Amex Platinum Hike: Is It Still Worth ₹1.55 Lakh?

Headline: Amex Platinum Fee Soars: Benefits Check

 Amex Platinum Card’s annual fee jumps to ₹1.55 lakh in India. New lounge rules & credits analyzed—is the premium travel card still worth it?

The iconic American Express Platinum Card just became India’s most expensive premium credit card, with its annual fee skyrocketing 66% to ₹1.55 lakh (plus taxes). This massive hike, effective June 2024, has affluent travelers and finance experts debating: Do the elite travel benefits and lifestyle perks justify the cost? (67 words)

Sticker Shock: The New Fee Structure

• Old Fee: ₹93,000 + GST (₹109,860 total)
• New Fee: ₹1,55,000 + GST (₹1,82,900 total)
• Effective Date: June 2024 renewals/new applications
  (Source: American Express India official communication, June 2024)
  This positions the Amex Platinum far above rivals like the Axis Atlas (₹5,000 + GST) and HDFC Infinia (₹12,500 + GST).

Enhanced Benefits: What You Gain

Amex defends the hike with added/renewed credits:

1. ₹43,000 Taj Vouchers (up from ₹30,000)
2. ₹33,000 Oberoi Vouchers (new)
3. ₹28,000 International Dining Credit (via Culinaire)
4. ₹24,000 Airport Spends Credit
5. ₹10,000 BookMyShow Credits
   Total Annual Credits: ~₹1.38 lakh (before GST)

Lounge Access Crackdown & Restrictions

A major pain point emerges with stricter airport lounge access:

• Priority Pass: Reduced from unlimited to 10 free visits/year.
• Centurion Lounges: Free unlimited access only for primary cardholders. Guests now cost $50 each.
• Domestic Lounge Access: Limited to 4 visits/quarter via DreamFolks.
  Frequent flyers call this a “devaluation,” especially for family travel.

The Elite Status Perks

The card retains its premium positioning through exclusive hotel and travel statuses:

• Marriott Bonvoy Gold & Hilton Honors Gold status
• Radisson Rewards Premium status
• Car rental privileges with Avis, Hertz, and Europcar
• Global Dining Access by Resy reservations

Competing Premium Cards Offer Alternatives

Rivals leverage Amex’s hike to attract users:

• Axis Atlas: Earns 4,500 miles on ₹1.5 lakh monthly spend (worth ~₹9,000 in flights).
• HDFC Infinia: 5X rewards on flights, 3.3% reward rate.
• SC Ultimate: No fee, unlimited lounge access.
  Analysis: For non-luxury spenders, alternatives offer better value.

Verdict: Who Should Keep the Card?

The math works only for specific users:
✅ Frequent international travelers using all credits
✅ High-spenders at Taj/Oberoi hotels
✅ Status seekers valuing Platinum concierge services
🚫 Domestic travelers or infrequent flyers will find better options.

Future Outlook: Luxury Card Wars Intensify

Amex bets on India’s growing ultra-premium segment, but rivals may counter:

• Fee Waivers: HDFC/Bank of Baroda already offer first-year free on competing cards.
• Enhanced Partnerships: Expect more hotel/airline tie-ups.
• Lounge Expansions: Centurion Lounge in Delhi/Mumbai could soften access blow.
  As spending power rises, the battle for India’s elite cardholders just entered a costly new phase.