American Express Membership Rewards Credit Card review
American Express · Amex · points waitlist Partly verified Checked 31 Oct 2026
Verify before applying. We read 3 issuer documents for this card (American Express India - Consumer Experience Updates; American Express India - Membership Rewards Credit Card), but some figures rest on 2 secondary sources (CardAdvisor - Amex MRCC; Live From A Lounge - Amex MR India changes) and are not confirmed in the bank's own terms. Check the issuer's current terms (MITC) first; every source is listed at the bottom with its check date.
New applications for this card are paused or waitlisted, so you may not be able to get it. The values below show what it would earn if you can; they are not an offer, and this page is kept out of search results while the card is unavailable.
At a glance
- Annual fee
- ₹4,500
- Joining fee
- ₹1,000
- Fee waiver
- ₹1,50,000 a year
- Base return
- 0.66% base
- Point value
- ₹0.33 per point
- Domestic lounge
- None found
- International lounge
- None found
Estimated net value a year
| Profile | Net | % of spend |
|---|---|---|
| First card, light spender ₹15k a month | ₹5,013 | 2.8% |
| Metro salaried ₹60k a month | ₹11,880 | 1.7% |
| Family household ₹80k a month | ₹12,672 | 1.3% |
| Frequent flyer ₹1.5L a month | ₹18,612 | 1.0% |
| Online shopper ₹50k a month | ₹11,642 | 1.9% |
| Rent-heavy ₹90k a month | ₹11,801 | 1.1% |
Fee maths: The ₹4,500 annual fee is waived at ₹1,50,000 a year of eligible spend, about ₹12,500 a month. All of our profiles clear that, so the fee costs nothing on them. On our 6 profiles it nets from ₹5,013 (first card, light spender) to ₹18,612 (frequent flyer), equal to 1.0% to 2.8% of spend across the profiles. Without a waiver, the metro salaried category mix earns back the fee from about ₹8,500 a month of total spend.
After fees and caps, best-case redemption. Use your own spend.
Our take: Currently closed to new applications (paused). Fees are ₹4,500 a year (₹1,000 joining), and the earn rate is 1 point per ₹50. Amex's own terms give only one rupee conversion, ₹1 for 4 points (₹0.25) on cancellation; its catalogue implies about ₹0.33 a point for Amazon, Flipkart and Reliance Digital vouchers and ₹0.50 to ₹0.58 for Taj vouchers, so we use ₹0.33. Transfer ratios are behind login. The 50% fee waiver at ₹90,000 spend is withdrawn from 15 November 2026 (the product page still shows it); the full waiver at ₹1.5 lakh remains.
From the card's terms: limits
- Base return is only about 0.66% on other spends
- Availability: waitlist
Reward rates and caps
| Spend category | Points per ₹100 | Value per ₹100 | Cap | Notes |
|---|---|---|---|---|
| Everything else, Amazon, Flipkart, Other online shopping, Groceries, Dining & food delivery, Flights & hotels, Entertainment & OTT | 2 | ₹0.66 | No cap found | 1 MR point per ₹50 on most spends. |
| Fuel, Bills & utilities | 0 | ₹0 | No cap found | No points on fuel, insurance, utility bills, cash, POS merchant EMI. |
Point value: ₹0.33 per point is the value implied by Amex's catalogue for Amazon, Flipkart and Reliance Digital vouchers (24,000 points = ₹8,000). Taj vouchers imply ₹0.50 to ₹0.58, and Amex's terms give ₹0.25 only for a credit on cancellation. Transfer ratios are behind login.
Excluded or reduced
- fuel
- insurance
- utilities
- cash advances
- merchant EMI at POS
Spend milestones
- Spend ₹20,000 a month: 1,000 bonus points for ₹20,000 spend in a calendar month (credited at month-end; from 15 Nov 2026 spend counted by transaction posting date, official) (about ₹330)
- Spend ₹6,000 a month: 1,000 bonus points for 4 transactions of ₹1,500+ in a calendar month (spend = 4 x 1,500) (about ₹330)
Other benefits
- Welcome: 4,000 points on payment of joining fee and ₹15,000 spend within first 90 days (official; about ₹2,000).
- Renewal: 5,000 Membership Rewards points on first-year renewal after annual fee payment, credited within 90 days (official)
- From 15 Nov 2026 MR points are maintained separately per Basic card (no pooling across cards; official). Overdue payments pause earning and redemption until paid; redemption moves to the new Amex app.
- Supplementary card applications paused from 27 Oct 2026
Eligibility
Employed with personal annual income ₹4.5 lakh+ or self-employed ₹6 lakh+; age 18+; resident Indian in listed cities; new applications temporarily paused (official)
Reported rule changes
- 15 Nov 2026: Amex MRCC: 50% fee waiver ends and points rules change from 15 November 2026 official
Compare
Related guides
- How to read a credit card MITC
- How annual fee waivers work
- How reward points work and what they are worth
- Credit card devaluations and what to do
FAQ
What is the annual fee of the American Express Membership Rewards Credit Card?
₹4,500 a year, waived at ₹1,50,000 annual spend. Fees exclude 18% GST.
How do American Express Membership Rewards Credit Card rewards work?
0.66% base. ₹0.33 per point is the value implied by Amex's catalogue for Amazon, Flipkart and Reliance Digital vouchers (24,000 points = ₹8,000). Taj vouchers imply ₹0.50 to ₹0.58, and Amex's terms give ₹0.25 only for a credit on cancellation. Transfer ratios are behind login.
Does the American Express Membership Rewards Credit Card give airport lounge access?
We did not find lounge access on this card in the sources we checked.
Who is the American Express Membership Rewards Credit Card best suited to?
Currently closed to new applications (paused). Fees are ₹4,500 a year (₹1,000 joining), and the earn rate is 1 point per ₹50. Amex's own terms give only one rupee conversion, ₹1 for 4 points (₹0.25) on cancellation; its catalogue implies about ₹0.33 a point for Amazon, Flipkart and Reliance Digital vouchers and ₹0.50 to ₹0.58 for Taj vouchers, so we use ₹0.33. Transfer ratios are behind login. The 50% fee waiver at ₹90,000 spend is withdrawn from 15 November 2026 (the product page still shows it); the full waiver at ₹1.5 lakh remains. The ₹4,500 annual fee is waived at ₹1,50,000 a year of eligible spend, about ₹12,500 a month. All of our profiles clear that, so the fee costs nothing on them. On our 6 profiles it nets from ₹5,013 (first card, light spender) to ₹18,612 (frequent flyer), equal to 1.0% to 2.8% of spend across the profiles.
Sources
- American Express India - Consumer Experience Updates (official notice: 15 Nov 2026 changes) official fetched 2026-10-29
- American Express India - Membership Rewards Credit Card (official) official fetched 2026-10-29
- CardAdvisor - Amex MRCC (aggregator) aggregator fetched 2026-10-29
- Live From A Lounge - Amex MR India changes (aggregator/blog) aggregator fetched 2026-10-29
- American Express India Membership Rewards Program Terms & Conditions (official PDF at americanexpress.com/in/rewards-terms) official fetched 2026-10-30
Not financial advice. Figures are estimates from published terms and may be outdated; confirm with American Express before you apply. Methodology.