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Review: The Platinum Card


Our review of the Platinum Card has been edited as of February 21, 2019 to reflect the most-up-to date offers available to cardholders.


The Platinum Card from American Express has a number of benefits. It allows you to earn points at an accelerated pace, provides you with access to airport lounges, and comes with a $200 annual travel credit and generous insurance coverage.


As a Platinum Cardholder, you’ll automatically be enrolled in the Membership Rewards First Tier of the Membership Rewards program and earn 3 points for each dollar you spend on restaurants, 2 points per dollar on travel and 1
point for all other purchases charged to your card. As a new cardholder, you’ll get 50,000 bonus points when you use your card to make $3,000 in purchases in the first three months.

The card also gives you access to the Canadian Platinum Lounge Benefit (which provides you complimentary airport lounge access at most major Canadian airports regardless of the fare purchased or the airline booked) and the Airport Club Program, which gives you complimentary lounge access in the United States or internationally when travelling on a specific airline.

There are also a number of credit card insurance products included with the card: Emergency medical insurance, car rental theft damage insurance, flight delay insurance, baggage delay insurance, lost or stolen bag insurance, hotel/motel burglary insurance, travel emergency assistance, $500,000 travel accident insurance, trip cancellation insurance, and trip interruption insurance.

All these features come at a high cost: A $699 annual fee. Although this is expensive, if you take advantage of all of the card’s features you may end up finding it worth the additional cost. Note that this card is a charge card and the balance must be paid in full each month or you’ll be charged a 30% annual interest rate.

If you’re looking for a superior travel rewards card, you may have found your match. The Platinum Card lets you earn points that can be redeemed for travel, dining, entertainment, and retail rewards. You can even transfer your points to other loyalty rewards programs such as Aeroplan.

Card details

  • $699 annual fee
  • Welcome Offer: 50,000 bonus points if $3,000 is spent on the card in the first 3 months. Plus, get an additional 10,000 bonus points after your first six months of card membership
  • Earn 3 points per $1 on restaurants, 2 points per $1 on travel, and 1 point per $1 on everything else
  • $200 annual travel credit awarded on the anniversary of your card membership
  • Get unlimited access to numerous airport lounges
  • Toronto Pearson Airport benefits including security bypass, discounted parking and valet car services

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