American Express was testing the waters for about ~2 yrs with their Everyday Spend Gold Credit Card as a pilot project but that never came as a full fledged offering.
However, later they’ve polished the product a bit and launched it just like any other American Express credit card with a new name called SmartEarn Credit Card. Here’s everything you need to know:
Table of Contents
|Welcome Bonus||Rs.500 Cashback on spending Rs.10k within 90 days|
|Renewal fee waiver||On spends of Rs.40K in the previous year|
|Reward Rate||0.5% to 10% (depends on redemption)|
Basically its an entry-level card designed for the mass market segment. Fee & waiver requirement are quite attractive indeed.
- 1 MR Point for every Rs.50 spend
- Reward Rate: 0.5% – 1% (assuming 25ps/MR to 50ps/MR)
|Merchant||Rewards||Max. Cap / month|
|Amazon & Flipkart||10X||500 points (Spend: Rs.2500)|
|Uber||10X||500 points (Spend: Rs.2500)|
|Paytm Wallet, Swiggy, etc||5X||250 points (Spend: Rs.2500)|
- 10X Rewards fetches a Reward Rate of 5% to 10%
- 5X Rewards fetches a Reward Rate of 2.5% to 5%
If you’re new to American Express Membership Rewards, check out how to Maximize Amex MR Points. Here’s a quick look into the current partners for 5X/10X promo. This may change anytime in the future.
As you may know, the 5X/10X rewards is an inspiration from the most popular HDFC 10X Program, but I feel this is a not so great implementation as HDFC serves it to premium users while this card targets the entry-level customers.
Entry-level customers rather love direct cashback, or at-least that’s how the industry is handling it, with Flipkart, Amazon, Ola & Paytm cards.
|Spend Milestone||Get Voucher|
|Rs.1,20,000||Rs.500 Amazon Voucher|
|Rs.1,80,000||Rs.500 Amazon Voucher|
|Rs.2,40,000||Rs.500 Amazon Voucher|
So you can earn a total of Rs.1500 worth vouchers by spending Rs.2.4 lakhs. Note that only spends done on/after 1st Aug 2021 to upto your card anniversary year is considered for this benefit.
One way to make good use of Smartearn credit card is to take it along with MRCC. If you’re already holding MRCC you may get it as a companion card (targeted for some) while others may just get it as a paid variant.
So if you hold MRCC & smartearn, your points would be clubbed and hence you could redeem points for better value using 18K/24K gold collection.
Btw, SmartEarn card looks lot better in hand compared to the almost-ugly MRCC.
- Cardexpert Rating: 3.9/5 [yasr_overall_rating]
For those who wish to load Paytm Wallet or Amazon Pay, this card is a very good option. Moreover, as the eligibility is in par with Amex MRCC, it makes lot of sense to go with MRCC over SmartEarn Credit Card if you want to pick one.
So for those who would love to hold an Amex card in the wallet, has low spends and yet wish to enjoy the low EMI & Amex Offers, this is indeed a good card to start your relationship with American Express.
What’s your take on Amex SmartEarn Credit Card? Do let us know in the comments if any of you plan to get one.