American Express SmartEarn Credit Card Review 2021.

American Express SmartEarn Credit Card Review 2021.

With this card review, American Express India is looking to target savvy shoppers who aim to drive maximum value in their financial transactions. American Express SmartEarn Credit Card is an entry-level credit card from Amex India. You can get maximum benefits of this card if you spend on 10X partner (Flipkart and uber) of this card.

Amex SmartEarn Credit Card is specially designed with a bundle of offers that cater to millennial needs. In this card, you can earn up to 10X rewards points. 10X rewards points are introduced by the Hdfc for its premium user but Amex provides this offer in their entry-level card. Although there is a capping of earning rewards points. This card comes with a minimum joining and annual fees of ₹ 495 + GST. that can be waived off if you spend ₹ 40,000 in a year.

To know more about the feature and benefits of this card and to find out if this card is beneficial for you please read the complete article. 

Feature and benefits of Amex SmartEarn Credit Card.

Welcome gift

You will get ₹ 500 cashback as Welcome Gift in the form of a statement credit if you spend ₹10,000 in the first 90 days of Card Membership. ₹ 10k within 90 days has not to be a single transaction.

Annual fee waiver

Your annual fees will be waived off if you spend ₹40,000 and above in the previous year of Card Membership.

Fuel Convenience Fee Waiver

You will not be charged any Convenience fee on fuel purchase at HPCL for transactions less than ₹ 25,000. usually, the convenience fee is 2.5% of the transaction amount.

Supplementary card offer

Get one supplementary card for your friend or family member absolutely free.

Zero Lost Card Liability 

Your liability will be zero in case you lost your card and report within 3 days. If you report after 3 days then you will have to pay ₹ 1000 maximum as a liability.

Emergency Card Replacement

If your card gets lost then you will get your new card within 2 working days after reporting.

Contactless Payment

Pay for transaction amount less than ₹ 2000 without swiping your card using a contactless payment service. Just tap and pay.

Reward Programme of American Express SmartEarn Credit Card.

Regular reward earning rate- You can earn 1 Membership Rewards Point for every Rs. 50 spent except for spends on Fuel, Insurance, Utilities, Cash Transactions and EMI conversion at Point of Sale.

Accelerated earn rate

10X Membership Rewards- You can earn 10X rewards points if you Transact on Flipkart & Uber for every ₹ 50 spent. You will earn 9 membership rewards points for every 50 spent.

Maximum rewards point-earning cap- 500 points per month per Card Account for both Flipkart and Uber separately. You can earn up to 1000 rewards points on spend of ₹ 5000 in 10X Rewards category.

5X Membership Rewards- You can earn 10X rewards points if you Transact on Amazon, Myntra/Jabong, Grofers, Swiggy, BigBazaar, More, PVR, Reliance Fresh, Dmart, and BookMyShow.

Maximum rewards point-earning cap- Earning of Membership Rewards points will be capped at 250 points per month per Card Account for all the merchants put together.

Note: You won’t be able to earn any membership rewards point on any EMI option selected online or at a retail store This is effective from February 1, 2020. You would continue to earn Membership Rewards points on all EMI transactions through American Express SafeKey and on all EMI conversions done post-purchase.

If you want to earn membership rewards points on shopping online or at a retails store then use this tip.

Tip 1- Pay in full if the amount is more than ₹ 5000 at online merchant’s site or at a retail store and convert spend into easy EMI using Amex EMI.

Tip 2- Reward and cashback card is designed to rewards you with your spending. To get the maximum benefits of Amex SmartEarn Credit Card, spend more earn more.

Rewards Redemption Programme of American Express SmartEarn Credit Card.

You can redeem your points against merchandise, entertainment rewards, e-vouchers, and gift cards. You can choose from a wide range of exciting Rewards options from Amex rewards catalog available at Amex Membership rewards site.

Fees and charges

Types of ChargesAmount
Annual Fees₹ 495+ Gst.
Joining Fees₹ 495+ Gst.
Interest rate3.5%. In case of default 3.99%
Add-on card fee₹ 250 on the second add-on card.
Air Miles redemption feeNil
Cash withdrawal limit20% of the credit limit, maximum up to ₹ 10,000 in every 2 weeks.
Cash advance fee3.5% of transaction amount minimum ₹ 250.
Convenience fee₹ 50 Per transaction.
Foreign currency transactions3.5% of transaction amount.

Eligibility Criteria

  • You are over 18.
  • Your personal Income is more than ₹ 4.5 lakh.
  • You have a saving or current bank account in India.
  • You have a permanent residential address in India.
  • If you are self-employed then your company must be trading for more than 12 months.

Why Should You Go For This Card?

If you looking for a credit card that will reward daily expenses along with shopping benefits then this card is the best for this need. You should apply for this card if you are looking for your first credit card or mostly use your card to pay daily expenses like groceries bill or use Uber cab.

You can get a good amount of return on all your spending with this card. The more you will spend the more you will earn. The approval rate of this card is very high as compared to other Amex Credit card.

Drawback- Capping on accelerated rewards is something that may disappoint you if your spending is more than ₹ 2500 in accelerated reward category.

Do you have this card? If yes then share your experience of this card in the comment section below. If you are looking for this card and have any question, post your question in the comment section and we will be happy to answer your query.

FAQs

Can Membership rewards points be used to pay uber bills?

No, you can use membership rewards points to pay uber bills. you can only redeem your point by choosing from options available at Amex membership rewards site.

Can I redeem the rewards points for the air ticket?

Yes, you can convert your rewards points in air miles that you can use to book air tickets.

What are the drawbacks of American Express SmartEarn Credit Card?

This is an entry-level credit card from Amex, so we should not have any big expectation from this card. As per our point of view, capping on accelerated rewards category we can consider as a drawback.

What is the approval rate of Amex SmartEarn Credit Card?

Well, we do not have any actual data for an accurate result. But the approval rate of this card is very high as compare to other Amex credit card. With this card, Amex is targeting those customers who are looking for their first credit card.

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