American Express
American Express Membership Rewards Credit Card
4.2 / 5amex
- Joining fee
- ₹1,000
- Annual fee
- ₹4,500
- Base reward
- 0.5%
- Min income
- ₹4,50,000/mo
- Forex markup
- 3.5%
- Interest p.a.
- 42%
Benefits
- ▸1 Membership Rewards point per Rs 50 spent (approx 0.5% value-back at Rs 0.25/point; excludes fuel, insurance, utilities and cash transactions)
- ▸Additional 1,000 bonus points on monthly spend of Rs 20,000+ (enrollment required)
- ▸Up to 5X bonus points via Reward Multiplier on select online partners
- ▸Membership Rewards points never expire and transfer to multiple airline/hotel partners
- ▸24x7 card assistance
The good
- + Stackable monthly bonuses (1,000 points x2) materially lift effective returns for steady spenders
- + Generous fee-waiver thresholds and a first-renewal 5,000-point bonus
- + Membership Rewards points never expire and transfer to airline/hotel partners
The catch
- − Low base earn of only ~0.5% value-back outside bonus mechanics
- − Fuel, utilities and insurance excluded from earning
- − Limited merchant acceptance in India versus Visa/Mastercard
- − 3.5% forex markup on international spends