American Express Membership Rewards – Lounge Access

Who does not want a credit card that rewards you for spending money with the help of that credit card? The American Express Membership Rewards Card is the perfect card for people and individuals who tend to shop a lot using credit cards, as this credit card offers its cardholders a large number of rewards and benefits. 

Let us begin the article and see why this American Express credit card is perfect for you and how this credit card provides rewards and benefits to all its cardholders.

American Express Membership Rewards – Fees and Charges

• Spend-Based Waiver: If you spend ₹1,50,000, you don’t have to pay the full annual fee. If you spend between ₹90,000 and ₹1,49,999, you get 50% off the renewal fee.
• Rewards Redemption Fee: It costs Rs 250 every time you want to use your rewards.
• Foreign Currency Markup: There’s a 3.5% extra fee when you buy stuff in other countries.
• Interest Rates: If you don’t pay on time, it’s 3.5% every month, which adds up to 42% a year.
• Fuel Surcharge: At HPCL fuel stations, if you spend less than ₹5,000, you don’t have to pay a fuel convenience fee.
• Cash Advance Charges: If you take out cash, it costs 3.5% of what you take out, but you have to pay at least ₹250.

American Express Membership Rewards Card Details- Reward Points

• Welcome Bonus: You get 4,000 Bonus Membership Reward Points when you sign up.
• Earning Points: For every Rs. 50 you spend, you earn 1 Membership Reward Point.
• Rewards Multiplier: Using the Rewards Multiplier portal allows a person to earn double Membership Rewards on all their spending.
• Monthly Spending Bonus: Spend Rs 20,000 in a month, and you get 1,000 extra membership reward points.
• Renewal Fee Bonus: If someone pays the renewal fee of Rs. 4,500 for the first year, they can earn 5,000 Membership Rewards Points.
• Fee Waiver: You can get a waiver on the renewal fee based on your spending.
• Fuel Surcharge Discount: At all HPCL fuel stations, you get a 1% discount on the fuel surcharge.
• Dining Discounts: Enjoy special dining discounts of up to 20% off at some places.

Rewards Offers of American Express Membership Rewards Card

• Movie & Dining: You can get special dining discounts of up to 20% off when you use your American Express Reward credit card at some restaurants.
• Rewards Rate: You earn 1 Membership Reward Point for every Rs 50 you spend, but this does not count for fuel, utility bills, insurance, or cash transactions.
• Reward Redemption: You can use your Membership Reward Points to get cool stuff from the American Express 18 and 24-karat Gold Collection.

Pros and Cons of the American Express Membership Rewards Card

• Pros
  • Membership Reward Points do not expire, so they can be kept for as long as needed.
  • You don’t earn reward points when you spend on fuel and utilities.
• Cons
  • This card is only for people who live in certain cities, like Delhi/NCR, Mumbai, Bangalore, Chennai, Pune, Hyderabad, Jaipur, Indore, Coimbatore, Chandigarh, Ahmedabad, Surat, Vadodara, Lucknow, Ludhiana, Nagpur, Nasik, Trivandrum, and Mysuru.

Benefits of American Express Membership Rewards Card

• Welcome Benefits: When you get this card, you start with 4,000 Bonus Membership Reward Points. To get this bonus, you need to pay the joining fee of ₹1,000 and spend ₹15,000 within 90 days after activating your card. You’ll get a message about this on your phone or email.
• Spend-Based Milestone Rewards: You can earn 1,000 Bonus Membership Reward Points when you make four transactions of ₹1,500 or more in one month. If you spend ₹20,000 in a month, you also get 1,000 Membership Reward Points, but you need to sign up to get this. Just remember, these points can’t be used for cash on your statement.
• Spend-Based Renewal Fee Waiver: If you spend ₹1,50,000 in the past year, you won’t have to pay the renewal fee of ₹4,500. If you spend between ₹90,000 and ₹1,49,999, you get a 50% discount on the renewal fee.
• Membership Reward Points: For every ₹50 you spend, you earn 1 Membership Reward Point. But you won’t earn points for spending on fuel, utility bills, or insurance.

Karat Gold Collection: Reward Points Redemption

You can use your Membership Reward Points at the AmEx reward redemption portal for all kinds of cool stuff like travel and shopping. Here’s how you can use your points from the AmEx 18 & 24 Karat Gold Collection:

• 18 Karat Gold Collection (18,000 points):

With 18,000 points, a person can receive these vouchers:

• Taj Voucher worth ₹9,000
• Shoppers Stop Voucher worth ₹7,000
• Tata Cliq Voucher worth ₹7,000
• Myntra Voucher worth ₹7,000
• Amazon Voucher worth ₹6,000
• Flipkart Voucher worth ₹6,000
• Reliance Digital Voucher worth ₹6,000
• 24 Karat Gold Collection (24,000 points):

With 24,000 points, you can redeem these vouchers:

• Taj Voucher worth ₹14,000
• Shoppers Stop Voucher worth ₹10,000
• Tata Cliq Voucher worth ₹9,000
• Tanishq Voucher worth ₹9,000
• Amazon Voucher worth ₹8,000
• Flipkart Voucher worth ₹8,000
• Reliance Digital Voucher worth ₹8,000

Extra Benefits of the American Express Membership Rewards Card

• Renewal Fee Bonus: When you pay the first-year renewal fee of ₹4,500, you get 5,000 Membership Reward Points. These points will appear in the account within 90 days after the fee is paid.
• Dining Discounts: Use your American Express Reward credit card at some restaurants, and you can enjoy special dining discounts of up to 20%.
• Liability Protection: You get help if your card is lost, with zero lost card assurance. There’s also 24×7 card assistance, emergency card replacement, and help with resolving disputes.

American Express Membership Rewards Card | Eligibility Requirements

To successfully apply for the American Express Membership Rewards Credit Card, you need to meet these conditions:

• Age Requirement: A person must be 18 years old or older.
• Annual Income: Your annual income should be ₹6 lakh or more, whether you’re salaried or self-employed.
• Self-Employed Requirement: If you’re self-employed, your company needs to have been trading for at least 12 months.
• Residency: A person must have a permanent residence in India.
• Credit Score: You also need to have a good credit score.

Application Process for American Express Membership Rewards Card 

1. Visit the Website: First, you need to visit the American Express Credit Card official page.
2. Compare Cards: Look at all the cards they offer and choose the one that fits what you need the best.
3. Click ‘Apply Now’: Hit the ‘Apply Now’ button to start your application.
4. Fill out the application form: A new window will pop up with the application form. A person will need to provide personal information such as their name, date of birth, income, PAN, and address. After filling that out, click ‘Save’ to move to the next page.
5. Provide Financial Info: On the next page, you’ll give more financial info, like your bank details. Complete the form, save it, and review it before applying.
6. Submit Your Application: After you submit, you’ll get confirmation that they received your application.
7. Document Request: They might ask you for some documents to confirm your identity and legal status.

If your application is approved, you’ll hear back within 15 days. If it’s not, they will let you know their decision within 90 days.

Conclusion

The American Express Membership Rewards Card is a great option for people who like to shop and want to earn rewards while spending. With a welcoming bonus of 4,000 Membership Reward Points and many ways to earn more points through spending, it’s easy to get exciting rewards like vouchers for popular stores. There are also cool benefits like dining discounts and help if your card gets lost. However, it’s important to know that this card is only available in certain cities, and there are some fees involved. Overall, if you meet the requirements, this card could be a fun way to get rewarded for your purchases.

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