SBI Elite Credit Card vs American Express Platinum Reserve Credit Card
A joining fee of Rs. 5000 plus taxes and a renewal fee of Rs. 10,000 are charged by the American Express Platinum Reserve credit card, which is its second-most premium offering, preferred by those who live a lavish lifestyle and seek the best privileges. Elite-level travel and other lifestyle perks are provided by the card, and a decent reward rate is offered.
The SBI Elite credit card, which charges Rs. 4999 plus taxes from the cardholder, has various value-added benefits across multiple spend categories. With the card, a decent welcome benefit, travel perks, lounge access, complimentary golf rounds, and more are received. One standout feature of the card is that the forex markup fee of 1.99% of the transaction amount is charged.
American Express Platinum Reserve Credit Card
The American Express Platinum Reserve, the card issuer’s second-most premium offering after the Platinum, is not a Charge card. A joining fee of Rs. 5000 plus taxes and a renewal fee of Rs. 10,000 plus taxes are imposed by the card. A decent welcome benefit is provided by the card, and nice travel perks, including the Taj InnerCircle membership and the Hotel Collection program, are offered. Furthermore, several dining, movie, and golf benefits are even provided with the card.
Benefits
The following are the features and benefits offered by the Amex Platinum Reserve credit card –
Welcome Benefit
As a welcome benefit, the card offers bonus 11,000 Membership reward points on spending Rs. 30,000 or more within 3 months of getting the card.
Milestone Benefit
A voucher worth Rs. 500 from Flipkart, BookMyShow, or other brands can be chosen on spending Rs. 25,000 in a month. A Taj Hotels stay voucher worth Rs. 10,000 can be obtained on spending a minimum of Rs. 5 Lakhs in the year.
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.
Travel Benefit
12 complimentary domestic lounge access, with a maximum of 3 per quarter, are provided. International lounge access is offered through the Priority Pass membership. Exclusive privileges, including 10% off on hotel stays, late check-in check-out, and unlimited Taj InnerCircle points, are included in the Taj Epicure membership. A $100 credit and room upgrade at top hotels are offered through the Hotel Collection program.
Fuel Surcharge
Zero fuel surcharge is applied at HPCL fuel outlets on transactions up to Rs. 5000. A 1% fuel surcharge is imposed at IOCL and BPCL fuel outlets, and a 2.5% surcharge is levied at other outlets.
Fees and Charges
The joining fee for the card is Rs. 5000 plus taxes, and the renewal fee is Rs. 10,000 plus taxes. The interest rate on the card is 3.5% per month. The forex markup fee on the card is 3.5% of the transaction amount. The cash advance fee on the card is 3.5% or a minimum amount of Rs. 250.
SBI Elite Credit Card
A joining fee of Rs. 4999 is charged from the cardholders for the Elite credit card, which is issued by SBI and is only surpassed by the SBI Aurum credit card in terms of features and benefits. Various top-notch perks, including domestic and international lounge access, shopping vouchers, complimentary movie tickets, and more, are offered by the card. The reward rate on the card is also quite high, and the card is available in three variants – Mastercard, Visa, and American Express.
The following are the features and benefits associated with the card –
Welcome Benefit
Gift vouchers worth Rs. 5000 from any one of Shoppers Stop, Yatra, Hush Puppies, Pantaloons, Aditya Birla, etc., can be obtained
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 –
- Complimentary Club Vistara Silver tier and Trident Privilege Red Tier membership
- 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 offering access to VIP privileges and upgrades at hotels in India and abroad
Fuel Surcharge Waiver
A 1% fuel surcharge waiver can be obtained on transactions between Rs. 500 to Rs. 4000 with the card, with a maximum benefit capped at Rs. 250.
Fees and Charges
The joining and renewal fee on the card is Rs. 4999 plus taxes, which can be waived off on spending Rs. 10 Lakhs or more in the year. The interest rate on the credit card is 3.5% per month. A forex markup fee of 1.99% of the transaction amount is charged by the card. The cash advance fee on the card is 2.5% of the amount or Rs. 500, whichever is higher.
SBI Elite Credit Card vs American Express Platinum Reserve Credit Card – Comparison
| Category | SBI Elite Credit Card | American Express Platinum Credit Card |
| Joining/Annual Fees | Rs. 4999 plus taxes | Rs. 5000 plus taxes |
| Welcome Benefits | Rs. 5000 worth gift vouchers from Yatra, Hush Puppies, Shoppers Stop, or Pantaloons, etc. | Bonus 11,000 MR Points on spending Rs. 30,000 within three months of getting the card |
| Reward Earning | 2 RPs per Rs. 100 spent on retail 5x RPs on departmental stores, dining, grocery, etc. | 1 MR Point per Rs. 50 spent except on select few spend categories |
| Reward Redemption | RPs can be redeemed against different choices on the SBI Card website or against the outstanding card balance | MR points can be redeemed against shopping vouchers, offline purchases, transfer to airmiles, card bill payment, etc. |
| Movie and Dining Benefits | Complimentary movie tickets per month with max benefit capped at Rs. 250 per ticket. Dining offers with 25% discount at partner restaurants | Rs. 500 worth vouchers from BookMyShow on spending Rs. 25,000 monthly Complimentary Taj Epicure membership Complimentary EazyDiner Prime membersh |
| Travel Benefits | Complimentary CV Silver tier membership, complimentary Trident Privilege Red Tier membership 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 | NA | Renewal fee waiver on spending Rs. 10 Lakhs or above |
Summary
For individuals seeking a premium credit card, both the SBI Elite and the American Express Platinum Reserve are excellent options. Both cards come with a joining fee of Rs. 4999 plus taxes, although the Amex Platinum Reserve incurs a higher renewal fee of Rs. 10,000 from the second year onwards. When it comes to the perks and benefits offered by these cards, there is no shortage in either of them.
With the Platinum Reserve card, a decent reward rate and various travel benefits, including lounge access and complimentary Taj Epicure membership, are provided. Complimentary golf rounds and other premium privileges can also be enjoyed with this card. The card is great, but the SBI Elite card is recommended for several reasons.
The card has the same joining and renewal fee of Rs. 4999 plus taxes and offers CV Silver Tier and Trident Privilege Red Tier memberships. More golf rounds, lounge access, and other benefits are also available. The best part is that those who regularly make foreign currency spends with their card can benefit from the 1.99% forex markup fee on the card.
