AMEX
Membership Rewards Credit Card
Good fit when rewards, fees, and forex fit your spend pattern — ₹4,500 annual fee.
Top reasons to choose this card
- ₹20K spend → additional 1,000 MEMBERSHIP REWARDS
- ₹4.5K spend → 5,000 MEMBERSHIP REWARDS
- ₹1.5L fee waiver
Suggested comparison
Compare with HSBC India TravelOne Visa →
Choose another card to compare →
Annual fee ₹4,500 per year
Forex markup 3.5% high
Lounge access 0 no lounge
Rewards / ₹100 2 pts ₹100
The catch Forex markup is 3.5%, so this can get expensive for frequent international spends.
- Welcome benefit timing may vary
- Fee waiver available
- Welcome benefit listed
- Annual fee known
- Forex markup known
At a glance
Snapshot · usage · fitFast facts
- Annual fee
- ₹4,500 higher than 84 of 112 cards
- Joining fee
- ₹1,000
- Forex markup
- 3.5% the standard rate (matches 66 cards)
- Lounge access
- No complimentary lounge access
- Reward rate
- 2 pts / ₹100
Not a fit for
- No domestic lounge access
Still worth it?
Evidence-backed snapshotGood fit if
- Fee waiver applies at ₹1,50,000 annual spend.
- Use this when the base earn rate is enough after checking caps, exclusions, and redemption terms.
Verify before applying
- Annual fee known
- Fee waiver available
- Forex markup known
- No lounge access
- Welcome benefit listed
- Welcome benefit timing may vary
- Monthly interest known
- Welcome benefit timing and claim process.
- Annual fee waiver terms and eligible spend exclusions.
- Issuer fees, GST, finance charges, and late-payment terms.
- Reward terms to verify: base earn is 2 points per ₹100. Some reward rules exclude fuel spends. Still verify remaining caps.
Next best move
Is this good for lounge access?
No lounge access.
Is this good for international spends?
Forex markup is 3.5%, so frequent international spends may be costly.
Is the annual fee easy to recover?
Fee waiver applies at ₹1,50,000 annual spend. Verify eligible spend exclusions before counting on it.
When do welcome benefits arrive?
A welcome benefit is listed. Included items: Reward points equivalent to joining fee (4,000 pts). Timing may depend on joining fee payment, card activation, first eligible transaction, or issuer processing.
Spending requirements
Spend gates · caps · milestone thresholdsRequirementAmountPeriodUnlocksRealismStrength
Annual fee waiver₹1,50,000yearAnnual fee waiverreasonablestrong
Milestone spend₹20,000yearMilestone benefittrivialstrong
Watch outs
Before choosing this card- Forex markup is 3.5%, so frequent international spends may be costly.
Reward reality
Point value · limits · exclusionsVerified value₹0.333 per pointGold Collection (18k)
Exclusions/no-earnSome reward rules exclude fuel spends.
Reward rules
Structured earn rates · eligibility · caps when they bindScopeRateEligibilityLimit
General spend2 pts / ₹100Earn 1 Membership Rewards Point per ₹50 except fuel, insurance, utilities, ca…—
Estimated usage
Example usage at this monthly spend
₹
- At this monthly spend, you'd earn: ~1,000 pts/month (base earn · uses base/general earn rate)
- Fee waiver achievable at this spend
- Forex cost ~₹1,750 per ₹50k international spend
Illustrative only, using current base rates and snapshot data.
Benefits & charges
Side-by-side factsBenefits
Lounge Access
- Domestic (cardholder)
- No complimentary lounge access
- International (cardholder)
- Not included
Rewards
- Points per ₹100
- 2 pts · verified 20 Jun 2026 value depends on redemption
- Headline point value
- ₹0.33 per Reward Point (Gold Collection (18k)) · verified 20 Jun 2026 Operator-verified headline rate — full channel grid in Redemption value.
Redemption value
- You earn
- Reward Points
- Gold Collection (18k)
- ₹0.33 per Reward Point · verified 20 Jun 2026
- Gold Collection (24k)
- ₹0.33 per Reward Point · verified 20 Jun 2026
Fees & charges
Fees
- Monthly interest rate
- 3.5% / month
- Annual fee
- ₹4,500
- Joining fee
- ₹1,000 · verified 20 Jun 2026
- Fee waiver spend
- ₹1,50,000 · verified 20 Jun 2026 Below catalog median waiver (₹2,00,000 vs ₹1,50,000).
- Interest-free period
- Up to 48 days
International Use
- Forex markup
- 3.5%
2 sources agree · verify issuer terms before applying
Where to verify
- CardInsider
- Operator-verified anchor
- Issuer site (verify current terms) (opens in new tab)
- Product tier
- Premium
Spend milestones
Progression rewardsUnlock up to 6,000 MEMBERSHIP REWARDS through spend milestones
- ₹4.5K spend → 5,000 MEMBERSHIP REWARDS
- ₹20K spend → additional 1,000 MEMBERSHIP REWARDS
Fuel Benefits
At the pump- 1% fuel surcharge waived on transactions of ₹5,000+.
- Fuel transactions do not earn reward points.
Annual fee break-even math
When does this card pay for itself ₹6.8L Break-even using base rewards to offset ₹4,500 fee
Base rewards only: at base earn rates, you need roughly ₹6.8L in yearly spend to offset the ₹4,500 annual fee.
Compare with similar cards
Similar tier · similar benefitsThe fine print
Caps · exclusions · sources · last refreshThese spends do not earn reward points.
Financial
- Fuel
- Insurance premiums
- EMI
- Cash transactions
Utilities
- Utilities
- Cashback redemption: 1 CashBack = ₹1 — Statement balance redemption
- Annual fee: ₹4,500.
- Forex markup currently listed at 3.5%.
- No complimentary lounge access.