Amex Platinum Canada Review (Dec 2023) 100,000 Points Bonus

American Express recently announced that new Platinum Cardholders can earn a welcome bonus of 100,000 MR points. Using my valuation of 2-3 cents per point, the welcome bonus alone is worth an impressive $2,000 – $3,000.

With that said, the Platinum Card doesn't come cheap; at $799 per year, many interested users are put off by its high cost. That's why I'm going to focus this American Express Platinum review on proving the card's value—both in the short-term and over the long-term—and show you why you're losing money every year you don't have a Platinum card.

American Express Platinum Card

high earn rate at eligible eats & drinks and the option to transfer points to other programs

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• Annual Fee
  $799
• Interest Rate
  N/A
• Welcome Bonus
  100,000 MR points
• Rec. Credit Score
  760+

• Features & Benefits

  • Earn 70,000 Membership Rewards points after you spend $10,000 within your first 3 months
  • Earn an additional 30,000 points when you make a purchase between 14 and 17 months of Cardmembership
  • Full access to the American Express Global Lounge Collection, the Centurion Lounge network, the Plaza Premium Lounges, and more
  • Redeem your points through American Express Travel Online, the Flexible Points Travel Program, or the Fixed Points Travel Program
  • Transfer your points to other reward programs: Marriott International, Hilton Hotels and Resorts, Radisson Hotel Group Americas, Hertz and Avis
  • $200 annual dining credit
  • $200 annual travel credit

• Pros & Cons

  Why we like it

  Great for high earn rate at eligible eats & drinks and the option to transfer points to other programs

  Pros

  • 100,000 MR points
  • Earn 2 MR points per $1 spent on eligible dining, food delivery and travel purchases
  • Earn 1 MR points per $1 spent on all other purchases
  • Access to over 1,300 American Express lounges worldwide
  • Transfer MR points between Aeroplan and Avios (1:1)
  • Comprehensive travel and medical insurance
  • Travel accident and emergency insurance

  Cons

  • High annual fee
  • Requires a good credit score (660+)

• More Details

  Bonuses and fees

  The American Express Platinum Card is a premium credit card with one of the highest annual fees, set at $799. It requires an excellent credit score of at least 760 to apply. With the Platinum Card, you'll earn 2 points for every dollar spent on dining and food delivery in Canada, 2 points for every dollar spent on travel, and 1 point for everything else.

  Rewards

  You can earn MR points at a rate of:

  • 2 MR points per $1 on eats & drinks, dining, and food deliveries
  • 2 MR points per $1 spent on travel-related purchases (flights, hotels, and more)
  • 1 MR point per $1 spent on everything else

  Perks and benefits

  • Access to presale tickets through Amex’s Front Of The Line program
  • Complimentary membership to Hilton Honors Gold Status and Marriot Bonvoy Gold Elite status
  • Exclusive access to American Express Experiences (entertainment, dining, retail)
  • Enroll for NEXUS and get a $100 rebate
  • Special offers when booking travel through American Express Travel Online
  • Priority lane at the Toronto Pearson International Airport

  Insurance

  Like most American Express cards, the Platinum Card offers very complete coverage:

  • Emergency medical insurance
  • Flight delay & trip cancellation insurance
  • Lost or stolen baggage insurance
  • Mobile device coverage
  • $500,000 travel accident insurance

#1 Features Of The American Express Platinum In Canada

The Amex Platinum in Canada offers plenty of features to talk about, but here are just four of my personal favourites:

#1 Canadian Platinum Lounge Benefit

On top of the 100,000 Membership Rewards points you can earn with your Amex Platinum Card, you also get access to the American Express Global Lounge Collection, which unlocks 1,200+ airport lounges worldwide. Access to airport lounges is definitely the American Express Platinum benefit I use the most, and these days I really can’t imagine flying without stopping into an airport lounge first.

