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 the case of American Express Platinum Reserve, both earning and redemption rates are subpar, affecting the overall value one could get via this card. On the one hand, cards like HDFC Infinia and ICICI Emeralde Private offer a reward rate of 3.33% and 3%, respectively. On the other hand, Platinum Reserve’s 0.5% return falls significantly short in comparison, thus pushing it farther down the premium card queue.
American Express
American Express® Platinum ReserveSM Credit Card
Travel
Lounge Access
1st Year Fee: â‚ą10,000* Plus Applicable Taxes
Travel
Free Taj Epicure & Accor Plus memberships
Lounge Access
Up to 14 free airport lounge visits a year
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. This card comes with complimentary hotel memberships with exclusive discounts and offers on stay and dining, reward points to airmiles conversion option, complimentary airport lounge and golf access across the world, along with bonus shopping and movie vouchers as milestone benefits. These features and benefits span across a variety of spending categories, thus allowing the credit card users to avail a decent value-back on their overall spends. However, let’s find out whether or not this card can compete against other contenders, like HDFC Diners Club Black and Axis Magnus, and stand out in the premium card segment.
Rewards Program
- Reward Rate: 1 Membership Rewards® Point for every Rs. 50 spent (3X rewards on select brands via Rewards Multiplier)
- Exclusions: Spends made on fuel, insurance, utilities, cash transactions and EMI conversion at POS are excluded from the rewards program
- Redemption Value: 1 Membership Rewards® Point = Rs. 0.25
- Redemption Options: Rewards are redeemable against products, vouchers and travel bookings via American Express’ Rewards Catalogue or transferable into airlines and hotel loyalty programs. Cardholders can also use their Membership Rewards® Points to pay for their card charges.
Other Features & Benefits
Welcome Bonus
11,000 bonus Membership Rewards® Points on spending Rs. 30,000 within 90 days of card membership and paying the 1st year’s annual fee
Complimentary Memberships
American Express cardholders get the following complimentary memberships on enrollment:Â
- Taj Epicure membership worth Rs. 10,000
- Accor Plus Silver tier membership (given on reaching 2,000 status points or 10 night stays)
- EazyDiner Prime membership worth Rs. 3,000
American Express® Platinum ReserveSM Credit Card: Fees & Charges
| Particulars | Amount |
|---|---|
| Joining/Renewal Fee | Rs. 10,000 + Applicable taxes |
| Finance Charges | 3.5% p.m. or 42% p.a. (In case of default: 3.99% p.m. or 47.88% p.a.) |
| Cash Advance Fee | 3.5% of the withdrawn cash amount, subject to a min. of Rs. 250 |
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 to maximise your savings
Complimentary hotel memberships 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
Other Similar Cards:
HDFC Infinia Credit Card Metal Edition
HDFC Diners Club Black Credit Card
ICICI Emeralde Private Metal Credit Card
Axis Magnus Credit Card
Paisabazaar Review
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 shopping. The card offers the option to earn 3X rewards on select brands via the Rewards Multiplier. Complimentary hotel memberships, accompanied with domestic & international lounge access, golf rounds, movies or online shopping vouchers as milestone benefits are some of the major benefits offered to the cardholders.
Pros
- Movie or online shopping vouchers worth Rs. 12,000 every year
- Complimentary memberships of top hotels
- Cardholders can use reward points to pay for card charges too, in addition to travel bookings, dining, vouchers, and other products
Cons
- Low rewards earning rate for a premium range card
- Spend-based condition applicable on golf access benefit
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
- Applicable only after enrollment to the monthly voucher benefit
Click here to know More Terms and Conditions
Lepakshi Phogat
Lepakshi is a content writer specialising in personal finance and credit cards. She translates complex financial concepts into practical advice, helping readers make informed financial decisions. Whether it is helping them choose the right credit card or offering strategies to build their credit score, she writes to make personal finance less intimidating and more empowering.
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