American Express Membership Rewards Credit Card Review: On Hold in India
You cannot apply for the American Express Membership Rewards Credit Card right now: Amex has paused all new card applications in India for planned technology updates and has not said when they will reopen. For existing holders it stays a solid points card: 1 point per ₹50, two 1,000-point monthly bonuses, and ₹4,500 plus GST a year from year two, waived at ₹1.5 lakh of spend.
American Express (Amex) was not taking new applications for this card when we last checked (5 November 2026).
Similar cards you can apply for: ICICI Bank Coral Credit Card, SimplyCLICK SBI Card, HSBC TravelOne Credit Card.
Key facts
- Joining fee
- ₹1,000 + GST
- Annual fee
- ₹4,500 + GST. Renewal fee of Rs 4,500 fully waived on spends of Rs 1,50,000 or more in the preceding membership year; 50% waived on Rs 90,000 to Rs 1,49,999. Amex says the 50% waiver ends on 15 November 2026.
- Base reward
- 1 Membership Rewards point for every Rs 50 spent, except fuel, insurance...
- Best category
- No higher-reward category published
- Lounge
- Domestic: None listed International: None listed
- Forex markup
- 3.5% of the amount
- Network
- American Express
In short
A good points card for holders who spend ₹1.5 lakh a year and redeem for Taj vouchers, but no one can apply while Amex's pause lasts.
Best for
- Existing holders who make 4 purchases of ₹1,500 or more every month
- People who redeem through the Gold Collections for Taj vouchers
Skip it if
- You need a card now, since new applications are paused
- You spend under ₹1.5 lakh a year and would pay ₹4,500 plus GST
- Much of your spend is fuel, insurance or utilities, which earn no points
Highlights
- New applications paused in India, no reopening date
- First-year fee ₹1,000, then ₹4,500, both plus GST
- 1 point per ₹50 plus two 1,000-point monthly bonuses
- 50% fee waiver ends 15 November 2026; full waiver at ₹1.5 lakh stays
- Forex mark-up 3.5% and interest 3.5% a month
Membership Rewards card: where things stand
First, the status. Every American Express India card page now says new applications are temporarily paused while Amex makes planned updates to the technology platforms for its domestic card issuing, and no reopening date are given. So this review is mostly for people who already hold the card, and for anyone deciding whether to wait for it.
The card itself is Amex's everyday points card in India, issued by American Express Banking Corp. It earns 1 Membership Rewards point for every ₹50 and pays two 1,000-point bonuses each calendar month for regular use. The first year costs ₹1,000 plus GST and every year after cost ₹4,500 plus GST.
What matters most
- The monthly bonuses do the heavy lifting. Four transactions of ₹1,500 or more in a calendar month earn 1,000 bonus points, and spending ₹20,000 or more earns another 1,000, for which you have to enrol.
- Redemption choice sets the value. 24,000 points gets a ₹14,000 Taj voucher, about ₹0.58 a point, or a ₹8,000 Amazon or Flipkart voucher, about ₹0.33.
- The waiver is narrowing. The ₹4,500 renewal fee is fully waived at ₹1,50,000 of spend in the preceding membership year and halved at ₹90,000 to ₹1,49,999, but Amex says the 50% waiver ends on 15 November 2026.
Changes from 15 November 2026
Accounts shift to Amex's new platform from 15 November 2026, and the bank warns of service interruptions from 11 to 18 November 2026. Several card rules change with the move:
- The 50% annual fee waiver on ₹90,000 to ₹1,49,999 is withdrawn; the full waiver at ₹1.5 lakh stays.
- For statements generated after 15 November 2026, the late fee is based on Total Amount Due in slabs from ₹500 to ₹1,250. Amex has not published the slab table yet.
- Points are kept separately for each Basic Card, and moving points from one card to another stop permanently.
- Spend milestones are counted on the posting date, and the bonus lands when the month you hit the milestone closes.
- If a payment is still overdue when the next statement is generated, you can't earn or redeem points until it is cleared.
RBI data show American Express Banking Corporation with 1,291,873 credit cards outstanding in September 2026, against 1,350,152 a year earlier.
