Note: This article maybe outdated. Kindly refer to the latest review of this card: Amex Membership Rewards Credit Card Review.
I’ve been using Amex Gold charge card for a while and always wish to see the EMI option. While I’m not a fan of EMI, it feels like something is missing without it. And for this reason Amex has introduced Membership Rewards Credit Card (MRCC) which has similar benefits like that of Gold charge card, except that it’s a credit card (not a charge card) and so you can carry forward your balances to the next month and also avail the Amex EMI options if and when required.
Amex Membership Rewards Credit Card is Worth it?
- Joining Fee: Rs.1000+Tax
- Welcome Bonus: 4000 Reward points
Note that 4,000 Bonus Membership Rewards® Points to be awarded for using the Card 3 times within the first 60 days of Cardmembership, upon payment of annual fee. If you look at the reward rate alone, this card gives you few points by default but the rewards accumulated on MRCC never expire and by making 4 txn’s worth 1k value or more in a month, you can get 1000 bonus rewards.
Also, when you look at the overall benefits you get by being a part of American Express, it’s an outstanding one. Here’s how I save:
- I get 3.75% cashback on fuel at HPCL Pumps with Amex 3% Fuel Cashback offer
- Saved Rs.10,000 on my recent overseas trip to Vietnam with Amex MMT Offer on International Hotels
- Saved Rs.7,000 on Domestic Hotels with Amex Ezeego1 Offer
- Saving Rs.5,000 almost every month on domestic hotels with Amex MMT Offer on Domestic Hotels
Above offers are available with all Amex cards including Amex MRCC card. Can you now imagine what kind of savings Amex cards can get you?
Meanwhile, its a contactless card, which enables you to make purchases just with a tap and no PIN required on purchases done less than Rs.2000. This makes life more easier.
Amex MRCC and its Competitors:
Any Amex card itself is a premium one, however MRCC is positioned as a beginner level card within Amex, which competes with
- Citibank Rewards Credit Card
- SBI Platinum Card
While Citibank rewards card has a very low reward rate, it does have decent partner offers but once in a while. On other hand, SBI Platinum Card has the same reward rate by default. But hey, i had SBI Signature Credit card for about an year and closed it eventually.
Even-though i spent a lot on SBI card and even earned Rs.18,000 cashback they neither had a retention team to look into my closure request, nor had any partner offers to keep me with them. Hence i had to say Goodbye to SBIcards.
That being said, Amex MRCC card gives you access to fantastic 24*7 customer service and is a far rewarding experience. Apart from that you also get,
- Zero lost Card liability (more secure than others)
- Emergency Card Replacement (anywhere in the world)
- 2 Complimentary Supplementary with no annual/renewal membership fee (you get 1000 bonus points for each these days)
Amex Promo Offer: If you hold Gold charge card, you can get MRCC card as a companion card and is free for lifetime as long as you hold the Gold charge card. For others, Amex is running limited period promo to avail the card free for Lifetime if you have 12L+ income per annum. You also get Rs.1000 Amazon voucher with it.
Offer Ends on: Sep 20th 2017
March 17th, 2017 (Extended)
Features of Amex Membership Rewards Credit Card:
- Card Expert Rating: 4/5 [yasr_overall_rating]
- Reward rate: 0.5% (Accelerated: Upto 2.5%)
- Annual Fee: 1,000+Tax for the first year / Rs 4,500+Tax second year onwards
- Airport lounge access: Discounted Access to 31 Domestic lounges in India
- Foreign Exchange Markup fee: 3.5% + Service Tax
- Special Features: Network Offers are lucrative and highly rewarding.
So overall, American Express Membership Rewards Credit Card with its low joining fee is one of the best ways to get access to Amex network offers and other Privileges, like, their customer service is super friendly. I still remember having a 20 Minute conversation with one of their executive on a whole different topic: traveling.
Renewal Fee Waiver (New): The Annual Membership Renewal fee of INR 4500 will be 100% waived off if total spends on American Express Credit Card in the immediately preceding membership year is INR 150,000; else 50% waived off if total spends on American Express Credit Card in the immediately preceding membership year is INR 90,000.
What’s your take on Amex Membership Rewards Credit card? Share your experience in comments below.