American Express Membership Rewards Credit Card review
A strong card for an existing member who can spend about ₹20,000 a month in four or more bigger swipes, because the monthly bonuses push the return well above the headline rate. People who spend little each month, or mostly on fuel, bills and insurance, get far less. New applicants cannot get it while Amex India's application pause lasts.
Fees
₹4,500 a year + GST. Renewal fee fully waived if you spent ₹1.5 lakh or more in the previous card year. The old half-fee waiver for ₹90,000 to ₹1.5 lakh of spend ends on 11 October 2026.. Forex markup 3.5%.
Rewards
About ₹0.25 a point as statement credit. Through the 24K Gold Collection, 24,000 points get an ₹8,000 Amazon or Flipkart voucher (about ₹0.33) or a ₹14,000 Taj voucher (about ₹0.58). Points can also be moved to airline and hotel partners.
- Fuel: 0% – No points on fuel
- Bills: 0% – No points on utility bills
- Insurance: 0% – No points on insurance premiums
- UPI with a credit card: 0% – Amex cards cannot be used for UPI payments
- Everything else: 0.5%
On a typical spending pattern this card gives back about ₹1,800 a year.
What’s good
- The two monthly bonuses are the real value: ₹20,000 a month in four or more ₹1,500 swipes earns 2,400 points, roughly 3% to 4% back when redeemed through the Gold Collection
- 24K Gold Collection turns 24,000 points into a ₹14,000 Taj voucher or ₹8,000 Amazon/Flipkart voucher
- Points can be moved to airline and hotel programmes such as Marriott Bonvoy and several airlines
- Low first-year fee of ₹1,000
What’s not
- Amex has paused new card applications in India, so only existing members can use it
- No points on fuel, insurance or utility bills, and Amex is not accepted everywhere in India
- ₹4,500 renewal fee unless you spend ₹1.5 lakh a year, with no partial waiver from 11 October 2026
- From 11 October 2026 points stay on each Amex card separately and can no longer be pooled across cards
Lounge access
Domestic: None. International: None.