American Express Platinum Credit Card

American Express Platinum Credit Card is a popular offering by American Express, and it is a premier credit card that comes with a host of travel benefits. It makes your life easier during travel and provides special discounts on major hotel chains, airlines, and more.

You receive numerous exclusive privileges, including access to unlimited domestic and international airport lounges, among many other special rights. It is one of the two charge cards currently offered by American Express. In addition to travel benefits, a unique feature of this card is that it has no pre-set spending limit.

You also receive fast-track upgrades to elite levels in some of the most premium hotel loyalty programs, and if you ever need assistance in planning your travel, AmEx’s 24×7 Concierge service is always at your disposal.

• Joining Fee- Rs. 60,000 (plus applicable taxes)
• Renewal Fee- Rs. 60,000 (plus applicable taxes)
• Best Suited For- Travel | Shopping
• Reward Type- Reward Points
• Welcome Benefits- SeleQtions, Taj, and Vivanta Hotels’ vouchers worth Rs. 45,000.

Rewards and Benefits

• Movie & Dining- Complimentary membership to EazyDiner and a discount of up to 50% at 1,800 premium restaurants across India.
• Rewards Rate- 1 MR on every Rs. 40, 3X Rewards on all international spends, and 5X Rewards Points on transactions via the AmEx Reward Multiplier portal.
• Reward Redemption- Membership Rewards Points can be redeemed against dining, travel, and accessories on AmEx’s Membership Rewards Redemption portal.
• Travel- Access to over 1,200 airport lounges across over 130 countries, 24×7 global Platinum Concierge Service, travel-related insurance benefits including a life cover of Rs. 5 crores.
• Golf- Complimentary access to premium domestic and international golf courses
• Domestic Lounge Access- Unlimited access to domestic partner lounges in India.
• International Lounge Access- Access to over 1,200 Airport Lounges globally including American Express Lounges, Priority Pass Lounges and Delta Lounges.
• Insurance Benefits- Personal air accident coverage worth Rs. 5 crore, cover of Rs. 50,000 for loss of check-in Baggage/ passport/ document, overseas medical insurance of USD 50,000 for the first 7 days of the trip.
• Zero Liability Protection- Cardholders will not be considered liable for any fraudulent transaction if loss of card is reported within 72 hours. Maximum liability of up to Rs. 1,000 on reporting after 3 days.

Fees & Charges

• Spend based Waiver- N/A
• Rewards Redemption Fee- Nil
• Foreign Currency Markup- 3.5% of the transaction amount
• Interest Rates- 3.5% per month
• Fuel Surcharge- Fuel surcharge is waived at all HPCL fuel stations for purchases up to Rs. 5,000, 1% surcharge applicable on BPCL and IOCL stations and 2.5% surcharge applicable at all other fuel stations.
• Cash Advance Charge- 3.5% of the advanced amount subject to a minimum charge of Rs. 250.
• Add-on Card Fee- Nil up to 2 add-on cards

Product Details

• Welcome gift voucher amount: INR 45,000. 1 Membership Reward (MR) per rupee spent, excluding fuel, utilities, and insurance transactions.
• Up to 5 Membership Reward points per rupee spent on fuel.
• 3X Membership Reward points for spending abroad.
• 5X Membership Reward points on AmEx Rewards Multiplier portal. No pre-set spending limit.
• 24×7 global Concierge service.
• Travel-related insurance benefits, including personal air accident death coverage of INR 5 crore.
• Up to 50% discount at over 1800 premium restaurants in India and complimentary EazyDiner Prime membership.
• Access to over 1,200 airport lounges worldwide, including Centurion Lounges and American Express Lounges, at a global level.

American Express Platinum Card Features and Benefits

Being one of the most premium AmEx credit cards in the Indian market, the Platinum Card comes with several exciting benefits across various categories, including travel, rewards programs, and more. To understand all its features and benefits in detail, please refer to the following information:

Welcome Benefits

Get stay vouchers from Taj, SeleQtions, and Vivanta Hotels worth Rs. 45,000 if you spend Rs. 50,000 in the first two months of card issuance.

