American Express Membership Rewards (Amex MRCC) Credit Card Review

American Express Membership Rewards Credit Card, also commonly known as Amex MRCC is an entry level credit card from American Express, which is known to have one of the best customer support in India. This card gives pretty good rewards when used properly. Let us see the details of this credit card.

Fees

Joining Fee: Rs 1,000 + GST (FREE if applied via referral link)

Annual Fee: 2nd year onward Rs 4,500 + GST (1500 + GST if applied via referral link)

Fee waiver: You get 100% fee waiver if you spend more than Rs 1.5L in the previous year and 50% fee waiver if you spend more than Rs 90K in the previous year.

Eligibility

  • Age: 18 years and above

  • Annual IncomeGreater than Rs 6 Lakhs per year (both salaried and self employed)

  • Good Credit Score (CIBIL score above 750 should be good to qualify for this card)

  • Should be a resident of Delhi/NCR, Mumbai, Bangalore, Chennai, Pune, Hyderabad, Jaipur, Indore, Coimbatore, Chandigarh, Ahmedabad, Surat & Vadodra. However, once the card is issued, you can change the address to different cities too.

American Express is generally very strict about its eligibility criteria. If you don't have a credit history, your application would be rejected straightaway.

Benefits

Welcome Bonus

2000 reward points if you spend at least Rs 5K in the first 90 days from the card issue date (applicable only when you apply through referral link).

Reward points (1 reward point = Rs 0.25 if you redeem directly) 

1 reward point for every Rs 50 spent.

Monthly rewards

You get 1000 bonus membership reward points when you use your credit card for a minimum of 4 transactions of at least Rs 1000 in a month. This bonus is applicable even on loading money to e-wallets.

Once you have accrued a total of 18,000 or 24,000 membership reward points, you can redeem it for one of the rewards in AMEX 18 carat or 24 carat Gold collection given below.

AMEX 18 Carat Gold Collection

Statement Credit worth Rs 6,000

Amazon Voucher worth Rs 7,000

American Express Travel Voucher worth Rs 7,000

Taj e-Gift Voucher worth Rs 9,000

AMEX 24 Carat Gold Collection

Statement Credit worth Rs 9,000

Tanishq INSTA Gift Voucher worth Rs 10,000

Taj e-Gift Voucher worth Rs 14,000

Zero Lost Card Liability
If your Amex Credit card is stolen and misused, and you report it within 3 days of the misuse, then your liability will be NIL. Even if the fraud transaction is reported after 3 days of the transaction, your maximum liability will be Rs 1,000.

Emergency Card Replacement

Doesn't matter where you are in the world, if you lose your Amex Card, you will get a replacement usually within 2 working days, that too free of cost.

Restaurant Offers

You get up to 20% every time you dine at select restaurants.

Spend Based Offers and user specific offers

American Express comes up with user specific spend based offers regularly. In last 3 years, I've earned American Express Travel Vouchers worth Rs 20K (2*Rs 10K) with their spend based offers. Also, I've got many other user specific offers such as Bonus points/cashback on Amazon transactions, Marriott stays etc.

Drawbacks

I can think of only 2 issues with this card:

  • No Airport Lounge access.

  • American Express is still not accepted at all the merchants in India. So, you might have to carry one extra backup card in your wallet. However, they are increasing their acceptance rapidly.

Should you get it?

If you do just 4 transactions of Rs 1000 per month with this card, you'll get 12960 reward points in an year (12000 bonus reward points + 960 normal reward points), which is equivalent to Rs 7,560 if redeemed for Taj vouchers using the AMEX 24 carat gold collection which translates to 15.75% returns. Even if redeemed for statement credit, it is equal to Rs 4,860 (approx. 3 times the annual fee if applied via referral link) which translates to a return of 10.125% which is great for an entry level card.

So, if you can do 4 transactions worth at least Rs 1000 per month, you should definitely get this card. I got this card for lifetime free in a limited time offer 3 years back, and use it mostly for adding money in my Paytm wallet which I use in shops or to pay bills.

Let me know your thoughts or queries on the American Express Membership Rewards Credit Card in the comments below. Want me to review any other cards? Let me know in the comments below or using the Contact Me section of this website.

 

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