American Express Platinum Travel Credit Card
Utilities, Travel, Rewards, and Shopping
Annual Fee: Rs.
5000
plus 18% GST
- About the card
- Rewards Program
- Other Benefits
- Spend Maximization
- Eligibility
- Application Process
- Credofly Review
The American Express Platinum Travel Credit Card is positioned as a premium travel card in India, aimed at frequent travelers who appreciate luxury travel benefits, hotel perks, and a rewarding points system. It’s known for its milestone-based rewards and exclusive travel privileges.
- Rewards Program:
- Base Rewards: Earn 1 Membership Rewards (MR) point for every ₹50 spent across all eligible categories. Points do not expire as long as the card is active.
- Milestone Rewards:
- 15,000 bonus MR points on spending ₹1.9 lakh in a year.
- Additional 25,000 bonus MR points on spending ₹4 lakh in a year, plus a Taj Hotels voucher worth ₹10,000.
- Travel Benefits:
- Airport Lounge Access: Complimentary access to domestic lounges with 8 visits per year (2 per quarter).
- Priority Pass: Complimentary membership with the US$99 annual fee waived, but no complimentary visits; you pay for access per visit.
- Hotel Benefits: Taj Experiences E-Gift Card worth ₹10,000 on hitting the ₹4 lakh milestone.
- Welcome Offer:
- 10,000 MR points on activation and spending ₹15,000 within 90 days.
- Insurance:
- Travel Insurance: Includes air accident cover, lost card liability, and overseas medical insurance.
- Other Benefits:
- Annual Fee: ₹3,500 + GST for the first year, ₹5,000 + GST from the second year onwards. No fee waiver based on spending.
- No Foreign Transaction Fee: A significant advantage for international travel.
- Dining: Up to 20% off at select restaurants.
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How It Might Fit Into Your Travel and Spending Habits:
- Travel Frequency: If you travel often, both domestically and internationally, the lounge access and no foreign transaction fee can save money and add comfort to your journeys.
- Luxury Hotel Stays: The Taj voucher on hitting spending milestones is a significant perk if you stay at these hotels or can use the voucher for dining or other experiences.
- Spending Milestones:
- To maximize rewards, you need to spend ₹1.9 lakh for the first bonus and ₹4 lakh for the second, plus the additional Taj voucher. If you can hit these, the card’s rewards are very lucrative.
- However, if your spending is below these thresholds, the annual fee might not be justifiable.
- International Transactions: With no foreign transaction fee, this card is perfect for international shopping or travel expenses.
- Rewards Utilization: Since points don’t expire, you can save them for significant redemptions like high-value flights or hotel bookings, but you’ll need a strategy for using them effectively.
- Lifestyle: If you enjoy luxury dining or experiences, the dining discounts and the possibility of using points for such experiences could be appealing.
Considerations:
- Annual Fee: At ₹5,000 from the second year, you need to ensure the benefits you’ll use (travel perks, rewards) exceed this cost.
- Lounge Access: If you’re not a frequent enough flyer, the limited complimentary visits might not be beneficial.
- Acceptance: Check the acceptance of AmEx in areas where you frequently shop or travel to ensure it’s practical for your daily use.
Eligibility:
- Age: Typically, you need to be between 18 to 70 years old.
- Income:
- Salaried: A minimum monthly income of around ₹1 lakh might be required, though this can vary.
- Self-Employed: An ITR showing an annual income of over ₹12 lakh is generally expected.
- Credit Score: A high credit score, ideally above 750, significantly increases your chances of approval due to the card’s premium nature.
Application Process:
- Online Application:
- American Express Website: Go to the credit cards section, find the Platinum Travel card, and fill out the application form with your personal and financial details.
- Documents Required:
- Proof of identity (Aadhaar, PAN card)
- Address proof (utility bill, passport)
- Income proof (latest salary slips for salaried, ITR for self-employed)
- Offline Application:
- Although American Express encourages online applications, you might find information or assistance at select partner locations or through customer service.
- Post Application:
- After you submit your application, American Express will conduct a credit check and review your financial profile. Approval can take anywhere from a few days to a couple of weeks.
- Upon approval, you’ll receive your card, which you’ll need to activate, often by calling customer service or using online banking.
Pros:
- High Reward Rate: Especially beneficial if you can hit the spending milestones, offering a return rate of around 8.5% on ₹4 lakh spends.
- Luxury Hotel Perks: The Taj voucher is a standout feature for luxury stays.
- No Expiry on Points: Points remain valid with an active card, providing flexibility for redemption.
Cons:
- Annual Fee: Relatively high with no waiver option, potentially less appealing for those who can’t leverage the benefits fully.
- Limited Lounge Access: The number of complimentary lounge visits is quite limited compared to some other premium cards.
- Acceptance: American Express cards might not be accepted as widely as Visa or MasterCard in some regions or with smaller merchants.
User Feedback:
- Positive: Users who travel frequently and stay at luxury hotels appreciate the milestone rewards and the Taj voucher. The no-foreign transaction fee is also a big plus for international travelers.
- Negative: Some feedback includes dissatisfaction with the limited lounge access and the annual fee without a waiver. Also, there have been mentions of the need for additional customer service support when redeeming points or understanding benefits.