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American Express · American Express

American Express Membership Rewards Credit Card

Membership Rewards points transferable to airline and hotel partners

2.1/5
Best for point maximisers who transfer to airline programmes
At a glance
Joining fee
₹1,000
Annual fee
₹4,500 + GST
Effective return
2.5%
Forex markup
3.50%
Lounge access
0 domestic · 0 international
Min. income
₹6,00,000/yr
Min. credit score
750+
Check your eligibility

On American Express’s secure site. Checking eligibility is a soft enquiry.

Our verdict

Worth holding as a second card rather than a primary one. Acceptance is the constraint, not the value — but where it is accepted, the transfer partners beat most bank point programmes.

How we scored it

Credsir rating
2.1/5
Rewards
2.5
Fees
3.2
Perks
0.0
Accessibility
3.3

Rewards carry 40% of the weight, perks 25%, fees 20% and accessibility 15%. The score is computed from the fields above, not assigned. See the full method on our methodology page.

What works, what does not

What works
  • Membership Rewards is among the most flexible point currencies in India
  • Strong milestone bonuses for consistent monthly spending
  • Excellent customer service and dispute handling
What does not
  • Amex acceptance in India remains patchy outside metros and large merchants
  • No lounge access on this tier
  • No fuel surcharge waiver

The full cost

ChargeAmount
Joining fee₹1,000
Annual fee₹4,500
GST on annual fee (18%)₹810
Total annual cost₹5,310
Fee waiver thresholdNo waiver offered
Forex markup3.50% + GST on the markup
Fuel surcharge waiverNo
Finance charge if you revolveTypically 3.5%/month — about 42% a year

Data as of 15 Aug 2026Source: americanexpress.comPending issuer verification

Worth knowing.The 18% GST on the annual fee is the number most comparisons quietly omit. A ₹2,500 card actually costs ₹2,950 a year. Factor that in before deciding whether the rewards clear the bar.

Is the fee worth it for you?

Put in your actual spending. The calculator works out the net value after the fee and its GST — the number that decides whether this card pays you or costs you.

₹1,000₹50,000₹50 L
01.5%15
₹0₹2,500₹1 L
₹0₹2,500₹5 L
₹0₹0₹2 L
Net value per year (ongoing)
₹6,050
  • Rewards + perks75%
  • Fee25%
Annual spend
₹6,00,000
Rewards earned
₹9,000
Annual fee incl. 18% GST
₹2,950
Net value in year 1
₹8,550
Effective return on spend
1.01%
Monthly spend to break even
₹16,389

What this means.A genuine 1.01% return. Remember the GST on the annual fee — most comparisons forget it, and it is 18% on top of the sticker fee.

Compare with

Worth knowing.Effective reward rate is our own blended estimate for a typical spend mix — not the accelerated rate an issuer advertises on one category. Annual fees are shown before the 18% GST that is charged on top. Verify current terms on the issuer’s site before applying; card terms change without notice.