Fees and charges on the Membership Rewards card
The first-year fee is ₹1,000 plus GST, and from the second year the renewal fee are ₹4,500 plus GST. All Amex charges are exclusive of GST, so at 18% the renewal comes to ₹5,310 (₹4,500 plus ₹810). Up to 2 supplementary cards are free, and each one after that costs ₹1,500.
Will you reach the waiver?
The full waiver needs ₹1,50,000 of spend in the preceding membership year, which is ₹12,500 a month (₹1,50,000 divided by 12). That is within reach for salaried household that puts groceries, shopping and dining on the card. Until 15 November 2026 there is also a half waiver from ₹90,000, which is ₹7,500 a month, but plan on only the full waiver from now.
One quirk: the 5,000 bonus points on first-year renewal come on payment of the annual fee. The card page ties them to that payment, so a renewal you get waived may not earn them, and Amex doesn't spell it out.
Interest, late fee and cash
- Interest: 3.5% a month or 42% a year, and 3.99% a month (47.88% a year) in case of default.
- Late fee today: 30% of the Minimum Payment Due, never below ₹500 or above ₹1,000, plus taxes, when the minimum isn't received by the due date. A ₹2,000 minimum due would draw ₹600, which is 30% of it.
- Late fee for statements after 15 November 2026: slabs from ₹500 to ₹1,250 on the Total Amount Due, table not yet published.
- Cash advance: 3.5% of the amount, minimum ₹250, with interest from withdrawal. But Amex has temporarily stopped cash withdrawals in India; ATMs abroad still works, up to USD 333 every 14 days or 20% of your credit limit, whichever is lower.
- Over-limit: no fee is listed, and over-limit transactions have been temporarily disabled since 1 October 2022.
- Forex: a 3.5% currency conversion assessment, plus GST.
Fuel, rail and other charges
Instead of a surcharge waiver, Amex charges a convenience fee on fuel: 0% at HPCL below ₹5,000 and 1% at HPCL from ₹5,000; 1% (minimum ₹10) at BPCL and IOCL; and 2.5% (minimum ₹10) at other oil companies. So a ₹3,000 fill at BPCL cost ₹30 in fee, at HPCL nothing.
IRCTC railway tickets carry 1.8% of the value (minimum ₹10) plus payment gateway charges and GST. A returned cheque or NACH costs ₹250, a duplicate statement older than 3 months ₹100, and government payments through GRAS via SBI ePay carry 0.94% up to ₹90,00,000 and 0.99% above. The schedule we read lists no rent, wallet or education fee for this card, though utilities and insurance earns no points.
Amex MRCC: fees and charges
| Joining fee | ₹1,000 + GST |
|---|---|
| Annual or renewal fee | ₹4,500 + GST |
| Annual fee waiver | Renewal fee of Rs 4,500 fully waived on spends of Rs 1,50,000 or more in the preceding membership year; 50% waived on Rs 90,000 to Rs 1,49,999. Amex says the 50% waiver ends on 15 November 2026. |
| Add-on card fee | ₹1,500 + GST |
| GST | Charged on top of the fees and charges listed |
| In the bank’s words | First Year Fee: Rs. 1,000 plus applicable taxes (Second Year onwards: Rs. 4,500 plus applicable taxes). Up to 2 supplementary cards free, Rs 1,500 each thereafter. |
| Interest on unpaid balances | Up to 3.5% a month (42% a year) |
| Late payment fee | 30% of the Minimum Payment Due, subject to a minimum of Rs 500 and a maximum of Rs 1,000, plus taxes, if the Minimum Payment is not received by the payment due date (MITC 31 March 2026). Amex says that for statements generated after 15 November 2026 the late fee will be based on Total Amount Due in slabs ranging from Rs 500 to Rs 1,250; the slab table is not yet published. |
| Cash withdrawal | Transaction fee of 3.5% of the cash advance amount, minimum Rs 250; interest from the date of withdrawal. Amex says cash withdrawal on its cards is temporarily suspended in India (overseas ATMs still work); limit USD 333 every 14 days or 20% of credit limit, whichever is lower. |
| Over-limit fee | No over-limit fee listed. MITC: 'Effective 1 October 2022, Overlimit transactions on your American Express Card have been temporarily disabled.' |
| Forex markup | 3.5% of the amount |
| Other fees |
|
Earning and using Membership Rewards points
The base earn is 1 point for every ₹50, which is 2 points per ₹100. Fuel, insurance, utilities, cash transactions and EMI chosen on a merchant website or terminal earn nothing. On top of this comes two monthly bonuses plus a welcome and a renewal bonus.
