Pros And Cons Of The American Express® Platinum Travel Credit Card

The American Express Platinum Travel Credit Card is one of the travel cards with a myriad of perks for cardholders. From earning Milestone Bonus rewards to complimentary use of airport lounges to platinum services, there are many reasons why this credit card should be in your wallet. In addition, making purchases abroad is definitely easy if you have this credit card with you.

Having a travel credit card is convenient, especially for booking trips and making purchases abroad. If you are a frequent traveler and you don’t own a travel card, you might be missing out on great rewards. From earning miles points to saving money on foreign transaction fees, it’s best to find the right travel credit card for your individual needs.

In this article, we are going to find out the pros and cons of the American Express® Platinum Travel Credit Card. If you are interested in ordering one, read on to find out information about the benefits, fees, charges, and application process that come with this card.

Pros And Cons Of The American Express® Platinum Travel Credit Card
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Why Get A Travel Credit Card?

Travel credit cards offer valuable rewards for cardholders, whether you are traveling for business, pleasure, or both. This isn’t an ordinary purchase card because it provides luxury perks and money-saving features for using the credit card outside the country of origin.

Most of the time, travel credit cards convert purchases into points that you can use to redeem discounts on flights, accommodation, tours or car rentals. In the case of the American Express® Platinum Travel Credit Card, you get e-gifts for hotels and travel vouchers. With a minimum purchase of Rs 4 Lacs, you can get travel vouchers worth more than Rs 11, 800.

Pros Of An American Express® Platinum Travel Credit Card

One of the reasons to get this credit card is the generous signup bonus of 5,000 Milestone Points. The points can be used to redeem discounts and other promotions.

In addition to the signup bonus, cardholders can also earn many additional rewards points because the American Express® Platinum Travel Credit Card lets you earn one point for every Rs 50 spent using the card. For travel vouchers, you need to spend Rs 1.90 Lacs a year to get vouchers worth more than Rs 7,700.

Because this is a travel card, you can also access exclusive airport lounges in India four times a year. This includes the Travel Club Lounge, Earth Lounge, Citco Lounge, and more.

Cons Of American Express® Platinum Travel Credit Card

Even if this credit card offers a lot of perks, the cost may outweigh the rewards for some. For instance, the annual fee of the card is Rs 3,500 for the first year and Rs 5,000 for the succeeding years. This means you are looking at Rs 416.66 monthly, fee plus taxes.

In addition, earning the one membership reward point is not applicable for fuel and utilities purchases, insurance, or cash transactions. Furthermore, the travel lounges you can access are all for domestic flights. Complimentary access to international departure lounges isn’t available for the American Express® Platinum Travel Credit Card.

Application Process

To apply for this credit card, you need to be at least 18 years old, have a permanent address in India, employed and with a minimum of Rs 6 Lacs or more, have an existing credit card with other banks and have Indian savings or current account in India. Having a good credit score also matters, as well as having no payment defaults.

You can apply online or dial the American Express hotline at 1800-3000-2639. You will be asked to submit supporting documents to verify the information provided.

Fees And Charges

As mentioned, the American Express® Platinum Travel Credit Card charges an annual fee of Rs 5,000, after the introductory annual fee of Rs 3,500 for a year. The interest rate for purchases, balance transfers, and cash advances is at 3.5%.

Other charges and fees include Rs 500 for over limit, a convenience fee of Rs 50 for all transactions up to Rs 15,000, and Air Miles Redemption fee of Rs 250 for every redemption.

As mentioned, the American Express® Platinum Travel Credit Card charges an annual fee of Rs 5,000, after the introductory annual fee of Rs 3,500 for a year. The interest rate for purchases, balance transfers, and cash advances is at 3.5%.

Other charges and fees include Rs 500 for over limit, a convenience fee of Rs 50 for all transactions up to Rs 15,000, and Air Miles Redemption fee of Rs 250 for every redemption.

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Conclusion

Overall, the American Express® Platinum Travel Credit Card is a valuable credit card if you travel frequently and shop abroad. Maximize the credit card as much as you can to justify the annual fee of Rs 5,000.

For more information about the credit card, visit the website of American Express.

*Note: There are risks involved when applying for and using a credit card. Consult the bank’s terms and conditions page for more information.