When it comes to American Express in India, the card issuer offers some of the more premium products in the market, such as the American Express Platinum Card, and the American Express Centurion Card. The issuer has been on an overhaul spree for their cards recently, with 40 products to be refreshed in its global portfolio, per a reference made in the Q4 2023 Amex Earnings Call. These included the American Express Platinum Reserve Card in India, and the American Express Platinum Card has been refreshed in some of the other markets.

American Express Platinum Card refreshed

When refreshing any of its card products, American Express is not just a change of its card design. Instead, it looks at it from a more substantial perspective, such as adding new perks, changing the annual fee, and sometimes removing or restricting existing benefits. The next card in the queue for the refresh in India, after the refresh of the Platinum Reserve Credit Card, will be the American Express Platinum Card.

While details are scant at the moment, it seems that the card will gain three new memberships (perhaps Accor Plus, for one, after Platinum Reserve got it?). Remember, Amex had to let go of Shangri-La three years ago, so that gap in the portfolio needs to be filled in.

American Express adds a formal renewal benefit to the card.

So far, people used to hum and haw about renewing their American Express Platinum Card, wondering if they got enough value on the card or not. American Express has been great at providing value for the first year with massive bonuses on the card for signup, but I suspect they saw a lot of people cancelling their cards after year one. American Express now intends to solve that problem by adding a formal renewal benefit worth INR 35,000.

If you spent INR 20 Lakhs on the American Express Platinum Card during the prior membership year, you can pick vouchers worth INR 35,000 on the renewal of the card. The brands on offer are Taj Hotels, Reliance Brands Limited (Luxe Gift Card), and Postcard Hotels & Resorts vouchers.

Of course, this should be an additional 1.75% value provided to these members, provided they retain their cards and are “in the money” for American Express. The T&C is silent on the new benefit, whether it will be pro-rated for existing members or how it works out for them during a membership year. AEBC, I hope, adds a counter to the app, as they did for their American Express Platinum Travel Card, so that one knows if they’ve hit the milestone.

Complimentary memberships worth INR 45,000

American Express is partnering with Times Prime to curate a new membership pack of benefits, allowing for benefits across shopping, travel, health and wellness at brands such as Ajio Luxe, Uber, Starbucks, TUMI, and Kaya Skin Clinic. Amex also promises access to 40+ OTT and publications such as The Wall Street Journal, Amazon Prime (Lite), Disney+ Hotstar, etc. That is a swing for the coupon-book approach that Amex in other countries is heading into for their Platinum Card.

Three new complimentary Hotel memberships added

Amex has lost many of its partnerships over the years, such as ITC Club Culinaire and Shangri-La Golden Circle. Now, American Express is back to filling them up. Effective October 8, 2024, the following memberships will be offered to all American Express Platinum Card members.

• Accor Plus Traveller Tier. This membership, worth INR 11,800, allows you up to 50% off dining, member rates, and other offers at 1,000+ hotels in 20 countries. I’d consider it a replacement for ITC Club Culinaire rather than an elite-tier membership. The Platinum Reserve Card members received this membership earlier in the year, and now it is being added to the Platinum Card.
• The Postcard Hotels Sunshine Club – Platinum Tier. Homegrown luxury hotel chain The Postcard Hotels launched their loyalty programme a few months ago with three membership tiers. Now, American Express Platinum members will get the Platinum tier, which is the middle tier of the programme and earns you 7% of your spending as a reward, apart from complimentary laundry service at their hotels.
• I Prefer Titanium membership. The I Prefer Hotel Rewards from Preferred Travel Group, extends points for multiple redemption options and other complimentary benefits to members upon eligible stays at more than 600 participating hotels and resorts in over 80 countries. The Titanium membership is their top tier in terms of membership, and you get 50% bonus hotel loyalty points, member rates, room upgrades, offers and more.

Amex amends the rights of supplementary cardmembers to access the Centurion Lounges.

American Express is also implementing a new policy that allows supplementary card members to access Centurion Lounges. Until now, American Express has permitted each Platinum Cardmember to issue four supplemental cards, and each cardmember and their supplemental cardmembers can bring a +1 to the lounge. From October 8, 2024, supplementary cardmembers will continue to enjoy unlimited Centurion Lounge visits in New Delhi and Mumbai; however, their access to bring in a guest will be discontinued.

Amex will discontinue the birthday benefit.

A few years ago, during the pandemic, American Express added a benefit for their members, allowing them to stay at any Taj Hotel on the house. American Express sent them an INR 10,000 voucher for the birthday month. They are now abruptly cancelling the offer, with no clarity on whether the changes will be implemented after the renewal year or if someone signed for the card in their first year will also not receive the voucher (even once). It was a benefit whose time had come to be shunted, given that hotel prices are pretty high now (compared to the pandemic), and INR 10,000 won’t buy you a full-price stay, even for a night, at a Taj property.

Fee to go up 10% on October 8, 2024.

However, the refresh also means that the Platinum Card by American Express fee will increase from the current INR 60,000 + GST to INR 66,000 + GST for new sign-ups on or after October 8, 2024, and renewals made after that date.

So, if you have been on the fence about signing up, now is an excellent time to go ahead and sign up for the card. Using this link, you get an additional 10,000 Membership Rewards Points over and above the usual offer of INR 45,000 Taj Gift Vouchers now for the first year at least.

My Take

This is a well-rounded move from American Express, adding some perks and, in exchange, gaining a fee. The only change that matters here is a codified renewal benefit against a significant minimum spend during the year, which will encourage people to use the card more often. However, Amex keeps up with the times by adding modest perks but tooting them as if they are a big deal. If the Times Ace is going to be any good or not, time will tell. For me, I already have Accor Plus, and the other few are perks not for daily use but for luxury use (one-offs). AEBC also included an Apple discount, which closes out on October 2 and a Lalit benefit, but these are all frills, not the basics of the card, so I’ve kept them out of the assessment.

Bottomline

American Express is heading into a refresh of the American Express Platinum Card shortly. New features/memberships are added to the card (both for existing and new members), including dining and hotel tier memberships. It also means a higher fee effective October 8, 2024, though; hence, you should consider applying if you are considering applying for the Amex Platinum. Apply Here.

What do you make of the expected changes to the American Express Platinum Card?

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