American Express Platinum Reserve Credit Card

Movie or online shopping vouchers worth ₹12,000 a year on spends of ₹50,000 every month, under an enrolment-based monthly voucher programme.

Joining fee

First-year membership fee ₹10,000 plus applicable taxes

Annual / renewal fee

Membership fee ₹10,000 plus applicable taxes, first year and second year onwards. The MITC also documents an alternative structure for this card — a one-time ₹50,000 Lifetime Foundation Fee with a ₹10,000 annual maintenance fee — which is not the option shown on the live product page.

Annual fee waiver

The renewal membership fee is waived in full when spends on the Card in the immediately preceding membership year reach ₹10,00,000. Eligible spends exclude cash advances, express cash, drafts, balance transfers and fees, and are net of returns.

Add-on card fee

Up to four supplementary cards at no extra cost; ₹1,500 for each supplementary card thereafter

Interest rate

3.50% per month (42% per annum) on revolved balances and cash advances, rising to 3.99% per month (47.88% per annum) where the account is in default.

Interest-free period

48 days

Cash advance fee

3.5% of the cash advance amount, subject to a minimum of ₹250. Cash withdrawal in India is currently suspended; the facility is available overseas only.

Overlimit fee

Overlimit transactions have been disabled since 1 October 2022. Debits of fees and charges raised by the issuer can still take an account over its assigned limit.

Payment dishonour

₹250 per returned instrument

Forex markup

3.50% currency conversion factor on foreign-currency transactions

Duplicate statement

₹100

Income (salaried)

₹6L/year

Income (self-employed)

₹6L/year

Age

18+ years

• How is the renewal fee waived on the Platinum Reserve Credit Card?
• How many lounge visits does the card include?
• Are the Centurion Lounges in Delhi and Mumbai still available?
• What income is needed for the Platinum Reserve Credit Card?