My parents had this card for a couple of years before they gave it up. Yes, on paper you get a lot of benefits that set-off and even exceed the annual fee, but the question is: 1. How often will you be able to avail these benefits 2. What are these benefits worth to you
Cool, you get vouchers for Taj/Marriott whatever their new partnership is. This is the main thing that is supposed to set-off the annual fee. Everything else is frivolous math just for marketing purposes. We may have had the Plat Charge, but we are distinctly upper middle class. We are content with a Treebo/Radisson Blu. We don't need a Taj/Marriott. So it was an issue of diminishing marginal utility: sure, nice benefit which is supposedly monetarily worth 45K, but that 45K itself is not worth it to us.
The only reason one should even consider Amex is because of their customer service, it truly is unparalleled. There are cheaper cards with similar benefits, but it takes so much effort to avail those benefits. The concierge service definitely works and Amex Plat concierge is the best one there is. But again, the point is, how often will you use it? It came in handy once when we had to travel at like an hour's notice and didn't have time to book the tickets ourselves but for the most part it's just a superfluous luxury, esp since in India, you can't even just tell them what to do and then disconnect. You need to stay on the line because no transactions can be made without the OTP.
P.S: Hadn't Amex stopped taking on new customers a few years back?
I would strongly advise you to hustle more and aim for the HDFC Infinia Card, which has more privileges in India.
Till then, aim for 2 cards - 1. Axis Bank-Vistara (F+B plus Airmiles and the Vistara benefits) and 2. SBICap Gold (for general kharche)
Amex Platinum is reasonable (I used to have it before they offered me the Centurion) but not for those who spend most of their time in India, as it is not widely accepted (unless you spend half of your time in SoBo or play golf half of the day on weekends like me - then go for it). The sole benefits that I liked were the Vistara 2-hour prior change facility, and the 50% suite discount at Oberoi (p.s: Associates ke liye suite book hona mushkil hai and 2-hour prior change ka kya hi faida unless you're a Partner). Vistara pe overall 15% off is also okay, but service fee aur surge karke baat ghoom phir ke aas paas aajati hai. Plus, when you're living a busy life, you really can't choose your flights on the basis of airline preference.
Outside India, the benefits are much better, and the benefits are actually realised.
For now, try to grab some outstation visits on the Law Firm's bill and master the Hotel Points (Taj, Oberoi, Accor, Hilton, or Marriott - pick a group and stay loyal) + Airmiles (join Vistara for Domestic ofc, KLM/Flying Blue for SkyTeam, United Airlines for Star Alliance - avoid unallied carriers like Spicejet, Akasa, TruJet, GoFirst, and ofc Indigo) and always look at small schemes with your card or airline and hotel group membership (for e.g. Kiehl's + Vistara collab).
All of the aforementioned advice is with the presumption that you have at least 18L post-tax and post-investment (stonks, FDs, and whatever you call it) disposable income if married and 12L if unmarried live in Bombay or Delhi.
1. How often will you be able to avail these benefits
2. What are these benefits worth to you
Cool, you get vouchers for Taj/Marriott whatever their new partnership is. This is the main thing that is supposed to set-off the annual fee. Everything else is frivolous math just for marketing purposes. We may have had the Plat Charge, but we are distinctly upper middle class. We are content with a Treebo/Radisson Blu. We don't need a Taj/Marriott. So it was an issue of diminishing marginal utility: sure, nice benefit which is supposedly monetarily worth 45K, but that 45K itself is not worth it to us.
The only reason one should even consider Amex is because of their customer service, it truly is unparalleled. There are cheaper cards with similar benefits, but it takes so much effort to avail those benefits. The concierge service definitely works and Amex Plat concierge is the best one there is. But again, the point is, how often will you use it? It came in handy once when we had to travel at like an hour's notice and didn't have time to book the tickets ourselves but for the most part it's just a superfluous luxury, esp since in India, you can't even just tell them what to do and then disconnect. You need to stay on the line because no transactions can be made without the OTP.
P.S: Hadn't Amex stopped taking on new customers a few years back?
I would strongly advise you to hustle more and aim for the HDFC Infinia Card, which has more privileges in India.
Till then, aim for 2 cards - 1. Axis Bank-Vistara (F+B plus Airmiles and the Vistara benefits) and 2. SBICap Gold (for general kharche)
Amex Platinum is reasonable (I used to have it before they offered me the Centurion) but not for those who spend most of their time in India, as it is not widely accepted (unless you spend half of your time in SoBo or play golf half of the day on weekends like me - then go for it). The sole benefits that I liked were the Vistara 2-hour prior change facility, and the 50% suite discount at Oberoi (p.s: Associates ke liye suite book hona mushkil hai and 2-hour prior change ka kya hi faida unless you're a Partner). Vistara pe overall 15% off is also okay, but service fee aur surge karke baat ghoom phir ke aas paas aajati hai. Plus, when you're living a busy life, you really can't choose your flights on the basis of airline preference.
Outside India, the benefits are much better, and the benefits are actually realised.
For now, try to grab some outstation visits on the Law Firm's bill and master the Hotel Points (Taj, Oberoi, Accor, Hilton, or Marriott - pick a group and stay loyal) + Airmiles (join Vistara for Domestic ofc, KLM/Flying Blue for SkyTeam, United Airlines for Star Alliance - avoid unallied carriers like Spicejet, Akasa, TruJet, GoFirst, and ofc Indigo) and always look at small schemes with your card or airline and hotel group membership (for e.g. Kiehl's + Vistara collab).
All of the aforementioned advice is with the presumption that you have at least 18L post-tax and post-investment (stonks, FDs, and whatever you call it) disposable income if married and 12L if unmarried live in Bombay or Delhi.
Cheers.