SBI vs American Express Credit Cards: A Few Costly Cards Against a Full Shelf

This is a lopsided comparison. American Express has nine cards on our list, most of them with fees above ₹4,000 and several above ₹10,000. SBI Card has dozens, starting at ₹250. Amex wins only in a narrow band at the top.

Cards for ordinary spending

SBI's entry cards cost ₹499 or ₹999, and the range covers online shopping (Cashback, SimplyCLICK), groceries and dining (SimplySAVE), fuel (BPCL) and travel (IRCTC). Amex's only card under ₹1,000 is SmartEarn at ₹495, waived at ₹40,000, which lists 2% base earn and 10% on dining, travel, online and other categories, though each category is capped at ₹150 a month. The cap makes SmartEarn a light-use card. Our Amex SmartEarn review explains how the cap works. If you want a card for everyday spending, SBI has more choice at every price.

The mid-range, where fees climb

Amex Membership Rewards costs ₹4,500 (waived at ₹1.5 lakh) with 2% base earn and a ₹37,500 monthly income floor. Gold is ₹4,500 as well, with 2% on dining and groceries and a ₹50,000 floor. SBI Elite costs ₹4,999 and lists 2.5% on dining and groceries, 8 domestic and 6 international lounge visits and 1.99% forex. The Amex mid-tier cards list 3.5% forex and no lounge visits on our list. For the same money, SBI Elite delivers more benefits that can be counted. The Amex Membership Rewards review covers what the points can be redeemed for.

Travel and lounges

Amex Platinum Travel costs ₹5,000 with 2% base earn and a ₹50,000 floor. Platinum Reserve is ₹10,000, waived at ₹10 lakh. SBI's travel cards are Miles PRIME (₹2,999), Miles ELITE (₹4,999) and the airline co-brands. Amex's travel cards earn more on a flat basis, whereas SBI's list per-category travel rates up to 7% on the IndiGo Elite. If you want a simple flat rate and are happy to pay, Amex Platinum Travel is competitive. See the Amex Platinum Travel review.

Charge cards and the top end

Amex's Platinum Charge costs ₹66,000, lists 2.5% base earn and 2.5% on travel and dining, and asks for a monthly income of about ₹2,08,333. Platinum Corporate is ₹40,000. Centurion costs ₹2,75,000. SBI's top cards are Aurum and KrisFlyer Apex, both ₹9,999. The cost gap is huge. The Amex cards are for people who value the card itself and its perks; the SBI cards deliver far more value per rupee of fee. See the Platinum Charge review.

Income floors and forex

Amex lists ₹37,500 a month for Membership Rewards and SmartEarn and ₹50,000 for most Platinum and Gold cards. SBI's entry floor is ₹10,000, rising to ₹60,000 for Elite. Applicants near the lower end of the income range will find only SBI open to them.

Amex cards on our list list 3.5% forex, apart from Centurion at 2%. SBI lists 3.5% on most cards and 1.99% on Elite, Miles ELITE and Aurum. Neither bank is a good choice on forex at the entry level, and SBI is cheaper at the top.

When Amex is worth the fee

If you are on a moderate income, or want a fuel, shopping or airline co-brand, SBI is the clear choice. If you have a high income and already want an Amex for its rewards ecosystem, Platinum Travel or Reserve are reasonable additions. For most people, a single SBI card plus a second from another issuer is a simpler and cheaper setup than paying a high Amex fee.

Full lineups and a related Amex piece

Find the full lineups in the SBI credit cards guide and the Amex credit cards guide. If you want an Amex set against a private rival, Amex Gold vs HDFC Regalia Gold is worth reading.