American Express Platinum Travel Credit Card Review

American Express Platinum Travel Credit Card Review

The American Express Platinum Travel credit card is one of the most rewarding credit cards available in India. It provides a generous reward rate; however, its steep annual fees are a deterrent for some. Here is our review of the American Express Platinum Travel 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 EarlySalary card (review).

Fees and Charges

LableFees
Joining Fees Rs. 3,500 + GST
Annual Fee Rs. 5,000 + GST
Interest rate 3.5% per month

Pros & Cons

Pros
  • Spend Rs. 1.90 lakhs in a Card membership year and receive a Flipkart voucher or Amex Travel online benefits worth Rs. 4,500
  • Spend Rs. 4 lakhs in a Card membership year and receive a Flipkart voucher or Amex Travel online benefits worth Rs. 7,500
  • Enjoy 8 complimentary visits to airport lounges across India per year (limited to two complimentary visits per quarter).
  • Zero Liability for Lost Cards
Cons
  • It does not grant access to the fabled Amex lounges, only to regular airport lounges.
  •  Not to mention that many entry-level credit cards now provide more lounge access than this card.
  • Furthermore, Amex cards do not provide any reward points for spends on fuel, insurance, or utilities. However, wallet loads do get points.

Rewards and Cashback

  • Earn 1 Membership Rewards Point for every Rs. 50 spent on all purchases except fuel, insurance, utilities, cash transactions, and EMI conversion at PoS.
  • Milestone Bonus Membership Rewards Points are awarded for the following three Milestones, as defined below:
  •  A Welcome Gift is available if you spend Rs. 5,000 within the first 60 days of card membership.
  •  Spending a minimum of Rs. 1.9 Lacs per year.
  •  Spending a minimum of Rs. 4 Lacs per year.
  • Spend Rs. 1.9 lakhs in a Card membership year and receive up to Rs. 5,000 in benefits.
  • Spend Rs. 4 lakhs in a year and receive benefits worth up to Rs. 8,000.

Who Should get an American Express Platinum Travel Credit Card?

  • You are a frequent traveler.
  • You prefer reward points and luxury benefits to cashback.
  • You want Taj Hotels and Indigo Airlines vouchers. Though there are many other rewards, these two are the most generous.
  • You are willing to pay Rs. 3,500 joining fee and then a Rs. 5,000 renewal fees, provided an annual fee waiver is not applicable.

Eligibility

1. Age

Minimum 18 years old

2. Income

  • A good credit score – preferably 750 or higher
  • Annual income of Rs. 6 lakhs or more.

3. Documents required

  • Identity Card.
  • Address proof.
  • 1 passport-size photograph.
  • Last month’s salary slip (Salaried)
  • Recent IT Return with Income Computation (Self-employed business persons)
  • Latest IT return (self-employed professionals)

Ratings and Reviews

Source: American Express

Cashback and Rewards 4/5 The reward rate is 8%, which puts it above a lot of premium credit cards. If you redeem it properly on Indigo and Taj, this card is the best travel credit card in India.

Fees and charges 2.5/5 The reward rates would entice anyone to use this card; however, the high annual fee of Rs 5,000 can be a hindrance for many.

Eligibility 3.5/5 You will, of course, need to have a good credit history and no payment defaults. You should also have an Indian bank account, and if you are self-employed, your company should have been in operation for at least a year.

Overall 4/5 The American Express Platinum Travel Card offers numerous benefits and is the ideal travel companion. Its highlights include a free domestic return flight and a stay at a luxury hotel. People who travel frequently can accumulate points and redeem them for additional benefits. This card is now accepted all over the world and meets everyone’s needs.

Conclusion

This card may make a lot of sense if you spend more than Rs 4,00,000 per year because you get around 8-10% of the net reward rate which is great for this segment. With travel opening up too, the American Express Platinum Travel can now be utilized more effectively than in the last 2 years.

However, the steep joining and renewal fees might be a hindrance for people looking to get the best bang for the buck from their credit cards. You can also look at the Citi PremierMiles credit card (check eligibility).

FAQs

Is Amex Platinum Travel card worth it in India?

It is one of the best travel cards, with a Rs 3500 joining fee and an annual fee of Rs 5000. They state that you can earn Rs 29,500 in rewards for spending 4 lakhs in a year. That equates up to 7.3 to 8% returns on your card.

What is the American Express Platinum Travel credit card?

The American Express Platinum Travel Card is a travel companion card. Its highlights include a complimentary domestic return flight and a stay in a luxury hotel. Points can be accumulated and redeemed for additional benefits by people who travel frequently.

What are the benefits of the Amex Platinum Travel credit card?

● High potential for rewards when booking flights and hotels through American Express Travel.
● Having multiple credits can help to justify the fee.
● Access to airport lounges
● With enrollment, you will receive luxury travel benefits.

How can I know my American express platinum travel credit card limit?

It is determined by your credit score and income. As a result, there is no set credit card limit. You can also get in touch with customer service through their official website. You can also call on their 24/7 toll-free number,1800 419 2122 or 0124-2801122.

What is the mode of payment for the American Express Platinum Travel Credit Card?

You can pay your bill in the following ways: Online Funds Transfer: NEFT; Online Payment: Rupay-powered debit card; UPI/BHIM-UPI.

Is American express platinum travel Credit Card free?

No, American Express Platinum Credit Card has a Joining Fee of Rs 3500 plus GST and an Annual Fee of Rs 5000 plus GST.

Can I withdraw cash from the American express platinum travel Credit Card?

The American Express Cash Advance program allows you to withdraw cash from participating ATMs up to the card account’s available cash advance limit.

What is the interest rate for an American express platinum travel Credit Card?

The Interest rate of the American Express Platinum Travel Card is 3.5% per month.

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