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American Express Membership Rewards Credit Card

by Kshitiz V Sharma on

The Bottom Line

American Express Membership Rewards Credit Card
High Fee, Low Rewards

1 MR points / ₹50 spend (0.60%) on all other spends except fuel & utilities. High Annual Fee.

Monthly Spend ₹5K ₹10K ₹20K ₹50K ₹100K
Net Reward Yield (-7.0%)^ (-3.2%)^ 1.7% 1.0% 0.8%
Est. Monthly Reward (₹) (350) (320) 345 520 825
All-India Rewards Rank* 339 346 20 117 156
Within Bank Rank* 2 2 2 3 3
* Based on est. net reward yield for nearly 400 credit cards in India, for each monthly spending level. Read about how we calculate the net reward yield here.

^The negative figure means at this level of monthly spends, the rewards earned in a year will be worth less than the annual fee.

The American Express Membership Rewards Credit Card offers 0.6% effective rewards on all spends except fuel and utilities.

This card can earn you a net reward yield of 0.8–1.7% on monthly spends above ₹20,000.

If you spend less than ₹20,000 a month on your card, consider American Express SmartEarn Credit Card.

This card can earn you a net reward yield of 1.3-1.9% on monthly spends up to ₹20,000.

If you spend more than ₹20,000 a month on your card, consider the American Express Platinum Travel Credit Card. This card can earn you a net reward yield of 0.80-1.70% on all your spending.

The Platinum Travel offers a low 0.60% reward on all you spend but earns milestone rewards of ₹4,500 and ₹7,500 when you spend ₹1.9 lacs and ₹4.0 lacs within a year.

The Platinum Travel has a non-waivable fee of ₹5,000.

Our list of the best credit cards in India, at every spending level and from every bank, is here. You can find a detailed discussion of our methodology here.


The Rewards

Card American Express Membership Rewards Credit Card
Card Type Reward
Reward Features 1 MR points / ₹50 spend (0.60%) on all other spends except fuel & Utilities
Milestone Rewards 1,000 MR points on spending ₹20,000 / mth.
Other Rewards Nil
Rewards Redemption Fee ₹250
Reward Caps Unlimited
Preferred Redemption Method Redeem points on American Express Portal for e-Vouchers@ ₹0.30/ MR points.

You can achieve a conversion rate as high as ₹0.50-0.58 on collecting 18,000 (₹9 lacs) or 24,000 (₹12 lacs) reward points. This will be based on redemption via their 18 & 24 Karat Gold Collection Vouchers.


Fees & Charges

Card American Express Membership Rewards Credit Card
Joining Fee ₹1,000 + Taxes
Annual Fee ₹4,500 + Taxes
Min. Annual Credit Card Spend
for Fee Waiver
₹1.5 Lacs
Income Criteria Salaried ₹6 Lacs p.a.
Self-employed ITR>₹6 Lacs
Supplementary Card Fee ₹1500 + Taxes
Interest Rate 42.00%
Foreign Currency Markup 3.50%
Cash Advance Charge 2.50% with a minimum of ₹250
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