Credit Card Reviews

India Loves The American Express Membership Rewards Card ⎢Review

Membership Is Truly Rewarded With Amex

American Express scores the highest in customer satisfaction in large part to it’s world class rewards program. India is responding in kind by applying for the Amex Membership Rewards Card. The card gained a lot of fans and deserved popularity in 2017. It’s easy to lose track of which card offer X features and what card does Y. In terms of rewards power, the Membership Rewards card falls somewhere in between the traditional and original Amex Gold Card and the American Express Platinum. But this card beats them out for a few reasons.

 

 

Why You Will Like Membership Rewards

The Membership Rewards card is an impressive choice for shoppers and travelers alike. Firstly the points are generous. Amex is offering. you 4000 points simply for using the card 3 times within the first 60 days, and upon payment of the annual fee. Frequent users are also rewarded with 1000 points simply for using the card 4 times for a transaction of 1000 INR or more. These points add up faster than you think, and you can turn to their Membership Rewards page to redeem points. The expansive Membership Rewards catalogue will blow your mind. Your points can be redeemed for luxury experiences, travel vouchers, electronics.  Even hotel stays, or even gift cards are waiting for you. I would recommend visiting the catalogue so you can fully appreciate the vast amount of products your points can earn you. There simply isn’t a better card in terms of squeezing the most value from your points.

Bonus, It Helps Your CIBIL More

One important difference is the Membership Rewards card is a credit card, whereas the Gold and Platinum are charge cards. The distinction is notable because although the Gold and Platinum offer “no preset limits” giving you theoretically more purchasing power, in many cases a credit card with a hard limit is preferable. Why you ask? Because your card limit would be reported to CIBIL and add to your available credit, a factor which impacts your score.

Who is this card for?

Well, you need a 6 Lakh annual income for approval, so keep that in mind. Anyone who spends a reasonable amount per month or takes at least 1 trip per year will certainly get plenty of value from the Membership Rewards. The rewards are earned efficiently by hitting 4 transactions per month of 1000 INR or more. Each time that happens you get 1000 bonus points. The amazing thing is, you can do this up to a 12000 point bonus PER month. If your spending habits are such, you will do very well for yourself when the time comes to cash in the points.

The Verdict

The bottom line here is get this card. The main incentive to use a credit card for your purchases is the points. Card ensure you’ll be rewarded in the end. Paying with cash is less safe and offers no incentive. In pure terms, it’s financially irresponsible to NOT use a credit card for your everyday purchases if you ask me! Perhaps writing for CreditSmart I am a bit biased, but the fact remains: You are spending money anyway – so why not earn something along the way? That’s exactly what the American Express Membership Rewards card does, and does it very well. Apply here.

 

Jay Kaul

About Jay Kaul

Jay is a financial and credit expert and freelance contributor to CreditSmart. He's always keeping his eyes open for the latest credit card trends in India and provides a sharp insight on new entries into the market.

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