American Express Platinum Reserve Credit Card Review

American Express Platinum Reserve Credit Card Review

American Express Platinum Reserve credit card is one of Amex’s premium cards for those who are seeking dining, health, travel, and similar benefits. Moreover, it also helps avail complimentary discounts on lounge and health care packages.

Here is our review of the American Express Platinum Reserve credit card, where we delve deep into the pros, cons, rewards, cashback, and more. We attempt to answer the question of whether you should get one for yourself or not. Here you can also check Amex gold credit card and American express gold card India reviews.

Fees and Charges

LableFees
Joining Fee Rs. 5000 + GST
Annual Fee Rs. 10,000 + GST
Interest rate 3.5% per month (42% per annum)

Pros & Cons

Pros
  • Customers can enjoy 11000 bonus membership rewards as welcome gifts after paying the joining fees.
  • Customers can avail Priority Pass membership with the annual fees ($99) waived off.
  • Free domestic Airport Amex lounge access in Mumbai and Delhi.
  • Free access to Golf courses.
  • Customers can enjoy a discount of 20% at their choice of restaurant for dining.
  • 24X7 assistance on American Express Platinum credit card service centres.
  • Customers can enjoy the benefits to stay provided at Taj Hotels, Palaces, Resorts, Safaris, and preferred hotels.
  • American Express Platinum Reserve credit card allows 25% off on Taj group dining expenses. Also discounts and upgrade vouchers include a complimentary Gold tier membership to Taj Inner Circle & Epicure Plus.
Cons
  • The limitations of the American Express Reserve credit card are as follows:
  • High Annual fees
  • Not a very straightforward reward system
  • Absence of reward points on milestone spends.

Rewards and Cashback

  • Earn one membership reward point for every Rs. 50 spent, excluding fuel, insurance, and utility purchases.
  • Redeem your points by booking flights, dining, or making purchases on accessories.
  • Utilise your reward points to pay your Amex Credit Card bill.

Who Should get an American Express Platinum Reserve Credit Card?

The American Express Platinum Reserve is a relatively inexpensive alternative to the more premium Amex Platinum card. At a lower annual fee, you can get access to the coveted American Express lounges at airports in Mumbai and Delhi. But that’s largely it when it comes to the USP of this card.

Otherwise, you get some benefits at hotels and on movie tickets. But you are better off with Platinum Travel or the Membership Rewards from American Express if absolute rewards are what you are looking for.

Eligibility Criteria

1. Age

The cardholder must be at least 18 years old.

2. Income

The applicant must have a minimum income of Rs 6 lakhs per annum,

3. Other Criteria

  • The cardholder’s credit history should be healthy.
  • The cardholder must have at least one credit card from a different bank.
  • Location – Indian citizens only.
  • If the cardholder is self-employed, the company must have been in operation for at least 12 months.
  • Cardholder should be from one of the following – Bhopal, Surat, Mumbai, Vadodara, Jaipur, Goa, Kolkata, Chennai, Pune, Bangalore, Coimbatore, Ahmedabad, Delhi, Vizag, Ernakulam, Hyderabad, Guntur, Chandigarh, Indore, Bhubaneshwar, Kanchipuram, or Vijayawada. 

4. Documents Required

  • PAN Card, Aadhaar Card, Voter’s ID Card, Passport, Driving Licence, or any other government-approved photo ID
  • Bank statements for the previous three months, pay receipts for the previous three months, audited financials for the previous two years (if self-employed), or Form 16

Ratings and Reviews

Source: American Express

  • Cashback and Rewards – 3/5 The American Express Platinum Reserve card has a low rewarding system, if you do not prefer stays at Taj resorts/ hotels, dining at restaurants, and playing golf then you won’t be able to enjoy the benefits to the fullest.
  • Fees and charges –. 3/5 The annual fee of Rs. 10,000 + GST may appear to be excessive, but it is also conditional on your spending, payment habits, and income.
  • Eligibility – 4/5 For a premium credit card, the American Express Platinum Reserve has relatively simple requirements. It only necessitates Rs 6 Lakhs salary. The income requirement is significantly lower than other premium cards from issuers like HDFC Bank and Citi.
  • Overall – 3.5/5 When used alone, Amex Platinum does not provide enough significance. However, Epicure membership and cashback can provide you with the most benefits. If you are not the one looking for luxury benefits though, the annual fees may pinch you hard.

Conclusion

If you have luxury focussed spending habits, then the American Express Platinum Reserve credit card is a great fit for you. The features of the card gets doubled if you utilise Epicure membership and the concierge service. However, if absolute cash-equivalent returns are what you are looking for, we suggest you look elsewhere.

FAQs

Is Amex Platinum Reserve worth it in India?

The Platinum Reserve is a good and relatively inexpensive to the Amex Platinum if luxury benefits is what you are looking for.

How can I know my American Express Platinum Reserve credit card limit?

Your American Express Platinum Reserve credit card limit depends on a variety of factors including your credit score, outstanding balances, and credit account.

What is the mode of payment for the American express platinum reserve Credit Card?

You can pay your Card bill in the following ways:
● Online Payment: Debit card powered by Rupay; UPI/BHIM-UPI; UPI QR Code/BHIM-UPI QR Code
● Recurring Direct Debit/NACH
● Drop Boxes
● Courier

Is the American Express Platinum Reserve Credit Card free?

No, the American Express Platinum Reserve credit card has a joining fee of Rs. 5000 + GST and an annual fee of Rs. 10,000 + GST.

Can I withdraw cash from the American Express Platinum Reserve Credit Card?

Yes, Amex Platinum Reserve cardholders can withdraw up to 20% of the Credit Limit, up to a maximum of Rs. 25,000 in 14 days.

What is the interest rate for the American Express Platinum Reserve Credit Card?

The interest rate of the American Express Platinum Reserve Credit card is 3.5% per month or 42% per year.

What is the billing date of the American express Platinum Reserve Credit Card?

Grace period on American Express cards is of 25 days, but to ensure that your payment due date is set at a time that is convenient for you, customers can contact customer service to discuss changing the statement date. However, all the previous dues have to be cleared before any changes in the statement generation date.

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