Introduction
The American Express Platinum Reserve Credit Card is designed for affluent individuals seeking a premium lifestyle and a wide array of exclusive benefits. As a high-end credit card offering from American Express, it provides a multitude of perks aimed at enhancing the user's daily life, from travel and dining to entertainment and shopping. The card's substantial annual fee is offset by numerous privileges, making it an appealing option for those who can maximize its features.
Key highlights of the American Express Platinum Reserve Credit Card include a generous welcome bonus, a robust rewards program, complimentary memberships, and access to elite services. This review will delve into the various features, benefits, and overall user experience associated with this card, providing a thorough evaluation to help potential cardholders decide if it aligns with their financial and lifestyle needs.
Joining Benefits of Platinum Reserve Credit Card
- Welcome Benefit:
- Complimentary e-gift voucher worth โน5,000 from premium brands upon card activation.
- Reward Points:
- 5 reward points for every โน100 spent on all purchases.
- Airport Lounge Access:
- 12 complimentary domestic and 6 international lounge visits per year.
- Dining Privileges:
- Up to 25% off at partner restaurants.
- Travel Benefits:
- Exclusive discounts on flight and hotel bookings.
- Fuel Surcharge Waiver:
- 1% waiver on fuel transactions.
- Annual Fee Waiver:
- Annual fee waived on spending โน4 lakhs in a year.
- Comprehensive Insurance:
- Complimentary travel insurance and purchase protection cover.
- Concierge Services:
- 24/7 concierge services for travel, dining, and entertainment bookings.
- Interest-Free Period:
- Up to 50 days of interest-free credit.
Card Features and Benefits
Welcome Bonus
The American Express Platinum Reserve Credit Card offers a compelling welcome bonus to new cardholders. Upon payment of the annual fee and spending INR 30,000 within the first 90 days of membership, users receive 11,000 Bonus Membership Rewards Points. This initial incentive is designed to provide immediate value and encourage early usage of the card.
Reward Earn Rate
Cardholders earn 1 Membership Rewardsยฎ Point for every INR 50 spent, with exceptions for expenditures on fuel, insurance, utilities, cash transactions, and EMI conversion at the point of sale. This rewards rate is competitive, particularly for those who frequently use their card for a variety of purchases.
Annual Fees and Fee Waiver
The annual fee for the American Express Platinum Reserve Credit Card is INR 10,000 plus applicable taxes, both in the first year and for subsequent years. However, the card offers a fee waiver feature: if the total spending on the card in the preceding membership year reaches or exceeds INR 10,00,000, the annual fee is fully waived. This provides a significant incentive for high spenders to continue using the card.
Key Benefits
- Movie or Online Shopping Vouchers: Cardholders can enjoy vouchers worth INR 12,000 per year by spending INR 50,000 every month. This benefit is designed to enhance the cardholder's entertainment and shopping experiences.
- Lifestyle Access: The card offers complimentary memberships to Accor Plus Traveller, Taj Epicure, and EazyDiner Prime, adding luxury and convenience to the user's lifestyle.
- Complimentary Access to Airport Lounges: Cardholders receive complimentary access to both international and domestic airport lounges across India. This includes a complimentary Priority Pass membership with the US$99 annual membership fee waived.
- Golfing Privileges: By spending INR 50,000 in a month, cardholders can enjoy complimentary access to over 32 lush green golf courses in India twice a month. This perk is ideal for golf enthusiasts looking to indulge in their passion without additional costs
User Experience
Application Process
Applying for the American Express Platinum Reserve Credit Card is designed to be straightforward. Prospective cardholders can apply online through the American Express website or through other channels such as customer service or in-person representatives. The process typically involves filling out an application form with personal, financial, and employment details, followed by a credit check.
Eligibility Criteria
To be eligible for the American Express Platinum Reserve Credit Card, applicants must meet the following criteria:
- Be over 18 years of age.
- Have a savings or current account with an Indian or multinational bank in India.
- Maintain a good credit history with no payment defaults.
- Have a personal annual income of INR 6 Lakhs or above, applicable for both salaried and self-employed individuals.
