THE AMERICAN EXPRESS PLATINUM REVIEW: THE BEST TRAVEL CREDIT CARD IN CANADA

The American Express Platinum Card is one of the leading travel rewards credit cards in Canada. With best-in-class perks like free lounge access and a lucrative signup bonus, it should be in the wallet of most Canadian travelers.

The Basics 

Annual Fee: $799

Sign up Bonus: 100,000 MR

First Year Free: No

Referral Bonus: 10,000 Membership Rewards

GCR Rebate: $150

Lounge Access: Yes

First Year Value: $1,600

Apply Here

Stay up to Date on the Latest Travel Deals

American Express Platinum Sign up Bonus 

New cardholders will earn 70,000 Membership Rewards after charging $10,000 in net purchases to their card in the first 3 months.

You’ll also earn 30,000 Membership Rewards upon making a purchase between months 14-17 of cardmembership

If you’re currently an American Express Platinum cardholder, You can earn 10,000 Membership Rewards by referring a friend or family member to the Platinum Card.

Earning Rewards

The American Express Platinum card has one of the best earning rates for a Canadian credit card. The earn rates are as follows: 

2 Membership Rewards for every $1 spent on dining, food delivery purchases, and eligible travel purchases

1 Membership Rewards point for every $1 spent everywhere else.

While other cards have higher earning rates for particular categories (the American Express Cobalt Card offers 5 MR per dollar spent on food & beverage), the Platinum card still offers solid value in terms of earnings.

Redeeming Your Rewards

The American Express Platinum Card allows you to earn Membership Rewards.

Read: Your Complete Guide to Membership Rewards

Membership Rewards is one of, if not the best travel currency for Canadians. One of, if not the best reason for you to start collecting American Express Membership Rewards (MR) is that you can transfer your MR to multiple transfer partners including: 

The best value to Canadians is to transfer the points out to Aeroplan at a 1:1 ratio. 

100,000 Aeroplan points can earn you multiple free flights as you can see from the table below. 

Here’s the new award chart for travel within North America:

Here’s the new award chart for travel between North America and the Atlantic region:

Here’s the new award chart for travel between North America and the Pacific region:

Here’s the new award chart for travel between North America and South America:

You can leverage your Aeroplan points to travel to almost any worldwide destination:

Travel to Paris from Canada on Points

Travel to Rome from Canada on Points

Travel to Prague from Canada on Points

Travel to Copenhagen from Canada on Points

Travel to Brussels from Canada on Points

Read>>> How to Travel to Europe from Canada on Points

If you choose not to transfer your Membership Rewards to one of the transfer partners listed above, you can alternatively use those points directly within American Express’ in-house travel platform

You can apply your Membership Rewards to both domestic & international travel as outlined below

It should be noted that the value you receive by TRANSFERRING your Membership Rewards is greater than if you were to use it within the American Express travel portal 

American Express Platinum Card Benefits

The American Express Platinum card comes with several benefits, which can more than offset the $699 annual fee. These perks include:

$200 Annual Travel Credit

The $200 can be applied towards one single booking made through American Express’ online travel agency. 

$200 Annual Dining Credit

Cardholders receive a $200 annual dining credit. To redeem the credit, you’ll need to make a purchase of $200 or more at an eligible restaurant with your card

Here is a list of eligible restaurants

$100 Nexus Credit

Cardholders receive a $100 statement credit towards the NEXUS program. Nexus applications cost roughly CAD 75, so this credit will cover the entire cost of the NEXUS application fee.

Instant Gold Status at Marriott Bonvoy

Gold Status at Marriott is achieved when you reach 25 qualifying nights at Marriott properties. If you’re a Platinum Cardholder, you are given instant gold status.

Instant Gold Status at Hilton Honours

Similar to Marriott, Hilton has an elite-tier program as well. the instant Gold Status achieved by being an American Express Platinum Cardholder comes with the following perks: 

• Complimentary continental breakfast or hotel credit
• Executive lounge access, subject to availability
• Upgrades to preferred rooms, subject to availability
• 80% bonus points
• Fifth night free on awards stays
• Late check-out, subject to availability
• Two bottles of water

Toronto Pearson Airport Benefits

• Access to Pearson Priority Security Lane during peak operating times
• Complimentary valet service, along with a 15% discount at the Express Park and Daily Park

American Express Fine Hotels & Resorts Program

This innovative program allows you to book special rates at luxury hotels across the world.

With the Fine Hotels & Resorts program, you can enjoy perks such as suite upgrades and daily breakfast for two. Each hotel offers its own unique perks as well. American Express projects the savings of the Fine Hotels & Resorts program to be $550 USD based on a two-night stay.

The American Express Platinum Concierge 

Platinum cardholders can take advantage of the Platinum Concierge service. The complimentary service helps with various travel needs, such as booking restaurant reservations.

Airport Lounge Access

The American Express Platinum Card is the king of global lounge access. You’ll have access to several programs, including:

• Priority Pass: Complimentary access (+1 guest) to all Priority Pass lounges across the world. 
• Centurion Lounge: Platinum cardholders have complimentary access to all locations of The Centurion Lounge. Cardmembers may bring up to two companions into many of The Centurion Lounge locations. 
• Plaza Premium: Platinum Cardmembers have complimentary access to Plaza Premium Lounges. Platinum Cardmembers may bring in one (1) travel companion as a complimentary guest.
• Delta SkyClub: The Platinum Cardmember must present his or her valid Platinum Card, government-issued I.D., and same-day corresponding Delta airline ticket to the lounge representative. Guests have to pay the daily fee
• Executive Lounges by Swissport: Platinum Cardmembers have complimentary access to Executive Lounges by Swissport in Canada. One travel companion may enter as a complimentary guest
• Airspace Lounges: Available to Platinum Cardmembers. Cardmember must present his or her valid Platinum Card, government-issued I.D., and confirmed boarding pass for same-day travel. The Cardmember may bring up to two companions into the club as complimentary guests per visit. 

American Express Platinum Insurance Coverage

The American Express Platinum is a premium travel credit card and naturally comes with top-tier insurance coverage. 

• Emergency Medical Travel Insurance – up to $5,000,000
• Car rental damage insurance 
• Trip Cancellation Insurance- up to $3,000
• Hotel Burglary insurance – up to $1,000
• Baggage delay insurance – up to $1,000
• Lost or stolen baggage insurance – up to $1,000

Summary

While the $799 annual fee seems daunting initially, the 100,000 Membership Rewards will earn you potentially multiple free flights. 

Canadians will have to decide whether the $799 (minus the $200 travel credit & $200 dining credit) annual fee is worth spending after year 2.