| Bonus | Condition | Points |
|---|---|---|
| Monthly use bonus | 4 transactions of ₹1,500 or more in a calendar month | 1,000 |
| Monthly spend bonus | ₹20,000 or more in a calendar month, after enrolment | 1,000 |
| Welcome | Pay the joining fee and spend ₹15,000 in the first 90 days | 4,000 |
| First renewal | On payment of the annual fee | 5,000 |
What a point is worth
| Redemption | Points | Value | Per point |
|---|---|---|---|
| 24 Karat Gold Collection: Taj voucher | 24,000 | ₹14,000 | about ₹0.58 |
| 24 Karat Gold Collection: Amazon or Flipkart | 24,000 | ₹8,000 | about ₹0.33 |
| 18 Karat Gold Collection: Taj voucher | 18,000 | ₹9,000 | ₹0.50 |
| 18 Karat Gold Collection: Amazon or Flipkart | 18,000 | ₹6,000 | about ₹0.33 |
So 2 points per ₹100 is worth about ₹1.16 per ₹100 for Taj (2 x ₹0.58) and about ₹0.66 for Amazon (2 x ₹0.33). Statement credit through Pay with Points are available from 1,000 points, but Amex does not publish its rupee rate on public pages. Points on the Frequent Traveller Option tier never expire, as per the MITC, and the card page don't state a redemption fee.
Three worked examples for existing holders
Each example puts some spend on excluded bills or fuel, meets the 4-transaction bonus every month and is enrolled for the ₹20,000 bonus, which we test against eligible spends only. From year two the fee is ₹5,310 with GST unless waived.
Light: ₹10,000 a month
₹2,000 of it goes on utilities and fuel, so ₹8,000 earns points.
| Item | Working | Per year |
|---|---|---|
| Base points on ₹8,000 eligible | ₹8,000 divided by ₹50 = 160 a month, x 12 | 1,920 |
| Use bonus | 1,000 a month, x 12 | 12,000 |
| Spend bonus | Below ₹20,000, not earned | 0 |
| Total points | 1,920 + 12,000 | 13,920 |
| Value | 13,920 x ₹0.33, or 13,920 x ₹0.50 once 18,000 are collected | ₹4,593.60 to ₹6,960 |
| Fee from year two | ₹10,000 x 12 = ₹1,20,000, below ₹1.5 lakh | ₹5,310 |
The light holder pay ₹5,310 for points worth ₹4,593.60 to ₹6,960, and can't even redeem a Gold Collection inside the year, because 13,920 is short of 18,000. Here the fee wins.
Typical: ₹25,000 a month
₹3,000 goes on utilities, insurance and fuel, leaving ₹22,000 eligible.
| Item | Working | Per year |
|---|---|---|
| Base points on ₹22,000 eligible | ₹22,000 divided by ₹50 = 440 a month, x 12 | 5,280 |
| Use bonus | 1,000 a month, x 12 | 12,000 |
| Spend bonus | ₹22,000 eligible is above ₹20,000; 1,000 a month, x 12 | 12,000 |
| Total points | 5,280 + 12,000 + 12,000 | 29,280 |
| Redemption | One 24 Karat Gold Collection (24,000), 5,280 left | ₹14,000 Taj or ₹8,000 Amazon |
| Fee from year two | ₹25,000 x 12 = ₹3,00,000, above ₹1.5 lakh | Waived |
This is the holder Amex built the card for. The fee is waived, and a ₹14,000 Taj voucher on ₹3,00,000 of spend is about 4.67%, with 5,280 points that remains for next year. Take the Amazon voucher and it is about 2.67% (₹8,000 on ₹3,00,000).
