The Platinum Card by American Express is, without a doubt, one of the best travel rewards cards in Canada.
The annual fee is $699, but the benefits and rewards you will receive significantly offset the costs – particularly if you travel frequently.
This card can quickly pay for itself when you factor in the comprehensive insurance coverage, exciting rewards, and other luxury perks.
Keep reading to learn everything you need to know about the Platinum* Card by American Express.
The Platinum Card by American Express At A Glance
- $699 annual fee
- Up to 100,000 welcome bonus points
- Earn 3 points for every dollar spent on dining and food delivery in Canada
- Earn 2 points for every dollar spent on travel, and 1 point for every dollar spent on every other purchase
- $200 annual travel credit
- Access to over 1,200 airport lounges
- Comprehensive travel insurance benefits
The Platinum Card by American Express Benefits
1. Generous welcome offer
As a card holder, you can earn up to 100,000 Membership Rewards points which are detailed as follows:
New Card holders earn 80,000 Welcome Bonus points after you charge $6,000 in net purchases to your Card in your first three months of Card membership. This is enough to redeem for $800 credit towards eligible purchases. And you can also earn 20,000 points when you make a purchase between 14 and 17 months of Card membership. This is also enough to redeem a $200 credit towards eligible purchases. As for reward points, you’ll earn 3 points for every $1 in Card purchases on eligible dining and food delivery in Canada. In addition, you’ll earn 2 points for every $1 in Card purchases on eligible travel and 1 point for every $1 on everything else.
2. Platinum Lounge Benefit
With this card, you’re significantly upping your travel experience. You will receive a Priority Pass Prestige membership worth $429 per year. Priority Pass gives you free access to over 1,200 airport lounges worldwide.
Furthermore, every Priority Pass lounge provides free food, drinks, and other supplementary services such as showers, rest rooms, printers, etc.
3. $200 Annual Travel Credit
As a Card holder, you will get a $200 travel credit per year, which is undoubtedly one of the card’s most valuable perks. If you travel even once a year, you will likely use this credit for a hotel stay or a flight upgrade. However, it’s critical, to read the terms of use. Your credit can only be used once per year in a single deal and only on Amex Travel Services purchases.
The Platinum Card by American Express Downsides
Most travelers who have used this card have a positive review of it. But there are a few downsides to note if you want to apply for one.
Firstly, you have to pay off your entire monthly balance because this is a charge card. Monthly balances that are carried over are subject to a 30% interest rate. Secondly, the annual fee is relatively high. Even though the premium benefits offset the $699 annual fee, that’s still a high fee. If you don’t travel frequently, you may want to consider another travel card like the Scotiabank Gold American Express Card.
And finally, Amex cards aren’t as widely accepted as Visa and MasterCard.
What is the minimum credit score for American Express Platinum Card?
To be eligible for this card, you must have a credit score of 700 or above. In most circumstances, this means that applicants must have excellent credit score to be approved for the credit card.
The Platinum Card by American Express Eligibility Requirements
The basic eligibility requirements for this card are:
- You must be a Canadian citizen.
- You must be at least 18 or 19 years of age.
- And have an excellent credit score.
In conclusion: Is the Platinum Card by American Express Worth It?
No other card offers as many benefits as the American Express Platinum Card.
This card is perfect for travelers who wish to enjoy the best in travel comforts while saving money on flights and hotel stays.
For a $669 fee, you can receive up to 100,000 bonus points, complete travel privilege, and a suite of rewards for premium lifestyles.
The annual fee isn’t as high as it seems, especially when you consider the perks of travel benefits you will enjoy.
However, if you are not a frequent traveler, you don’t have to get this card. Why? This is a high-end Canadian travel rewards card with all perks suitable for frequent travelers.