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American Express SmartEarn Credit Card

Product Details
Credit Card Name : 

American Express SmartEarn Credit Card

Bank Name :

American Express

Type :

Rewards Credit Card

Interest Rate : 

3.5% per month (42% p.a.)

Eligibility :

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

American Express SmartEarn Credit Card
Pros
  • Earn Accelerated Membership Rewards® points when you spend on Amazon, Flipkart, Uber, BookMyShow, and many more. 

  • WELCOME BONUS: Rs. 500 cashback as a Welcome Gift on eligible spends of Rs. 10,000 in the first 90 days of membership. 

  • Earn vouchers worth ₹500 upon reaching the spend milestones of ₹1.20 lacs, ₹1.80 lacs, and ₹2.40 lacs respectively in a Cardmembership year.

  • Get a renewal fee waiver on eligible spends of Rs.40,000 and above in the previous year of Cardmembership. 

  • International acceptance: Amex cards are widely accepted abroad, making them convenient for travellers.

  • Additional benefits: You get access to offers and discounts from Amex's partner brands, 24/7 card assistance, and purchase protection.

Cons
  • Limited reward categories: You only earn bonus points on a few select categories, and even for those, the cap is low. This could make the card less appealing for those who spend differently.

  • No lounge access: Unlike some other Amex cards, SmartEarn doesn't offer complimentary airport lounge access.

  • Foreign currency markup: If you use the card for international transactions, you'll be charged a 3.5% foreign currency markup fee.

  • Not ideal for all expenses: You don't earn any points on fuel, insurance, utility payments, or cash transactions.

  • Limited acceptance in India: Some merchants in India may not accept Amex cards.

Pros & Cons
Welcome Benefits

Rs. 500 cashback as a Welcome Gift on eligible spends1 of Rs. 10,000 in the first 90 days of CardmembershipAnnual fee

Annual Fee of Rs. 495 plus applicable taxes

Rewards System
  • 10X Membership Rewards: Transact on Zomato, Ajio, Nykaa, BookMyShow, Uber and many more and get 10X rewards for every Rs. 50 spent

  • 5X Membership Rewards: Transact on Amazon and Paytm Wallet and get 5X rewards for every Rs. 50 spent

  • Earn 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: 0.5% to 1%

  • 1 RP=0.50 Paise. 

International Forex Markup

Up to: 3.5% 

Welcome Benefits and Reward System
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

Benefits


  • 10x Membership Rewards® points on online shopping at Flipkart and Amazon and 5x points on Myntra, Jabong, Big Bazaar, Grofers, Paytm Wallet: Supercharge your rewards for online purchases at popular Indian brands.

  • 1 Membership Rewards® point for every ₹50 spent on other categories: Earn points on all your eligible purchases, no matter how small.

  • Complimentary accident insurance: Get up to ₹2 lakh accidental death insurance and up to ₹1 lakh hospitalisation expense cover.

Speical Feature, Eligibility and Benefits
How to apply for Credit Card?
  1. Visit the American Express India website: Choose the SmartEarn Credit Card.

  2. Click on "Apply Now": Fill out the online application form with your personal and financial information.

  3. Documents: Upload scanned copies of required documents like PAN card, address proof, etc.

  4. Review and submit: Review your application thoroughly before submitting it.

  5. Decision: American Express will review your application and let you know their decision within a few days.

  6. Card receipt: If approved, you'll receive your card within a few weeks.

Account Opening and Procedure
American Express SmartEarn Credit Card

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

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

Product Review
Fees & Charges
  • Annual Fee: Rs. 495 plus applicable taxes. 

  • 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: Rs. 100 for every payment made after the due date.

  • Foreign currency markup fee: 3.5% of the transaction amount for international transactions.

  • Cash advance fee: 2.5% of the amount withdrawn, minimum Rs. 500.

  • Cheque bouncing charges: Rs. 500 per cheque.

  • Over-limit fee: Rs. 500 if you exceed your credit limit.

Fuel Surcharge

0% Convenience fee on fuel purchases at HPCL for transactions less than Rs. 5,000 and 1% Convenience fee on fuel purchases per transaction is applicable for all transactions of Rs. 5,000 and above.

Billing Cycle

30 Days

Fees & Charges
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