American Express Platinum Corporate Card – Benefits, Fees & Eligibility

Introduction

The American Express Platinum Corporate Card, issued by American Express, is a premium metal offering designed for corporations with significant business travel and expenses. It provides unsecured credit limits and is positioned as a superior version of the AmEx Corporate Card. This card stands out with its luxurious benefits across travel and hotel stays, including unlimited access to over 1,400 airport lounges globally via the American Express Global Lounge Collection, substantial welcome vouchers, and an accelerated Membership Rewards program tailored for business expenditures.

Welcome Benefits

• Choose any one as a welcome benefit for the first year after paying joining fees:
  • Taj Vouchers Worth ₹35,000
  • Amazon Vouchers Worth ₹30,000
  • MakeMyTrip Vouchers Worth ₹30,000

Fees & Charges Breakdown

• Joining Fee: NIL
• Renewal Fee: ₹40,000 + GST
• Spend-Based Waiver: Not applicable
• Reward Redemption Fee: Nil
• Foreign Currency Markup: 3.5% + GST of the transaction amount
• Interest Rates: This is a charge card, so no overdue interest charges are applicable. A Delinquency Fee of 3.5% of the outstanding balance, subject to a minimum of ₹100, is levied on unpaid balances.
• Fuel Surcharge Waiver: 1% of the transaction amount (2.5% for Private Fuel), subject to a minimum of ₹10.
• Cash Advance Charges: 3.5% of the withdrawal amount.
• Add-on Card Fee: Not specified.

Rewards & Cashback Structure

• Earning Rate:
  • 1 Membership Rewards Point for every ₹100 spent on telecommunications, insurance, and other utility services. Capped at 1,000 MR Points each month for utility, telecommunication, wholesale spends, and insurance bills.
  • 1 Membership Rewards Point for every ₹40 spent on all other spending.
  • No Membership Rewards Points are earned on fuel transactions.
• Acceleration Categories:
  • Enjoy 2X rewards when booking directly on the Air India website or app with your American Express Platinum Corporate Card. This is a limited-time offer until January 31, 2027.
• Reward Redemption Options:
  • Vouchers: Choose from a wide selection of shopping categories and redeem points for e-vouchers (350+ e-vouchers across 175 brands).
  • Transfer Partners: Transfer reward points to leading airline and hotel loyalty programs.
  • Cover Charges: Use points against any eligible charges on your card.
  • Pay with Points: Use reward points to pay for anything bought online or in-store.
  • Book Travel: Redeem points to book flight tickets and hotels on American Express Travel Online.
• Point Expiry Rules: Membership Rewards Points never expire.
• Reward Redemption Charges: No redemption charges.

Travel, Lounge & Lifestyle Perks

Lounge Access

• International Lounge Access: Unlimited access to over 1,400 airport lounges across the globe with the American Express Global Lounge Collection. This includes The Centurion Lounges, Escape Lounges – The Centurion Studio Partner, Priority Pass Lounges (highest tier membership valued at US $429), Delta Sky Club Lounges, and Lufthansa Lounges.
• Domestic Lounge Access: Access to The Centurion Lounge at T3 Delhi & T2 Mumbai, and over 30 Domestic Partner Lounges across key cities in India.
• Guest Access: Unlimited lounge access for accompanied guests (charged at US $32 per guest per visit).

Travel Benefits

• Platinum Airlines Program: Access preferential fares, priority check-ins, discounted upgrades, and other benefits on the world’s leading airlines.
• Fine Hotels and Resorts Privileges: Enjoy competitive rates and complimentary benefits (average total value of ₹44,300) at over 1,300+ extraordinary properties worldwide. Benefits include noon check-in (when available), room upgrade upon arrival (when available), daily breakfast for 2 people, in-room Wi-fi (exclusions apply), guaranteed 4 pm checkout, and unique amenities like a 1-way private sedan transfer or a $100 food or beverage credit.
• Platinum Travel Services: Dedicated travel services for international and domestic airline, hotel, and car rental bookings.

