American Express® Platinum Reserve Credit Card: Low Reward Rate but Premium Hotel Stay Benefits

• 1 Membership Rewards® Point for every Rs. 50 spent
• Fuel, insurance, utilities, cash transactions and EMI conversion at the point of sale excluded from the rewards program
• For redemption against products, vouchers or travel bookings through American Express’ Rewards Catalogue, 1 MR Point = Rs. 0.25
• For transferring MR Points into airlines and hotel loyalty programs, the rates given below will be applicable:

Note: You can also use your Membership Rewards® Points to pay for your card charges.

Value-back Comparison: American Express® Platinum Reserve Vs. HDFC Infinia Vs. ICICI Emeralde Private

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.

• 12 complimentary domestic airport lounge visits per year, max. 3 per quarter
• Complimentary membership to Priority Pass, with 2 international airport lounge access in a year

Click here for the list of lounges.

For a card that charges a high annual fee of Rs. 10,000, only 12 complimentary domestic lounge visits and 2 international lounge visits in a year is below expectations, particularly considering that many premium cards provide unlimited lounge visits. However, in terms of international lounge benefit, the card has still seen an improvement as it only provided a Priority Pass membership with no free international lounge visits. The two free visits are applicable after 1^st May 2024. Overall, the lounge benefit on this card is disappointing.

With American Express Platinum Reserve Credit Card, you get complimentary membership to:

• 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)

The Accor Plus membership has been added from 1^st May 2024 and entitles you to discounted stays, late check-out, access to health club and sports facilities and many more benefits at participating Accor properties. The Taj Epicure membership provides benefits at eligible Taj Group properties including complimentary stay, complimentary meal, discount on food and beverages, etc.

With EazyDiner Prime membership, you get guaranteed 25% discount at select restaurants and bars, bonus EazyPoints on joining, 2X EazyPoints earning which can later be redeemed to pay for meals.

Complimentary memberships are a strong point on this American Express credit card. Taj Epicure and Accor Plus memberships make it a valuable option for frequent travellers who prefer premium stays. Previously, the card only offered Taj membership, thus limiting the options for the users. Addition of Accor Plus membership will open up more avenues for travellers to save.

Welcome Bonus

• 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

Monthly Milestone

• Complimentary movie or online shopping voucher worth Rs. 1,000 on monthly spends of Rs. 50,000 on enrolment. The e-voucher can be redeemed on Flipkart, BookMyShow, Shoppers Stop, Myntra, Big Basket, PVR and MakeMyTrip

Though 11,000 bonus reward points look like a substantial benefit, their redemption value comes down to Rs. 2,750 when redeemed (at a value of 1 MR Point = Rs. 0.25). In a market where welcome benefits on most cards fully compensate for the joining fee charged with some even surpassing it, a bonus equivalent to around 25% of the fee does not make a cut.

The milestone benefits are good, even for moderate spenders, who can put Rs. 50,000 or more on their card every month. Since many popular everyday brands are Flipkart, BigBasket and BookMyShow are included in the list, users can make significant savings through this feature.

Annual Fee Waiver: 100% annual fee waiver on spending Rs. 10 Lakh in the preceding year.

Golf Privileges: 2 complimentary golf rounds in a month (Max. 24 in a year) on monthly spends of Rs. 50,000.

Dining Discount: Up to 20% off on dining at select restaurants

Concierge Service: Dedicated concierge service to fulfill your requests along with 24×7 card-related assistance

Fuel Convenience Fee Waiver: You can save on fuel convenience fee as per the below details:

• 0% convenience fee on fuel purchases less than Rs. 5,000 at HPCL petrol pumps
• 1% convenience fee on fuel purchases of Rs. 5,000 and above at HPCL petrol pumps

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 a 1 MR point per Rs. 50 spent across all categories, along with 3X rewards on select brands via the Rewards Multiplier. 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.

Consider American Express® Platinum Reserve 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

Consider other options if:

• You are looking for a card with an excellent reward rate
• You want to save on your flights in the form of point-to-miles conversion, free ticket, etc.
• You travel abroad quite often and would like to get benefits like international lounge visits or low forex mark-up fee