All of the lounges your Platinum Card gets you access to offer free food (ranging from snacks to four-course meals), free drinks (including alcohol at many lounges), and many also offer additional complimentary amenities like nap rooms, showers, libraries, printers, games rooms, and more.

Here are just a few of the lounges you get access to with your Platinum Card in Canada.

The 24-hour SkyTeam Lounge in Vancouver (YVR)

The National Bank Lounge in Montreal (YUL)

Toronto Pearson International Airport (YYZ) has plenty of lounges you can experience—plus the American Express Centurion Lounge at Pearson—and you’ll be able to access all of them for free.

With the Platinum Card, you’re stepping up your travel game in a big way.

#2 $200 Annual Travel Credit

This is exactly what it sounds like: $200 for you to use on travel every single year. In the past 3 years alone, I’ve used my $200 credit on a flight to Asia, a flight to South America, and a flight to Europe.

The $200 annual travel credit isn't only good for flights, though; it can be used towards any flight, hotel, car rental, or vacation booking made through American Express' travel portal.

Pro Tip: Use your $200 annual travel credit on the first hotel or flight booking you make with your Platinum Card. You don’t want to forget to use it!

#3 Hotel Elite Statuses

Your Amex Platinum also upgrades your statuses with a handful of hotel chains. This means you get special benefits: exclusive discounts, early check-in and late check-out, complimentary breakfasts and more.

These are the sort of status upgrades you can expect with your Amex Platinum Card:

• Shangri-La Golden Circle Jade Membership
• Hilton Honors Gold Status
• Radisson Rewards™ Gold Status
• Marriott Bonvoy™ Gold Elite Status

#4 American Express Front Of The Line

Front of the Line gives American Express Cardmembers exclusive access to ticket pre-sales and reserved seating at concerts, musicals, sporting events and much more.

The best thing about Front of the Line is in the name itself: you get access to tickets at the biggest shows (think Justin Bieber and Beyoncé) before everyone else. These shows are known for selling out in seconds, but with Front of the Line, you'll always get your ticket. Past performances that Front of the Line has had pre-sale access to include Taylor Swift, Selena Gomez, Wicked, Lady Gaga, Katy Perry, Billy Elliot, West Side Story, Imagine Dragons, The Lion King and many more.

Front of the Line always offers great seats close to the action at these events. They also send periodic emails to let you know when artists are coming to town so you never miss a show.

#2 How To Turn 100,000 Points Into 104,000 Points

The 100,000 welcome bonus points that come with the American Express Platinum are great, but if you know what you’re doing, you can actually turn them into 104,000 pretty simply.

How? At least once per year, American Express offers a 30% transfer bonus when you transfer your points to a program like British Airways Avios or Aeroplan. Just by transferring your points strategically, you'll turn 100,000 Membership Rewards into 104,000 Avios or Aeroplan points.

You just gained another 24,000 points—worth at least $480 if you use them at a value of 2 cents per point or above—just for being in the loop.

Here are 3 realistic scenarios of the value you can achieve with the Amex Platinum Card:

Most of you will find yourselves in columns 2 or 3—in the $1,581 – $2,621 profit range—since you can just read our other blog posts to find tons of flights that get you 2-3 cents per point of value.

#3 How To Use Your American Express MR Points

Case Study #1: Visiting Asia

Suppose you want to visit Hong Kong to visit family or friends. The Amex Platinum is your perfect companion since one of the easiest, best ways to use your points is on direct flights to Hong Kong with Cathay Pacific.

Since Cathay Pacific is a premium airline, these direct flights normally cost at least $1,000 from Vancouver and even more from Toronto. Don't worry, though—you won’t be paying anywhere close to that.

For this example, let's assume you transfer your American Express MR points to British Airways Avios points. Here's what these flights would look like in that case:

• Roundtrip direct flights from Vancouver to Hong Kong cost just 60,000 Avios points + $90 in taxes and fees.
• Roundtrip direct flights from Toronto to Hong Kong cost 70,000 Avios points + $100.

