MgO-based magnetic tunnel junctions with up to 230% tunnel magnetoresistance ratio at room temperature and up to 345% at 13 K are prepared. The lower electrode is either exchange-biased or free, while the top electrode is free or an exchanged-biased artificial ferrimagnet, respectively. Additionally, a pseudo-spin-valve ͑hard-soft switching͒ design with two unpinned electrodes is used. Inelastic electron-tunneling spectra for each of these systems show a strong variation in the zero-bias anomaly with a reduced peak for some of the junctions. At voltages around 200 mV additional structures are found, which are not known from junctions with lower magneto resistance, such as alumina-based junctions. We discuss the spectra for the different electrode types and compare our findings with respect to barrier material and magnetoresistance ratio.