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American Express Platinum Travel Credit Card vs SBI Card MILES
On net annual value, American Express Platinum Travel comes out ahead for online shoppers, frequent travellers and high spenders (by up to ₹32,290 a year), and SBI Card MILES for everyday spenders (by ₹912 a year). American Express Platinum Travel isn't taking new applications, while SBI Card MILES is open to applications. SBI Card MILES costs ₹1,499 a year against ₹5,000. Figures as of .
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Who comes out ahead — by how you spend
Estimated net annual value for four typical spend profiles: the rewards each card earns on that spend (a merchant or portal bonus only on the share of spend it plausibly reaches), plus the perks and milestone bonuses that spender would use, less any annual fee the spend does not waive (with GST) and the forex markup on spending abroad. Lounge access carries no rupee value here.
| Spender | American Express Platinum Travel Credit Card | SBI Card MILES |
|---|---|---|
Everyday spender ≈ ₹40k/mo across groceries, bills, dining and fuel | −₹1,181/yr | −₹269/yr✓ +₹912/yr |
Online shopper ≈ ₹60k/mo, mostly e-commerce and subscriptions | ₹5,151/yr✓ +₹2,102/yr | ₹3,049/yr |
Frequent traveller ≈ ₹1.2L/mo with heavy travel and forex spend | ₹24,020/yr✓ +₹23,680/yr | ₹340/yr |
High spender ≈ ₹2.5L/mo across every category | ₹29,780/yr✓ +₹32,290/yr | −₹2,510/yr |
Not in these numbers: both include airport lounge access — real perks that can outweigh a small gap.
Illustrative profiles, not a personalised result — your categories decide the real winner. Run these two on my spending →
What your points are actually worth
A point's headline value means little without the earn rate behind it. Here's the real math — the value of a point by how you redeem it, the resulting return by category, and the net rupees for your own spend.
| Value of one point, by route | American Express Platinum Travel Credit CardAmex Membership Rewards | SBI Card MILESSBI Card Travel Credits |
|---|---|---|
| Cash / statement credit | ₹0.25 | — |
| Gift vouchers | ₹0.50 | ₹0.25 |
| Travel portal | — | ₹0.50 |
| Airline / hotel transfer | ₹0.805:4BEST | ₹1.076:1BEST |
Return by categoryearn rate × point value
Headline reward rate per category, before monthly caps. Switch the redemption strategy above to see how the picture shifts.
Your spend, head to head
Enter your monthly spend — net value is the annual rewards after the card fee, at each card's best realistic redemption (our recommender's model, caps and fee-waivers included).
Total ₹60,000/mo · ₹7,20,000/yr
Want the money-first pick across your whole wallet? Run the recommender →
| American Express Platinum Travel Credit Card | SBI Card MILES | |
|---|---|---|
| Fees | ||
| Joining fee | ₹5,000 | ₹1,499 |
| Annual fee | ₹5,000/yr | ₹1,499/yr ✓ |
| Annual fee — all-in (incl. 18% GST) | ₹5,900 | ₹1,769 ✓ |
| Fee waiver at | — | ₹6,00,000/yr spend |
| Welcome benefit | ~₹5,000 | ~₹750 |
| Rewards | ||
| Best everyday reward | 1% on everyday spends ✓ | 0.5% on Travel |
| Base rate — other spends | 1% ✓ | 0.25% |
| Travel | 1% ✓ | 0.5% |
| Charges | ||
| Forex markup | 3.5% | 3% ✓ |
| Finance charge | 3.5% p.m. | 3.75% p.m. |
| Cash advance | — | — |
| Add-on card | — | — |
| Perks | ||
| fuel waiver | — | ~₹2,000/yr · 1% fuel surcharge waiver on transactions of ₹500–₹3,000 at all petrol pumps, capped at ₹250 per statement cycle. Fuel spends still earn no Travel Credits |
| lounge access | ~₹4,000/yr · 2 domestic airport lounge visits per quarter, plus complimentary Priority Pass membership (enrolment fee waived; international visits chargeable). Since 1 Oct 2026 the visits need ₹1 lakh of eligible spend in the previous calendar quarter — ₹70,000 for the Oct–Dec 2026 quarter only | ~₹2,000/yr · 4 complimentary domestic airport lounge visits a year (max 2 in any quarter), plus 1 extra visit for every ₹1 lakh of spend, up to 8 more a year. Complimentary Priority Pass membership worth $99 free for the first 2 years — the membership only; each Priority Pass visit costs $27 plus taxes |
| milestone bonus | ~₹5,000/yr · A further 10,000 bonus MR points at ₹4 lakh annual spend (Platinum Travel Collection) | ~₹2,500/yr · 5,000 bonus Travel Credits on ₹5 lakh of annual spend |
| Eligibility | ||
| Min income | ₹50,000/mo | — |
| Min age | 18+ yrs | — |
| UPI linked | — | — |
| Expert rating | 4.6 / 5 ✓ | 3.8 / 5 |
Reward rates above are the realistic value you keep — points earned × what a point is worth at each card's own best redemption, before monthly caps — so cards with different point values compare fairly. Bank-portal accelerators (earned only by booking through the issuer's own portal, on a slice of spend) are bounded upside, listed separately here rather than blended into the everyday rates.
