SBI Elite vs American express Platinum Reserve: Elite perks vs premium luxury
Individuals who embrace opulent lifestyles and covet top-tier privileges often gravitate toward premium credit cards, and American Express consistently ranks as a leading card issuer, renowned globally and especially in India. The American Express Platinum Reserve credit card, being their second-most exclusive offering, boasts a joining fee of INR 5,000 plus taxes and a renewal fee of INR 10,000. It’s replete with an abundance of high-end travel and lifestyle benefits, accompanied by a commendable rewards program.
On the other hand, the SBI Elite credit card, with a membership fee of INR 4,999 plus taxes, presents an array of value-added advantages spanning various spending categories. Cardholders can relish a generous welcome bonus, enjoy travel perks, access airport lounges, receive complimentary golf rounds, and more. Notably, the card shines with its modest forex markup fee, pegged at a mere 1.99% of the transaction amount.
Now, let’s delve into a detailed comparison of these two credit cards to discern which one emerges as the superior choice among them.
American Express Platinum Reserve Credit Card
American Express Platinum Reserve takes its place as the issuer’s second-highest tier card, distinct from the Platinum due to not being a Charge card. Its entry entails a fee of Rs. 5000, alongside applicable taxes, while the renewal comes at Rs. 10,000, plus taxes. The card extends a warm welcome with enticing benefits and provides an array of appealing travel privileges, featuring coveted memberships such as Taj InnerCircle and the Hotel Collection program. Furthermore, it doesn’t stop at travel; you also gain access to a variety of dining, movie, and golf perks when you wield this card
Features and Benefits
Here are the attributes and advantages presented by the Amex Platinum Reserve credit card:
Greetings Perk
Upon receiving the card, you’ll enjoy a welcoming bonus of 11,000 Membership reward points when you spend Rs. 30,000 or more within the initial 3 months.
Achievement Advantage
- When you spend Rs. 25,000 in a month, you have the privilege to select a voucher from renowned brands like Flipkart or BookMyShow, valued at Rs. 500.
- Additionally, for those who spend a minimum of Rs. 5 Lakhs throughout the year, an exclusive Taj Hotels stay voucher worth Rs. 10,000 becomes available.
Reward Rate
- You can convert your MR points into e-vouchers at the Amex shopping portal, utilize them for purchases at designated online retailers, and even offset your card bill with them Furthermore, you have the flexibility to transfer your MR points to various partner airline and hotel loyalty programs, enhancing your travel and accommodation options.
Travel Benefit
- Enjoy 12 complimentary domestic lounge accesses, with a maximum of 3 per quarter.
- Gain access to international lounges through the Priority Pass membership.
- Embrace the exclusive privileges of the Taj Epicure membership, entailing a 10% discount on hotel stays, flexible check-in and check-out times, and limitless Taj InnerCircle points.
- Unlock the potential for a $100 credit and room upgrades at leading hotels via the Hotel Collection program.
Movie and Dining Benefit
- Achieve a choice of either a Flipkart or BookMyShow voucher worth Rs. 500 by reaching a monthly spend of Rs. 25,000.
- Delight in the Taj Epicure membership, enabling dining experiences at Taj, Vivanta, and SeleQtions, complete with room upgrade vouchers, 50% off on dining, and happy hours at partnered bars.
- Enjoy the complimentary EazyDiner Prime membership, featuring 25% off at Prime restaurants, complimentary drinks, and priority reservations for Prime members, enhancing your culinary adventures.
Fairway Advantage
Indulge in the Fairway Advantage with 2 complimentary golf rounds each month, playable at premier golf courses throughout India, featuring a 100% green fee waiver. Additionally, primary and add-on cardholders can access golf lessons at discounted rates, enhancing your golfing experience.
24×7 Concierge Services
Experience the convenience of 24×7 Platinum concierge services offered with the card, providing assistance for:
- Dining reservations
- Flowers and gift deliveries
- Booking golf rounds
- Scheduling rejuvenating spa sessions
- Plus, a wide array of other services to cater to your needs and desires.
Insurance Benefit
The card provides valuable personal air accident coverage, with a substantial sum assured of Rs. 1 Crore. Additionally, it includes purchase protection coverage, a collaborative offering in partnership with ICICI Lombard General Insurance, safeguarding your purchases.
Fuel Surcharge
- Enjoy the advantage of zero fuel surcharge at HPCL fuel outlets for transactions up to Rs. 5000, ensuring cost savings.
- While refueling at IOCL and BPCL fuel outlets, a 1% fuel surcharge applies, and a 2.5% surcharge is levied at other non-partnered fuel stations.
Fees and Charges
Here are the fees and charges associated with the card:
- Joining fee: Rs. 5000 plus taxes
- Renewal fee: Rs. 10,000 plus taxes
- Interest rate: 3.5% per month
- Forex markup fee: 3.5% of the transaction amount
- Cash advance fee: 3.5% or a minimum amount of Rs. 250
Quickly Contrasting SBI Elite Credit Card and American Express Platinum Reserve Credit Card:
Certainly, here’s a side-by-side comparison of both credit cards:
| Category | SBI Elite Credit Card | American Express Platinum Reserve Credit Card |
| Joining Fee | Rs. 4,999 plus taxes | Rs. 5,000 plus taxes |
| Annual Fee | Renewal Fee: NA | Rs. 10,000 plus taxes |
| Welcome Benefit | 11,000 Membership reward points on spending Rs. 30,000 in 3 months | Decent welcome benefit |
| Reward Rate | Varied rewards across spend categories | Decent reward rate |
| Travel Benefits | Complimentary golf rounds, low forex markup fee | Extensive travel perks, Taj InnerCircle membership |
| Dining and Entertainment | Dining benefits, movie offers | Exclusive dining, movie, and golf privileges |
| Milestone Benefit | Flipkart/BookMyShow voucher for Rs. 25,000 monthly spend | Taj Hotels stay voucher for Rs. 5 Lakhs annual spend |
| Concierge Services | NA | 24×7 Platinum concierge services |
| Insurance | Personal air accident cover and purchase protection cover | NA |
| Fuel Surcharge | Fuel surcharge at partnered and non-partnered fuel outlets | Varied fuel surcharge rates |
| Fees and Charges | Joining fee, interest rate, forex markup fee, cash advance fee | Joining fee, renewal fee, interest rate, forex markup fee, cash advance fee |
In summary
The SBI Elite Credit Card and the American Express Platinum Reserve Credit Card each offer a range of unique features and benefits. Your choice between the two should align with your personal spending habits and priorities. The SBI Elite Credit Card is known for its diverse rewards and cost-effective forex transactions, while the American Express Platinum Reserve Credit Card stands out with its exclusive travel and lifestyle perks, including access to the prestigious Taj InnerCircle. Ultimately, your decision should be guided by your specific financial needs and preferences.
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