American Express Membership Rewards Credit Card Review

The American Express Membership Rewards Credit Card is a standout option in the realm of credit cards, catering to those who desire exclusive advantages and perks for their expenditures. This card presents a comprehensive bundle of attractive rewards and valuable attributes, aiming to enrich the cardholder’s lifestyle and financial stability.

One of the notable aspects of the American Express Membership Rewards Credit Card is its rewarding points system. For every Rs 50 spent, excluding fuel transactions, utility bill payments, insurance, and cash transactions, cardholders earn 1 membership reward point. Additionally, by using the card for four transactions of Rs 1,500 or more, users can receive a generous bonus of 1,000 membership reward points.

Apart from the rewards program, the American Express Membership Rewards Credit Card also provides cardholders with various enticing benefits. The card charges a joining fee of Rs 1,000 and a renewal fee of Rs 4,500. However, the renewal fee can be waived off for those who achieve an annual spending of Rs 1,50,000 or above. This feature makes it particularly appealing for frequent spenders who can easily offset the renewal fee.

Furthermore, the card offers a range of additional perks such as monthly milestone rewards, fuel surcharge waivers, entertainment benefits, and insurance coverage. These advantages not only provide a sense of financial security but also add value to everyday expenses, making the American Express Membership Rewards Credit Card an excellent choice for those seeking a comprehensive credit card experience.

In this review, we will delve deeper into the various features and benefits offered by the American Express Membership Rewards Credit Card. Whether you are looking to maximize your rewards, enjoy exclusive privileges, or gain added financial protection, this credit card has something for everyone. Join us as we explore the intricacies of this card and discover why it has become a preferred choice for discerning cardholders.

Features and Benefits

• Welcome Bonus: Upon successfully paying the joining fee of Rs 1,000 and spending Rs 15,000 within 90 days of card activation, cardholders are rewarded with an enticing welcome benefit of 4000 Bonus Membership Reward Points. This bonus is a great way to kickstart your rewards journey and maximize the value of your spending.
• Monthly Milestone Rewards: Cardholders can earn additional rewards through monthly milestone achievements. By completing four transactions of Rs 1,500 or more in a calendar month, you can earn 1,000 Bonus Membership Reward Points. Moreover, by spending Rs 20,000 in a calendar month and enrolling in the program, you can earn another 1,000 Membership Reward Points. These rewards encourage frequent card usage and provide added value for your everyday expenses.
• Prompt Reward Point Assignment: Membership Reward Points earned using the credit card are promptly assigned to the cardholder within 30 days after the completion of each calendar month. This ensures that you can enjoy the benefits of your spending and have the flexibility to redeem your points for a variety of exciting options.
• Spend-Based Renewal Fee Waiver: With the American Express Membership Rewards Credit Card, you can enjoy a renewal fee waiver based on your spending habits. If you spend Rs 1,50,000 or more in the previous year, the entire renewal fee of Rs 4,500 is waived. Additionally, if you spend between Rs 90,000 and Rs 1,49,999 in the previous year, you are eligible for a 50% waiver on the renewal fee. This feature rewards cardholders for their loyalty and helps reduce the cost of card ownership.
• Fuel Surcharge Waiver: Fuel transactions made with the American Express Membership Rewards Credit Card offer valuable savings. Cardholders enjoy a 1% fuel surcharge waiver at all HPCL fuel stations for transactions up to Rs 5,000. Similarly, a 1% fuel surcharge is applicable at BPCL and IOCL fuel stations for transactions with a minimum value of Rs 10. For fuel transactions at other fuel stations, a 2.5% fuel surcharge applies. These waivers provide convenience and help reduce the expenses associated with refueling.
• Renewal Reward Points: On paying the first-year renewal fee of Rs 4,500, cardholders are rewarded with 5,000 Membership Reward Points. These points are credited to the cardholder’s account within 90 days of the renewal, allowing you to quickly accumulate rewards and enhance your redemption opportunities.
• Dining Discounts: As a cardholder, you can enjoy special dining discounts of up to 20% off at select restaurants when using your American Express Membership Rewards Credit Card. This feature adds value to your dining experiences and allows you to indulge in culinary delights while saving money.
• Liability Protection Assurance: The American Express Membership Rewards Credit Card offers a range of liability protection assurances, including zero lost card assurance, 24×7 card assistance, emergency card replacement, and dispute resolution services. These features provide peace of mind, ensuring that you are protected against potential risks and inconveniences.

American Express Membership Rewards® Credit Card Rewards

• Reward Point Accumulation: With the American Express Membership Rewards Credit Card, you can earn Membership Reward Points for your everyday spending. For every Rs. 50 spent, you will be rewarded with 1 Membership Reward Point. This enables you to accumulate points quickly and enhance your redemption opportunities.
• Exclusion of Certain Transactions: While the card rewards you generously for most of your spending, it’s important to note that fuel transactions, utility bills, and insurance categories do not earn Membership Reward Points. These exclusions help you understand the specific categories that do not contribute towards earning rewards, allowing you to plan your spending and maximize your points accumulation in other areas.
• Flexible Redemption Options: Once you have accumulated a substantial number of Membership Reward Points, you can explore a wide range of redemption options. From travel bookings, merchandise, gift cards, and statement credits to experiences and entertainment, there are diverse ways to utilize your earned points based on your preferences and interests.
• Enhanced Value on Bonus Points: The American Express Membership Rewards Credit Card also offers opportunities to earn bonus points. For example, by using your card for transactions of Rs. 1,500 or more, you can receive a bonus of 1,000 Membership Reward Points. These bonus points provide an extra boost to your rewards and can accelerate your progress towards exciting redemption possibilities.
• Exclusive Partner Offers: As an American Express cardholder, you gain access to a wide range of exclusive partner offers. These can include discounts, special promotions, and unique experiences with various partner brands across sectors like travel, dining, shopping, and more. These offers add further value to your card membership and provide additional opportunities to save and enjoy exclusive privileges.

