Amex membership rewards credit card(MRCC)-Review

By | July 26, 2020
American express membership rewards credit card

American Express Membership Rewards Credit Card (MRCC) is an entry-level lifestyle credit card from Amex

American express membership rewards credit card annual fee

  • Joining Fees– INR 1,000+GST
  • Annual/Renewal Fees– INR 4,500 +GST (Waived Off if total Spends in the previous year is above INR 1,50,000/- and 50% will be waived off total spends between INR 90,000 TO 1,59,000/-)
  • Welcome Benefits– Welcome Gift of 4,000 Bonus Membership Rewards Points
Welcome Gift is available only in the 1st year on payment of the annual fee and on spending INR 2,000 within 60 days of card membership.

American express membership rewards credit card features

American express membership rewards credit card offer Regular, monthly and additional rewards points.

Regular Rewards Points

  • 1 Membership Rewards Point for every INR 50 spent
  • Rewards Points- up to 1%

Note:- American express membership rewards credit card points value is 0.25ps if redeemed in statement credit.

Monthly Rewards

  • 1,000 Bonus Membership Rewards Points for simply using your Card 4 times on transactions of INR 1,000 and above every month
  • You can repeat every month to get up to 12,000(1,000*12) points every year.
Pro Tips : Wallets load is also considered Expenses for monthly rewards points.

Additional Rewards Points

  • 5,000 Membership Rewards Points upon First Year Card Renewal, on payment of annual membership fee.
  • Points to be credited within 90 days of Card renewal
  • 1,000 Bonus Membership Reward Points for the first Standing Instruction registered within 5 months of Card membership

MR Points not available on below spends

  • Fuel (Fuel includes petrol, diesel, CNG from Oil Marketing Companies (OMCs)
  • Insurance
  • Utility (electricity, water, and gas bills) payments.
  • Rewards point is not available on EMI Spends(Merchant’s website like online shopping with Amazon or Flipkart and Merchant’s terminal like a Chip and PIN transaction at Croma retail store etc
  • However MR point available on purchase done through Amex SafeKey and on all EMI conversions done post-purchase.

Insurance Benefits

One of the less-known advantages of holding American Express Credit Card in India is their Insurance Offers. American Express offers Health Insurance (Underwritten by ICICI Lombard and Bharti AXA General Insurance) and Car Insurance for cardholders.

Health Insurance

Amex Health Insurance
Amex Health Insurance(Image Courtesy- Amex Insurance)

Key Features of Health Insurance (underwritten by ICICI Lombard)

  • High covers of up to Rs 10 lacs
  • Pre-existing diseases covered post 2nd renewal
  • Lifetime renewability options available
  • Cumulative bonus (10% of Base SI, maximum up to 50% of base SI)
  • Get OPD benefit on Rs 5 lacs, 7 lacs, and Rs 10 lacs covers
  • Complimentary annual health check-up and wellness coupons
  • Ambulance Cover (Rs.1500 per hospitalization) for all SI

Key Features of Health Insurance (underwritten by Bharti AXA General Insurance)

  • High cover options starting from Rs 15 Lacs and up to Rs 1 Crore
  • Pre-existing diseases covered after 2 years of continuous coverage
  • No medical checkup required up to the age of 60 years and/or Sum Insured of up to Rs. 30 Lacs
  • One plan for the entire family
  • Lifetime renewability
  • Get complimentary# health check-up on buying the policy
  • Get 2nd Opinion from qualified doctors across the globe
  • Emergency Air Ambulance(worldwide) services available on request
  • Dedicated claims and servicing helpline 1800 103 5243

Other benefits

  • 0% Convenience fee on fuel purchase at HPCL for transactions less than Rs. 25,000
  • 0.3% Convenience fee on fuel purchases per transaction above Rs. 25,000
  • World Best 24×7 Card Related Assistance
  • Emergency Card Replacement
  • Supplementary Membership Rewards Credit Cards at no additional cost for friend family members with additional MR rewards points

American express membership rewards credit card airport lounge access

I have mentioned the benefits of American Express membership rewards credit card above now check eligibility criteria.

American express membership rewards credit card Eligibility criteria

American Express has very strict eligibility criteria and hence a good credit (CIBIL) score is mandatory along with Stable Income proof. To save time and save CIBIL inquiry you should check below criteria before you apply for this credit card,

  • You Should be Resident in India
  • Current/permanent residential address in India
  • Aged above 18 years
  • Should have Good Credit History( CIBIL Score above 750)
  • Should have Indian or multinational bank’s savings or current account in India
  • Personal Annual Income of INR 6 Lakhs and above (in case of Self Employed or Salaried).
  • Address Should be in Below City
  • Delhi/NCR, Mumbai, Bangalore, Chennai, Pune, Hyderabad, Jaipur, Indore, Coimbatore, Chandigarh, Ahmedabad, Surat & Vadodara.

How to Redeem MRCC Points

Rewards points can be redeemed in following ways.

24,000 MR points / 24 Karat Gold Collection

  • Taj voucher worth INR 14,000
  • Tanishq voucher worth INR 10,000
  • Statement Credit worth INR 9,000

18,000 MR points / 18 Karat Gold Collection

  • Taj Voucher worth INR 9,000
  • American Express Domestic Travel e-voucher worth INR 7,000
  • Amazon e-voucher worth INR 7,000
  • Statement Credit worth INR 6,000

Bottomline

The most known drawback of the Amex credit card is acceptance issues. Amex Credit card is not acceptable across India due to a higher MDR rate. You need to always have a backup card ready if Amex card is rejected by merchants otherwise this is a very good card

Amex membership rewards credit card gives a 1 to 10% return if you use and redeem rewards points smartly. I would say if you are thinking to apply for the Amex credit card the first time, then you should start with Amex membership rewards credit card.

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Author: Dhiraj Jha

I love to acquire, review, and earn reward points/cashback from Credit Cards for free traveling and enjoying luxury hotels. Helping people about the benefits and optimal utilization of credit cards.

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