American Express Smartearn Credit Card
Rewards & Benefits
Welcome Benefits
Welcome Benefit: Users will get Rs 500 cashback as a welcome gift on eligible spends of Rs 10,000 in the first 90 days of payment of the annual fee.
Milestone Benefits
Milestone Benefit: Users can earn vouchers worth INR 500 upon reaching the spend milestones of INR 1.20 lacs, INR 1.80 lacs, and INR 2.40 lacs, respectively in a card membership year.
Cashback Rate
The value of 1 RP=0.50 Paise.
10X Membership rewards on transactions on Zomato, Ajio, Nykaa, BookMyShow, Uber and many more. Effective cashback rate: 5%.
5X Membership rewards on transactions on Amazon and Paytm Wallet. Effective cashback rate: 2.5%.
1 Membership rewards point for every Rs. 50 spent except for spends on Fuel, Insurance, Utilites, Cash Transactions and EMI conversion at Point of Sale. Effective cashback rate: 0.50%.
Movie Benefits
None.
Dining Benefits
Reward System: The value of 1 RP=0.50 Paise. 10X Membership rewards on transactions on Zomato, Ajio, Nykaa, BookMyShow, Uber and many more. Effective cashback rate: 5%.
Other Benefits
The renewal fee is waived on eligible spends of Rs 40,000 and above in the previous year of card membership. Additional benefits: Users will get access to offers and discounts from Amex's partner brands, 24/7 card assistance, and purchase protection.
Lounge Access
Rewards & Benefits
Welcome Benefits
Welcome Benefit: Users will get Rs 500 cashback as a welcome gift on eligible spends of Rs 10,000 in the first 90 days of payment of the annual fee.
Milestone Benefits
Milestone Benefit: Users can earn vouchers worth INR 500 upon reaching the spend milestones of INR 1.20 lacs, INR 1.80 lacs, and INR 2.40 lacs, respectively in a card membership year.
Cashback Rate
The value of 1 RP=0.50 Paise.
10X Membership rewards on transactions on Zomato, Ajio, Nykaa, BookMyShow, Uber and many more. Effective cashback rate: 5%.
5X Membership rewards on transactions on Amazon and Paytm Wallet. Effective cashback rate: 2.5%.
1 Membership rewards point for every Rs. 50 spent except for spends on Fuel, Insurance, Utilites, Cash Transactions and EMI conversion at Point of Sale. Effective cashback rate: 0.50%.
Movie Benefits
None.
Dining Benefits
Reward System: The value of 1 RP=0.50 Paise. 10X Membership rewards on transactions on Zomato, Ajio, Nykaa, BookMyShow, Uber and many more. Effective cashback rate: 5%.
Other Benefits
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Lounge Access
Fees & Charges
Joining Fee
N.A.(Not Applicable)
Annual Fee
Rs. 495 plus applicable taxes.
Cash Advance Fee
Cash advance fee: 2.5% of the amount withdrawn, minimum Rs. 500.
Interest rate
Interest rate: 3.5% per month (42% p.a.) on outstanding balance if the minimum due amount is not paid by the due date.
Late Payment Fee
Late payment fee: Rs. 100 for every payment made after the due date.
Foreign Currency Transactions Fee
Foreign currency markup fee: 3.5% of the transaction amount for international transactions.
Other Fees
Cheque bouncing charges: Rs. 500 per cheque. | Over-limit fee: Rs. 500 if you exceed your credit limit.
Fees & Charges
Joining Fee
N.A.(Not Applicable)
Annual Fee
Rs. 495 plus applicable taxes.
Cash Advance Fee
2.5% or ?500 whichever is higher
Interest rate
Interest rate: 3.5% per month (42% p.a.) on outstanding balance if the minimum due amount is not paid by the due date.
Late Payment Fee
Late payment fee: Rs. 100 for every payment made after the due date.
Foreign Currency Transactions Fee
Foreign currency markup fee: 3.5% of the transaction amount for international transactions.
Other Fees
Cheque bouncing charges: Rs. 500 per cheque. | Over-limit fee: Rs. 500 if you exceed your credit limit.
Special Features
None
Eligibility Criteria
Salaried Individuals:
Minimum age: 18 years
Minimum annual income: INR 4.5 lakhs per annum
Employment: Be employed with a recognized organization for at least the past 2 years
Self-Employed Individuals:
Minimum age: 18 years
Minimum annual income: INR 6 lakhs per annum
Business establishment: Must have a valid business establishment for at least the past 3 years
Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
Visit the American Express India website: Choose the SmartEarn Credit Card.
Click on "Apply Now": Fill out the online application form with your personal and financial information.
Documents: Upload scanned copies of required documents like PAN card, address proof, etc.
Review and submit: Review your application thoroughly before submitting it.
Decision: American Express will review your application and let you know their decision within a few days.
Card receipt: If approved, you'll receive your card within a few weeks.
Account Opening and Procedure
The American Express SmartEarn Credit Card is an entry-level offering from Amex, targeted towards first-time Amex cardholders or those seeking a simple rewards program with a low annual fee. It's ideal for budget-conscious individuals who primarily shop on Flipkart, Uber, or Myntra, and can benefit from the welcome bonus and annual fee waiver. However, the low base rewards rate, limited bonus categories, and lack of travel perks might not appeal to everyone, especially frequent travelers or those seeking higher rewards potential.
The American Express SmartEarn Credit Card is an entry-level offering from Amex, targeted towards first-time Amex cardholders or those seeking a simple rewards program with a low annual fee. It's ideal for budget-conscious individuals who primarily shop on Flipkart, Uber, or Myntra, and can benefit from the welcome bonus and annual fee waiver. However, the low base rewards rate, limited bonus categories, and lack of travel perks might not appeal to everyone, especially frequent travelers or those seeking higher rewards potential.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai