Yes you can use your American Express Platinum Reserve Credit Card to withdraw local currency from international ATMs but it comes with certain charges. Amex usually applies a cash advance fee of approximately 3.5% of the withdrawal amount, which may be refunded at any time. In addition the ATM provider may charge additional fees which can vary based on the bank and location.
The interest rate on cash withdrawals is usually higher than on regular purchases. American Express may charge an interest Rate of 36% to 42% per annum, beginning from the day of withdrawal** until the full amount is repaid. The longer you wait to repay cash advances the more it will cost you.
If you need local currency while traveling it’s best to explore other options like using your credit card for purchases or carrying a forex card to minimize fees. In case withdrawal of cash is unavoidable try to repay the amount as soon as possible to avoid high interest charges. Always check the latest terms and conditions with American Express before traveling.
Upon successful approval of your card, you will be awarded Membership Reward points which can be used for travel and other activities. You can take advantage of unique dining discounts as well as other exclusive advantages at Taj Hotels’ Taj Epicure Membership.
You may also get the benefit of more than 1,000 airport lounges across the world which are free to use.
Moreover, there is a ₹10,000 yearly and joining charge associated with the card.
Yes, the reward points on the American Express Platinum Reserve Credit Card can vary based on the spending category. You earn 4X Membership Rewards on international transactions and accelerated points on travel, dining, and luxury spends. To maximize points, use the card for high-value purchases, international spending, and Amex travel & lifestyle partners!