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American Express Membership Rewards Credit Card Review

American Express Membership Rewards is best for regular monthly spenders who can hit the amex bonuses. 1,000 bonus points a month for 4 transactions of ₹1,500+.

Annual fee₹4,500 + GST
Fee waiver₹1,50,000 / year
Top reward rate1%
Forex markup3.5%
NetworkAmerican Express
Min. incomeNot published
Visit American Express website Calculate my rewards

Pros

  • 1,000 bonus points a month for 4 transactions of ₹1,500+
  • 1,000 more points a month on ₹20,000 spend
  • Renewal fee waived at ₹1.5 lakh yearly spend

Cons

  • 50% fee waiver at ₹90,000 removed from 11 October 2026
  • Amex acceptance is narrower than Visa or Mastercard
  • No rewards if payment is still due when the next statement is generated (from Oct 2026)

Reward rate by category

Effective value back per ₹100 spent. 1 Membership Rewards point per ₹50; points valued at about ₹0.50 via the gold collections. Milestones modelled as reached every month once yearly spend crosses the threshold.

Amazon1%
Flipkart1%
Other online shopping1%
Food delivery1%
Dining out1%
Groceries1%
Flights & hotels1%
Fuel0%
Bills & recharges0%
Everything else1%

Caps, tiers & milestones

  • 1,000 bonus points each month with 4 transactions of ₹1,500+
  • 1,000 more points each month you spend ₹20,000

How much could you earn?

Estimated yearly value after fees and caps for typical spending patterns.

Balanced spender
₹3,96,000/yr spend
₹15,240
Online shopper
₹3,90,000/yr spend
₹15,660
Frequent traveller
₹8,04,000/yr spend
₹14,484
Family & groceries
₹5,88,000/yr spend
₹16,560

Use my own spends

Lounge access

None

Recent changes to this card

  1. Devaluation American Express

    Amex MRCC: 50% fee waiver removed (from 11 Oct 2026)

    The 50% renewal fee waiver at ₹90,000 spend ends; points kept separately per card; no rewards while a payment is overdue at the next statement.

    Amex MRCC · Source

See all credit card changes →

Compare Amex MRCC with

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HDFC Bank Millennia Credit Card

CashbackShoppingBeginner friendly
Annual fee₹1,000 + GST
RewardsUp to 5%
Forex markup3.5%
  • 5% cashback on 10 merchants: Amazon, BookMyShow, Cult.fit, Flipkart, Myntra, Sony LIV, Swiggy, Tata CLiQ, Uber and Zomato
  • 1% cashback on other spends
  • ₹1,000 gift voucher every quarter you spend ₹1 lakh
View details

American Express Membership Rewards FAQs

What is the annual fee of the American Express Membership Rewards credit card?

The American Express Membership Rewards credit card has a joining fee of ₹1,000 and an annual fee of ₹4,500, plus 18% GST. The annual fee is waived if you spend ₹1,50,000 or more in a card year.

Is American Express Membership Rewards a good credit card?

The American Express Membership Rewards card is best for: regular monthly spenders who can hit the amex bonuses. Its main strengths are: 1,000 bonus points a month for 4 transactions of ₹1,500+; 1,000 more points a month on ₹20,000 spend. Its main drawback: 50% fee waiver at ₹90,000 removed from 11 october 2026.

What is the forex markup on American Express Membership Rewards?

The American Express Membership Rewards card charges a 3.5% forex markup on international transactions, plus 18% GST on the markup.

Does American Express Membership Rewards offer airport lounge access?

No, the American Express Membership Rewards card does not offer complimentary airport lounge access.

✓ Details verified 26 September 2026Minimum income: not published. Sources: American Express: Membership Rewards Credit Card · CardInsider: MRCC changes from 11 October 2026. Banks change terms often, so confirm on the American Express website before applying.
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