American Express goes for Platinum

American Express today launched a premium service, The Platinum Club, aimed at the rapidly growing affluent consumer segment in India.

The membership to the platinum club is available for a lifetime fee of Rs 50,000, which would also give members an American Express Platinum Credit Card.

The leading premium cards issuer said members would also be able to avail benefits of various clubs such as the platinum gourmet club, platinum travel club, platinum wellness club, and others, in addition to the platinum rewards programme.

The rewards programme would allow members to enjoy premium gifts, complimentary travel and an opportunity to earn up to 10 times the membership reward points at Platinum Partner outlets.

Announcing the launch, American Express ASEAN and south Asia senior vice president Atul Mathur said: "We have partnered with Kingfisher Airlines, The Taj Group of Hotels, VLCC and more than 250 boutique establishments including the country's leading restaurants, retail stores and spas for offering these benefits."

"With an annual credit spend of approximately Rs 3.60 lakh, which is ten times that of the average consumer - high spending affluent consumers in India have an informed willingness to use credit to achieve their aspirations," Robert Hennin, vice-president and country manager American Express said.

At the launch, Hennin also announced that Abhishek Bachchan would be the first member of the club and would endorse the offering through an extensive marketing campaign.