Credit Card Review :Amex Platinum Card from City Bank Ltd.

Amex-Platinum-Card-city-bank

American Express commonly known as AMEX is a leading financial service provider in the world. City Bank Ltd. is the official provider of AMEX services in Bangladesh. From the beginning of its journey in 1983 City Bank Ltd. is providing top class retail financial services in the country. As a part of their continuous effort they brought Amex Platinum credit card for its customers. 

AMEX platinum card is a good choice for the travel lovers and for those who want welcome perks from the provider. This card comes with exclusive welcome offers including complimentary one night stay at The Palace Luxury Resort, 25000 bonus membership rewards, Tk. 15000.00 health checkup at Square Hospital etc. The reward point benefit of this card also good, you can shop and earn 5 times membership rewards points at selected groceries; and 2 times membership rewards points on all other purchases made.


The charges of AMEX Platinum card is quite high. But, the benefits are also competitive compared to the annual fee. The annual fee of the card is Tk. 25000, so if your income is not above the average you may face difficulties while using this card. Apart from that, almost all the cards in our country has a higher interest rate. For this card, it is 27 percent p.a.

Advantages you may get
-One of the top class welcome offer providers in the country. A cardholder can avail any one of the following :
  • Complimentary one night stay at The Palace Luxury Resort
  • Complimentary Companion Priority Pass Lounge Visits
  • 25,000 bonus membership rewards points
  • BDT 15,000 savings on Executive Health Checkup packages at Square Hospitals Ltd.
  • TK 15,000 savings on international flights at Saimon Overseas Ltd.
-It is a good choice for regular travelers. The travel benefits includes :
  • Complimentary Priority Pass membership and unlimited access to over 1200 Priority Pass airport lounges worldwide. Note: Priority pass can only be used at foreign airport lounges.
  • Complimentary unlimited exclusive access to the Platinum Lounge at Hazrat Shahjalal International Airport
  • Meet & Greet privileges at Hazrat Shahjalal International Airport, Dhaka.
  • Global Concierge Service, Travel Emergency & Medical Assistance abroad.
  • Enjoy up to 20% amazing savings from all the nominated sales outlets of Biman Bangladesh Airlines, Biman Holidays and at: (www.bimanholidays.com) (Please hyperlink it). Offer valid till 30 June, 2020. 
  • Enjoy complimentary one night stay at Tower Building in The Palace Luxury Resort after paying only for the first night on weekdays. Offer is not valid on Thu - Fri, Fri - Sat and in blackout days. Other Terms & Conditions may apply.
  • US Bangla Airlines: 10% savings on the base fare of both Business and Economy Class tickets for Domestic routes and 7% savings on the base fare of both Economy and Business Class tickets for International routes. Offer is valid till 15 March 2020. Other Terms & Conditions will apply.
  • 10% savings on system base fare for Dhaka-Kuala Lumpur-Dhaka return air tickets (economy and business class) from AirAsia offices, Bangladesh. Other Terms & Condition may apply. Offer valid till 31 December 2020. For details, please call: 01984555666.
  • Apart from that, all other others common benefits are also provided. 
Things to remember
-High annual charge (Tk. 25000)
-high late payment charge (Tk. 1000)
-No automatic waiver of annual charge depending on transaction
-Fewer acceptance of merchants that Visa and MasterCard 

Schedule of Charges 
Annual Fee
BDT 25,000
Supplementary Card Annual Fee
BDT 12,500
Card Replacement Fee
BDT 1,000
Captured Card Replacement Fee
BDT 350
Late Payment Charge
BDT 1000 or USD 20
Cash Advance Fee (Local) 
BDT 150 or 2.5%
Cash Advance Fee (International)4
USD 4 or 2.5%
Over Limit Charge
BDT 1500 or USD 25
Monthly Interest Rate (Purchase & Cash Advance)
2.25%
EMI Interest Rate (Monthly)
1.42%
Statement Retrieval Fee Per Statement
BDT 100
Cash Advance Limit
50% of Credit Limit
Out of Town Cheque Collection Fee
BDT 100
Markup
2%
City Shield Coverage Fee
0.35%
Balance Transfer Fee
1%
Monthly Balance Transfer Interest Rate
1.42%
Certificate Fee
BDT 300
CIB Fee6
BDT 150
SMS Notification Fee
BDT 200
Minimum Due for Monthly Repayment8
BDT 500 or USD 50 or 3% whichever is higher
Priority Pass Lounge Visit Bill (Per Visit Per Person)
USD 32
Priority Pass  Replacement  Fee
BDT 1,000
International Lounge Access Fee 
BDT 2000 (Adult) BDT 1000 (child)
Legal Notice Fee
BDT 250
Early Settlement Fee (Preferred EMI & FlexiLoan )
2% of the remaining balance
PIN Re-generation Fee
BDT 500
***15% VAT will be charges as applicable. 

Documents required for application 

Mandatory requirements for all individuals 
1. Signed and completed application form
2.Copy of National ID/NID
3.ETIN Certificate
4.Passport size photograph duly signed by the applicant
5.Completed CIB undertaking
6.Valid Passport
7.Office ID/Visiting Card

Requirement for salaried person 
1. Salary certificate
2. Bank statement

Requirement for self employed/ businessman 
1.Bank statement 
2.Copy of trade license
3.Memorandum of association, certificate of incorporation, latest Form X and XII for limited company
4.Copy of Title Deeds and rental agreement for landlords
5. BDMC copy for doctors.

The bottom line 
AMEX Platinum credit card is for the high-income holders. Your monthly income should be at least Tk. 300000.00 to become an eligible applicant for the card. This card gives you manifold facilities if  you do not bother about the higher charges. 

***Opinions explained here are the author’s alone, and have not been reviewed or approved by the bank. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without  any warranty. Check the bank’s website for the most current information.***

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