Travel Benefits

• Unlimited domestic lounge access to partner lounges in India.
• Access to over 1,200 plus airport lounges globally including Centurion Lounges, American Express Lounges, Priority Pass Lounges, Escape Lounges, Delta Sky Club Lounges.
• Fast track upgrade to higher tier membership at leading hotel loyalty programs around the world including Taj Reimagined Epicure, Marriott Bonvoy Gold Elite Status, Hertz Gold Plus Rewards, Radisson Rewards Gold
• Status, and Hilton Honors Gold Status without having to fulfill the usually required criteria.
• 25% off at Taj, SeleQtions, and Vivanta Hotels.
• Exclusive deals on some of the world’s finest airlines like Emirates, Qatar Airways, Virgin Atlantic, British Airways, Air France, KLM, Delta Airlines, and many others.
• Complimentary benefits worth Rs. 37,000 at 5-star hotels including guaranteed 4 PM late check-out, room upgrades at check-in (if available), daily breakfast for two, WiFi, or a special amenity at each property worth USD 100.
• 24×7 global concierge service for assistance regarding hotel/flight bookings.
• Travel-related insurance benefits including a life cover worth Rs. 5 crores.
• Pre or post-departure fine dining up to USD 100 per person on overnight Platinum Luxury Rail Journeys in Europe.

Movie and Dining Benefits

• Up to 50% discount on the dining bills at over 1800 premium restaurants across India.
• Preferential reservation, complimentary drinks, and a 24×7 VIP helpline.
• Golf Benefits
• American Express Platinum Credit Card entitles you to complimentary access to over 30 golf courses in India and 50+ golf courses across the world.

Fuel Surcharge Waiver

• No fuel surcharge at HPCL fuel stations for transactions up to Rs. 5,000 (1% surcharge applicable thereafter).
• 1% fuel surcharge at BPCL and IOCL fuel stations (subject to a minimum surcharge of Rs. 10).
• 2.5% surcharge at all other fuel stations (subject to a minimum surcharge of Rs. 10).

Insurance Benefits

• Travel related insurance benefits as under-

• Protection against loss, or damage of tangible goods within 90 days of purchase, due to fire, burglary, or natural calamities.
• Wallet protection including fraud protection worth Rs. 15 Lacs
• Emergency Hotel and Travel Assistance up to Rs. 2 Lacs and emergency cash in India.

Zero Liability Protection

Cardmember shall not be liable for any fraudulent transaction if loss of the card is reported within 3 working days, otherwise, the liability of the cardmember is limited to Rs. 1,000.

American Express Platinum Card Rewards

1 Membership Rewards Point for every Rs. 40 spent using the card.
3X Membership Rewards Points on all spends outside India.
5X Membership Rewards Points on purchasing from the Reward Multiplier portal.
1 Membership Reward Point on every Rs. 100 spent on fuel, and 4 additional Membership Reward Points on every Rs. 100 spent on fuel with a maximum cap of 5,000 membership Rewards per month.
You don’t earn any reward points on utility bill payments and spends on insurance categories.

Reward Redemption

• The Platinum Card from AmEx allows you to purchase e-vouchers from AmEx’s online shopping portal that can be redeemed on popular e-commerce websites like Flipkart. It also offers the option to use Membership Rewards points for offline INR purchases and for credit card bill payments under the Cash + Points program.
• The Membership Rewards points can be transferred to other airline and hotel loyalty programs such as Asia Miles, British Airways Executive Club, Club Vistara, Emirates Skywards, Etihad Guest, Finest Hotels & Resorts, InterMiles, Qatar Privilege Club, Singapore KrisFlyer, Virgin Points, and Marriott Bonvoy. It also includes Hilton Honors.
• You can book hotels, flights, and experiences on AmEx’s online travel website and even make payments for taxes and fees using your Membership Rewards points.
• In the Membership Rewards catalog, you can redeem points for various products, including electronics, household items, and travel and entertainment items such as dining experiences.

American Express Platinum Card Fees & Charges

• Annual Fee: The annual membership fee for the American Express Platinum Card is INR 60,000 per year.
• Interest Rate: In the event of non-full payment of the American Express Platinum Credit Card bill by the due date, an interest rate of 3.5% per month is charged on the outstanding amount on the card.
• Cash Advance Fee: A cash advance fee of 3.5% is levied on the withdrawal amount made through the American Express ATM.
• Foreign Currency Mark-up: A foreign currency mark-up fee of 3.5% is applied to all foreign currency transactions made with the American Express Platinum Card.
• Please note that the fees and rates mentioned above are based on the details provided and may be subject to change.