The American Express Membership Rewards Credit Card rewards program offers a straightforward and rewarding system for earning points on your everyday spending. By accumulating Membership Reward Points, cardholders can enjoy the flexibility to choose from a variety of redemption options, benefit from bonus point opportunities, and access exclusive partner offers. Start maximizing your rewards and unlocking the possibilities with the American Express Membership Rewards Credit Card.

Reward Points Redemption

• Versatile Redemption Options: The American Express Membership Rewards Credit Card offers a wide array of redemption options to suit your preferences and needs. Through the AmEx reward redemption portal, you can utilize your earned Membership Reward Points for various products and categories, including travel, shopping, and more.
• 18 Karat Gold Collection: If you have accumulated 18,000 Membership Reward Points, you can enjoy attractive redemption choices from the 18 Karat Gold Collection. Options available include:
  • E-Gift Voucher worth Rs 9,000 from TAJ, allowing you to indulge in luxury experiences and services.
  • E-Voucher worth Rs 7,000 from Amazon, enabling you to shop from a vast selection of products across different categories.
  • Statement cash of Rs 6,000, providing you with the flexibility to apply the cash value towards your outstanding credit card balance.
• 24 Karat Gold Collection: For those who have accumulated 24,000 Membership Reward Points, the 24 Karat Gold Collection offers compelling redemption possibilities. Choices include:
  • E-Gift Voucher worth Rs 14,000 from TAJ, allowing you to experience the epitome of luxury at TAJ hotels and resorts.
  • E-Voucher worth Rs 10,000 from Tanishq, giving you the opportunity to indulge in exquisite jewelry and timeless pieces.
  • Statement cash of Rs 9,000, providing you with the freedom to utilize the cash value as desired.
• Convenient Redemption Process: Redeeming your Membership Reward Points is a seamless process through the AmEx reward redemption portal. You can easily access the portal, explore the available options, and choose the redemption that aligns with your preferences and interests.

By accumulating and redeeming your Membership Reward Points, you can unlock a world of possibilities. Whether you desire luxurious experiences, shopping delights, or the flexibility of statement cash, the American Express Membership Rewards Credit Card offers you the freedom to choose and make the most of your rewards. Explore the redemption options today and enjoy the fruits of your spending!

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FAQs

How soon will I receive the welcome bonus of 4000 Bonus Membership Reward Points?

The welcome bonus of 4000 Bonus Membership Reward Points can be availed upon successful payment of the joining fee of Rs 1,000 and spending Rs 15,000 within 90 days of card activation. The information regarding the welcome benefits will be communicated via SMS or email to your registered phone number or email ID.

How long does it take for the Membership Reward Points to be assigned to my account?

The Membership Reward Points earned using your credit card will be assigned to your account within 30 days after the completion of each calendar month.

Can I earn rewards on fuel transactions, utility bill payments, and insurance with the American Express Membership Rewards Credit Card?

No, fuel transactions, utility bill payments, and insurance categories do not earn Membership Reward Points. Rewards are earned on other eligible spending categories.

What are the joining and renewal fees associated with the American Express Membership Rewards Credit Card?

The joining fee for the American Express Membership Rewards Credit Card is Rs 1,000. The renewal fee is Rs 4,500, which can be waived off on an annual spending of Rs 1,50,000 or above.

How can I qualify for a renewal fee waiver on the American Express Membership Rewards Credit Card?

To be eligible for a renewal fee waiver, you need to meet the spend-based criteria. Spending Rs 1,50,000 or more in the previous year will waive off the entire renewal fee. Additionally, a 50% waiver is applicable on annual spending between Rs 90,000 and Rs 1,49,999 in the previous year.

Conclusion

The American Express Membership Rewards® credit card is an excellent choice for individuals embarking on their credit card journey. With a low joining fee, it offers an accessible entry point for those seeking to obtain a credit card. While the card charges a higher renewal fee, there is also an option for renewal fee waiver by meeting a minimum annual spend of Rs 1,50,000 in the preceding year. This feature provides an opportunity for cardholders to offset the renewal fee.

Furthermore, the American Express Membership Rewards® credit card is highly rewarding, offering a competitive reward rate. Cardholders can enjoy earning rewards at a decent rate, allowing them to accumulate valuable points as they spend. Additionally, the card provides exciting benefits and privileges to enhance the overall cardholder experience. These perks add further value to the card, making it a compelling choice for individuals seeking a rewarding credit card.

Overall, the American Express Membership Rewards® credit card combines affordability, rewards, and a range of privileges to provide a well-rounded credit card experience. Whether you are new to credit cards or looking to maximize your rewards, this card offers a solid foundation for your financial journey.

Author: Vedanti KiranVedanti is a female finance writer, currently pursuing her studies at Hansraj College. She has a passion for writing and travelling, and her articles on the stock market, finance, investment, and cryptocurrency are well-researched and informative. With her unique perspective on the world of finance, Vedanti is a go-to source for those seeking insights into the world of finance.