American Express Membership Rewards Credit Card (MRCC): The American Express Membership Rewards Credit Card (MRCC), issued by AmEx gives you good value back on your purchases in the form of reward points and the earned reward points can be redeemed against the gift vouchers of top brands like Amazon, Flipkart, and so on.
Not just the reward point, you also get other benefits and privileges such as 1 membership reward point per Rs 50 on your spend, excluding fuel transactions, Utility bill payments, insurance, and cash transactions. And other benefits and offers in other categories i.e., monthly milestone rewards, fuel surcharge waiver, entertainment benefits, and insurance benefits.
Therefore, here in this article we are going to see the benefits and features provided by the American Express Membership Rewards Credit Card (MRCC) and the eligibility to apply for the same.
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1. American Express Membership Rewards Credit Card Features and Benefits
The American Express Membership Rewards Credit Card comes with great privileges across different categories.
Here we have mentioned the features and benefits offered by the American Express Membership Rewards Credit Card:
- Welcome Benefits: As a Welcome Benefit, you get 4000 Bonus Membership Reward Points and which can be availed on successful payment of the joining fee of Rs 1,000 and on spending Rs. 15,000 within 90 days of the card activation. The information related to the welcome benefits will be communicated via SMS or Email at your registered phone number or Email ID.
- Milestone Benefits: In a month, get 1,000 Bonus Membership Reward Points on completing 4 transactions of Rs 1,500 or more and also get spend-based 1,000 Membership Reward Points on spending Rs 20,000 in a calendar month. The cardholder needs to enroll in order to avail this benefit.
- Spend-Based Renewal Fee Waiver: On spending Rs 1,50,000, you get a spend-based waiver on a renewal fee of Rs 4,500 in the previous year and also get a 50 percent waiver on the renewal fee on annual spending between Rs 90,000 to 1,49,999 in the previous year.
- Fuel Surcharge Waiver: On your fuel transactions at HPCL fuel stations exceeding Rs. 5,000, cardholders will get a fuel surcharge waiver of 1%, fuel surcharge applicable on all transactions at all non-HPCL stations. And on fuel transactions subject to a minimum value of Rs 10, 1% fuel surcharge is applicable at BPCL and IOCL fuel stations and on your fuel transactions all other fuel stations, 2.5% fuel surcharge is applicable.
- Reward Points: Get 1 Membership Reward Point per Rs. 50 spent, this is not applicable on fuel transactions, utility bills, and insurance categories.
Check, American Express Gold Charge Card
2. American Express Membership Rewards Credit Card Fees and Charges:
- The Joining fee charges are- Rs. 1,000+ Taxes
- The Annual fee or Renewal fee charges are- Rs. 4,500 + Taxes.
- The Cash withdrawal fee, Rs. 250 or 3.5% of the withdrawn amount.
- On all the Foreign currency transaction, you have to pay forex fee of 3.5% on the transacted amount. This fee is to be paid on all international transactions done using this credit card.
- An interest rate of 3.5% per month (42% annually) is applicable on the due amount on the card if the cardholder is unable to clear all the dues by the payment due date.
3. American Express Membership Rewards Credit Card Eligibility Criteria to Apply:
The common eligibility criteria and the documents required to apply for American Express Membership Rewards Credit Card are as follows:
- The age limit for applying for this card is 18 years of age.
- The cardholder should be an Indian resident and an excellent credit score i.e., 750 with savings or current account in India.
- The cardholder should be either through salary or self-employment with atleast Rs. 6 lakh and above per annum.
- For Identity Proof documents you need are Aadhar Card, Voters Id, PAN Card, Passport, Driving License.
- For Address Proof, Utility bills of the latest months, Aadhar Card, Passport, and Ration card are the needed documents.
- For Income Proof, you need to submit the latest bank statement as a salaried person, and can also, submit your company ID card, if you are salaried, and if you are self-employed, you should submit your latest ITR.
4. How to Apply for American Express Membership Rewards Credit Card:
For American Express Membership Rewards Credit Card you can apply either online or offline. To apply for the offline mode you have to visit the near by bank branch and fill the physical credit card application form and provide the necessary documents.
And to apply online mode, you need to visit the official website of the bank i.e., www.americanexpress.com and search and select the Membership Rewards Credit Card and fulfill the application with required information.
Also Check, American Express Platinum Travel Credit Card
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