Heavy: ₹85,000 a month
₹7,000 goes on excluded categories and ₹78,000 is eligible.
| Item | Working | Per year |
|---|---|---|
| Base points on ₹78,000 eligible | ₹78,000 divided by ₹50 = 1,560 a month, x 12 | 18,720 |
| Both bonuses | 2,000 a month, x 12 | 24,000 |
| Total points | 18,720 + 24,000 | 42,720 |
| Redemption | 24 Karat (24,000) plus 18 Karat (18,000); 42,720 minus 42,000 leaves 720 | ₹14,000 + ₹9,000 = ₹23,000 Taj, or ₹8,000 + ₹6,000 = ₹14,000 Amazon |
| Fee from year two | Well above ₹1.5 lakh | Waived |
The bonuses matter less as spend grow: 24,000 of 42,720 points for the heavy holder, against 12,000 of 13,920 for the light one. Lighter spending earns more points per rupee, but the fee only goes away from ₹12,500 a month, which is why the typical holder comes out best.
Amex MRCC: how rewards work
| Earned as | Membership Rewards points |
|---|---|
| Base rate | 1 Membership Rewards point for every Rs 50 spent, except fuel, insurance, utilities, cash transactions and EMI conversion at point of sale |
| Minimum spend rules | Monthly bonus: 1,000 bonus MR points for using the card 4 times on transactions of Rs 1,500 or more in a calendar month; another 1,000 MR points for spending Rs 20,000 or more in a calendar month (enrolment required). |
| No rewards on |
|
| Lower rewards on | None published |
| Value of a point |
|
| Redemption fee | Not stated on the card page |
| Expiry | Points on the FTO (Frequent Traveller Option) tier never expire (MITC) |
| Welcome benefits |
|
| Milestone benefits |
|
| Lounge access | Domestic: None listed International: None listed |
| Fuel surcharge waiver | 0% convenience fee at HPCL for transactions below Rs 5,000; 1% at HPCL on Rs 5,000 and above (no general fuel surcharge waiver) |
| Insurance cover | Not listed on the card page |
Eligibility before the pause, and what to watch
You can't apply today. Amex's notice on every India card page says new applications are temporarily paused for planned technology updates, and there are no date for reopening. What follows is what the card asked for before the pause, which is the best guide to what may apply when applications come back.
What Amex asked for
- Age over 18.
- Salaried: personal annual income of ₹4.5 lakh or more, about ₹37,500 a month.
- Self-employed: personal annual income of ₹6 lakh or more, with the company trading for more than 12 months.
- Resident Indian with a savings or current account at an Indian or multinational bank in India.
- A good credit history, and a home in one of the cities Amex issues this card in; the card page lists 19 of them.
Documents
Amex's KYC list asked for your PAN card (Form 60 if you have no PAN), one recent passport-size photo, and one officially valid document showing your current address. That last one could be your passport, Voter ID, driving licence, an NREGA job card, a National Population Register letter, or proof of possession of Aadhaar with the first 8 digits masked.
How applying worked
Applications was made online on the Amex India website, and cards went only to residents of the listed cities.
What to watch for
- A reopening notice on the card page; Amex has not given any date.
- Whether the criteria change once applications return.
- Your own credit report in the meantime. Experian India sees scores above 750 as generally good, and RBI rules let a bank set your limit only after counting your other card limits, so a clean, low-usage report help whichever card you go for.
- Anyone who claims they can get you this card now. Under the RBI's 2025 card Directions only the issuer decides, and Amex is not taking applications.
If you need a card now, the next tab compares open cards, and approval for those rests with their banks.
Amex MRCC: eligibility and documents
| Age (salaried) | Over 18 |
|---|---|
| Age (self-employed) | Over 18 |
| Income (salaried) | Personal annual income of Rs 4.5 lakh and above |
| Income (self-employed) | Personal annual income of Rs 6 lakh and above; company trading for more than 12 months |
| Other conditions | Resident Indian; savings or current account with an Indian or multinational bank in India; good credit history; resident of a listed city. minIncomeMonthly is the annual salaried figure divided by 12. |
| Documents |
|
| How to apply | Amex says it is temporarily not accepting new card applications in India (notice on every card page, read 5 November 2026). Normally cards are applied for online on americanexpress.com/in and issued only to residents of listed cities. |
| Card customer care | 1800 419 2122 (toll free, general customer service); card-specific: Platinum Reserve 1800 419 1030, Platinum Travel 1800 419 2122, Membership Rewards 1800 419 0167, SmartEarn 1800 208 1226, Gold Card 1800 419 1120, Platinum Card 1800 419 1255 |
These are the bank's published conditions. Meeting them does not guarantee a card: approval and the credit limit are the bank's decision.
