American Express Platinum Reserve Credit Card – Benefits, Fees & Eligibility

American Express® Platinum Reserve℠ Credit Card

Introduction

The American Express® Platinum Reserve℠ Credit Card stands as the second most premium credit card offered by American Express in India, positioned just below the Platinum Charge Card. It is designed to add luxury to your lifestyle, offering a comprehensive suite of benefits that span across travel, dining, shopping, and exclusive lifestyle access. While it offers robust travel privileges like hotel programs and lounge access, it also excels with dining benefits, complimentary golf, and movie vouchers. The card is renowned for its brand value, appealing to those who appreciate the prestige associated with American Express.

Welcome Benefits

• Receive a Welcome Gift of 11,000 Bonus Membership Rewards Points.
• This welcome benefit is available only in the first year upon payment of the annual fee.
• To avail, you must spend INR 30,000 within 90 days of card membership/issuance.

Fees

• Joining Fee: Rs. 10,000 plus applicable taxes (GST).
• Renewal Fee: Rs. 10,000 plus applicable taxes (GST), from the second year onwards.
• Spend-Based Waiver: The Annual Membership Renewal fee of Rs. 10,000 will be 100% waived off if the total spends on the American Express Platinum Reserve Credit Card in the immediately preceding membership year is Rs. 10,00,000 and above.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.5% per month.
• Fuel Surcharge:
  • 0% convenience fee on fuel purchases at HPCL for transactions less than Rs. 5,000.
  • 1% convenience fee on fuel purchases at HPCL for transactions of Rs. 5,000 and above.
  • 1% fuel surcharge applicable at BPCL and IOCL filling stations (subject to a minimum surcharge of Rs. 10).
  • 2.5% fuel surcharge at all other filling stations (subject to a minimum surcharge of Rs. 10).
• Cash Advance Charges: 3.5% of the advanced amount, subject to a minimum amount of Rs. 250.
• Add-on Cards:
  • Up to 4 complimentary add-on credit cards.
  • A charge of Rs. 1,500 per add-on card applies for any additional cards beyond the complimentary limit.

