American Express Membership Rewards Credit Card vs Mayura Credit Card: Which Credit Card Wins in 2026?

Quick Verdict

• For everyday spending and rewards, the Mayura Credit Card ⓘ offers a significantly higher base reward rate.
• In travel benefits and lounge access, the Mayura Credit Card ⓘ also leads with unlimited domestic and eight international lounge visits per year.
• The American Express Membership Rewards Credit Card ⓘ is cheaper to hold with lower annual and joining fees.
• Choose the American Express card if you want a low-fee starter card with modest rewards and dining discounts; pick the Mayura card if you prioritize premium travel perks and higher returns on dining, travel, and online spends.

Side by Side

Rewards Compared

On a spend of Rs 10,000, the American Express Membership Rewards Credit Card ⓘ returns Rs 50 in reward value at its base rate of 0.5%. Its reward structure is simple, with a reward multiplier of up to 5X points available at partner brands, making it appealing for selective shopping and dining discounts. However, outside these partners, the returns remain modest.

In contrast, the Mayura Credit Card ⓘ offers a base reward rate of 1.5%, which translates into Rs 150 on Rs 10,000 spent, triple that of the Amex card. More importantly, it provides a 3% effective return on dining, travel, and online spends, yielding Rs 300 on Rs 10,000 in these categories. This makes the Mayura card considerably more rewarding for frequent travellers and online shoppers who can maximise category spends.

Fees Compared

The American Express Membership Rewards Credit Card ⓘ has a joining fee of Rs 1,000 and an annual fee of Rs 4,500, significantly lower than the Mayura card’s Rs 5,999 joining and annual fees each. Neither card offers fee waivers on minimum spends, so these fees are upfront costs annually.

To justify the Rs 1,499 extra annual fee of the Mayura card over the Amex card purely from rewards, a cardholder would need to spend approximately Rs 1,49,900 more annually due to the higher reward rate. Given that the Mayura card breaks even at about Rs 4,00,000 spend at base rates, this makes it suitable for higher spenders who can leverage the premium benefits and lounges to offset fees.

Which One Should You Pick

Choose the American Express Membership Rewards Credit Card ⓘ if you are starting your credit card journey or prefer a low-fee card with decent rewards and dining privileges. It suits those who spend moderately on shopping and want fuel surcharge waivers and occasional partner discounts without worrying about high fees. However, skip this card if you want premium travel perks or higher rewards on diverse spends.

The Mayura Credit Card ⓘ is ideal for premium users who travel frequently, value unlimited domestic lounge access and eight international lounge visits yearly, and spend heavily on dining, travel, and online shopping. Its lower forex markup of 1.5% also makes it attractive for international spenders. Avoid this card if you spend less than Rs 4,00,000 annually or do not frequently use lounge benefits, as the fees may outweigh the rewards.

What to Check Before You Apply

• Verify if the reward multipliers or category bonuses have any caps or exclusions that might limit your earning potential.
• Confirm the redemption value and ease of converting points into travel, cashback, or shopping vouchers to ensure your rewards are worthwhile.
• Understand that neither card waives fees based on spending, so factor the annual costs into your budget.
• Beware of the forex markup differences: 3.5% on the Amex card ⓘ is more expensive abroad compared to 1.5% on the Mayura card ⓘ.
• Check which airports and lounges accept the Mayura card’s unlimited and international lounge access to make sure they align with your travel patterns.

FAQ