Complimentary Memberships

• Complimentary Taj Epicure Plus Membership: Enjoy savings with a range of discounts and benefits (effective November 1, 2023):
  • 25% discount on Food & Beverage on dine-in & takeaway at participating restaurants for up to 10 people.
  • 20% discount on food and beverages at banquets for up to 30 people.
  • 25% discount on Qmin for food deliveries via the Qmin mobile application.
  • 20% discount on spa and salon services at Jiva Spas.
  • Complimentary Birthday Cake for the member’s birthday month.
  • One-time pool access with set lunch and wine at a special price of INR 3,000 per person for up to 4 guests.
  • Happy Hours at Taj Club Lounge in select Taj hotels can be availed twice a year.
  • Three discount vouchers for 20% off on the Best Available Rate for a Room/Suite Stay at participating Taj properties (can be availed twice a year).
• Marriott Bonvoy Gold Elite Status: Eligible for Gold Elite Status (effective April 1, 2024), waiving the 25-night stay requirement. Benefits include:
  • Earn 10 points per eligible US dollar spent and a 25% bonus over base-level members.
  • Late checkout up to 2 p.m. (subject to availability).
  • Enhanced room upgrade upon arrival (subject to availability).
  • A welcome gift of points upon arrival.
• Hertz Gold Plus Rewards Membership: Enjoy special benefits such as discounts, upgrades, and priority service when renting with Hertz:
  • 15% off Hertz car rental worldwide.
  • 25% saving on Hertz Prestige Collection (with a Saturday night keep).
  • Complimentary one-car-class upgrades with every rental (subject to availability).
  • A 4-hour no charge grace period.

Spend-Based Benefits

• MakeMyTrip Vouchers: Unlock MakeMyTrip vouchers worth ₹15,000 by booking international flights and hotels worth ₹2,00,000 through MMT Biz in a single day (effective April 1, 2024).
• Annual Spend Vouchers: Earn vouchers worth ₹10,000 on annual spends of ₹30 lakhs from Flipkart, MakeMyTrip, Yatra, or ITC (effective April 1, 2024).

Insurance Benefits

• Air Accident Insurance Cover: ₹5 Crore.
• Overseas Medical Insurance Cover: $50,000.
• Travel Insurance and Group Personal Accidents:
  • Common Carrier: World Wide Cover, Sum Insured ₹5 Crore.
  • Accidental Death: World Wide Cover, Sum Insured ₹30 Lakh.
  • Permanent Total Disablement (PTD): World Wide Cover, Sum Insured ₹30 Lakh.
  • Total Loss of Checked Baggage: Limit to Overseas Cover, Sum Insured USD 1500.
  • Delay of Checked Baggage: Limit to Overseas Cover, Sum Insured USD 750.
• Overseas Medical Insurance:
  • Emergency Medical Expenses: Limit to Overseas Cover, Sum Insured USD 50,000.
  • Daily Allowance in Case of Hospitalization: Limit to Overseas Cover, USD 30 per day up to USD 300.
  • Personal Liability: Limit to Overseas Cover, Sum Insured USD 100,000.
  • Dental Treatment Expenses: Limit to Overseas Cover, Sum Insured USD 150.
• Platinum Protection: Unmatched protection from traveling hazards like loss or delay of checked-in baggage and protection from life's uncertainties.

Platinum Care Services

• 24-Hour Platinum Service: Exclusive 24x7 toll-free Platinum Card services helpline accessible from anywhere in the world.
• Platinum Concierge Services: Available anytime, anywhere, especially when traveling.
• Global Assist: Offers assistance in case of medical or legal emergencies while traveling, available 24 hours a day, virtually anywhere in the world, for 90 days. Services include locating embassy addresses, connecting with lawyers, medical experts, fulfilling visa requirements, relaying urgent messages, and engaging translators.

Card Eligibility Criteria & Income Requirements

• Company Annual Revenue: Your company should have an annual revenue of more than ₹2.75 crore.
• Operational Cities: The company must be operational in one of the listed cities.
• Applicant Role: The applicant must be a key decision-maker within their company.

Credit Card Review

The American Express Platinum Corporate Card is an excellent choice for corporations with substantial travel expenses and a global business footprint. It offers a robust rewards program on business transactions and provides luxurious travel benefits, including unlimited international lounge access and dedicated platinum travel services. While the card offers numerous premium services and welcome benefits, the foreign currency transaction fee of 3.5% + GST is relatively high for a premium travel card. Overall, it provides significant value through its extensive perks and protection services, making it ideal for executives and seasoned business travelers seeking comfort and efficiency.

Important Product Details

• This is a pure premium metal offering.
• Complimentary enrolment to the Membership Rewards program.
• Membership Rewards points never expire.
• Zero Lost Card Liability in case of card loss, if reported within 3 working days. Otherwise, liability is limited to ₹1,000.
• Cardholders are eligible for an interest-free period of 51 days.
• The American Express Mobile App allows for payments, viewing recent transactions, and more.
• The American Express Platinum Corporate Card cannot be linked with any other Amex card.

Other Details

• The 2X Membership Rewards Points on Air India bookings is a limited-time offer valid until January 31, 2027.
• Complimentary Taj Epicure Plus membership is effective from November 1, 2023.
• Complimentary Marriott Bonvoy Gold Elite Status is effective from April 1, 2024.
• The spend-based benefits for MakeMyTrip vouchers and annual spend vouchers are effective from April 1, 2024.
• Insurance is provided and underwritten by ICICI Lombard General Insurance Company Limited, subject to their Terms and Conditions of cover, exclusions, and limitations.