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American Express Membership Rewards Credit Card VS HDFC Bank Millennia Credit Card

A detailed, side-by-side look at 2 leading credit cards. Analyze the features that matter most to you and make an informed choice.
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Last updated: 30 June 2026

Both American Express Membership Rewards Credit Card and HDFC Bank Millennia Credit Card suit shopping-focused spenders, but they earn and cost differently. American Express Membership Rewards Credit Card costs ₹1,000 + GST and earns 1 Membership Rewards Point for every ₹50 spent. 2X points on AmEx Rewards Multiplier portal. HDFC Bank Millennia Credit Card costs ₹1,000 + GST and earns 5% cashback on select online merchants & 1% on other eligible online/offline spends. American Express Membership Rewards Credit Card also brings 4,000 bonus MR points on ₹15k spend in 90 days; plus 2,000 referral bonus MR points on ₹5k spend, while HDFC Bank Millennia Credit Card counters with complimentary airport lounge access voucher upon achieving quarterly spend milestones. If travel spending matters more, go with American Express Membership Rewards Credit Card; if dining is the priority, HDFC Bank Millennia Credit Card fits better.

American Express Membership Rewards Credit Card
American Express Membership Rewards Credit Card
HDFC Bank Millennia Credit Card
HDFC Bank Millennia Credit Card

Fees & Charges

Joining Fee₹1,000 + GST
Joining Fee₹1,000 + GST
Renewal Fee₹4,500 + GST
Renewal Fee₹1,000 + GST
Spend Based Waiver100% annual fee waiver on ₹1.5L+ annual spend; 50% waiver on ₹90k-₹1.49L annual spend.
Spend Based WaiverRenewal fee waived on spending ₹1,00,000 or more in the preceding 12 months.
Foreign Transaction Fees3.5% plus Service Tax.
Foreign Transaction Fees3.5% + GST on international spends.
Interest Rate (APR)3.5% Per Month (Annually 42%).
Interest Rate (APR)3.75% per month (45% annually).

Rewards & Benefits

Welcome Bonus4,000 bonus MR points on ₹15k spend in 90 days; plus 2,000 referral bonus MR points on ₹5k spend.
Welcome BonusReceive 1,000 bonus CashPoints upon successful realization of the joining fee.
Rewards RateEarn 1 Membership Rewards Point for every ₹50 spent. 2X points on AmEx Rewards Multiplier portal.
Rewards RateEarn 5% cashback on select online merchants & 1% on other eligible online/offline spends.
Reward TypeReward Points
Reward TypeCashback
Reward Redemption FeeNil.
Reward Redemption Fee₹50 + GST for cash redemption, ₹99 + GST for other requests (effective Aug 2024).

Travel & Lifestyle

Domestic Lounge Access
Domestic Lounge AccessComplimentary airport lounge access voucher upon achieving quarterly spend milestones.
International Lounge Access
International Lounge AccessNot Applicable
Travel BenefitsTransfer Membership Rewards points to loyalty partners like Marriott for hotel stays, potentially yielding high value.
Travel BenefitsRedeem CashPoints for up to 50% of flight & hotel bookings via SmartBuy Rewards Portal.
Movie Benefits
Movie Benefits5% cashback on BookMyShow and Sony LIV, capped at 1,000 CashPoints per cycle.
Dining BenefitsEnjoy exciting discounts of up to 20% every time you dine at select restaurants.
Dining Benefits10% additional discount on Swiggy Dineout, flat ₹200 off (min ₹2000), twice monthly.
Golf Benefits
Golf BenefitsNot Applicable
Fuel Surcharge Waiver0% Fuel Convenience Fee at HPCL for transactions less than ₹5,000. 1% fee for ₹5,000+.
Fuel Surcharge Waiver1% waiver for transactions ₹400-₹5,000, max ₹250 per statement cycle.

Security & Other

Insurance BenefitsAccess to Amex health insurance benefits in partnership with ICICI Lombard.
Insurance BenefitsZero liability on fraudulent transactions if lost card is reported immediately.
Cash Advance Charges3.5% of amount withdrawn, minimum ₹250.
Cash Advance Charges2.5% of transaction amount, minimum fee of ₹500.
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Best valueHigher costHighlights apply to Joining Fee and Renewal Fee only.

American Express Membership Rewards Credit Card

HDFC Bank Millennia Credit Card

Who is it for?

The American Express Membership Rewards Credit Card is an entry-level card designed for maximizing rewards. It offers unique monthly milestone benefits, allowing cardholders to earn significant bonus points. Points never expire and can be redeemed for high-value vouchers or transferred to travel partners like Marriott, making it ideal for those who value flexible and premium reward redemptions.

Who is it for?

The HDFC Bank Millennia Credit Card is an entry-level cashback card primarily designed for young professionals and millennials. It offers a significant 5% cashback on popular online merchants and 1% on other eligible spends. Users can enjoy attractive gift vouchers for achieving quarterly spend milestones and a renewal fee waiver based on annual spending. This card is positioned to help users save on lifestyle expenses and build a strong credit profile through versatile reward redemptions.

Pros

Key benefits and features.

High-value reward points: Membership Rewards points never expire and offer excellent value when transferred to travel partners like Marriott Bonvoy.

Generous monthly milestones: Cardholders can earn up to 2,000 bonus MR points monthly by meeting specific spend and usage criteria.

Flexible redemption options: Points can be redeemed for premium vouchers from the Gold Collection or transferred to various loyalty programs.

Spend-based fee waiver: The annual renewal fee can be fully waived by achieving a reasonable annual spending threshold of ₹1.5 Lakhs.

Strong customer support: Benefits from American Express's renowned 24/7 customer assistance and dispute resolution services.

Pros

Key benefits and features.

High 5% cashback on popular partner merchants including Myntra, Amazon.

Renewal fee waiver on spending ₹1 Lakh in the card anniversary year.

Provides substantial savings for digital-savvy consumers on daily spends.

Cons

Key drawbacks and limitations.

Limited points earning: Points are not earned on essential categories like fuel, insurance, and utilities, reducing overall rewards.

High foreign currency markup: A 3.5% markup plus service tax makes international transactions expensive compared to other cards.

No complimentary lounge access: The card does not offer any domestic or international airport lounge access, a common perk on similar cards.

High renewal fee: The annual fee of ₹4,500 plus taxes is substantial if the spend-based waiver criteria are not met.

Specific EMI exclusions: Points are not earned on EMIs selected at merchant websites or terminals, only on Amex SafeKey/post-purchase conversions.

Cons

Key drawbacks and limitations.

Earns a lower 1% cashback on offline/online spends at non-partner merchants.

Accelerated 5% cashback is capped at 1,000 CashPoints per statement cycle.

A minimum of 500 CashPoints are required to redeem against statement balance.

How We Compare These Cards

Every comparison on CardsForYou is built from the same verified data set we use across the site - joining and renewal fees, reward rates, forex markup, lounge access, and insurance benefits - sourced directly from each issuer and refreshed regularly. We highlight the lower-cost option on fees automatically, but "best" always depends on your own spending pattern: a card that wins on annual fee may lose on reward rate for a heavy spender, and vice versa. Use the table above alongside your own typical monthly spend to judge real value, not just the headline numbers.

Ready to Choose?

Based on your comparison, select the credit card that best matches your spending habits and financial goals.
Apply for American Express Membership Rewards Credit Card(opens in new tab)Apply for HDFC Bank Millennia Credit Card(opens in new tab)