Of course, Hong Kong isn’t your only option. Tokyo is a bit closer than Hong Kong, so flights between Vancouver and Tokyo are just 50,000 points. If you capitalize on the 30% transfer bonus, you can fly to Tokyo twice and still have leftover points.

Case Study #2: Around The World

Let’s suppose you want to go around the world using your Platinum Card.

No problem.

If you’re in Vancouver, you can fly from Vancouver to Hong Kong to Dubai to London to Vancouver (or the opposite direction) for 74,700 points + $742 in taxes and fees.

Toronto works just the same.

Flying from Toronto to Hong Kong to Dubai to London to Toronto (or the opposite direction) costs just 74,500 points + $761 in taxes and fees.

These round-the-world trips offer a value of well over 4 cents per point, meaning the $799 annual fee you're paying for the Platinum Card is saving you $3,000+ on flights.

#4 Is The Amex Platinum Canada Worth The $799 Annual Fee?

Yes, the American Express Platinum Canada is worth the $799 annual fee.

Why? Because it's impossible not to make money by having this card, even after paying the fee.

If you use your 100,000 bonus points in the worst way possible, the card is still worth a minimum of $1,300 to you. Why? Because Amex allows you to apply your points against your statement balance at a value of one cent per point, which means 100,000 points = $1,100. Add in your $200 travel credit and you're at $1,300.

And that's not even considering the other benefits you get from the card. The travel/emergency/baggage insurance and additional purchase insurance (for theft/damage of your items), the worldwide access to airport lounges, and the premium hotel memberships are all just cherries on top.

So even if you use your points in the worst way—by applying them to your statement balance as a cash equivalent—you still come out ahead.

But if you use them in the ways we’ve suggested in sections #3 and #4 above, you can reasonably expect to save $2,000 or more after paying the annual fee.

#5 Amex Platinum Travel Insurance

The Platinum Card also comes with an impressive American Express travel insurance policy. Here’s what the policy includes:

Every American Express card also comes with two other insurance benefits:

1. Buyer’s Assurance Protection Plan doubles the manufacturer’s warranty on your purchases and will repair/replace faulty or damaged items up to $10,000.
2. Purchase Protection Plan insures your purchases against accidental physical damage and theft for the 90 days after purchase, up to $1,000.

Fraud protection, global emergency card replacement and 24/7 express customer service are included with every Amex card, too.

#6 Two Less Expensive Cards To Consider

If the $799 annual fee is still too much for you, here are two less expensive cards to consider instead:

#1 The Amex Gold Rewards Card

The American Express Gold Rewards Card is another great choice for Canadian travelers right now. It comes with a generous welcome bonus of 60,000 (plus 10,000) points and a low annual fee of just $250; plus, there are recurring benefits you can capitalize on every year that you hold the card.

If you travel frequently but the annual fee on the Platinum Card is too much for you, the Amex Gold Rewards Card is a great second option.

American Express Gold Rewards Card

high earn rate at eligible eats & drinks, and medical & travel insurance

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• Annual Fee
  $250
• Interest Rate
  20.99% on purchases, 21.99% on cash advances
• Welcome Bonus
  60,000 pts
• Rec. Credit Score
  660+

• Features & Benefits

  • Earn 60,000 Membership Rewards points as a welcome bonus after you spend $3,000 within 3 months
  • Earn an additional 10,000 points when you make a purchase between 14 and 17 months of Cardmembership
  • Annual $100 Travel Credit
  • Priority Pass membership and 4 complimentary visits to Plaza Premium Lounges in Canada

• Pros & Cons

  Why we like it

  Great for high earn rate at eligible eats & drinks, and medical & travel insurance

  Pros

  • 60,000 MR points
  • Earn 2 points for every $1 in Card purchases on eligible travel
  • Transfer points 1:1 to other loyalty programs (Aeroplan, Marriot Bonvoy, and more)
  • Comprehensive travel and medical insurance
  • $100 travel credit and 4 complimentary visits to Plaza Premium Lounges
  • Complimentary Priority Pass membership

