American Express Platinum Travel Credit Card Massive Devaluation 2026

The American Express Platinum Travel Credit Card, long considered one of the best “spend-it-all” cards for annual spends of up to ₹4 lakh, has now been officially devalued. Over the past week, rumours had been circulating on social media, including screenshots claiming that American Express executives had confirmed upcoming changes to the card’s milestone benefits. These speculations have now been put to rest, as American Express has officially communicated the changes to cardmembers.

Cardholders who previously found strong value in the Platinum Travel Credit Card, especially those who regularly spent to achieve milestone benefits, are likely to be disappointed. Under the revised structure, the card now offers lower overall value compared to earlier, making it less rewarding for the same level of spending.

Same Value, Higher Spending

All in all, the American Express Platinum Travel Credit Card will now require annual spending of up to ₹7 lakh to earn a similar number of Membership Rewards points that were earlier achievable with ₹4 lakh in spends. This effectively means cardholders must spend significantly more to receive the same rewards, marking a major devaluation in the overall value proposition of the card.

• Earlier, ₹4 lakh spending gave you the best overall value
• Now, you must spend ₹7 lakh to unlock similar benefits
• That’s ₹3 lakh extra spending for roughly the same reward outcome

Apart from the changes to the milestone benefits, there are no other major updates to the card.

Should You Keep This Card?

The American Express Platinum Travel Credit Card was once considered a strong all-rounder card that could be used for almost every type of spend. However, with the revised milestone structure, cardholders should now take a step back and reassess whether this card still makes sense for them.

Earlier, the ₹4 lakh milestone was achievable for many users and offered solid value. Under the new structure, similar value now requires spending up to ₹7 lakh, while the card continues to carry an annual fee of ₹5,000 and offers limited lifestyle benefits. For most users, this combination no longer provides a compelling value proposition.

It is safe to say that from 9 March 2026, the American Express Platinum Travel Credit Card may no longer remain a favourite for a large section of cardholders.

For those who are close to completing the existing milestones, it may still be worthwhile to accelerate spending before 9 March 2026 to lock in the current rewards. Once the new changes come into effect, continuing to direct high spends towards this card may not be the most rewarding choice.