Which should you pick?
Choose the American Express Platinum Travel Credit Card if you want strong rewards on everyday spends. Consider the SBI Card MILES if you spend more on travel and prefer a lower fee. Your actual best card depends on how you spend — run your numbers below.
American Express Platinum Travel Credit Card vs SBI Card MILES — FAQs
Which has a lower annual fee, American Express Platinum Travel Credit Card or SBI Card MILES?
As of 24 Oct 2026, SBI Card MILES has the lower annual fee: ₹1,499 (₹1,769 with 18% GST), against ₹5,000 (₹5,900 with 18% GST) on American Express Platinum Travel. SBI Card MILES waives its fee after ₹6,00,000 of spend in a card year; American Express Platinum Travel has no spend-based waiver.
Do American Express Platinum Travel Credit Card and SBI Card MILES offer airport lounge access?
As of 24 Oct 2026, American Express Platinum Travel and SBI Card MILES both include airport lounge access, on different terms. American Express Platinum Travel lists 2 domestic visits a quarter at airport lounges, unlocked by ₹1,00,000 of spend in the previous quarter, plus a Priority Pass membership with paid visits. SBI Card MILES lists 4 domestic visits a year (up to 2 a quarter) at airport lounges, plus a Priority Pass membership with paid visits.
Which card has lower forex markup, American Express Platinum Travel Credit Card or SBI Card MILES?
As of 24 Oct 2026, SBI Card MILES has the lower forex markup: 3%, against 3.5% on American Express Platinum Travel. With 18% GST on the markup, ₹1,00,000 spent abroad costs about ₹3,540 extra on SBI Card MILES and ₹4,130 on American Express Platinum Travel, a ₹590 difference.
For a frequent traveller, is the American Express Platinum Travel Credit Card or SBI Card MILES better value?
On figures as of 24 Oct 2026, American Express Platinum Travel comes out ahead for a frequent traveller (about ₹1.2 lakh a month with heavy travel and forex spend), with a net annual value (rewards, perks and milestones, less the annual fee and forex markup) of ₹24,020 against ₹340 on SBI Card MILES, a ₹23,680 gap. That figure includes the forex markup on this traveller's spend abroad, where SBI Card MILES charges 3% against 3.5% on American Express Platinum Travel.
For everyday spending, which returns more: American Express Platinum Travel Credit Card or SBI Card MILES?
On figures as of 24 Oct 2026, SBI Card MILES comes out ahead for an everyday spender (about ₹40,000 a month across groceries, bills, dining and fuel), with a net annual value (rewards, perks and milestones, less the annual fee and forex markup) of −₹269 against −₹1,181 on American Express Platinum Travel, a ₹912 gap. Best everyday rates: 1% on everyday spends for American Express Platinum Travel, 0.5% on travel for SBI Card MILES.
Which is better, American Express Platinum Travel Credit Card or SBI Card MILES?
As of 24 Oct 2026, American Express Platinum Travel earns 1% on everyday spends at best, paid as Amex Membership Rewards, and SBI Card MILES earns 0.5% on travel at best, paid as SBI Card Travel Credits. American Express Platinum Travel comes out ahead on net annual value for online shoppers, frequent travellers and high spenders, and SBI Card MILES for everyday spenders. SBI Card MILES costs ₹1,499 a year against ₹5,000 and charges 3% on foreign-currency spend against 3.5%.