Is This The Best “Starter” Premium Credit Card?

Premium credit cards allow you to take advantage of your existing lifestyle spends and help you earn rewards for the same. But if you’re just starting out in this world, the number of choices out there can be overwhelming. In my mind, the American Express Platinum Travel Credit Card is probably the best starter premium card that’s out there. Here’s why I think so –

First – What Kind Of Card Is It?

The American Express Platinum Travel card is a premium credit card aimed at customers who’re looking to make the most of their existing lifestyle and travels. The card costs Rs. 5,000/- in annual fees, but if you use a referral link, you’ll get the first year free along with 2000 points (if you spend Rs. 5,000/- within the first 90 days).

What’s Good?

Membership Rewards Don’t Expire:

The American Express Points are called Membership Rewards Points and you earn 1 point for every Rs. 50 that you swipe the card for. MR points don’t expire for as long as you hold them in your MR points account. This is a massive differentiator in comparison to most Credit Card points programmes where points tend to expire.

The Points Carry Fantastic Value

When combined with the Marriott Bonvoy membership, the MR points deliver incredible value. For reference, 1 MR point equals one Marriott Bonvoy point. For reference, 35K Marriott Points (35K MR points) will get you a free night at JW Marriott Juhu. Plus there are incredible Marriott properties across the world.

MR points can also be transferred to Emirates Skywards (where 2 MR points become 1 Skyward mile), Avios and a number of other frequent flier programmes.

It’s Easy To Rack Up Points

Racking up points on the American Express Platinum card is fairly straightforward. When you spend Rs. 15,000/- in the first 90 days, you get 10K points. When you cross Rs. 1.9 Lakhs in the first year, you get 15K points as a bonus and when you cross 4 Lakhs in spends, you get 25K points as a bonus – and a 10K voucher from the Taj. So that’s 50K extra points you can earn apart from the points that your regular spending gets you.

What’s more, you can use the Gyftr platform to buy vouchers instead of spending directly on e-commerce websites to benefit from the reward multiplier effect.

What’s Not Good?

Amex Isn’t Accepted Everywhere

Amex isn’t accepted across stores in India the way Mastercard and Visa are. So you may find yourself having to use UPI payments. It cannot be relied as a sole payment source.

Stringent Entry Process

Getting a card with Amex, especially when you may not have a robust credit history can be hard. Amex is also known to be slightly more stringent than most credit card providers, so actually getting your card can be slightly challenging in a few cases.

No Access to Amex Centurion Lounges

While the Amex card allows you 8 complimentary visits to lounges across India (after which you’ll be charged a fee) and a free membership to the Priority Pass programme, you will not get access to the Centurion Lounge which is the Amex exclusive lounge that operates in airports across the world.

Who’s It For?

This is a great card for mid-senior professionals who spend anywhere between 4 to 6 Lakhs in a year. The card allows you to make the most of your existing spends and convert them for travel perks that benefit your family. Remember, the point of credit cards is to get rewards for existing spends. You should never have to spend for the sake of points. .

Are you considering this card? Let me know in the comments. For more info on credit cards, do check out the credit card section on the blog.