American Express Platinum Card

The American Express Platinum Card is one of the leading travel rewards credit cards in Canada. With best-in-class travel perks, the ability to earn powerful Membership Rewards points, and the premium allure of a flashy metal finish, the Platinum Card should have a place in every frequent traveller’s wallet.

Despite the $799 annual fee (which is the highest among major Canadian credit cards), the card’s welcome bonus and ongoing benefits might tempt you to keep it for years to come.

Bonuses & Fees

The Platinum Card is currently offering a welcome bonus of up to 140,000 Membership Rewards points. The points are earned as follows:

• 100,000 MR points upon spending $10,000 in the first three months
• 40,000 MR points upon making a purchase in months 14–17 as a cardholder

The annual fee of $799 is one of the highest around, although the Platinum Card offers a $200 travel credit once per anniversary year, and a $200 annual dining credit once per calendar year, making the “effective” annual fee $399 per year.

There are also referral bonuses as a Platinum cardholder if you refer your friends or family to the card. You’ll earn 10,000 MR points for every referral you make, up to a maximum of 225,000 MR per calendar year.

Earning Rewards

On daily spending, the Platinum Card allows you to earn:

• 2 MR points per dollar spent on travel and dining purchases in Canada
  • Earn 1 additional MR per dollar spent when booking your hotel or car rental through Amex Travel Online
• 1 MR point per dollar spent on all other purchases

The 2x return on dining in Canada is competitive with other travel cards, although keep in mind that the American Express Cobalt Card offers 5 MR points per dollar spent on the same purchases.

Likewise, the 2x return on travel is good, although the same benefit is offered by the Gold Rewards Card as well.

Lastly, the 1x return on all other purchases isn’t outstanding, but since the card earns the powerful Membership Rewards points, you have plenty of options to redeem them.

Overall, the Platinum Card’s tiered earning rate is quite standard when you look at it as a whole, especially since it matches or can evcen be bettered with other, less costly cards in the Amex portfolio.

Redeeming Rewards

The Membership Rewards program offers outstanding redemption opportunities. This is primarily because it’s a flexible, transferable rewards currency.

You can transfer your MR points to these airline and hotel programs at the following rates:

• Aeroplan at a 1:1 ratio
• British Airways Executive Club at a 1:1 ratio
• Cathay Pacific Asia Miles
• Air France KLM Flying Blue) at a 1:0.75 ratio
• Delta SkyMiles at a 1:0.75 ratio
• Etihad Guest at a 1:0.75 ratio
• Marriott Bonvoy at a 1:1.2 ratio
• Hilton Honors at a 1:1 ratio

Furthermore, you can redeem MR points directly for flights through the Amex Fixed Points Travel reward chart, although these are limited to round-trip flights departing from Canada.

Lastly, you have the option of redeeming MR points directly against travel purchases at a rate of 1 cent per point (cpp), although this is typically not recommended, as the value pales in comparison to what you could get by booking flights through Aeroplan, Avios, or even the Fixed Points Travel chart.

Perks & Benefits

What really sets the Platinum Card apart, though, and what is meant to justify its hefty $799 annual fee, is the outstanding travel benefits. 

Chief among these is the complimentary airport lounge access at over 1,300 lounges worldwide through the American Express Global Lounge Collection.

The American Express Global Lounge Collection includes Plaza Premium Lounges, Delta Sky Club, Airspace Lounges, Escape Lounges – The Centurion Studio Partner, Executive Lounges by Swissport, and most notable American Express’ own Centurion Lounges, plus Priority Pass membership.

Priority Pass membership grants you (and one guest) access to more than 600 Priority Pass airport lounges all over the world for free. Most major airports have a Priority Pass lounge, meaning that you’ll rarely be without a relaxing space before your flight to grab a drink or a quick meal, away from the crowds at the gate.

American Express’ Centurion Lounges are some of the more exclusive lounges available, in part because you can only access them by holding one of the few eligible American Express cards, alongside a boarding pass for the same day.

