American Express Platinum Reserve Credit Card Gets New Updates In 2024; From Fees To Rewards; Check

The American Express Platinum Reserve Credit Card, a premium offering positioned just below the elite Platinum Charge Card (metal) in Amex's lineup, has undergone updates in 2024. Historically overshadowed by its low rewards rate and high annual fee, this card now offers enhancements that aim to make it more attractive, particularly for certain user demographics. Let's dive into the revamped features, benefits, and limitations of the AmEx Reserve Credit Card.

Card Overview

The Platinum Reserve is designed for premium users with substantial monthly spends. Here's a quick snapshot of its core features:
Type: Premium Credit Card
Reward Rate: 1%-3%
Annual Fee: ₹10,000 + GST
Best For: Monthly spends of ₹50,000
USP: Accor Plus Membership
The Accor Plus membership is a standout feature, offering exclusive dining and travel benefits, and is rarely available with other cards, except the Axis Reserve.

Fees and Charges

Joining Fee: Rs 10,000 + GST
Welcome Benefit: 11,000 Membership Rewards Points (valued at Rs 5,500)
Renewal Fee: Rs 10,000 + GST
Renewal Fee Waiver: On spending Rs 10 lakh annually
Renewal Benefit: None
While the renewal fee waiver requires an impractically high spend of Rs 10 lakh, savvy cardholders may leverage retention offers to negotiate waivers with lower spend targets, often around Rs 1-2 lakh within three months.

Rewards and Benefits

The card provides modest rewards but compensates through milestone bonuses and premium partner perks.

Reward Structure

Regular Spends: 1 Membership Reward (MR) point for every ₹50 spent (reward rate: 1%-2%)
Utility, Insurance, Fuel & EMI Spends: No rewards
While the base reward rate is uninspiring, milestone benefits significantly enhance the card's value.

Monthly Milestone Bonus

Spend Requirement: Rs 50,000
Reward: Rs 1,000 voucher (valued at 2%)
Voucher Options: Flipkart, BookMyShow, MakeMyTrip, and more
Enrolment is mandatory to access these benefits, and while monthly milestones are restrictive, they offer decent value for spends that would otherwise earn no rewards on most other cards.

Accor Plus Membership

A key differentiator, the Accor Plus membership offers:
Up to 50% discount on dining across Asia Pacific.
Accor ALL Silver status with 20 status nights credited annually.
Discounts on rooms via the "Red Hot Rooms" sale.
While it doesn't include complimentary stays or dining vouchers, the dining discount alone can save substantial amounts for frequent travellers. For example, a family meal abroad can see savings of up to 50%.

Taj Epicure Plus Membership

This benefit includes:
25% discount on food and beverages at Taj Hotels.
20% discount on Jiva Spa and Salon services.
Complimentary celebration cake during your birthday month.
Buy-one-get-one (1:1) offers at Taj Club Lounge (twice a year).
Taj loyalists can enjoy savings, particularly on dining and spa services. However, the lack of complimentary stays might disappoint users accustomed to richer travel benefits.

Golf Privileges

Historically, the Reserve Card was popular among golf enthusiasts, but recent changes have made this perk less accessible:
Benefit: Two complimentary games per month.
Spend Requirement: Rs 50,000 (two months prior).

Airport Lounge Access

The card provides limited domestic and international lounge access:
Domestic Access: 12 visits/year via Amex (3 visits per quarter).
International Access: 2 visits/year via Priority Pass.
While the addition of international access is welcome, the limits may fall short for frequent flyers. Additionally, the card no longer grants access to Amex lounges in Mumbai and Delhi due to high occupancy from Platinum Charge cardholders.

Other Benefits

EazyDiner Prime Membership: Offers 25% savings at partner restaurants.
Fuel Surcharge Waiver: Available at HP fuel pumps (subject to limits).
Reward Multiplier: Earn 3X rewards at select partner merchants.

Companion Card Status

Previously offered as a complimentary companion card with the Platinum Charge Card, this benefit has been discontinued for new customers. Existing cardholders can continue using it as long as the Platinum Charge Card remains active.

Retention Offers

American Express periodically offers renewal fee waivers or reduced fees based on spending patterns.
Fee Waiver: 100% waiver available for users with Rs 5 lakh+ annual spends or achieving specific spend targets (e.g., Rs 1-2 lakh within 90 days).
Spends Link Targets: Tailored offers encourage continued usage and loyalty.

Design and Aesthetics

The refreshed card design is visually appealing, although minor alignment issues with the cardholder's name may detract from its overall elegance.