HDFC vs American Express Credit Cards: Range Against a Short, Expensive Shelf

HDFC Bank issues cards at almost every price from ₹99 upward. American Express India has nine cards on our list, and all but one of them cost ₹4,500 or more. This is a lopsided comparison, and the honest answer is that HDFC is the practical pick for most people. Amex has a narrow case.

Everyday spending

HDFC Millennia (₹1,000, 5% online under a ₹1,000 monthly cap), Swiggy (₹500, 10% on dining under a ₹1,500 cap), MoneyBack+ (₹500) and IndianOil (₹500, fuel) cover everyday categories. Amex's only low-fee option is SmartEarn at ₹495 (waived at ₹40,000), which lists 2% base earn and 10% on dining, travel, online and other categories, capped at ₹150 a month in each. The caps keep SmartEarn small. See the Amex SmartEarn review. For routine spending HDFC has far more to offer.

Mid-premium: Regalia Gold against Amex Gold and Platinum Travel

HDFC Regalia Gold costs ₹2,500 (waived at ₹4 lakh), lists 2% forex, 2.5% on travel and a ₹1,50,000 floor. Amex Gold costs ₹4,500 and lists 2% on dining and groceries with a ₹50,000 floor. Amex Platinum Travel costs ₹5,000, lists 2% base earn and a ₹50,000 floor. Amex's income floors are lower, which matters to a salaried professional at ₹60,000 a month. Regalia Gold is cheaper and has a lower forex rate. Our head-to-heads Amex Gold vs HDFC Regalia Gold and Amex Platinum Travel vs HDFC Regalia Gold go through the reward structures.

Membership Rewards against Millennia

Amex Membership Rewards costs ₹4,500 (waived at ₹1.5 lakh) with 2% base earn and a ₹37,500 floor. HDFC Millennia costs ₹1,000. Millennia caps its 5% online rate, while Amex pays a flat 2% on everything. A spender who goes over the cap each month may find the flat rate more predictable, but the fee difference is large. See the existing Amex Membership Rewards vs HDFC Millennia piece.

Super-premium and charge cards

HDFC Infinia (₹12,500, waived at ₹10 lakh, 3.33% base, 2% forex, ₹5,00,000 floor) and Diners Club Black (₹10,000, ₹2,50,000 floor) face Amex Platinum Reserve (₹10,000, waived at ₹10 lakh), Platinum Charge (₹66,000, 2.5% base earn) and Centurion (₹2,75,000, ₹10,00,000 floor). Amex's Reserve costs similar money to Diners Black, but Charge and Centurion are priced far above anything else here. Those two are for people who value the product itself. The Amex Platinum Reserve review and HDFC Diners Club Black review show what the fees buy.

Forex, lounges and co-brands

HDFC lists 2% on Infinia, Diners Black and Regalia Gold, and 3.5% on the entry cards. Amex lists 3.5% on every card except Centurion (2%). HDFC's premium cards are cheaper to use abroad, and the Amex cards are not.

HDFC Infinia and Diners Black list unlimited lounge access; Regalia Gold and IRCTC have counted visits; Marriott Bonvoy lists 12. Amex Platinum Reserve, Charge and Centurion list complimentary airport lounge access, while Membership Rewards and SmartEarn list none on our list. Lounge users should compare HDFC and Amex at the same price tier, not across tiers.

Amex has no co-brands on our list. HDFC has Swiggy, Tata Neu Plus, Shoppers Stop, Harley-Davidson, PhonePe and Pixel. HDFC's RuPay range lets you link a credit card to UPI; Amex has nothing equivalent.

The practical answer

Almost everyone: HDFC. Mid-income professional wanting a flat 2% with a lower income floor than Regalia Gold: Amex Membership Rewards or Platinum Travel. Ultra-high spender who wants a charge card: Amex Platinum Charge. Anyone else at the top: Infinia.

Guides and the Amex ranking

The HDFC credit cards guide and Amex credit cards guide give the full lists. Best Amex credit cards in India ranks the Amex range.