Most premium credit cards in India currently feature a good reward rate. Even cards that do not offer a good earning rate, at least try to compensate for the same with a 1:1 redemption ratio. However, in case of American Express Platinum Reserve, both earning and redemption rates are subpar, affecting the overall value one could get out of this card. Where cards like HDFC Infinia and ICICI Emeralde Private are providing a reward rate of 3.33% and 3% respectively, Platinum Reserve’s 0.5% return falls significantly short, pushing it farther in the premium card queue.
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American Express
American Express® Platinum Reserveˢᵐ Credit Card
Travel
Lounge Access
1st Year Fee: ₹10,000* Plus Applicable Taxes
Travel
Free Taj Epicure & Accor Plus memberships
Lounge Access
12 domestic lounge visits yearly
Dining
Up to 20% off at partner restaurants
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About American Express® Platinum ReserveSM Credit Card
American Express® Platinum ReserveSM Credit Card is one of the premium credit cards offered by American Express. Its features and benefits span across a variety of spending categories, thus allowing the credit cardholders to avail a decent value-back on their overall spends.
Accor Plus membership has been added, which could be quite helpful for travellers. The card already offers Taj Epicure membership, providing benefits with Taj Group properties, along with Accor Plus membership, thus allowing the frequent travellers to save on their hotel stays. Moreover, both domestic and international lounge access with a Priority Pass membership further lets consumers travel in comfort.
The card’s monthly milestone benefit of Rs. 1,000 enhances its overall value-back, despite the Rs. 50,000 spending requirement. For high spenders, meeting this threshold shouldn’t be a challenge, thus allowing them to earn benefits worth Rs. 12,000 annually. These monthly spends will also unlock the golf benefits for the cardholders.
However, the card’s poor reward rate is a major drawback. Cardholders would be able to get good additional benefits, but the core value-back through rewards would be much lower compared to what you could get with other premium cards like HDFC Diners Club Black, ICICI Emeralde Private, or even with certain lower-fee options like Axis Atlas.
Rewards Program & Travel Benefits
Rewards Program
- 1 Membership Rewards® Point for every Rs. 50 spent1
- 5X Membership Rewards® Points on top brands through RewardXcelerator
- 3X Membership Rewards® Points on 50+ brands via Reward Multiplier
Reward Redemption
- For redemption against products, vouchers or travel bookings through American Express’ Rewards Catalogue, 1 MR Point = Rs. 0.25
Other Features & Benefits
Complimentary Memberships
- Taj Epicure (worth Rs. 25,000)
- Accor Plus Silver Tier (given on reaching 10 night stays or 2,000 status points)
- EazyDiner Prime (worth Rs. 2,395)
Welcome Benefit
- 11,000 bonus Membership Rewards Points on the payment of first year’s annual fee and on spending Rs. 30,000 within 90 days of card membership
Milestone Benefit
- Complimentary movie or online shopping voucher worth Rs. 1,000 on monthly spends of Rs. 50,000 on enrollment3
American Express® Platinum ReserveSM Credit Card: Fees & Charges
| Fee Type | Amount |
|---|---|
| Joining Fee | Rs. 10,000 + Applicable Taxes |
| Annual Fee | Rs. 10,000 + Applicable Taxes |
| Finance Charges | 3.5% - 3.99% p.m. (42% - 47.88% p.a.) |
| Late Payment Fee | 30% of Min. Payment Due (Min. of Rs. 500 & Max. of Rs. 1,000) |
American Express® Platinum Reserve Vs. HDFC Infinia Vs. ICICI Emeralde Private
| Category | Amount (in Rs.) | Points (Platinum Reserve) | Points (Infinia) | Points (Emeralde Private) |
|---|---|---|---|---|
| Apparel | 20,000 | 400 | 666 | 600 |
| Groceries | 25,000 | 500 | 833 | 750 |
| Travel | 20,000 | 400 | 666 | 600 |
| Dining | 10,000 | 200 | 333 | 300 |
| Entertainment | 5,000 | 100 | 166 | 150 |
| Other | 20,000 | 400 | 666 | 600 |
| Total | 1,00,000 | 2,000 | 3,330 | 3,000 |
Things to Know Before you apply
Get this card if:
You are a high-spender and can easily reach the monthly spend threshold of Rs. 50,000
Complimentary hotel membership with discounted/free stays is a valuable feature for you
You already own a credit card that offers a good reward rate on your preferred spending categories
Eligibility Criteria
Minimum Age Requirement: 18 years
Occupation: Salaried or Self-employed
Minimum Income: Rs. 6 LPA
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What do we like about this card?
American Express® Platinum Reserve is an all-rounder premium card that covers almost all major categories, including travel, lifestyle, dining, and online shopping. The card offers 1 MR point per Rs. 50 spent across all categories, along with 3X rewards on select brands via the Rewards Multiplier. It also offers domestic & international lounge access, complimentary hotel memberships, and movies or online shopping vouchers as milestone benefit. However, competing against highly rewarding cards like HDFC Infinia or ICICI Private Emeralde, this card struggles to offer the best value-back in terms of rewards, lounge access, etc.
Pros
- Complimentary hotel & dining memberships
- Complimentary movies/online shopping voucher worth Rs. 1,000 every month
- Up to 24 complimentary golf rounds every year
- 12 complimentary domestic lounge visits every year
Cons
- High annual fee of Rs. 10,000 plus applicable taxes
- Low reward rate of 1 point per Rs. 40 spent
- High forex markup fee of 3.5%
- Only 2 international lounge visits per year
Frequently Asked Questions
Everything you need to know about this credit card
Yes, being a premium credit card it offers purchase protection. You can get a refund for any item that is stolen due to burglary or damages or breaks due to fire, earthquake, flood, storm, cyclone, etc., within 60 days of purchase.
Yes, you can convert your purchases of Rs. 5,000 or above into easy EMI. To avail this facility at the time of purchase, you can ask the merchant to convert the entire transaction into EMI.
No, you do not earn any points on fuel spends. However, you can avail fuel convenience fee waiver on your fuel expenses at HPCL petrol pumps. You can get a 0% and 1% convenience fee on your fuel transactions of up to Rs. 5,000 and above Rs. 5,000, respectively.
You can redeem your Membership Rewards Points earned via this credit card against a variety of categories, such as travel, dining, accessories and more by logging in to your rewards account. Apart from this, you can also use your earned reward points to pay for your card charges, which is an added advantage.
Yes, you can claim the lost card liability by reporting the loss or fraud within 3 working days to the American Express customer care. If the fraud is reported beyond 3 working days, then you will get a maximum liability of Rs. 1,000. Therefore, it is important to report the fraud as soon as possible to make the most out of this benefit.
You can apply for this credit card online through the official website of American Express. All you need to do is look for the required card as per its eligibility and fill out the application form. You are also required to submit relevant documents for verification. The bank will then verify your details and process your request.
Footnotes
- Fuel, insurance, utilities, cash transactions and EMI conversion at the point of sale excluded from the rewards program.
- Complimentary access to Centurion Lounges in Delhi and Mumbai have been discontinued.
- The e-voucher can be redeemed on Flipkart, BookMyShow, Shoppers Stop, Myntra, Big Basket, PVR and MakeMyTrip.
Click here to know More Terms and Conditions
Shruti Sharma
Shruti Sharma is a skilled content writer with a passion for simplifying personal finance for consumers. Specializing in credit cards and financial planning, she offers valuable insights that empower individuals to make informed financial choices. Through her writing, she shares practical tips and guides readers through the nuances of credit card usage.
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