Who it suits and who should look elsewhere
For a holder who already have the card, keep it if you spend at least ₹12,500 a month in four or more ₹1,500 purchases. That avoids the ₹4,500 renewal and earns 12,000 bonus points a year from the use bonus alone, or 24,000 once you also cross ₹20,000 a month (1,000 plus 1,000, twelve times), enough for a ₹14,000 Taj voucher.
It is a weaker deal under ₹1.5 lakh a year. From 15 November 2026 the half waiver is gone, so ₹90,000 of spend no longer saves ₹2,250 (half of ₹4,500). Paying ₹5,310 for points worth less than that, as the light example shows, make little sense.
Skip it, or lower your hopes, if your spending is mostly fuel, insurance or utilities, if you travel abroad often (3.5% forex plus GST, no lounges listed) or if you carry a balance at 3.5% a month. And if you planned to apply, you simply can't until Amex reopens.
The trade-off: the best value needs Taj redemptions and steady monthly use. The moment you prefer shopping vouchers, each point sits near ₹0.33, and a cheaper card would do the job just as well.
Pros
- 1 point per ₹50 plus two 1,000-point monthly bonuses
- Renewal fee fully waived at ₹1.5 lakh of spend in the preceding membership year
- 24,000 points buy a ₹14,000 Taj voucher, about ₹0.58 a point
- Points on the Frequent Traveller Option tier never expire
- Up to 2 supplementary cards free
Cons
- New applications paused in India with no reopening date
- Renewal fee of ₹4,500 plus GST below ₹1.5 lakh, and the 50% waiver ends on 15 November 2026
- No points on fuel, insurance, utilities, cash or merchant EMI
- 3.5% forex mark-up and 3.5% monthly interest
- Shopping vouchers value points at only about ₹0.33
- From 15 November 2026 points can no longer move between your Amex cards
Cards you can apply for instead
With the Membership Rewards card closed to new applicants, here are three rewards cards for the same need that are open today.
ICICI Bank Coral
The ICICI Coral costs ₹500 plus GST, reversed for that year if you spend ₹1.5 lakh, the card page words it as a waiver for the next year. It earns 2 points per ₹100 plus milestone points (2,000 at ₹2 lakh and 1,000 for every extra ₹1 lakh, up to 10,000 a year), but ICICI doesn't publish a point value. It gives 1 domestic lounge visit a quarter after ₹75,000 of spend in the previous quarter, has a 3.5% forex mark-up, runs on RuPay and asks ₹20,000 a month for salaried applicants.
SBI Card SimplyCLICK
The SBI SimplyCLICK costs ₹499 plus taxes, reversed on ₹1 lakh of yearly spend. It is strong online: 10 points per ₹100 at partners like Swiggy, Myntra and BookMyShow and 5 points per ₹100 on other online spends (capped at 10,000 points a month). With 4 points to ₹1, that is ₹2.50 and ₹1.25 per ₹100 (10 divided by 4, and 5 divided by 4). Annual online spends of ₹1 lakh and ₹2 lakh each bring a ₹2,000 Cleartrip or Yatra voucher, and SBI Card publishes no minimum income.
HSBC TravelOne
For the points collector who liked Amex's Taj and travel redemptions, the HSBC TravelOne is the nearest open option at a similar fee: ₹4,999, reversed with GST above ₹8 lakh. It earns 2 points per ₹100 and 4 on flights, travel aggregators and foreign currency, and its points transfer 1:1 to airline programmes. The waiver bar is far higher than Amex's ₹1.5 lakh though, and it want ₹6 lakh a year of salaried income.
Which to pick
Already an Amex holder spending over ₹12,500 a month? Keep the card. New applicants can pick Coral for a cheap all-rounder, SimplyCLICK for online shopping, and TravelOne if airline miles are the goal and spending is heavy. See the full Amex lineup, charge cards included, on our American Express cards page, use the card finder to match your spend, or start from our credit cards hub.
