The American Express SmartEarn Credit Card was introduced by American Express specifically for Millennials within India. The credit card reward points programme is amazing such that it makes this card one of the most used in the country. If you love shopping from online or offline established brands, this is your go-to credit card.
This is an affordable card for beginners who want to gain reward points off their spending online and offline in an accelerated way. Making payments on brands or websites such as Flipkart, Uber, Amazon and so many more allows you to tap into the fast-track membership reward points whereas you can also earn from normal retail transactions from your local stores within and outside the country.
The joining fee for the American Express SmartEarn Credit Card is pegged at Rs. 495 plus taxes and an annual renewal fee of Rs. 495 plus taxes. Both the joining and annual renewal fees can be waived once you spend Rs. 40,000 or more in the previous year. It is a great option for anyone young and wanting to possess an American Express SmartEarn Credit Card for the value it gives you on shopping. It has a zero-liability feature that allows users to relax even when their credit card is stolen or lost, once it is reported to the bank for fear of unauthorised debit.
Some small stores do not accept the use of American Express Cards because it requires a special machine that accepts 15-digit cards while other EDC machines accept Visa and Mastercard which has 16-digit card numbers. Other than that, it is an amazing credit card to use for your day-to-day shopping and online payments.
American Express SmartEarn Credit Card – Main Highlights
| Purpose | Shopping & Rewards |
| Joining/ Renewal Fee | Rs. 495 + GST |
| Eligibility | · Resident or Non-Resident Indian
Employed Age: 18 Years and Above Annual Income: Rs. 4.5 lakhs Credit Score: 700 or more (No Defaults) Self-Employed Age: 18 Years and Above Annual Income: Rs. 6 lakhs and above Credit Score: 700 or more (No Defaults) |
| Credit Card Type | Reward Points |
| Benefits |
|
American Express SmartEarn Credit Card – Features and Benefits
The American Express SmartEarn Credit Card is a fully packed card that offers you amazing reward points on all transactions. With an affordable annual joining fee of Rs. 495 and a renewal fee of the same amount (Rs. 495+GST) including taxes, there are a lot of benefits that come with owning this card.
It is highly recommended for young adults looking for their first credit card. Reward points can be redeemed against products or vouchers from the reward catalogues provided by the bank and its partner brands. You will also enjoy welcome bonus cashback and vouchers when you hit your spending milestones. Some of the main benefits include the following:
- You can enjoy up to 10 times reward points on every purchase you make using your American Express SmartEarn Credit Card. There are 10X reward points on every Rs 50 you spend buying stuff online and offline as long as you pay with your card on Amazon, Uber, and Flipkart.
- With this AMEX SmartEarn Credit Card, you also get 5 times membership reward points on Swiggy, BookMyShow, PVR, Grofers, Myntra, Big Bazaar, Paytm Wallet, Jabong, and many more.
- You get 1 membership reward point for every transaction in the amount of Rs. 50 on other categories which do not apply to insurance, cash transactions, fuel, EMI transactions at the point of sale, and utilities.
Joining and Renewal Charge
To get the American Express SmartEarn Credit Card, you will be charged Rs. 495 + applicable taxes, you also get to pay an annual renewal fee which is charged at the same amount (Rs. 495+GST) the following year. This is very affordable for youngsters looking to begin the credit card journey.
Eligibility
To be eligible for the American Express SmartEarn Credit Card, you must be an Indian citizen, 18 years old with a savings or current account in any Indian or International Bank. You also need to be salaried or self-employed with a good credit score of 700 and above without any previous credit default.
Salaried applicants need an annual income of Rs. 4.5 Lakhs and Rs. 6 Lakhs for self-employed with a company that has been trading for more than 12 months. You also need to be a citizen of any of these Indian cities: Mumbai, Bangalore, Pune, Delhi/NCR, Lucknow, Ludhiana, Nagpur, Mysuru, Chennai, Hyderabad, Ahmedabad, Surat, Vadodara, Indore, Jaipur, Coimbatore, Chandigarh, Trivandrum and Nasik.
