Month: August 2020

  • American Express Platinum Charge Card review – India

    I got this PREMIUM METAL card in January 2020 and since it has been 6 months, I thought of reviewing it.

    MUST HAVE PREMIUM CARD – AMERICAN EXPRESS PLATINUM CHARGE CARD

    Brief background

    Why this card?

    American Express Cards are the best cards in recent times, they have rolled so many offers in times where other premium cards have devalued their points or limited their offers. It is a must-have if you are good at handling plastic money. I always say this as the disclaimer – use credit cards only if you are savvy with your finances and pay all the dues in full. Even if you default once, then the benefits diminish. However, if you manage to pay that part, you cannot imagine the amount of savings the card can offer.

    Before telling that, I want to tell you that a charge card is different from credit card in many ways like you don’t get a predefined limit on your card, you have to pay the outstanding amount in full each month, usually has annual fees, etc.

    The annual fees of this card are Rs. 60000+GST which comes with the welcome gift of 1,00,000 membership reward points or Rs. 40,000 Taj vouchers. This card is for the higher-income bracket of the self-employed and salaried class.

    Since I had an American Express Platinum Travel card and they had rolled an offer for upgrade, which made me eligible for 1,25,000 sign up bonus points which accrued after the spend of Rs. 90000 in first 90 days. Now, because of the Covid-19 situation, they had extended this period by 3 more months, but I had already completed my eligible spending.

    Quick update: The spending criteria are Rs. 50,000 now. Best time to upgrade.

    I took 2 supplementary cards along with this card and extended the higher tier benefits to them too.

    The sign-up bonus could be used for my travel hacking to airline or hotel partners. Also It gives me flexibility to have greater spends and access to premium benefits.

    Exclusive Offers in last 6 months

    Insurance Offer

    Get 5000 bonus points on spends of insurance of above Rs. 50000

    Double the points. Double the value offer

    Double Rewards: 2X on eligible spends and 6X for international spends.

    Everyday Spend offer

    For everyday purchases, get 100% cashback upto Rs. 18000 of spends.

    Supplementary Card

    Amazon Gift Voucher worth ₹1500, for 4 cards

    Utilities Offer

    Pay your utilities bills and earn up to Rs.15,000 bonus points per month

    5X Rewards Multiplier Offer

    Earn on Fashion, Essentials, Electronics and Beauty & Wellness categories for select partners.

    Other offers

    Flat 5% instant discount* at Croma every Wednesday.

    Get 15%* off on celebrity nutritionist Rujuta Diwekar’s consultation

    Exclusive wellbeing and healthcare need related offers

    Exclusive discounts of up to ₹10,000 on OnePlus

    35000 Bonus points on booking at The Postcard Hotels in Goa

    Bonus points on purchase at Bestcollegeart.com

    25% discount while ordering Taj delicacies on QMIN

    Save ₹50,000 on the joining fee at The Quorum

    Get upto Rs 2.5 lacs off on Audi

    Get up to 15% off every time you fly Vistara

    Get up to 45% off on health check ups and consultations

    Complementary Unlimited Access To Lounges

    Like any premium card you get complimentary unlimited access to domestic Lounges, exclusive entry to Amex Lounges, Priority Pass Lounges (yourself and one supplementary cardholder), and Delta lounges.

    Complimentary Golf Course Access & Lessons

    Enjoy premium access to leading golf courses across multiple cities for open golf courses. You and your Supplementary Cardmembers can access professional golf lessons at various courses

    Get fast-tracked to the higher tiers of Marriott Bonvoy, Taj InnerCircle..

    I used this and got upgraded to

    • <strong>Taj InnerCirle Gold</strong>
    • <strong>Marriott Bonvoy Gold</strong>
    • <strong>Hilton Honours Gold</strong>
    • <strong>Radisson Rewards Gold</strong>
    • <strong>Shangri-la Golden Circle Jade Tier</strong>

    These benefits are applicable for supplementary card holders as well. Isn’t it awesome?

    Other Exclusive benefits

    Eligible for customized Term Life Insurance Solution Future Generali India Life Insurance and customized personal accident policy for self and family (which I purchased).

    Exclusive use of their concierge services which offers list of unique & exclusive services on Platinum Charge Card which caters to Lifestyle services, Home Services (India), Medical services (worldwide), and auto assistance (metro cities India). They have tie-ups with fine dining restaurants.

    Invitation for concert tickets to sporting events tickets and even meet and greet with celebrities.

    Complimentary EAZYDINER PRIME membership which entitles to 25% to 50% off at over 500+ Premium Restaurants.

    Zero lost Card liability internationally.

    Free for life, American Express Travel card as a companion card as long as I hold this card. 

    Recommendation

    To summarise this is a lifestyle card. It demands higher fees but the benefits can recover the fees maybe 2X or 3X times depending on your usage and from the value, you derive from the card. This is the only card that gives sign-up bonuses in India unlike aboard where they use it extensively for travel hacking. These points can be transferred to airline and hotel partners to avail of luxurious travel.

    Use this link to get additional 10,000 bonus points for your platinum charge card and unlock the world of luxurious lifestyle now.

    Blogging is difficult. I am learning how to grow my blog with Neha from bloggingmadeeasier.com. In case if you are interested – learn how to grow your blog. Join this amazing challenge here.

    Ms Wise (financial Coach)

    Ms Wise is a financial coach. She is a content writer for a personal finance blog. She is a chartered accountant with 15+ years of experience in the financial services industry. She loves to share her experiences with money management and personal finance. She shares great tips on saving, investing, and spending money wisely which would assist you in achieving financial freedom.

    Download her 30-Day Effective Money Management Challenge With A Daily Planner Template Freebie to elevate your financial health.

    You can reach her via email mswise@beingfinancialsavvy.com