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American Express Membership Rewards Credit Card (MRCC) Review 2021

American Express Membership Rewards Credit Card review

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AMEX MRCC – Amex is a well-known brand when it comes to a credit card. This card defines the status, that’s the reason everybody wants this card in their pocket. But this isn’t easy to get this card. So in this American Express Membership Rewards Credit Card (MRCC) Review 2021 article, we will guide you on how can you have this card, what are the pros and cons of this card, eligibility criteria, and many more.

Amex Membership Rewards Credit Card Review 2021.

Introduction

American Express is known for its premium service and support. Being one of the leading credit card company in the world American Express is also known for its best offers, benefits and rewards points. American Express Membership Rewards credit card is a basic entry-level card from AMEX.

Did you know? American Express is the 8th highest card issuer company in India with more than 1.65 million-plus active cards.

Although MRCC is an entry-level card, it provides many premium level card benefits. Basically, the Amex MRCC card is a credit card form of Amex Gold charge card. As the Amex Gold charge card does not have any spending limits, Amex MRCC comes with a spending limit.

The membership rewards card is an absolute delight for shoppers. It is one of the top-selling credit cards from American Express. This card also offers an annual fee waiver on achieving milestone spends. This card is best for those who want to earn attractive rewards points on their cards. 

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Amex MRCC Benefits

Key benefits

Annual fee waiverAdditional Rewards PointsZero Lost Card Liability
The Annual Membership Renewal fee of ₹ 1500 will be 100% waived off if you spend 1.5 lakh in a membership year. You will get 50% Waived off if you spend between ₹ 90,000 to ₹ 1,49,999.You can earn 5000 membership rewards point on payment of annual fee for first year.
(Point will be credited within 90 days of card renewal.)
If you lost your card. Then you are not responsible for any transaction from that card after reporting the loss.

Other Benefits

Amex Easy EMI – Purchase of more than ₹ 5000 can be converted into easy EMI.

Contactless payment-This card is enabled with a contactless payment system. You can use this card to pay at the point-of-sale terminal that is equipped with the contactless payment technology. The transaction limit is up to ₹ 2000 per transaction.

Amex pay- is a mobile payment solution that allows you to make contactless or QR code-based payments at participating merchants using the Amex App. You can make contactless purchases with your eligible Android device wherever American Express® contactless payments are accepted.

24/7 customer service assistance-Best in class card assistance service is available for you, whenever you need it. Whether you lost your card, want emergency card replacement, or want to know the best offers on your card just call and get solutions and answers for your query easily. Support executives are very calm and helpful.

Easy card replacement-If you lost your card, your card gets damaged or cracked. You don’t have to worry too much about that. Just call to support and you will get your card replacement. Card replacement is this much easy with Amex.

Fuel Convenience Fee Waiver- You enjoy 0% fuel surcharge fees for fuel transactions valued less than ₹ 25000 at HPCL stations across the country. For transactions valued more than ₹ 25000 you have to pay discounted convenience of just 0.3%.

Amex MRCC Offers

Welcome giftSupplementary card offerDinning offer
you will get 4000 membership rewards points as a welcome gift.
(Welcome Gift is available only in the 1st year on payment of the annual fee and on spending ₹ 2,000 within 60 days of card membership.)
You can get 2 complimentary add-on card for your friends or family for free. Plus you can also get additional points and vouchers on every supp card approved.You can enjoy up to 20% Dinning discounts on selected restaurants.

Amex MRCC Rewards Programme

Regular rewards PointsMonthly Rewards Points
You can earn 1 reward point on every ₹50 spends. (Not applicable on Fuel, Insurance, Utilities, and cash transactions.)Spend ₹ 1000, 4 times in a month to get 1000 bonus points every month.
(Note- To make 4 transactions every month you can split your spend into parts for payment.)

Reward Points Renewal

You can Redeem Points from the fabulous 18 and 24 Karat Gold Collection and as a Statement credit.

