American Express Membership Rewards Credit Card only if you meet the following requirements:

    • You are a resident of India.
    • For self-employed, minimum annual income should be Rs.6 lakh.
    • For salaried person, minimum annual income should be least Rs.4.5 lakh.
    • You are an existing credit cardholder of any bank.
    • Must be a resident of Delhi (NCR), Bangalore, Bhopal, Bhubaneshwar, Ernakulam, Kolkata, Vijayawada, Vizag, Goa, Guntur, Mumbai, Kanchipuram, Pune, Chennai, Jaipur, Hyderabad, Coimbatore, Indore, Ahmedabad, Chandigarh, Vadodara, or Surat.

    Documents Needed To Apply For The American Express Membership Rewards Credit Card

    • You would be asked to submit documents related to your income, KYC-PAN, ID and address proof.
    • You would also have to submit your photograph, salary slip/Form 16, etc.
    • For any other documents apart from the ones mentioned here, you would be informed by American Express.

    Faqs On The American Express Membership Rewards Credit Card

    1. What are the benefits of having an American Express Membership Rewards Credit Card?
    2. The American Express Membership Rewards Credit Card provides multiple reward points that you can redeem for attractive options. Refer to the 'features and benefits' section for more details.

    3. Does the American Express Membership Rewards Card offer emergency card replacement facility?
    4. Yes, the American Express Membership Rewards Card offers an emergency card replacement facility.

    5. I have lost my American Express Membership Rewards Card. What should I do?
    6. If you have lost your American Express Membership Rewards Card, you should report the loss immediately to American Express. Also, inform the police and get a copy of the FIR. Send the FIR to American Express along with a detailed report about the incident.

    7. How can I pay the bill of my American Express Membership Rewards Card?
    8. You can pay the bill of your American Express Membership Rewards Card in one of the following ways: NEFT, direct debit facility, electronic bill payment facility, and cheque or draft.

    9. Where can I get more details about The American Express Membership Rewards Card?
    10. You can contact the 24-hour helpline number of American Express by dialling 91124-2801800 / 1800 419 3646.

      

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