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Amex Introduces SmartEarn Credit Card for Millennials

Manoj Adlakha, CEO – American Express Banking Corp, said that at American Express, they recognize that millennials display clear and unique lifestyle preferences – they are digital natives who are optimistic, impatient, passionate – and busy.

Amex Introduces SmartEarn Credit Card for Millennials

American Express, the world’s largest card issuer by purchase volume has launched the all-new SmartEarnTM Credit Card. The card, created for millennials in India, is stacked with value benefits. The highlight is enhanced gratification through accelerated rewards on everyday transactions by millennials: such as ridesharing, movie-booking, and other online purchases. Along with rich benefits, the SmartEarnTM Credit Card reflects the premium brand heritage of American Express. The card offers fast and easy ways to redeem rewards, with the ability to pay using points when shopping, using points to pay statement credit, or redeeming them for gift cards at merchants of choice. The card carries an annual fee of INR 495, along with Rs 500 cash-back in the first year in the form of a statement credit.  

 

Manoj Adlakha, CEO – American Express Banking Corp, said that at American Express, they recognize that millennials display clear and unique lifestyle preferences – they are digital natives who are optimistic, impatient, passionate – and busy. They are savvy shoppers who aim to derive maximum value in their financial transactions. The Smart Earn Credit Card is bundled with offerings that cater to millennial needs. Not only will it enable Cardmembers to earn every time they spend, through a rich blend of rewards and cashback but will also provide them with the powerful Brand benefits of American Express - Service, Security and Trust, he said

 

Key product benefits:

 

  • Accelerated earn-rate on rewards on everyday spends

  • 10X Membership Rewards Points for every Rs. 50 spent* on transacting on Flipkart and Uber

  • 5X Membership Rewards Points for every Rs. 50 spent* on transacting on Amazon, Myntra, Jabong, PVR, Swiggy, BookMyShow, Grofers, BigBazaar and many more

  •  Earn one membership rewards point for every Rs. 50 spent*

  • Recover the annual fee of Rs. 495 by getting a Rs. 500 cashback as Welcome Gift on eligible spends of Rs 10,000 in the first 90 days of card membership.

  • Renewal fee waiver from the second year onwards on spending Rs 40,000 and above, in the previous Card membership year

  • Other privileges:

  • Flexibility and convenience to pay Credit Card bill, fully or partially - convert spends into easy monthly installments with American Express EMI

  • Fuel Convenience Fee Waiver***

  • 24X7 Card Related Assistance

  • Dispute Resolution

  • Zero Lost Card Liability

  •  Emergency Card Replacement

  • One supplementary American Express SmartEarnT credit card at no additional cost

  • Contactless Payment

 

Millennials in India are recognized as being confident and expressive, with a desire for faster gratification. They are keen to experience new things, live more premium lifestyles and buy international brands. They are both optimistic and comfortable to change – being open to new opportunities and experiences, with a predominantly positive mindset.

 

According to a survey by Deloitte, travel and seeing the world was at the top of the list (57 percent) of millennial aspirations. A recent survey conducted by American Express re-enforces millennial engagement with travel and holidays. Commenting on this, Manoj added that with the powerful backing of American Express, they believe Indian millennials will become even more confident to take on and discover the world around them. Through benefits such as emergency card replacement anywhere in the world, to 24x7 card-related assistance on call, they offer their Cardmembers unparalleled trust and security. American Express has been recently voted to be the most trusted credit card brand in India for the fifth year in a row.

 


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