Can Your Credit Card Portfolio Be Complete Without An Amex Card?

Experts weigh in on the advantages of owning an American Express card, but also highlight acceptance issues

- Shipra Singh

From entry-level cards with a paltry ₹1,000 joining fee to Amex Centurion, the most expensive card in India right now, American Express offers an enviable variety of credit cards.

In between, it offers highly rewarding, travel-focused cards and premium cards with lifestyle benefits for the rich.

But with heavyweights such as HDFC Infinia, Axis Atlas and Axis Magnus Burgundy serving up stiff competition, do you really need an Amex card?

Ashwin, a credit card enthusiast who tweets as @drgrudge, said given how elusive Infinia and Magnus Burgundy are, credit card users could consider getting an Amex card. "Both Infinia and Magnus Burgundy are hard to get. HDFC bank doesn't give Infinia easily, whereas Magnus Burgundy requires you to maintain a ₹30 lakh fixed deposit or ₹10 lakh savings account balance with Axis Bank. Moreover, only high spenders can get meaningful rewards on these cards. In comparison, Amex cards are easily accessible and, in my opinion, more rewarding at lower spending levels," he said.

Sumanta Mandal, founder of TechnoFino, a platform specializing in credit card reviews, agreed. "The base reward rate of both Infinia at 3.33% and Magnus Burgundy at 4.8% works out lower than those of Amex cards," he said.

What does Amex offer?

Amex credit cards are most rewarding for miles transfers and lifestyle benefits in the super-premium category, which includes cards such as Amex Platinum Charge and Centurion. Amex doesn't offer any cashback credit cards.