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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 3 points for every dollar you spend. More specifically, points are earned as follows:

  • Earn 3 points for every dollar spent on eligible dining in Canada.
  • Earn 2 points for every dollar spent on eligible travel.
  • 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’ll also earn 25,000 welcome bonus points when you spend $2,000 in the first 3 months of getting your American Express Platinum card. 

Points can be redeemed towards the following:

  • Fixed Points Travel Program, which offers fixed points amounts towards eligible airline tickets
  • Transferring points loyalty programs
  • Gift cards
  • Statement credits for charges made to your card

Best Features Of The American Express Platinum Card 

The American Express Platinum card comes with some attractive features:

Comprehensive Insurance Package

There’s little need to buy a separate insurance policy when travelling, as the American Express Platinum card offers a handsome insurance package that includes the following:

  • Out-of-province/country emergency medical insurance for cardholders under the age of 65
  • Trip cancellation insurance
  • Trip interruption insurance
  • Travel accident insurance up to $500,000

Shopping Protection

Shop in confidence knowing that your purchases are protected thanks to the following:

  • Buyers assurance protection plan extends the manufacturer’s original warranty up to 1 extra year.
  • Purchase protection plan to cover eligible items paid for using your Platinum card for 120 days from the date of purchase if the goods are damaged or stolen.
  • Fraud protection guarantee will alleviate you of responsibilities if your card is used to make fraudulent purchases. 
  • No pre-set spending limit on purchases to help you maximize your points. 

American Express Platinum Card Perks

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 3 Times The Points On Eligible Dining

Using your American Express Platinum on eligible dining will afford you with 3 points earned for every dollar spent through the Global Dining Collection program.

Annual Travel Credit Of $200

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.

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.

American Express Platinum Card Overview

Annual Fee$699
Interest Rate30% on unpaid balances
Rewards PointsEarn 3 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 Bonus25,000 points
Extra BenefitsTravel insurance
Purchase protection
$200 annual travel credit

Cost Of The American Express Platinum Card 

You can expect the following fees as an American Express Platinum cardholder:

  • Annual fee: $699
  • Additional cards: $175 
  • 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?

In order 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 $699 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. 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.

Lisa Rennie avatar on Loans Canada
Lisa Rennie

Lisa has been working as a personal finance writer for more than a decade, creating unique content that helps to educate Canadian consumers in the realms of real estate, mortgages, investing and financial health. For years, she held her real estate license in Toronto, Ontario before giving it up to pursue writing within this realm and related niches. Lisa is very serious about smart money management and helping others do the same.

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