  Cons

  • High annual fee ($250)
  • $50 to request an additional Gold Rewards Card

• More Details

  Bonuses and fees

  The American Express Gold Rewards Card is a premium travel card with an annual fee of $250. You can earn 2 MR points per $1 spent on travel-related purchases, as well as 2 MR points per $1 spent on groceries, gas, and drugstores. To apply for this card, you need a good credit score of at least 660. There is no minimum annual income requirement.

  Rewards

  You can earn MR points at a rate of:

  • 2 MR points per $1 spent on travel-related purchases
  • 2 MR points per $1 spent on groceries, gas, and drugstores
  • 1 MR point per $1 on all other purchases
  • 1 MR bonus point on Amex Travel Online bookings

  Perks and benefits

  • 1 free additional card
  • Access to American Express’ Front Of The Line program and American Express Experiences
  • Worldwide Airport Lounge Access
  • Complimentary $100 Annual Travel Credit

  Insurance

  The American Express Gold Rewards Card’s got you covered in most insurance categories:

  • Emergency medical insurance
  • Flight delay and cancellation insurance
  • Lost or stolen baggage insurance
  • Travel emergency assistance
  • $500,000 travel accident insurance

#2 The Amex Cobalt Card

There are two major reasons I recommend the American Express Cobalt Card over other low-fee cards in Canada right now.

1. It offers the highest rewards on everyday spending of any card in Canada.
2. You can get up to 10% cashback on your spending when you use the Cobalt Card at coffee shops, restaurants, bars and grocery stores anywhere in Canada.

The Cobalt Card is a solid everyday card, and here's our side-by-side comparison between it and the Platinum Card.

American Express Cobalt Card

Great for exchanging MR points with other rewards program and high MR earn rate

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• Annual Fee
  $156
• Interest Rate
  20.99% on purchases, 21.99% on cash advances
• Welcome Bonus
  15,000 MR points
• Rec. Credit Score
  660+

• Features & Benefits

  • Earn 15,000 Membership Rewards points as a welcome bonus after you spend $9,000 within a year ($750/month)
  • Access to American Express Experiences
  • Access to American Express Front Of The Line presales

• Pros & Cons

  Why we like it

  Great for exchanging MR points with other rewards program and high MR earn rate

  Pros

  • 15,000 MR bonus points
  • Earn 5 points per $1 spent on eligible eats & drinks purchases
  • Transfer points 1:1 to other loyalty programs (Aeroplan, Marriot Bonvoy, and more)
  • Access to presale tickets and VIP seating in select events through American Express' Front Of The Line program
  • $100 Travel Credit and 4 complimentary visits to Plaza Premium Lounges
  • Comprehensive travel and medical insurance
  • Relatively low annual fee ($156)

  Cons

  • Needs a fairly good credit score (660+)

• More Details

  Bonuses and fees

  The American Express Cobalt Card is a premium credit card with an annual fee of $156. This card is unique because its Membership Reward points can be exchanged 1:1 with some of the best rewards programs, including the Aeroplan and the Marriot Bonvoy program.

  Rewards

  You can earn MR points at a rate of:

  • 5 MR points per $1 spent on eats & drinks
  • 3 MR points per $1 spent on streaming subscriptions
  • 2 MR points per $1 spent on travel & transit
  • 1 MR point per $1 spent on everything else

  Redeeming your points

  The American Express Cobalt Card offers plenty of options to exchange your points. You can spend them directly on categories like streaming subscriptions, various eats & drinks, movie tickets, or statements of credit.

  Additionally, you can Exchange your MR points for Aeroplan, Avianca LifeMiles, Hilton Honors, Choice Privileges, or Marriott Bonvoy points.