18 Karat Gold Collection24 Karat Gold Collection
Points required- 18000
Taj Voucher worth ₹ 9,000
American Express Domestic Travel e-voucher worth ₹ 7,000
Amazon e-voucher worth ₹ 7,000
Statement Credit worth ₹ 6,000
Points required- 24000
Taj voucher worth Rs. 14,000
Tanishq voucher worth Rs. 10,000
Statement Credit worth Rs. 9,000

Statement Credit Limited Time Offer

12,000 MR: ₹ 5,310 Statement Credit (only once per annum)
18,000 MR: ₹ 7,500 Statement Credit.
24,000 MR: ₹ 10,000 Statement Credit.

(Note-This is a limited time offer. It can expire any time.)

Annual Fees And Charges

Joining fee₹ 1000 + GST
Annual fee₹ 4500 + GST
Interest rate (In case you don’t pay the full due balance.)3.5% per month or 42% per annum.
Cash withdrawal fee3.5% of the withdrawn amount (Minimum – Rs.250)
Add-on card feeFirst 2 cards are free. For the third card, you’ll have to pay ₹ 1500.
Air Miles Conversion fee₹ 250 for each redemption request.
Fee for duplicate statement₹100 for each statement that is a minimum of 3 months old.
Over limit fee₹ 500
Foreign Currency Transaction3.5% foreign exchange conversion mark-up.
Late payment charge (In case of payment after due date)30% of the minimum due amount (Minimum – Rs.500, Maximum – Rs.1,000)
Surcharge on Purchase of Railway Ticket1.8% per transaction subject to a minimum of `10 if booked
through the internet (IRCTC)
Surcharge/Convenience Fee on Fuel Purchase1% of transaction amount per transaction subject to a minimum of `10 at fuel stations owned and/or operated by the Public Sector Unit OMCs, Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL).

Pros and Cons of Amex MRCC.

ProsCons
Best Entry-level card for shopping.
Best rewards Options and bonus rewards.
Fuel surcharge waiver.
Do not have any benefits for travel.
Available in limited cities.
To get this Entry-level card you must have 40k+ salary.

American Express Membership Rewards Credit Card Eligibility Criteria

To get approved for this card you must say yes to these following criteria-

  • I am an Indian citizen. I have the Document of proof for my citizenship.
  • I am over 18 and I have an income source.
  • Salaried/ self-employed ( Professional )/ Business
  • I am earning equal to or more than 4.5 lakh in the form of salary.
  • I am a professional/having a business, my annual income is more than 6 lakh and My company has been trading for more than 12 months.
  • I have a saving or current account in an Indian bank or multinational bank in India.
  • I have a good credit history and no payment default. I also have an additional card from other banks.
  • I am residing in one of the city mentions below.
    city-Delhi/NCR, Mumbai, Bangalore, Chennai, Pune, Hyderabad, Jaipur, Indore, Coimbatore, Chandigarh, Ahmedabad, Surat & Vadodra.

Amex MRCC Document Required

  • Pan card, Aadhar card or Id Proof.
  • One address Proof.
  • Passport size photograph.
  • Salary slip, Form 16 or ITR. (In case of self-employed)
    For any other document apart from the one’s mention here, American Express will inform you.

Why you should apply for this card?

This card is best for you if you do shopping often or spend more than ₹ 4000 per month. If your expenses are more than ₹ 4000 than by paying through this card (₹ 1000*4) you will get 1000 rewards points that are equal to ₹ 410.

If you spend more than 48k than you will get 12000 rewards points that are equal to ₹ 5000 approx. That means 10% returns on all your spend. 

Apart for that if you will use this card smartly as per other offers and if you spend more than ₹ 90000 in a year than you will get  50% off on next year annual fees. To get 100% wave off you will have to spend ₹ 1.5 lakh in a year. 

By spending ₹ 1.5 lakh in a year, you will get 3000 rewards points that are equal to ₹ 1200. Plus ₹ 1500 renewal charge waived off. 

If you calculate all than you will end up getting more than 5% return on spend. That is a very good return for an entry-level card. Other bank’s entry-level cards provide only 1 to 2% returns on spending.