- Possess a current or permanent residential address in India.
- If self-employed, the business should have been operational for more than 12 months.
- The card is available to residents in specific cities including Delhi/NCR, Mumbai, Bangalore, Chennai, Pune, Hyderabad, Jaipur, Kolkata, and others as per the terms.
Customer Service
American Express is renowned for its excellent customer service. Cardholders have access to round-the-clock customer support, ensuring assistance is available whenever needed. The company provides multiple channels for support, including phone, email, and online chat. Additionally, American Express offers a concierge service, assisting cardholders with travel arrangements, restaurant reservations, event bookings, and other lifestyle needs, enhancing the overall user experience.
Additional Perks and Benefits
Lifestyle Access
The American Express Platinum Reserve Credit Card offers exclusive lifestyle benefits that add significant value to the cardholder's experience. This includes complimentary memberships to:
- Accor Plus Traveller: Provides discounts and exclusive benefits at Accor Hotels worldwide.
- Taj Epicure: Offers dining privileges at Taj Hotels.
- EazyDiner Prime: Grants access to special dining deals and priority reservations at top restaurants.
Airport Lounge Access
Cardholders enjoy complimentary access to both international and domestic airport lounges across India, enhancing their travel experience. Additionally, they receive a complimentary Priority Pass membership, which includes a waiver of the US$99 annual membership fee. This perk allows cardholders to relax and enjoy premium services while traveling.
Golfing Privileges
Golf enthusiasts can take advantage of complimentary access to over 32 golf courses in India. By spending INR 50,000 in a month, cardholders can enjoy two complimentary visits per month to these courses, making it an attractive benefit for those who love the sport.
Purchase Protection
The card offers purchase protection, covering items bought with the card against theft or damage. This provides peace of mind for cardholders, knowing their purchases are safeguarded.
Contactless Payment
The American Express Platinum Reserve Credit Card supports contactless payments, allowing for quick and secure transactions. This feature is particularly useful for small, everyday purchases, enhancing convenience for the cardholder.
Rewards Programme
Earning Points
The American Express Platinum Reserve Credit Card offers a modest rewards earn rate of 1 Membership Rewardsยฎ Point for every INR 50 spent. However, there are several exclusions to this earn rate, such as expenditures on fuel, insurance, utilities, cash transactions, and EMI conversion at the point of sale. This relatively low earn rate can be seen as a drawback, especially for cardholders looking to maximize their rewards on a variety of everyday purchases.
Redeeming Points
Cardholders have several options to redeem their Membership Rewards Points:
- Travel: Points can be used to pay for flights through the โPay with Pointsโ feature, providing flexibility for travel expenses.
- Shopping: Points can be redeemed for over 500 options across travel, dining, accessories, and more, offering a wide range of choices for cardholders.
- Card Charges: Points can also be used to pay for card charges through the 'Select and Pay' option, adding convenience for managing expenses.
Despite the flexibility in redemption options, the relatively low points earn rate may limit the accumulation of rewards, especially when compared to other premium cards with higher earn rates.
Comparative Analysis
When compared to other premium credit cards, the American Express Platinum Reserve Credit Card has both strengths and weaknesses. Its high annual fee of INR 10,000 plus applicable taxes is on par with other luxury cards, but the fee waiver for spending INR 10,00,000 in the previous year is a significant benefit for high spenders. However, the low rewards earn rate and numerous exclusions may be a deterrent for potential cardholders who prioritize earning points.
Conclusion and Overall Rating
The American Express Platinum Reserve Credit Card is well-suited for affluent individuals who can take full advantage of its extensive lifestyle and travel benefits. The card offers excellent perks such as airport lounge access, complimentary memberships, and purchase protection, which can greatly enhance the cardholder's experience. However, the low rewards earn rate and high annual fee may not provide the best value for everyone, particularly for those who do not spend enough to benefit from the fee waiver.
This rating reflects the card's strong benefits and services balanced against its relatively low points earn rate and high annual charges. It is an excellent choice for those who can maximize its features, but may not be ideal for users seeking high reward earnings on diverse expenditures.