  Insurance

  This card offers very complete coverage, including categories like:

  • Emergency Medical Insurance
  • Flight Delay Insurance
  • Lost or Stolen Baggage Insurance
  • Mobile Device Coverage
  • $250,000 Travel Accident Insurance

Is The Amex Platinum Worth It In Canada?

My American Express Platinum Canada review shows that I strongly believe the value of the Amex Platinum Card in Canada far outweighs its annual fee. Amex has a history of dropping their welcome bonuses without any warning, though, so get this 100,000 welcome bonus points offer while it still lasts.

The $799 annual fee is hefty, but when you consider that the 100,000 welcome bonus points are worth $2,000 – $3,000 on their own, this card really becomes a great deal. Apply with confidence today.

American Express Platinum FAQs

What Are The Amex Platinum Canada Requirements?

There’s no specific credit score required to get the Amex Platinum, though I recommend a score of at least 650, a clean credit history for at least 2 years, and an annual income of at least $50,000. If you tick all of those boxes, you have a high chance of being approved for the Platinum Card.

Is It Hard To Get The Amex Platinum?

The Amex Platinum can be hard to get, which is why we recommend you have a credit score of at least 650 when you apply. Don’t forget that the Amex Platinum in Canada carries a $799 annual fee.

Is The Amex Black Card Better Than The Amex Platinum?

Most people who have the American Express Centurion (“Black”) Card (as well as the Mastercard® Black Card) agree that the Amex Platinum Card offers significantly better value, and that the Black Card barely holds any benefits that the Platinum Card does not. The same goes for the Mastercard® Black Card. However, the Black Card is a major status symbol, so if that’s important to you, it should factor into your decision.  

How Much Does The American Express Platinum Cost?

In Canada, the Amex Platinum Card costs $799 per year. This annual fee covers the cost of worldwide airport lounge access, a $200 annual travel credit, worldwide travel insurance, 100,000 welcome bonus points, and more.

Does The Amex Platinum Have A Limit?

No, the American Express Platinum Card does not a preset credit limit, though that doesn’t mean cardholders are granted unlimited purchasing power—it simply means that every cardholder has a different limit. You can find the credit limit on your Platinum Card inside your American Express account.

Is The Amex Platinum Canada The Best Travel Credit Card In Canada?

The Amex Platinum is certainly one of the best travel credit cards in Canada. It's also arguably one of the best credit cards in Canada in general. While the Aeroplan Card and Marriott Bonvoy Card have recently grabbed a lot of attention for their generous welcome bonuses, the Platinum Card has offered exceptional value-for-money for years and shows no sign of slowing down.

What Is The The Amex Platinum Card Made Of?

The American Express Platinum Card is made of precision-cut stainless steel and weighs 19 grams, compared with 5 grams for plastic credit cards. Your name is engraved on the card, and existing Platinum cardholders can request to have their old plastic card exchanged for a metal card at any time.

Is The Amex Platinum Card Prestigious?

Yes, the Amex Platinum is one of the most luxurious travel credit cards on the market. Made of precision-cut stainless steel, its generous welcome bonus and luxury travel benefits put the Platinum Card in a league of its own.

Will Amex Platinum Waive Your Annual Fee?

American Express waives the annual fee on the Platinum Card for active-duty service members, but no one else receives the same benefit. Even with the annual fee, though, the travel benefits and generous welcome bonus make the card a great value.

How Do I Maximize My Amex Platinum Points?

To maximize your Amex Platinum MR points, make sure to use your $200 annual credit, sign up for all hotel elite statuses, and pay for as many expenses as you can with your Platinum Card. The insurance and purchase coverage on all your spending will protect you from any fraud and faulty items you may buy, keeping your money safe and secure.

What Should You Do First Upon Receiving Your Amex Platinum Card?

