American Express Membership Rewards Credit Card
American Express Banking Corp. · Applications paused
Amex's Membership Rewards card: 1 point per ₹50, monthly bonus points for steady use, a 4,000-point welcome bonus and a full fee waiver at ₹1.5 lakh of yearly spend. New applications are paused.
- Annual fee
- ₹4,500 + GST a year
- Joining fee
- ₹1,000 + GST
- Fee waiver
- Annual fee waived on ₹1,50,000 spend per card year
- Base rate
- All other spends and telecom, 1 point per ₹50: 1 Membership Rewards points per ₹50 (about 0.5% at cash value)
- Lounges
- None on record
- Forex markup
- 3.5%
- Data
- From bank documents, checked 20 Oct 2026
Earns nothing on
- No points on fuel, insurance or utility bills
- No points on cash advances, express cash, drafts or balance transfers
- No points on EMI chosen at a merchant website or terminal
Where the sources disagree
- Fuel convenience fee: The generic rewards listing still says 0% under ₹25,000 and 0.3% above. The fee schedule (2025-08-31) and the card's product page give 0% under ₹5,000 at HPCL and 1% from ₹5,000. We use the schedule and the card page; the listing looks stale.
Terms the calculator does not value
- Transfers to partner programmes are available, but Amex publishes no partner list or ratios (they change without notice and are not in the T&C), so no transfer option is valued. Third-party reports of 2026 ratio changes and an Etihad Guest removal are unverified.
- Gold Collection values come from the card page and link to a separate list that may be newer; the Taj voucher (₹0.5833 a point) is the best listed value. Points redeemed at statement credit (₹0.25) are what the cash mode uses.
- The monthly bonuses need enrolment, and the four-transaction one is modelled as ₹6,000 of monthly spend. Which spends count toward either threshold is not stated; all spend is counted.
- The 5,000-point first-year renewal bonus (about ₹1,250 at statement-credit value) is given only when the first renewal fee is paid, so it is recorded as a benefit and not valued.
- The 50% fee waiver tier (spend of ₹90,000 to ₹1,49,999) exists until 2026-11-15; only the full waiver at ₹1.5 lakh is modelled.
- The late payment fee is 30% of the minimum amount due (minimum ₹500, maximum ₹1,000), but the footnote charges it when the full amount due is unpaid. The format has no field for a percentage fee, so it is described in the issuer's charges note. The ₹10 minimum on the BPCL, IndianOil and other-OMC fuel fees is not applied.
- The 10X and 5X accelerated categories on the rewards listing belong to the SmartEarn card (by footnote marker), and the 14% EMI line is also SmartEarn's. Neither is entered here.
Sources
- American Express India travel rewards cards listing (Platinum Travel) (Product page, the bank's own, read 20 Oct 2026)
- American Express India rewards cards listing (Membership Rewards and others) (Product page, the bank's own, read 20 Oct 2026)
- American Express Membership Rewards Program Terms and Conditions (no version date in the extracted text) (Reward terms, the bank's own, read 20 Oct 2026)
- Schedule of Fee and Charges (updated as on 2025-08-31) (Schedule of charges, the bank's own, read 20 Oct 2026)
- American Express Membership Rewards Credit Card product page (Product page, the bank's own, read 20 Oct 2026)
- Your American Express experience is evolving (changes from 2026-11-15) (Bank notice, the bank's own, read 20 Oct 2026)