If you’re an avid traveller and appreciate a more sophisticated travel experience, then the American Express Platinum card may be one to keep on your shortlist. The card itself not only looks elegant with its sleek metal design, but the perks that come with it are tough to beat.
The rewards points system can have you earning as many as 3 points for every dollar you spend. Plus, all the VIP services that come with being an American Express Platinum cardholder are rarely seen with other competitor cards.
There is a sizable annual fee for the card, but the benefits that come with it easily offset this charge.
Let’s take a closer look at the American Express Platinum card to see if this is one to add to your wallet.
American Express Platinum Card Points System
With the American Express Platinum, you can earn between 1 to 2 points for every dollar you spend. More specifically, points are earned as follows:
- Earn 2 points for every dollar spent on eligible dining or travel in Canada.
- Earn 1 point for every dollar spent on anything else.
- Earn 1 additional point for every dollar spent using your Platinum card on eligible hotel reservations or car rentals booked through American Express Travel.
Additionally, you can also earn up to 100,000 welcome bonus points:
- Earn 70,000 welcome bonus points after you charge $10,000 to your card in the first 3 months of membership as a new Platinum cardmember.
- Earn 30,000 welcome bonus points when you make a purchase between 14 to 17 months of cardmembership.
Where To Redeem Points
Points can be redeemed towards the following:
- Air Canada Pay with Points
- Flexible Points Travel Program
- Fixed Points Travel Program
- Amazon Shop with Points
- Pay with Points at checkout with PayPal
- Merchandise
- Gift cards
American Express Platinum Card Perks
The American Express Platinum card comes with some attractive features:
Earn Twice The Points On Travel
Purchasing travel with your American Express Platinum card will earn you twice as many rewards points, helping you accumulate rewards even faster. Plus, you’ll have complimentary access to more than 1,200 airport lounges in 130 countries.
Earn Twice The Points On Eligible Dining
Using your American Express Platinum on eligible dining will afford you with 2 points earned for every dollar spent through the Global Dining Collection program.
Annual Travel Credit
Every year, you’ll receive a $200 travel credit that can be applied to any single travel booking when charged to your American Express Platinum card and booked through the American Express Travel Online or Platinum Card Travel Service.
Annual Dining Credit
As a cardmember, you’ll receive a $200 dining credit every year that you can use to try out a new eatery or splurge in your favourite restaurant.
Access To Worldwide VIP Lounges
Through the American Express Global Lounge Collection, you can get unlimited access to over 1,400 lounges and more than 500 airports in 140 countries.
Platinum Concierge
You’ll get access to free concierge assistance 24/7. Use the service to book a reservation at a restaurant, buy tickets to an event, or buy gifts.
Comprehensive Insurance Coverage
With your American Express Platinum card, you’ll be covered with travel and medical insurance without the need to purchase additional insurance when you travel abroad. You’ll also benefit from purchase protection.
Travel Insurance
- Out-of-province/country emergency medical insurance for cardholders under the age of 65
- Trip cancellation insurance
- Trip interruption insurance
- Flight delay insurance
- Baggage delay, loss, or theft insurance
- Car rental theft and damage insurance
- Hotel theft insurance
- Travel accident insurance up to $500,000
Shopping Protection
- Purchase Protection Plan
- Buyer’s Assurance Protection Plan
American Express Platinum Card Overview
| Annual Fee | $799 |
| Interest Rate | 30% on unpaid balances |
| Rewards Points | Earn 2 points for every $1 spent on eligible dining in Canada. Earn 2 points for every $1 spent on eligible travel. Earn 1 point for every $1 spent on anything else. Earn 1 additional point for every $1 spent on eligible hotel bookings or car rentals made through American Express Travel. |
| Welcome Bonus | Up to 100,000 points |
| Extra Benefits | Travel insurance Purchase protection $200 annual travel credit $200 annual dining credit Platinum Concierge Access to global VIP airport lounges |
Cost Of The American Express Platinum Card
You can expect the following fees as an American Express Platinum cardholder:
- Annual fee: $799
- Additional cards: $250
- Foreign currency conversion fee: 2.5%
- Annual interest rate: 30%*
*The American Express Platinum card is a charge card, which means that the balance must be paid in full every month. If you do not pay off your balance in its entirety each month, you’ll be charged an interest rate of 30% that will be effective from the day the account is opened.
Are You Eligible For An American Express Platinum Card?
To be eligible for the American Express Platinum, you must meet the following criteria:
- Be a Canadian resident
- Have a Canadian credit file
- Be the age of majority in the province or territory you live in
Final Thoughts
The American Express Platinum is not cheap, given its hefty $799 annual fee. But, if you often use charge cards to make purchases and are a frequent traveller, then this card will help you quickly accumulate points with its generous rewards points earning system. Plus, it offers a comprehensive travel package, which can help you avoid purchasing a plan outside this card when you travel. Just keep in mind that this is a charge card, so you should be financially sound enough to pay off your card balance in full every month.
