People who live a lavish lifestyle and want the best privileges prefer to get a premium credit card. American Express is one of the top card issuers, not just in India but the whole world. The Platinum Reserve credit card is its second-most premium offering and charges a joining/renewal fee of ₹10,000 plus taxes. There is no shortage of elite-level travel and other lifestyle perks with the card, and the reward rate is decent.
The SBI Elite credit card charges ₹4,999 plus taxes from the cardholder and offers various value-added benefits across multiple spend categories. It offers a decent welcome benefit, travel perks, lounge access, complimentary golf rounds, and more. One standout feature is the low forex markup fee of 1.99% of the transaction amount.
Read on to see how these cards compare and which is the better option.
American Express Platinum Reserve Credit Card
The American Express Platinum Reserve is the card issuer’s second-most premium offering after the Platinum Charge Card, but this one is not a Charge card. The card has a joining/annual fee of ₹10,000 plus taxes. The card has a decent welcome benefit and offers nice travel perks, including the Taj Epicure membership and the Hotel Collection program. In addition, you get several dining, movie, and golf benefits with the card.
The following are the features and benefits offered by the Amex Platinum Reserve credit card –
Welcome Benefit
As a welcome benefit, the card offers a bonus of 11,000 Membership reward points on spending Rs. 30,000 or more within 3 months of getting the card.
Milestone Benefit
On spending ₹50,000 in a month, you can choose a Flipkart, BookMyShow, or other brands voucher worth ₹1,000.
Reward Rate
Earn 1 MR point per Rs. 50 spent with the card. Insurance, fuel, cash, wallet reloads, EMI spends, etc., do not accrue reward points.
Reward Redemption
- The MR points can be redeemed for e-vouchers at the Amex shopping portal, purchases at select online stores, or card bill payments.
- The MR points can be transferred to Airmiles of partner airline and hotel programs.
Travel Benefit
- 12 complimentary domestic lounge access, maximum 3 per quarter
- Priority Pass membership offering international lounge access
- Taj Epicure membership offers exclusive privileges that include 10% off on hotel stays, late check-in and check-out, and unlimited Taj InnerCircle points
- $100 credit and a room upgrade at top hotels through the Hotel Collection program.
Movie and Dining Benefit
- Taj Epicure membership offers discounts at spas, bars, restaurants, and other amenities at Taj, Vivanta, and SeleQtions. It also includes room upgrade vouchers, 50% off dining, and happy hours at partner bars.
- Complimentary EazyDiner Prime membership offers 25% off at Prime restaurants, complimentary drinks, and preferential reservations for Prime members.
Golf Benefit
2 complimentary golf rounds per month at top golf courses across India with 100% green fee waiver. Also, golf lessons are at discounted rates for primary and add-on cardholders.
24×7 Concierge Services
Get 24×7 Platinum concierge services with the card and get assistance with –
- Dining reservations
- Flowers and gift delivery
- Golf rounds
- Spa sessions and more
Insurance Benefit
The card offers personal air accident cover worth Rs. 1 Crore and purchase protection cover offered in partnership with ICICI Lombard General Insurance.
Fuel Surcharge
- Zero fuel surcharge at HPCL fuel outlets on transactions up to ₹5,000
- 1% fuel surcharge at IOCL and BPCL fuel outlets and 2.5% surcharge at other outlets
SBI Elite Credit Card
A premium card issued by SBI, the Elite credit card charges a joining fee of ₹4,999 from the cardholders and is only behind the SBI Aurum credit card in terms of features and benefits. There are various top-notch perks offered by the card that include domestic and international lounge access, shopping vouchers, complimentary movie tickets, and more. Even the reward rate on the card is quite high, and the card comes in three variants – Mastercard, Visa, and American Express.
The following are the features and benefits associated with the card –
Welcome Benefit
Rs. 5000 worth of gift vouchers from any one of Shoppers Stop, Yatra, Hush Puppies, Pantaloons, Aditya Birla, etc.
Milestone Benefit
Get up to 50,000 bonus reward points on reaching the target spend milestones with the card –
- 3 Lakhs – 10,000 bonus RPs
- 4 Lakhs – 10,000 bonus RPs
- 5 Lakhs – 15,000 bonus RPs
- 8 Lakhs – 15,000 bonus RPs
Travel Benefits
The card offers the following travel benefits to the cardholder –
- 2 complimentary domestic lounge access per quarter
- 6 complimentary international lounge access, max 2 per quarter, with the Priority Pass
- 15% off at the best available price on F&B, Lalit hotels
- 10% discount on Hertz and 35% off on Avis car rentals
- Tablet Plus membership offers access to VIP privileges and upgrades at hotels in India and abroad
Movie and Dining Benefit
- Discount on movie tickets per month, with a maximum benefit of Rs. 6000 per year and Rs. 250 per movie ticket
- Up to 25% discount at partner restaurants with the Amex card variant
Golf Benefit
Up to 50% off on golf games and 4 complimentary green fee rounds, along with one complimentary golf lesson per month.
Renewal Fee Waiver
The credit card renewal fee can be waived if you spend Rs. 10 Lakhs or more with the card in the previous year.
Fuel Surcharge Waiver
With the card, you can get a 1% fuel surcharge waiver on transactions between Rs. 500 and Rs. 4000, with a maximum benefit of Rs. 250.
SBI Elite Vs American Express Platinum Reserve Credit Card – Quick Comparison
The following table features a side-by-side comparison of both the credit cards –
| Category | SBI Elite Credit Card | American Express Platinum Credit Card |
| Joining/Annual Fees | ₹4,999 + GST | ₹10,000 + GST |
| Welcome Benefits | ₹5,000 worth of gift vouchers from Yatra, Hush Puppies, Shoppers Stop, Pantaloons, etc. | Bonus 11,000 MR Points on spending ₹30,000 within three months of getting the card |
| Reward Earning | 10 Reward Points/₹100 Spent on Dining, Grocery, and Departmental Stores (~2.5%). 2 Reward Points/₹100 on All Other Spends (~0.5%) | 1 MR Point per Rs. 50 spent except on a select few spend categories |
| Reward Redemption | Redeem Reward Points Against Gift Vouchers, Cash Credit, and More. 1 Reward Point = ₹0.25 | MR points can be redeemed for shopping vouchers, offline purchases, air miles transfers, card bill payments, and more. |
| Movie and Dining Benefits | Complimentary movie tickets per month with max benefit capped at Rs. 250 per ticket. Dining offers with a 25% discount at partner restaurants. | Complimentary Membership of EazyDiner Prime |
| Travel Benefits | Complimentary domestic and international lounge access | Complimentary domestic as well as international lounge access with the Priority Pass, Complimentary Taj Epicure membership |
| Renewal Fee Waiver | Renewal Fee Waived on Spends of ₹10 Lakh or More | Renewal Fee Waived on Spends of ₹10 Lakh or More |
Bottom Line
For individuals looking for a premium credit card, the SBI Elite and the American Express Platinum Reserve are great options. These cards offer a wide range of perks and benefits.
With the Platinum Reserve card, you get a decent reward rate and various travel benefits, including lounge access and complimentary Taj Epicure membership. You can also enjoy complimentary golf rounds and other premium privileges. The card is great, but we recommend the SBI Elite card for several reasons. You also get a larger number of golf rounds, lounge access, etc. The best part is that people who regularly spend foreign currency with their card can benefit from the 1.99% forex markup fee on the card.
Let us know which card you prefer between the two in the comments below.