American Express Membership Rewards Credit Card (MRCC) Review

American Express Membership Rewards Credit Card is one of the most rewarding amex credit cards available in the market. With this card, you can earn bonus rewards every month which can be redeemed for statement credit, gift cards, hotel booking, or air ticket booking.

My Personal Experience 

I love this card to earn 1000 MR bonus points every month which is equivalent to Rs. 375. To earn 1000 MR points you need to spend Rs.6000 every month (4 transactions of Rs. 1500 each). I have been able to enjoy a return of more than 10%. You can also redeem these points in terms of flight booking which value of 60-70 paise. 

Moreover, Amex Membership Reward credit card also provides merchant offers and spend-based offers that have also been incredibly beneficial most of the time. Overall, the card has been a great choice for me, providing excellent value and benefits.

Let’s take a closer look at its features and benefits.

Fees & Charges

The Amex Membership Rewards credit card has a reasonable joining fee of Rs. 1000 and an annual fee of Rs. 4500. However, the annual fee can be completely waived if total spending is above Rs. 1,50,000 or with a 50% waiver on Rs. 90,000 spent in the preceding year.

Feature & Benefits

Welcome Benefits

You can get 4000 Bonus Membership Reward Points as a welcome gift. These points will be credited to your account on successful payment of the joining fee of Rs 1000 and on spending Rs. 15,000 within 90 days of the card issuance.  

Rewards

For every Rs. 50 spent on the card (excluding fuel transactions, utility bill payments, insurance, and cash transactions), you can earn 1 membership reward point. You can redeem these membership reward points under 18 and 24 Karat Gold Collection or Marriott Bonvoy. 

Reward redemption under 18 Karat Gold Collection/18,000 points-

• E-Gift Voucher from TAJ worth Rs 9,000/-
• E-Voucher from Amazon worth Rs 7,000/-
• Myntra voucher worth Rs 8,000/-
• Flipkart voucher worth Rs. 7,000/-
• Shoppers Stop voucher worth Rs. 8,000/-
• Big Basket voucher worth Rs. 8,000/-
• Croma voucher worth Rs. 7,000/-
• Statement cash of Rs 6,000/-

Reward redemption under 24 Karat Gold Collection/ 24,000 points –

• E-Gift Voucher from TAJ worth Rs 14,000/-
• E-Voucher from Tanishq worth Rs 10,000/-
• Vistara voucher worth Rs. 11,000/-
• Flipkart voucher worth Rs. 9,000/-
• E-Voucher from Amazon worth Rs 9,000/-
• Croma voucher worth Rs. 9,000/-
• Shoppers Stop voucher worth Rs. 11,000/-
• Statement cash of Rs 9,000/-

If your annual spend 4lakh or more, consider American Express Platinum Travel credit card is a better option. You get 7.5% reward redemption return on travel-related expenses. 

Milestone Benefits

• Monthly milestone benefit – You can earn 1,000 Bonus Membership Reward Points on completing 4 transactions of Rs 1,500 or more on your American Express Membership Rewards credit card, in a calendar month. These membership reward points shall be assigned to you within 30 days after the completion of the calendar month.
• You get spend-based 1,000 Membership Reward Points on spending Rs 20,000 in a calendar month. You need to enroll to avail this benefit.
• You cannot redeem the accumulated MR points under the spend-based monthly milestone benefit against statement cash.

Additional Benefits

• You can enjoy special dining discounts up to 20% off using your American Express Reward credit card at select restaurants.
• 0% waiver on fuel convenience fee at HPCL fuel stations on fuel transactions below Rs 5,000.
• Get 1% waiver on the fuel convenience fee at all fuel stations across India.
• You also get zero lost card liability protection assurance, 24×7 card assistance, and emergency card replacement.

Lounges Access

The international and domestic lounges are not available with this card, which is one of its drawbacks. 

Foreign Currency Markup Fee

The forex markup fee on this credit card is 3.5%, which is relatively high compared to other premium credit cards. You can check the list of debit and credit cards that charge zero forex charges.

Conclusion

The American Express Membership Rewards Credit Card (MRCC) can be your second card because at most places Amex cards are not acceptable in India. If you hold many credit cards, then MRCC should be one of them.

You can choose the alternative to MRCC based on your spending structure. Axis Vistara credit card is a good option if you can spend about 12 lakh in a year. You would get 5 complimentary business class air tickets.

If you spend most on Amazon, Flipkart, Zomato, or Swiggy then you can go with HDFC Millennia credit card to get 5% cashback

FAQs:

#1. What is the annual fee for the MRCC and how can I get it waived? 

The annual fee for the MRCC is Rs. 4500. However, if you spend a total of Rs. 1,50,000 or more in a year, the annual fee will be waived 100%. Additionally, if you spend Rs. 90,000 or more in the preceding year, you can get a 50% waiver on the annual fee.

#2. What is the welcome bonus for the MRCC? 

The welcome bonus for the MRCC is 4,000 Membership Rewards points. These points will be credited to your account once you make your first transaction within 90 days of card issuance.

#3. Does the MRCC offer any lounge access benefits? 

American Express Membership Rewards Credit Card (MRCC) does not offer any domestic or international lounge access. 

#4. What is the cost per point on statement cash redemption under 18 Karat Gold Collection?

In the case of statement cash redemption under 18 Karat Gold Collection is 1 Membership Reward point = Rs 0.33 

#5. What is the cost per point on statement cash redemption under 24 Karat Gold Collection?

1 Membership Reward point = Rs 0.37 in case of statement cash redemption under 24 Karat Gold Collection.

#6. What is the forex markup fee for Amex MRCC? 

The forex markup fee for Amex MRCC is 3.5%.