Centurion Lounges are some of the best lounges that your Platinum credit card can unlock, and you can expect top-quality food and drink inspired by regional tastes, plus comfortable interiors that showcase local design principles. Additionally, the Centurion Lounge benefit comes with a generous guest policy that allows you, as a Platinum Card holder, to bring in two guests for free!

Beyond airport lounge access, as a Platinum cardholder, you’ll also be automatically bestowed with Marriott Gold Elite status and Hilton Gold status. These fast-tracked membership levels come with their own series of valuable benefits when staying at each chain.

Another outstanding benefit is access to American Express’s Fine Hotels & Resorts program, which allows you to book special rates at select luxury hotels around the world. These rates include perks such as suite upgrades, daily breakfast for two, and benefits unique to each property (examples include a private airport transfer or a spa & dining credit). The FHR program often pops up with third-night-free or fourth-night-free offers as well, meaning that there’s plenty of good deals to be had.

As a Platinum cardholder, you’ll also have access to Amex’s International Airline Program which offers discounted airfares on premium economy, business class, and first class tickets for you and your travel companions on a number of participating airlines.

Among many other bells and whistles, the Platinum Card also offers priority security lane access at Toronto Pearson Airport, upgrades and discounts on car rentals through upgraded status to Hertz Gold Plus Rewards Five Star status and Avis Preferred status, and of course the aforementioned $200 annual travel credit that can be used towards any flight, hotel, car rental, or vacation booking made with Amex’s Platinum Travel Service.

A new benefit introduced to the card in 2023 is the annual $200 dining credit, which can be used at some of Canada’s top restaurants. You’ll need to make a purchase of $200 or more at an eligible restaurant with your Platinum Card.

Whereas the dining credit renewed every calendar year, the travel credit renews with your card’s anniversary date.

The Platinum Concierge is also worth a mention. They’re a “global concierge” team that’s able to help you out with any and all requests you may have, wherever you are. For example, they can help make difficult restaurant bookings or last-minute flower orders. They aren’t miracle workers, so don’t expect them to be able to snag a spot for you at the hottest restaurant in town for tomorrow evening, but they will proactively put you on the waitlist or look to confirm a spot for you on some future date.

If you enjoy watching concerts, theatre productions, or other special events, your Platinum card will give you access to presale and reserved tickets through Amex’s Front Of The Line® program and with Amex Experiences.

Lastly, you can take advantage of specially-tailored Amex Offers for extra value when used at specific dining venues, shops, and more.

Insurance Coverage

As a premium travel credit card, you can be sure that the Platinum Card’s insurance coverage is top-tier as well. Charge your travel purchases to your Platinum card, and you’ll automatically enjoy the following coverages:

• Emergency medical insurance: Up to $5 million of coverage for the first 15 days of your out-of-province trip, for travellers under age 65.
• Trip cancellation: Up to $2,500 of coverage per insured person, to a maximum of $5,000 for all insured persons on the same covered trip.
• Trip interruption insurance: Up to $2,500 of coverage per insured person, to a maximum of $6,000 for all insured persons on the same covered trip.
• Flight delay insurance: Up to $1,000 (aggregate maximum with Baggage Delay insurance), for food, accommodation and items purchased within 48 hours when your flight is delayed 4+ hours.
• Baggage delay insurance: Up to $1,000 (aggregate maximum with Flight Delay insurance), for items purchased within 4 days of arrival when your baggage is delayed 6+ hours. (Note: this is different from lost and stolen baggage insurance, which doesn’t cover delays)
• Lost or stolen baggage insurance: Up to $1,000 of coverage total for all insured persons.
• Hotel burglary insurance: Up to $1,000 coverage for stolen items (excluding cash).
• Travel accident insurance: Up to $500,000 of Accidental Death and Dismemberment Insurance.
• Car rental theft and damage insurance: Comprehensive coverage for up to 48 consecutive days for cars with an MSRP of up to $85,000.

Additionally, the card also offers Purchase Protection^® Plan and Buyer’s Assurance^® Protection Plan, covering most eligible items you’ve purchased with your card up to $1,000 should they be stolen or damaged within 120 days of purchase, as well as an extended one-year warranty period on the manufacturer’s warranty.

Historical Offers