Rewards

• Reward Earn Rate
  • Earn 1 Membership Rewards Point for every Rs. 50 spent with the card.
  • No Membership Rewards Points are earned on spends related to fuel, insurance, utilities (electricity, water, and gas bills), cash transactions, and EMI conversions at the point of sale.
  • Effective March 15, 2020, Membership Rewards Points will not be earned on EMI options selected from a merchant’s website (e.g., online shopping with Amazon or Flipkart) or at a merchant’s terminal (e.g., Chip and PIN transaction at Croma retail store).
  • Membership Rewards Points continue to be earned on all EMI transactions through American Express SafeKey and on all EMI conversions done post-purchase.
  • Earn 3X Reward Points while shopping through the AmEx Rewards Multiplier.
• Milestone Benefits
  • Receive movie or online shopping vouchers worth Rs. 12,000 per year by spending Rs. 50,000 every month. This translates to choosing between Flipkart, BookMyShow, or other brand vouchers worth Rs. 1,000 on monthly spends of Rs. 50,000.
  • Eligible shopping brands for redemption include Flipkart, Shoppers Stop, Myntra, Big Basket, PVR, and MakeMyTrip.
  • Get a Taj stays voucher worth Rs. 10,000 on spending a minimum of Rs. 5 lakhs in a membership year (subject to the realization of the annual membership fee).
• Movies
  • Enjoy movie or online shopping vouchers worth Rs. 1,000 on spending Rs. 50,000 in a calendar month.
  • Vouchers are redeemable for brands like Flipkart, BookMyShow, Shoppers Stop, Myntra, Big Basket, PVR, and MakeMyTrip.
• Dining
  • Complimentary EazyDiner Prime membership, offering a minimum of 25% off at Prime restaurants and complimentary drinks with every booking.
  • Complimentary Taj Epicure Program membership with exclusive benefits on dine-outs at bars, restaurants, and spas across Taj, SeleQtions, and Vivanta Hotels. Benefits include a 50% discount on the first three dining transactions, 2 room upgrade vouchers, and happy hours from 6 PM to 8 PM at participating bars.
• Travel
  • Complimentary Accor Plus Traveller membership, offering up to 50% off on dining at over 1,400 participating Accor hotel restaurants, early access to Accor hotel sales, and exclusive member event access.
  • Complimentary Taj Epicure Membership, providing special privileges including a 10% discount on stays, late check-outs, and unlimited validity of Taj InnerCircle Points.
  • USD 100 hotel credit and a complimentary room upgrade at luxurious hotel chains, including Hyatt & Hilton Hotels, under the Hotel Collection program.
• Domestic Lounge
  • Enjoy 12 complimentary domestic airport lounge visits per year, limited to 3 visits per quarter, to partner airport lounges across India.
  • Note: Effective September 1, 2023, access to domestic "The Centurion® American Express Lounges" in Delhi and Mumbai on your American Express Platinum Reserve Credit Card is being discontinued.
• International Lounge
  • Complimentary Priority Pass membership with the US$99 annual membership fee waived off.
  • Receive up to 2 complimentary visits to international lounges per calendar year using Priority Pass.
  • Additional visits exceeding the 2 complimentary visits will be charged as per prevailing rates (currently US$35 per person per visit).
  • This is an enrollment-based benefit.
• Golf
  • Enjoy two complimentary rounds of golf per month at over 32 premium golf destinations in India with a 100% waiver on the green fee.
  • This benefit is unlocked on making spends of Rs. 50,000 and above in the prior two months.
  • Primary and add-on card members can also receive golf lessons at a discounted price.
• Insurance
  • Personal air accident cover worth Rs. 1 crore (applicable only in case of loss of life).
  • Purchase protection against loss, damage, or burglary of any item purchased using the card within 60 days of purchase. The amount paid may be refunded if the item is stolen, damaged, or broken due to fire, earthquake, flood, storm, cyclone, etc.
  • These insurance benefits are provided in partnership with ICICI Lombard General Insurance Company Limited.
• Lifestyle
  • Complimentary Accor Plus Traveller membership.
  • Complimentary Taj Epicure membership.
  • Complimentary EazyDiner Prime membership.
• Concierge Services
  • Global 24x7 Platinum concierge service for assistance with:
    • Delivery of flowers and gifts.
    • Booking movie tickets.
    • Arranging a round of golf.
    • Booking a spa session with participating partners.
    • Dining reservations.
  • Available by dialing 1800-180-1030 or 1800-419-1030.

Rewards Redemption Guide

• Membership Rewards Points can be redeemed for over 500 options across travel, dining, accessories, and more.
• Redeem points for online shopping e-vouchers from American Express’s online shopping portal.
• Use points for INSTA purchases at offline stores.
• Transfer Membership Reward Points to various airline and hotel loyalty programs, including:
  • Asia Miles, British Airways Executive Club, Emirates Skywards, Etihad Guest, Finnair Plus, Qatar Privilege Club, Singapore KrisFlyer, Virgin Points.
  • Marriott Bonvoy, Hilton Honors.
• Utilize Membership Rewards Points to pay for card charges or adjust against your card's statement balance under the ‘Select and Pay’ or ‘Cash + Points’ scheme.
• Choose to pay for flights with Membership Rewards Points through ‘Pay with Points’.
• The monetary value of Membership Reward Points may vary for different modes of redemption.
• American Express Membership Rewards Points never expire.

