American Express Platinum Card Review

If you’re a savvy traveler and enjoy high end experiences, this card might be an option for you. Platinum cardholders earn extra points on travel and dining purchases. You can also access lucrative travel and dining experiences by being a Platinum Card owner. Once you’ve earned enough points to make a redemption, you can use your points to purchase travel, flights, gift cards and much more. To learn more about the American Express Platinum Card, continue reading our detailed review below for all the most important info.

Main Perks & Benefits of the Amex Express Platinum Card

The American Express Platinum Card comes with an array of benefits, particularly in the travel, fine dining and experience areas. Below is a list of all the perks that come with the Platinum Card.

  • Earn 2 points per dollar spent on eligible travel purchases
  • Earn 3 points per dollar spent on eligible dining experiences in Canada
  • Earn 1 point per dollar spent on all other purchases
  • Complimentary access to more than 1,200 airport lounges across 130 countries
  • Gain access to unique culinary experiences with Global Dining Collection
  • Obtain a $200 CAD Annual Travel Credit using American Express Travel Online
  • Fast track to higher tiers within hotel loyalty programs through Hotel Status Benefit
  • Gain access to special travel perks through Fine Hotels and Resorts
  • Travel faster with Toronto Pearson International Airport
  • Receive assistance at anytime using Platinum Concierge
  • Access exclusive events through American Express Invites

Fees & Welcome Bonus for Platinum Card

The Platinum Card costs $699 per year. While this might seem like a lot of money, cardholders gain access to an array of travel benefits, dining experiences and other lucrative offers. If the main cardholder wants to add other cards to the account, it costs $175 annually for Platinum Cards and $50 annually for Gold Cards.

The welcome bonus is 25,000 American Express rewards points. In order to qualify for the welcome bonus, the cardholder must spend a minimum of $2,000 using the card within the first three months of ownership. This welcome bonus is worth about $250.

Redeeming Amex Platinum Points

Once you’ve earned enough rewards points using your American Express Platinum Card, you will likely want to redeem them for something special. There are a number of ways that you can redeem your Platinum points, as described below.

  • Fixed Points Travel Program. Use earned points to book flights for a fixed number of points. There are no blackout dates or seat restrictions. Last minute bookings are also possible with this program and you can choose from Economy or Business Class. Unfortunately, points only cover the base cost of the flight, not fees, taxes or other miscellaneous charges.
  • Flexible Points Travel Program. Under this program, 1,000 points is equivalent to a $10 travel credit. You can redeem your points for new travel purchases under this program. Points cover taxes, fees and other miscellaneous charges.
  • Shop with Partner Retailers. You can redeem your points on Amazon.ca, Apple, Ticketmaster, Bose and other partner retailers within The Membership Rewards Catalogue.
  • Statement Credits. Use your earned points to reduce your monthly Platinum Card bill.
  • Premium Gift Cards. Redeem your points for gift cards with premium retailers, such as Holt Renfrew.
  • Transfer Points. You can transfer your points to a frequent flyer or other loyalty program. The program that you wish to transfer your points to must be eligible.

American Express Platinum Travel Insurance

Since this credit card comes with a lot of travel perks, customers usually want assurance for their travels. Fortunately, the Platinum Card comes with travel insurance so you can explore the world with your mind at ease. Keep in mind that travel must be purchased with your American Express Platinum card in order to be eligible for travel insurance. Below are the details of the insurance provided with the Platinum Card.

  • Emergency medical insurance for out of province and country travel for cardholders under the age of 65 – maximum coverage of $5 million for the first 15 consecutive days of travel
  • Trip cancellation insurance – reimbursement for non-refundable, non-transferable portion of travel arrangements, maximum of $2,500 per person and $5,000 per group for each trip
  • Trip interruption insurance – reimbursement for non-refundable, non-transferable and unused portion of travel, maximum of $2,500 per person and $6,000 per group for each trip
  • Travel accident insurance – maximum coverage of $500,000 for accidental death and dismemberment
  • Car rental theft and damage insurance – maximum coverage of $85,000 MSRP for car rentals of 48 days or less, must decline coverage with the car rental agency to be eligible
  • Flight delay insurance – maximum coverage of $1,000 within 48 hours of delayed or denied boarding of 4 hours or more
  • Baggage delay insurance – maximum coverage of $1,000 for emergency purchases within four days of arrival without baggage
  • Lost or stolen baggage insurance – maximum coverage of $1,000 per trip for all travellers in your group
  • Hotel burglary insurance – maximum coverage of $1,000 for stolen personal items, excludes stolen cash
  • Travel emergency assistance – assistance by telephone at any time
  • Travel medical concierge – assistance by telephone for medical needs
  • Emergency card replacement – obtain a new credit card if yours gets lost or stolen abroad

American Express Platinum Card FAQ

What are the Platinum Card approval requirements?

The only two requirements are that you are a Canadian resident and are the age of majority in the province or territory which you reside. American Express will also assess other factors such as your credit report and annual salary, but there are no public approval requirements for this aspect of the application process.

What is the credit limit of the Platinum Card?

There is no pre set spending limit with the Platinum Card. However, this doesn’t mean unlimited spending. A credit limit will be set when you go through the application process. American Express will determine the credit limit by assessing various factors, such as your credit record, personal assets and account history with AMEX.

Can I transfer Platinum points to airlines?

You can transfer points to eligible frequent flyer and other loyalty programs. There are some eligible airline loyalty programs that you can transfer points to. Some of the eligible loyalty programs may allow you to transfer points to an airline after you’ve transferred points from AMEX as well.

Is the Platinum Card worth it?

If you’re an avid traveller and enjoy taking advantage of other lucrative experiences, this is an ideal credit card for you. The annual fee is high, but you receive a lot of perks and benefits back, such as the welcome bonus, travel credit and insurance coverage.

Is the Platinum Card made of metal?

Yes, the Platinum Card is made of metal. It is cut with precision and engraved to represent the strength and resilience of the cardholder.

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