The American Express SmartEarn Credit Card is a premium travel and lifestyle credit card launched in 2022. It offers reward points on everyday spending along with benefits like complimentary airport lounge access and fuel surcharge waiver. In this article, we will review the key features, benefits, fees, eligibility criteria, and other details of the American Express SmartEarn Credit Card. Read on to find out if this card is a good fit for your lifestyle and spending needs.
About American Express SmartEarn Credit Card
The American Express SmartEarn Credit Card is a charge card aimed at frequent travelers and shoppers. It has been designed to provide maximum rewards on everyday spending. Some of the key things to know about this credit card are:
Features and Benefits
- Earn 1.5 Reward Points for every ₹100 spent
- Welcome bonus of 10,000 Reward Points on meeting spending requirement
- Bonus reward points on spending at partner brands like BigBasket, Swiggy, etc.
- Redeem reward points for statement credits, online vouchers, and more
- Complimentary access to domestic airport lounges
- Fuel surcharge waiver across all petrol pumps
- Insurance coverage like air accident cover, fraud liability protection, etc.
Eligibility and Application Process
- The minimum age to apply is 21 years
- You need to have a good credit score to get approval
- High-income proof is needed as per American Express eligibility
- You can apply online or offline through an application form
- Documentation required includes PAN card, address proof, identity proof, and income documents
Fees
- Joining fee of ₹1,495 + GST
- Renewal fee of ₹1,495 + GST from 2nd year
- No foreign transaction fee
- Surcharges apply at fuel stations, railway counters, etc.
Credit Limit
- The credit limit is assigned based on your eligibility, income, credit score, etc.
- The minimum credit limit is ₹1 lakh and it can go up to ₹5 lakh or higher
Pros of American Express SmartEarn Credit Card
Let’s look at some of the major benefits and advantages of the American Express SmartEarn Credit Card:
Welcome Bonus
- Get a welcome bonus of 10,000 reward points on meeting the spending requirement within 90 days
- Spend ₹1.5 lakhs within 90 days of card issuance
- Welcome bonus worth ₹5,000 that can be redeemed for statement credits
Earn Reward Points
- Earn 1.5 reward points for every ₹100 spent on the card
- Points earned are credited to your account on the first statement after the transaction
- No cap on reward points earned
Bonus Reward Points on Partner Brands
- Get 5X rewards at BigBasket and Swiggy
- 3X rewards at MakeMyTrip, BookMyShow, Amazon and more
- Bonus reward points enhance your earnings on daily spends
Redeem Reward Points for Vouchers
- Redeem for statement credits, online gift vouchers, and more
- Large redemption catalog – vouchers from Amazon, Flipkart, Myntra, etc.
- Redeem from 2,500 reward points with no limits on maximum redemption
Complimentary Airport Lounge Access
- Get complimentary access to domestic airport lounges in India
- 2 complimentary visits per quarter for the primary cardholder
- Each visit allows access for the primary cardholder and 1 guest
- Available at airports like Delhi, Mumbai, Bangalore, and others
Fuel Surcharge Waiver
- Get a fuel surcharge waiver on fuel transactions
- Saves 1% surcharge per transaction at petrol pumps
- Applicable on transactions between ₹10 to ₹4000
- Valid on all petrol pumps in India
Insurance Coverage
- Air Accident Cover up to ₹1 crore
- Credit Shield Covers up to ₹50 lakhs
- Fraud liability protection up to ₹1 lakh
- Other covers like loss of checked baggage, etc.
Cons of American Express SmartEarn Credit Card
While the SmartEarn Credit Card comes with attractive rewards and benefits, there are some drawbacks to consider:
Annual Fee
- There is an annual fee of ₹1,495 + GST
- Renewal fee applicable from 2nd year onwards
- May not be suitable for low spenders
High-Interest Rate
- Interest rate of 43.49% per annum
- Among the highest interest rates for premium cards
- Not ideal for revolving credit card bills
Limited Acceptance
- Not accepted at all merchants and outlets
- Usually not taken at small shops, government utilities, etc.
- Preferred to carry a Visa or Mastercard as a backup
FAQs
H3: What is the minimum income eligibility for the American Express SmartEarn Credit Card?
The minimum annual income eligibility for American Express SmartEarn Credit Card is ₹6 lakhs. Applicants should have a strong credit score in addition to meeting the income criteria.
H3: What is the maximum credit limit on this card?
The maximum credit limit is usually around ₹5 lakhs for the American Express SmartEarn Credit Card. However, it can vary based on your eligibility and profile. High-income applicants can get a higher limit.
H3: How do I redeem my reward points?
Reward points can be easily redeemed for statement credits, gift vouchers from popular brands, and more. You can redeem from as low as 2,500 reward points. There is no cap on maximum redemption.
H3: Is there any fee for airport lounge visits with this card?
No, the American Express SmartEarn Credit Card offers 2 complimentary domestic airport lounge visits per quarter. The user just has to present this credit card at the lounge to avail of free access.
H3: Can I use reward points to book flights or hotels?
No, reward points cannot be directly used to book travel. You can redeem points for statement credits or vouchers and use them to pay for flight/hotel bookings.
Verdict
The American Express SmartEarn Credit Card can be a great fit if you have a high monthly expenditure and spend a lot on dining, groceries, online shopping, travel bookings, etc. The high reward rate of 1.5 points per ₹100 spent adds up quickly. Complimentary airport lounge visits and other rewards make the annual fee worth it for frequent travelers. However, the high interest rate and limited acceptance could be potential downsides. Check your eligibility and apply only if your profile meets American Express card approval criteria.
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