Call the number on the back of your Platinum Card and ask Amex to set you up with these things right away:

1. Your hotel elite statuses: Hilton Honors Gold Status, Shangri-La Golden Circle Jade Membership, Radisson Rewards Gold Status, and Marriott Bonvoy Gold Elite Status. Even if you never plan to stay in one of those hotels, it’s good to get these statuses set up, just in case. They're included with your card, after all.
2. Lounge Access. Make sure you've got access to airport lounges set up so you can start using it right away, and if it’s not, get Amex to set it up for you.
3. Ask if they know when the next Avios or Aeroplan transfer bonus will be. Customer service reps often won’t disclose this information (they may not even know it themselves), but it’s worth asking anyway.

How Can I Sign Up With An American Express Platinum Referral?

To get the best available welcome points bonus, which is currently up to 100,000 points, sign up here. After you’ve signed up, you can refer your own friends to the Platinum Card for a referral bonus of 15,000 points per person.

What Are The American Express Canada Foreign Transaction Fees?

All foreign purchases are processed at Amex's foreign currency exchange rate, which tracks the bank rate very closely with small fluctuations above and below that rate. A 2.5% foreign transaction fee is charged on top of that on all foreign purchases regardless of the currency.

How Does American Express Travel Work In Canada?

American Express Travel is Amex's online travel portal for buying flights, booking hotels and rental cars, and getting support from some of the best travel concierges in the business.

The $200 annual travel credit that comes with your Amex Platinum can be used either directly through the Amex Travel platform or as a statement credit after you've made a travel-related purchase with your card.

How Does American Express Concierge Work In Canada?

The Amex Platinum Concierge is definitely an under-rated benefit of the Platinum Card. It's totally free for as long as you have the card, and your concierge offers 24/7 assistance with a whole host of tasks.

Need a table for four at a fully-booked place in Paris or New York? No problem. Looking for the perfect gift for a friend visiting from out of town? Easy.

Personally, I generally use the Platinum Concierge to help me build travel itineraries when I'm visiting a new city, and they do a remarkable job. After a minute or two on the phone getting to know my preferences (Do I like fancy restaurants or low-key joints? Do I prefer museum hopping or getting lost walking around a neighbourhood? etc.), they send back a document of 30+ pages outlining restaurants and bars to check out, cultural attractions, events taking place when I'm in town, and more. It takes the Amex Concierge about 24-48 hours to compile a customized guide, so keep that in mind.

You can request help using email as well, though I find just calling them up is easier and faster, since Platinum Cardholders are put straight through and don't have to wait on hold.

Is There A Minimum Salary To Get The Amex Platinum In Canada?

No, there is no minimum salary to receive an American Express Platinum Card in Canada, though many factors do come into play before you get approved. The higher your salary, the more likely you are to get approved. A salary of $50,000 per year or above (with reasonably strong credit) is generally enough to get approved for the Platinum Card.

Does American Express Ask For Proof Of Income?

No, for most credit card applications Amex does not conduct income checks or request proof of income. However, you will be asked to state your income when you apply for the Platinum Card or any other Amex card in Canada.

Does My Amex Platinum Affect My Credit Score?

Your American Express Platinum Card doesn’t have a predefined credit, which means there's no credit utilization ratio to affect your credit score. If you don't pay your bill at the end of the month, though, this may negatively impact your credit score.

Can I Pay My Mortgage With My Amex PlatinumCard ?

No, currently American Express doesn’t allow you to make mortgage payments with your card. With that said, you can still use third-party service providers to act as intermediaries, though they often charge considerable fees.

Do You Have To Pay Amex Platinum Every Month?

Yes, you do need to pay off your American Express Platinum Card, because it's technically a charge card, not a credit card.

What's The Final Verdict Of Your Amex Platinum Canada Review?

As you've seen throughout this American Express Platinum Canada review, I'm a big fan (and a long-time user) of the card: it offers more perks and rewards than any other card on the Canadian market right now, and the value you get is second to none. This card will take your travels to new heights, and if you follow the advice above, you'll make at least $500 by having this card in your wallet.