You can redeem all your reward Points as Gold collection offer or convert them into air-miles.

Final note

You must go for this card if you want to get up to 5% return on all your spending. This card is not good for you if you are looking for a card for travel benefits.

How to apply?

To apply for American Express Membership reward credit card. Simply click on apply now button below.

Apply Here

American Express Membership reward credit card FAQ.

What gift cards can I get with American Express rewards?

You can get 4000 Rewards Points as a welcome gift. To avail this offer you have to make payment of the annual fee and have to spend ₹ 2,000 within 60 days of card membership. (This offer is only available for 1st year.)

How do I earn American Express reward points?

You can earn 1 reward point on every ₹ 50 spends. Apart from that, you can also earn 1000 bonus points by making 4 transactions of ₹ 1,000 each. Monthly bonus point is USP of this card.

What is American Express Membership Rewards credit card?

As the name says, American Express Membership Rewards Credit Card is A Reward Card that rewards you on every spends in form of rewards point. American Express Membership Rewards Credit Card comes with many other benefits. Such as fuel surcharge waiver, and emergency cash facility.

How do American Express Membership Rewards work?

For every Spends, You earn Rewards points. You can redeem these rewards Points through Amex Gold Collection Programme or as statement credit.

Is Amex Membership Rewards Worth It?

Yes, If you use your card mostly for shopping and want to save extra money on your expenses. This card gives you up to 5% return on expenses. This card is not good for you if you are looking for a card that comes with travel benefits.

Does Amex waive the annual fee?

Your annual fee will be waived off if you spend ₹ 1.5 lakh within a membership year. You can get 50% annual fee waived off if you spend between ₹ 90,000 to ₹ 1,49,999 within a membership year.

Can you redeem Amex points for cash?

You can redeem your Amex Rewards Points in the form of statement credit. You can use your statement credit to pay for your next purchase and to pay your credit card bills.

Do American Express points expire?

Your point won’t expire as soon as your card does not get expired.

Is it worth using Amex points on Amazon?

Well, It is up to you. How you want to use your points. If you shop on Amazon, then you can use your points as Amazon e-voucher. In the end, choices are all yours.

Key Terms FAQ.
What is Statement Credit?

Statement credit is a form of rewards that credit card companies provide you. Your credit card company will credit this amount into your account, which you can use for the next purchase or pay your next bill. 

Statment credit highlights as negative green balance in your card statement. 

What is an entry-level card?

Entry-level card is designed for daily use. You can use this card on groceries shopping, online shopping, and to pay other expenses. These cards are good for those who use their card mostly for shopping and want to earn some rewards or return on spends.  

What is contactless payment?

Contactless Payment provides a secure method for a consumer to purchase products using Credit, Debit, or Smart card. By using contactless payment consumer doesn’t have to share their card with merchant.

To make a contactless payment, You have to tap your card near a point-of-sale terminal that is equipped with contactless payment technology. Since contactless payments do not require a signature or a personal identification number (PIN), transaction sizes on cards are limited. The allowable amount for a contactless transaction varies by country and by the bank.

What is Fuel surcharge?

Credit cards company charge 2-3% on every retail transaction. Such as on groceries, clothes, electronics etc. Hense profit margin is in excess Of 10-30% and product price is controlled by the merchant. So merchant adds the cost of transaction charge in product MRP.

Since fuel charges are fixed and the merchant does not have any control over pricing, they charge additional fuel surcharge to cover the transaction cost.

Some companies lift up the fuel surcharge with a minimum transaction amount. For example, you won’t be charged any amount as fuel surcharge if you transaction for minimum ₹ 500. Card companies also tie-up with fuel companies to provide you with the fuel surcharge waiver.

When interest rate charge on credit card?

Credit card companies charge interest on the due balance. When you are unable to pay off your full balance by the due date every month, your card service provider will charge you an interest rate on your due balance and on post-purchase. Interest is charged on a daily basis.

Ready to apply for this card. Check your eligibility by clicking the link below.