Card Eligibility Criteria

• Age: Must be over 18 years of age.
• Bank Account: Must have an Indian or multinational bank’s savings or current account in India.
• Credit History: Must possess a good credit history and no payment defaults.
• Annual Income:
  • Salaried Employees: Minimum personal annual income of Rs. 6,00,000 and above.
  • Self-Employed Individuals: Minimum personal annual income of Rs. 6,00,000 and above (as per ITR), and the company must have been trading for more than 12 months.
• Residential Address: Must have a current/permanent residential address in India.
• Residential Status: Applicant (and any supplementary card applicants) must be a Resident Indian as defined under the Income Tax Act of India and must notify American Express Banking Corp. of any change in residential status.
• Serviceable Locations: American Express Cards are currently issued to residents of Delhi/NCR, Mumbai, Bangalore, Chennai, Pune, Hyderabad, Jaipur, Kolkata, Indore, Coimbatore, Chandigarh/Tricity, Ahmedabad, Surat, Vadodara, Lucknow, Ludhiana, Nagpur, Nasik, Trivandrum, and Mysuru, subject to conditions.

Card Review

The American Express Platinum Reserve Credit Card is positioned as a premium offering, second only to the Platinum Charge Card. It is a suitable choice for individuals seeking a comprehensive suite of benefits beyond just travel, including exclusive dining experiences, complimentary golf, and shopping vouchers. For those who value the prestige and brand recognition of American Express, this card presents a compelling option, particularly given its additional dining benefits and complimentary memberships.

• Who should apply:
  • Individuals seeking a premium credit card with a broad range of benefits, including travel, dining, golf, and lifestyle perks.
  • Frequent flyers who can utilize the domestic lounge visits and Priority Pass membership.
  • Those who appreciate exclusive memberships like Accor Plus Traveller, Taj Epicure, and EazyDiner Prime.
  • Cardholders able to meet the spending thresholds to unlock milestone benefits and fee waivers.
• Pros:
  • Generous welcome benefit of 11,000 Membership Rewards Points upon meeting initial spend requirements.
  • Offers 12 complimentary domestic lounge visits annually and a complimentary Priority Pass membership for international lounges.
  • Includes valuable complimentary memberships such as Taj Epicure, Accor Plus Traveller, and EazyDiner Prime.
  • Provides significant lifestyle benefits like two complimentary golf rounds per month at premium courses across India.
  • Features strong insurance benefits, including a Rs. 1 crore air accident cover and purchase protection.
  • Offers a global 24x7 concierge service for various assistance needs.
• Cons:
  • Despite a high annual fee of ₹10,000, some basic perks commonly found in similar premium cards (e.g., golf games without spending requirements) are not provided or have conditions.
  • The foreign currency markup of 3.5% is considered steep for a card with such a high annual cost, especially for a premium travel-oriented card.
  • The reward rate of 1 point for every Rs. 50 spent is not particularly high compared to some other premium cards, especially when considering the excluded spending categories.
  • Access to Amex Centurion Lounges in Delhi and Mumbai has been discontinued from September 1, 2023.
  • Card benefits like domestic lounge access and golf privileges are often tied to monthly spending thresholds.

Important Product Details

• Welcome gift of 11,000 bonus Membership Rewards Points.
• Earn 1 Membership Rewards Point for every Rs. 50 spent (exclusions apply for fuel, insurance, utility, and point-of-sale EMI conversions).
• Receive monthly Flipkart/BookMyShow or other brand vouchers as milestone benefits.
• Access complimentary (limited) visits to domestic airport lounges and a complimentary Priority Pass membership.
• Enjoy complimentary memberships to Taj Epicure, Accor Plus Traveller, and EazyDiner Prime.
• Benefit from 2 complimentary rounds of golf every month at over 32 premium golf courses across India.
• Access 24×7 American Express concierge service.
• Includes an air accident insurance cover worth Rs. 1 crore.

Other Details

• Card Type: Credit Card.
• Customer Care: Dedicated 24x7 helpline for Platinum Reserve credit card customers for assistance or to report loss of card:
  • Toll-free: 1800-180-1030
  • Toll-free: 1800-419-1030
  • Standard: 0124-280-1030
• Zero Liability Protection: The cardholder is not liable for any fraudulent transactions if the loss of the card is reported within three days. Otherwise, the cardholder's liability is limited to a maximum of Rs. 1,000.
• Contactless Payment: The card supports contactless payments. PIN entry is not required for transactions up to Rs. 5,000.
• Membership Rewards Points Validity: American Express Membership Rewards Points never expire.