American Express Membership Rewards Credit Card Review

The American Express Membership Rewards Credit Card is an entry-level credit card designed to give attractive perks to its users. The perks include a waiver of fees on fuel transactions, discounts on dining, easy EMI Conversions, and many other benefits in the form of reward points. But other essential benefits like access to airport and railway lounges, cashback, and discounts on daily utilities and essentials seem to be missing on this American Express Membership Rewards Credit Card. Though the joining fee seems to be nominal, the annual fee is quite substantial against the benefits this card offers. 

If you think the American Express Membership Rewards Credit Card is not a suitable match for you, then you can refer to the credit cards mentioned in the below:

1. Flipkart Axis Bank Credit Card
2. SBI SimplyCLICK Credit Card
3. HDFC Moneyback Plus Credit Card

Overview

Note: Annual Fee completely waived on spending ₹150,000 or more in a year; else, 50% is charged if the user has spent between ₹90,000 to ₹149,999 in a year.
 

Who should get the American Express Membership Rewards Credit Card?

The American Express Rewards Credit Card is a beginner's card, beneficial for those who frequently spend across various categories such as fuel, dining, shopping, etc. It allows users to earn reward points on other purchases as well. In exchange, it charges a hefty amount in the form of an annual fee. That is why this AMEX Rewards Credit Card is best suited for individuals who want such benefits and don't mind paying a high fee for this card.

Reward Points

With the American Express Rewards Credit Card, users earn 1 reward point for every ₹50 spent. All the reward points can be redeemed for a variety of exclusive vouchers from the top brands under the “18 and 24 Karat Gold Collection” program, as listed below. Among these, users can choose the voucher of their choice. 

Note: Reward points are not applicable for the transactions made on fuel, insurance, EMI conversions, and utilities. 

How to apply for an American Express Membership Rewards Credit Card?

To apply for American Express Membership Rewards Credit Card, follow the below steps:

Step 1: Visit select.finology.in and click on the 'Credit Card' tab.
Step 2: Click on Card Issuers, where you will see a list of banks that issue credit cards.
Step 3: Choose American Express from the list.
Step 4: Choose 'American Express Membership Rewards Credit Card' and click on the 'Apply Now' button.
Step 5: Provide the required consent, and then you will be redirected to a page where you need to fill in your mobile number and PAN card number.
Step 6: Fill in the credit card application form and attach the documents required.

American Express Membership Reward Credit Card Eligibility

• Age: Minimum 18 Years
• Occupation: Salaried or Self Employed
• Income: Salaried: ₹50,000 p.m., Self-Employed: ITR > ₹6.0 Lakhs p.a.

Documents Required

• Proof of Identity: PAN Card, Aadhaar card, Driver’s License, Passport, Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI or any other government-approved photo ID proof.
• Proof of Address:  Aadhaar card, Driver’s License, Passport, Utility Bill not more than 3 months old, Ration Card, Property Registration Document, Person of Indian Origin Card, Job card issued by NREGA, Bank Account Statement, or any other government-approved address proof.
• Proof of Income: Latest one or two salary slips (not more than 3 months old), latest Form 16, and the last 3 months’ bank statement.