Card Details
PLATINUM CARD® AMERICAN EXPRESS REVIEW
- Unlock special experiences with the Platinum Card®
- Earn 100,000 Membership Rewards® points - that’s $1,000 towards a weekend away
- New Platinum® Cardmembers, earn 70,000 Welcome Bonus points after you charge $10,000 in net purchases to your Card in your first 3 months of Cardmembership
- Plus, earn 30,000 points when you make a purchase between 14 and 17 months of Cardmembership
- Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada, 2 points for every $1 in Card purchases on eligible travel, and 1 point for every $1 in all other Card purchases
- Access a $200 Annual Travel Credit through American Express Travel Online or Platinum® Card Travel Service
- Enjoy a $200 Annual Dining Credit at some of Canada’s best restaurants
- Unlock $200 or more in additional value with Member extras. You can earn statement credits for qualifying purchases with participating brands
- Take full advantage of The American Express Global Lounge CollectionTM which unlocks access to over 1300 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience
- Enjoy flexible ways to use your points such as statement credits for any eligible purchase charged to your Card, new travel purchases booked on American Express Travel Online through the Flexible Points Travel Program, and eligible flights through the Fixed Points Travel Program
- Transfer points 1:1 to several frequent flyer and other loyalty programs
- Enjoy complimentary benefits that offer an average value of $750 CAD at over 1,300 extraordinary properties worldwide when you book Fine Hotels + Resorts
- Platinum Cardmembers can enjoy access to special events and unique opportunities
- Enjoy premium benefits at the Toronto Pearson Airport
- You will also have access to many leading hotel and car rental companies’ loyalty programs. Our partners include Marriott International, Hilton Hotels and Resorts, Hertz and Avis
- Interest applies in accordance with your Cardmember Agreement, Information Box, and Disclosure statement if the total New Balance is not paid by the Payment Due Date each month. All payments must be received by the Payment Due Date shown on the monthly statement
- Interest rate of 30% applies to each delinquent Due in Full charge. The Preferred rate of 20.99% applies to your Flexible Payment Option balance. If you have 2 separate Missed Payments in a 12 month period, the Flexible Payment Option rate for your account will be 25.99%. If you have 3 or more separate Missed Payments in a 12 month period, the Flexible Payment Option rate will be 28.99%. These rates are effective from the day the Flexible Payment Option is first available on your account.
Insurance
-
Priority airport services
Yes
-
Airport lounge access
Yes
-
Concierge service
Yes
-
Balance protection(Optional)
No
-
Purchase Security & Extended Protection Insurance
Yes
-
Flight delay insurance,Baggage Insurance
Yes
-
Vehicle rental insurance
Yes
-
Travel accident insurance
Yes
-
Travel medical insurance
Yes
Fees and Eligibility
Fees
- Annual Fee: $799
- Additional Card Fee: $175
- Purchases Interest Rate: -%
- Cash Advance Interest Rate: N/A%
Eligibility
- You're a Canadian resident
- You've reached the age of majority in your province or territory
Recommended Credit Score:
740
900
Excellent
Our Rating
Rating Methodology: My Rate Compass's ratings are determined by our editorial team. Our editors rate credit cards objectively based on the benefits and features the credit card offers, interest rates, the fees, and how a credit card compares with other cards in its category. Credit card rating methodology
Editorial Guidelines: Learn more about our editorial guidelines here.
Pros and Cons
Get rewarded for exploring the world – with 2X the points on travel3
Earn points on your dining experience
Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada and discover some of the world’s top culinary experiences with the Global Dining Collection5.
No matter your destination, you can earn 2 points for every $1 in Card purchases on eligible travel3.
Take full advantage of The American Express Global Lounge CollectionTM which unlocks access to over 1300 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience
Enjoy premium benefits at the Toronto Pearson Airport such as discount on parking
You will also have access to many leading hotel and car rental companies’ loyalty programs. Partners include Marriott International, Hilton Hotels and Resorts, Radisson Hotel Group, Hertz and Avis
No matter your destination, you can earn 2 points for every $1 in Card purchases on eligible travel3.
Take full advantage of The American Express Global Lounge CollectionTM which unlocks access to over 1300 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience
Enjoy premium benefits at the Toronto Pearson Airport such as discount on parking
You will also have access to many leading hotel and car rental companies’ loyalty programs. Partners include Marriott International, Hilton Hotels and Resorts, Radisson Hotel Group, Hertz and Avis
Editor's Review
This card is the most exclusive credit card in the market however it comes with a $799 annual fee which is one the highest for a Canadian credit cards. The Platinum Card® is perfect for those who are looking for a luxury credit card with outstanding benefits, rewards, insurances, and platinum experiences. The annual fee is high however a frequent traveler will enjoy every single benefit on this card.
Platinum Card's rewards earn rate:
- Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada
- Earn 2 points for every $1 in Card purchases on eligible travel
- Earn 1 point for every $1 in all other Card purchases
Pros
- Earn 100,000 Membership Rewards® points - that’s $1,000 towards a weekend away
No credit limit: There is no preset credit limit with this credit card
Premium airport lounge access: Complimentary access to over 1,300 airport lounges across 130 countries.
Premium insurance: The Platinum Card® offers different types of insurance like below:
- $500,000 Travel Accident
- Travel Emergency Assistance
- Trip Cancellation /Trip Interruption
- Car Rental Theft/Damage
- Lost or Stolen Baggage
- Flight Delay
- Baggage Delay
Cons
High annual fees: The Platinum Card has an annual fee of $799. Each additional card is $175.
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Awards
Author Bio
Mohamed Konate
Mohamed Konate is a personal finance expert, blogger, and marketing consultant based in Toronto. He is a former financial services professional who worked at major Canadian financial institutions for many years. He managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor's in Business Administration from the University of Quebec (Montreal) and a Master's in International Business from the University of Sherbrooke (Quebec). He is also the author of the Canadian Credit Card Guidebook.
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