Amex Platinum Travel Devaluation (March 2026): Still the Best ₹7 Lakh Credit Card in India?
Amex has reshaped Platinum Travel milestones from 9 March 2026. Here’s what changed, the real value at ₹7L spend, and why the card still holds its ground versus popular alternatives.
American Express recently announced changes to the Platinum Travel Credit Card spend milestones, and predictably the word ‘devaluation’ started doing the rounds. But once you go past the headlines and run the numbers, the story is more balanced than it looks.
This post breaks down what changed, the value you’re actually losing (and gaining), and why Amex Platinum Travel can still be one of the best milestone-driven cards for ₹6–7 lakh annual spenders in India.
What Was the Old Milestone Structure?
Until now, Platinum Travel had two headline annual spend milestones that made it especially rewarding for mid-to-high spenders:
₹1.9 lakh spend
- 7,500 MR points (automatic)
- 7,500 MR bonus points (typically via call/chat)
- Total: 15,000 MR points
₹4 lakh spend
- 10,000 MR points (automatic)
- 15,000 MR bonus points (typically via call/chat)
- ₹10,000 Taj Experiences e-Gift Card
- Total: 25,000 MR points + Taj voucher
This structure front-loaded a large chunk of value at ₹4L, which is why many people viewed Platinum Travel as a “sweet spot” card.
What’s Changing From 9 March 2026?
Amex has restructured milestones and simplified bonus issuance (no more calling customer care for bonus credit).
New milestones
- ₹1.9 lakh spend: 7,500 MR bonus points
- ₹4 lakh spend: 10,000 MR bonus points
- ₹7 lakh spend: 22,500 MR bonus points + ₹10,000 Taj Experiences e-Gift Card
The quality-of-life improvement is real: bonus points are credited automatically. The trade-off is that Amex is clearly nudging serious earners toward ₹7L annual spend to unlock the full milestone value.
So… Is This Really a Devaluation?
Yes—but it’s structured, not destructive. A ₹4L spender sees less milestone upside than before, while the ₹7L milestone becomes the new “full value” target.
Real-World Value at ₹7 Lakh Spend
At ₹7L spend, you get:
- 22,500 Membership Rewards (MR) bonus points
- ₹10,000 Taj Experiences e-Gift Card
Conservative valuation
If you redeem MR points smartly (for example via hotel and airline partners, especially during transfer promotions), a ₹0.50 per point valuation is a reasonable baseline for many users.
| Component | Value basis | Estimated value |
|---|---|---|
| 22,500 MR points | ₹0.50 per point | ₹11,250 |
| Taj voucher | Face value | ₹10,000 |
Total milestone value: ~₹21,250 (and that’s on top of the regular points you earn on spend).
Why Amex Platinum Travel Still Beats Most Cards
1) Flexible spend categories
A major advantage is that Platinum Travel can be used across broad everyday categories—like insurance, fuel, utilities, and routine household expenses—where many cards either exclude rewards or cap them heavily. This makes ₹7L annual spend more achievable than it sounds on paper.
2) Quick comparison: Axis Atlas (₹7.5L spend)
A popular comparison point is Axis Atlas. At ₹7.5L spend, many users target milestone value via partner conversions (for example Accor). The headline numbers can look similar, but Platinum Travel holds its ground well thanks to the Taj voucher’s strong India usability and the broader redemption ecosystem around MR points.
3) The Amex ecosystem advantage
- MR transfers (hotel + airline partners) give you multiple redemption paths.
- Transfer promos can meaningfully lift value beyond “base” valuations.
- Consistent support and reliability matter more than spreadsheets suggest.
Who Should Still Get This Card?
- You spend ~₹6–7L annually across mixed everyday categories.
- You value hotel redemptions (Marriott / Taj) and travel-style rewards.
- You want predictable milestone rewards without juggling multiple cards.
Who Might Skip It?
- Low spenders under ~₹4L annually.
- Cashback-only users who don’t value points ecosystems.
- People who won’t use travel or hotel benefits at all.
Final Verdict
Yes, Platinum Travel has been devalued. But the ₹7L milestone still delivers strong, usable value, and few cards offer the same mix of spend flexibility and premium reward paths. Even after these changes, it remains one of the best cards in the ₹7 lakh segment for the right user profile.