American Express Membership Rewards Credit Card

A renewal reward of 5,000 Membership Rewards Points on first-year Card renewal and payment of the membership fee, credited within 90 days of renewal.

Joining fee

First-year membership fee ₹1,000 plus applicable taxes

Annual / renewal fee

Membership fee ₹1,000 plus applicable taxes in the first year, ₹4,500 plus applicable taxes from the second year onwards

Annual fee waiver

The renewal membership fee is waived in full when spends on an American Express Credit Card in the immediately preceding membership year reach ₹1,50,000. Where those spends fall between ₹90,000 and ₹1,49,999, half the renewal fee is waived.

Add-on card fee

Up to two supplementary cards at no extra cost; ₹1,500 for each supplementary card thereafter

Interest rate

3.50% per month (42% per annum) on revolved balances and cash advances, rising to 3.99% per month (47.88% per annum) where the account is in default.

Interest-free period

48 days

Cash advance fee

3.5% of the cash advance amount, subject to a minimum of ₹250. Cash withdrawal in India is currently suspended; the facility is available overseas only.

Overlimit fee

Overlimit transactions have been disabled since 1 October 2022. Debits of fees and charges raised by the issuer can still take an account over its assigned limit.

Payment dishonour

₹250 per returned instrument

Forex markup

3.50% currency conversion factor on foreign-currency transactions

Duplicate statement

₹100

Income (salaried)

₹4.5L/year

Income (self-employed)

₹6L/year

Age

18+ years

• How is the renewal fee waived on the Membership Rewards Credit Card?
• What is the membership fee?
• Which spends do not earn Membership Rewards Points?
• What income is needed for this card?