Amex MRCC against similar cards
| Term | American Express Membership Rewards® Credit Card This card | ICICI Bank Coral Credit Card | SimplyCLICK SBI Card | HSBC TravelOne Credit Card |
|---|---|---|---|---|
| Bank | American Express (Amex) | ICICI Bank | SBI Card | HSBC India |
| Joining fee | ₹1,000 + GST | ₹500 + GST | ₹499 + GST | ₹4,999 + GST |
| Annual fee and waiver | ₹4,500 + GST. Renewal fee of Rs 4,500 fully waived on spends of Rs 1,50,000 or more in the preceding membership year; 50% waived on Rs 90,000 to Rs 1,49,999. Amex says the 50% waiver ends on 15 November 2026. | ₹500 + GST. Spend over ₹1.5 lakh and get annual fee waived off for the next year (card page); MITC footnote *** says the fee for the year is reversed on anniversary-year completion | ₹499 + GST. Renewal Fee is reversed if annual spends for last year >= Rs. 1,00,000. | ₹4,999 + GST. Annual fee, including GST, fully reversed if total eligible spend across primary and add-on cards in the anniversary year exceeds Rs 8,00,000 |
| Base reward | 1 Membership Rewards point for every Rs 50 spent, except fuel, insurance... | 2 reward points per ₹100 on retail spend | 1 Reward Point per Rs. 100 on all other spends (about 0.25% value) | 2 reward points for every Rs 100 spent, no cap |
| Best category | No higher-reward category published | No higher-reward category published | Online spends with exclusive partners: Apollo 24x7, BookMyShow, Cleartrip, Domino's, GyFTR, IGP, Myntra, Netmeds, Swiggy, Tata CLiQ, Yatra: about 2.5% value | Flights, travel aggregators and foreign currency spends: 4 reward points per Rs 100 |
| Lounges | Domestic: None listed International: None listed | Domestic: 1 domestic airport lounge access per quarter (primary cardholder) on ₹75,000 spend in the preceding quarter; 4 railway lounge accesses a year (1 per quarter) International: None | Domestic: None listed on card page International: None listed on card page | Domestic: 6 complimentary domestic lounge visits a year International: 4 complimentary international lounge visits a year (LoungeKey) |
| Forex markup | 3.5% of the amount | 3.5% of the amount | 3.5% of the amount | 3.5% of the amount |
| Network | American Express | RuPay | Visa, Mastercard | Mastercard |
| Published minimum income | ₹37,500 a month | ₹20,000 a month | Stable income; SBI Card says the specific minimum varies by card and does not... | ₹50,000 a month |
| Status | Not taking new applications | Taking applications | Taking applications | Taking applications |
Frequently asked questions
Can I apply for the Amex Membership Rewards Credit Card now?
What is the Amex Membership Rewards card's annual fee and waiver?
How much is a Membership Rewards point worth?
What eligibility applied before the application pause?
What changes on Amex cards from 15 November 2026?
Does the Membership Rewards card have lounge access or low forex?
Related
- American Express Credit Cards 2026: The Pause and the 15 Nov Changes
- ICICI Bank Coral Credit Card Review: A ₹500 First Card That Works on UPI
- SimplyCLICK SBI Card Review: 10X Online Points for a ₹499 Fee
- HSBC TravelOne Credit Card Review: 1:1 Airline Miles for a ₹4,999 Fee
- Card finder and comparison guide
Sources
- American Express Banking Corp.: Most Important Terms and Conditions for American Express Credit Cards (update as on 31 March 2026); American Express Membership Rewards Credit Card; Schedule of Fees and Charges (updated as on 31 August 2025); Your American Express Experience is Evolving (Consumer Experience Updates); Know Your Customer (KYC) documents required for your card application; Contact Us | American Express India
Last verified: 5 November 2026
Written by Pankaj Pandey, reviewed by BankCreds Financial Experts
BankCreds does not sell cards or take applications. Fees and rewards change; the bank's own terms on the day you apply are what count, and approval is the bank's decision.