Welcome Benefit
The AMEX SmartEarn Credit Card comes with a welcome bonus which you get to enjoy when you spend Rs. 10,000 or more in the first 3 months after paying the joining fee. You will get Rs. 500 cashback credited to your statement as a welcome gift. All transactions are eligible for this bonus except cash advances, express cash transactions, drafts, balance transfers, and fees. It is a great way to spend and save.
Movie and Dining
There is a 5X reward point benefit for cardholders who spend on BookMyShow and Swiggy, these rewards are capped at a combined 250 points maximum for all partner brands. This means you can’t get more than 250 reward points across all the partner brands offering 5X benefits.
Milestone Benefit / Renewal Charge Waiver
As a card user, once you spend up to Rs. 40,000 or more you qualify for an annual membership charge waiver. This means that the next year’s card will be free of charge.
Spend-Based Reward
You can earn up to Rs. 1,500 of vouchers through the spend-based benefit when you spend Rs.2.40 Lakhs within the year of card issuance using your American Express SmartEarn credit card.
- When you spend up to Rs. 1.20 Lakhs within your card anniversary year, you enjoy a Rs. 500 gift voucher to use at partner brands.
- Hit a milestone of Rs. 1.80 Lakhs in spending and you will get another Rs. 500 voucher to spend.
- There’s also an extra Rs. 500 voucher when you spend up to 2.40 Lakhs using your credit card for online and offline transactions.
You can use all the vouchers to shop from top brands such as Flipkart, PVR, Amazon, Lifestyle, Uber, Shoppers Stop, Costa Coffee, MakeMyTrip, and Myntra.
Fuel Surcharge Waiver
The AMEX SmartEarn Credit Card offers you a 1% waiver on fuel surcharge at Hindustan Petroleum stations across India, this is only applicable to transactions from Rs. 5,000 and above.
Required Documents
You are required to prepare the following documents before you start your credit card application. This will enable the American Express Bank to process your application
- Proof of Address: Driver’s License, Utility bills, Passport, Voter ID Card, Aadhar Card, or any approved ID.
- Proof of Identification: PAN Card, Aadhar Card, Driver’s License, Voter ID Card, or any government-approved ID.
- Proof of Income: Salary slips (3 months), Bank Statement (3 months) or ITR (for self-employed applicants).
Additional Features of IDFC FIRST Millennia Credit Card
- Foreign Exchange Rates: Using the AMEX SmartEarn Credit Card for foreign currency transactions will attract 3.5% of the total amount for each international payment.
- Interest Rates: There is a 3.5% monthly interest rate on the credit card.
- Cash Withdrawal Fees: You will be charged 3.5% on every amount withdrawn which is subject to a minimum of Rs. 250 per withdrawal depending on which is higher.
- Interest-free period: There is up to 48 days of interest-free period subject to the American Express Bank terms and conditions.
- EMI: You can convert your purchases into EMI with a low-interest rate of 16% per annum at the point of sale and zero foreclosure fees.
- Add-on Card Fee: The credit card offers cardholders the ability to add 1 complimentary card at the rate of Rs. 250 per card.
- Zero Liability: In case of theft or lost cards, the American Express SmartEarn Credit Card offers zero lost card liability if your card is reported missing within working 3 days. You only get Rs. 1,000 maximum liability cover if you report after 3 days.
Conclusion
In conclusion, the American Express SmartEarn is a base-level credit card for beginners who want the first-time experience of having one. It is a great option for shopping enthusiasts who love shopping online and also yearn for rewards.
The AMEX SmartEarn credit card offers amazing benefits and gift vouchers including reward points for every online purchase made via the top partner brands such as Amazon, Flipkart, Uber, Myntra, and many more.
You also get to enjoy fee waivers, fuel benefits, cashback and so much more. It is a good option for anyone looking for a credit card with a low annual fee, earning rewards more than cashback, welcome benefits, and an annual card renewal fee waiver.