Advantages of American Express Platinum Card

• Benefits of American Express Travel Card: Although it is not a travel-specific credit card, the American Express Travel Card is filled with numerous travel benefits for its members worldwide. These benefits include unlimited access to domestic and international airport lounges, premium hotel loyalty memberships, such as Taj InnerCircle Silver Tier, Marriott Bonvoy Gold Elite Status, Hertz Gold Plus Rewards, Radisson Rewards Gold Status, and Hilton Honors Gold Status, discounted rates at partner 5-star hotels, comprehensive travel-related insurance coverage, 24×7 concierge service for assistance with flight/hotel bookings, and many other travel benefits.
• Dining Benefits: The American Express Platinum Card provides up to a 50% discount on the bill at partner restaurants. You are also entitled to priority reservations and exclusive access to complimentary beverages at select partner restaurants.
• Reward Multiplier for 5x Reward Points: Through the American Express Rewards Multiplier portal, you can earn 5x membership reward points on purchases made with your American Express Platinum Card.
• Insurance Benefits: Another significant feature of the American Express Platinum Credit Card is that you are eligible for extensive insurance coverage, including personal air accident insurance up to INR 5 crore and USD 50,000 in foreign medical coverage.

Drawbacks of the American Express Platinum Card

• High Annual Fee: The American Express Platinum Card comes with a membership fee of INR 60,000 per year, which is the highest in the Indian credit card market.
• No Expense-Based Waivers: There are no expense-based waivers available on the annual fee of the American Express Platinum Card. You will need to pay the annual fee in rupees. The fee for the American Express Platinum Card is INR 60,000.
• Reward Rate is not significantly high for a super-premium credit card: The American Express Platinum Credit Card earns you 1 membership reward point per rupee spent. The maximum monetary value of 1 membership reward point is approximately INR 0.50 – effectively yielding a maximum reward rate of 1.25%. This reward rate is not significantly high for a super-premium credit card that comes with a membership fee of INR 60,000 per year. However, as mentioned earlier, the card offers attractive welcome/milestone benefits and travel benefits, compensating for the lack of a high reward rate.

American Express Platinum Card Eligibility Criteria

To be eligible for the American Express Platinum credit card:

• Your age must be 18 years or above.
• Salaried applicants must have a minimum annual income of Rs. 25,00,000 and self-employed applicants must have a minimum annual income of Rs. 15,00,000 (and their company must have been trading for at least 12 months).
• You must be a resident of any of the following cities- Delhi/NCR, Mumbai, Bangalore, Chennai, Pune, Hyderabad, Jaipur, Kolkata, Indore, Coimbatore, Chandigarh/Tricity, Ahmedabad, Surat, Vadodra, Bhopal, Bhubaneshwar, Ernakulam, Vijaywada, Lucknow, Ludhiana, Nagpur, Nasik, Trivandrum, Mysuru, Cuttack & Vizag.

How to apply for American Express Platinum Card

You can apply for an American Express Platinum credit card through their official website. You simply need to select the Platinum card from the list of cards and fill out a form with your personal and financial details, and submit it online. To verify the information you provide, you will also need to submit identification proof, address proof, and income proof. If your application is approved, the card will be sent to your address.

American Express Platinum Card Customer Care

American Express has a dedicated customer care helpline for its Platinum cardholders. You may dial 1800 419 1255 (toll-free), 1800 180 1255, 0124-2801444, or 0124-4650244 in case you need any assistance or to report the loss of a card.

Conclusion:

The American Express Platinum card is one of the super-premium or luxury credit cards available in the Indian market. It comes with a high annual fee of INR 60,000 and directly competes with Axis Bank’s Burgundy Private credit card in terms of both benefits and annual fees.

The Platinum card is particularly suitable for frequent travelers who don’t want to compromise on their premium travel needs, as it rewards you with privileges on some of the highest-end properties in India and abroad. It provides you access to unlimited value lounges worldwide under programs like Priority Pass, Delta Sky Club Lounge, Escape Lounge, and more.

You also receive fast-track upgrades to high tiers of premium hotel loyalty programs. Apart from the benefits it offers, what sets this card apart is the brand value of American Express and the metallic construction of the card, which provides you with an unparalleled premium experience.