Platinum Card From American Express: Is It Worth It?
Best for travellers who want added premium perks.
The Platinum Card® from American Express offers an impressive combination of travel benefits, exclusive offers and insurance coverage, but it comes with a high annual fee
The glitzy Platinum Card from American Express carries a high price tag, but its top-tier travel perks offer significant value.
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Points on eligible dining and food delivery purchases in Canada.
Points on eligible travel purchases.
Points on all other purchases.
As the name suggests, this card offers top-tier perks like free airport lounge access, an annual $200 travel credit and a full suite of insurances. However, it’s a charge card, so you must pay off the balance in full each month or face steep interest. And, for a premium travel card that costs $799 a year, the 2.5% foreign transaction fee is a bit of a letdown. Best for: High-end jetsetters who spend big on travel and don’t carry a balance.
Pros
- Annual credits totalling $640.
- Comprehensive and unlimited airport lounge access.
- No pre-set spending limit.
Cons
- Very steep $799 annual fee.
- 2.5% foreign transaction fee.
- Must pay off balance each month.
- Unlock special experiences with the Platinum Card®.
- Earn up to 100,000 Membership Rewards® points - that’s up to $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 15 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 Collection™ which unlocks access to over 1,400 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. Terms and Conditions apply.
- 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 $550 USD at over 1,600 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.
- American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, NerdWallet may receive compensation from American Express, which can be in the form of monetary payment.
The Platinum Card from American Express full review
The Platinum Card from American Express is a premium metal card that earns Membership Rewards points and unlocks an extensive suite of travel, dining, and lifestyle benefits. Cardholders earn accelerated points on dining, food delivery, and travel purchases.
Unlike a traditional credit card, this is a charge card, which means you’re generally expected to pay your balance in full each month.
Benefits of The Platinum Card from American Express
As a Platinum Cardmember, you get access to a wide range of premium perks:
Airport lounge access: Complimentary entry to the American Express Global Lounge Collection, with 1,550+ lounges in 140+ countries, including Centurion Lounges, Aspire, and Plaza Premium.
Annual credits: $200 Annual Travel Credit (for Amex Travel bookings); $200 Annual Dining Credit (curated list of Canadian restaurants); Up to $240 in Instacart statement credits (through Dec. 31, 2027); $100 NEXUS application/renewal credit (every 4 years).
Fine Hotels + Resorts® program: Complimentary benefits at 1,600+ luxury properties (average value of $550 USD per stay), including late checkout, daily breakfast for two, and room upgrades (when available).
Hotel elite status: Automatic Marriott Bonvoy Gold Elite and Hilton Honors Gold status.
Pearson Airport perks: Priority security lane, complimentary valet at Terminal 1, and a 15% discount on parking.
Comprehensive insurance: Coverage includes emergency medical (up to $5 million for applicants under 65 years old), travel accident, trip cancellation/interruption, flight delay, lost or delayed baggage, hotel burglary and car rental theft/damage.
Platinum Concierge and lifestyle perks: 24/7 personalized service, Global Dining Collection access, Amex Experiences™, and Front Of The Line® presale tickets.
Drawbacks of The Platinum Card from American Express
High annual fee: At $799, the fee is only worth it if you use the card’s premium perks regularly.
Pearson-specific perks: Benefits like priority security are limited to Toronto Pearson International Airport.
Age limits on insurance: No emergency medical coverage for cardmembers aged 65 and over.
Who should get The Platinum Card from American Express?
This card is ideal for:
Frequent travellers who will make use of unlimited lounge access, hotel benefits, and global concierge service.
High spenders on dining and travel, who benefit from the 2x earn rate in those categories.
Luxury travellers who value premium perks like late hotel checkout, complimentary breakfast, and room upgrades.
If you don’t travel often, or want rewards you can use more broadly without paying a steep fee, you may be better served by a lower-cost travel rewards card.
Is The Platinum Card from American Express worth it?
With a $799 annual fee, this card only makes sense if you’ll use its perks to the fullest: cashing in on the welcome bonus, relaxing in lounges, and taking advantage of hotel upgrades and credits. If you already know the value of lounge access — or have paid out of pocket for it — you’ll be more likely to justify the cost.
At a minimum, you’ll want to recoup your costs. According to NerdWallet analysis, one Membership Rewards point is worth $0.0288, on average. That means you’d need about 27,743 points to cover the $799 annual fee. Since the Platinum Card earns 2 points per $1 on dining and travel purchases, you’d have to spend roughly $13,872 every year in those categories to break even using the points.
Put simply: If you don’t travel often (or spend big on travel and dining), the $799 fee means paying for perks you won’t use — but for frequent jet-setters, the Platinum Card more than pays for itself.
American Express Canada now lets you check your eligibility for a personal card before you apply. You’ll get an instant decision through a soft credit check, with no impact to your credit score — a smart, easy way to apply with confidence.
American Express customer ratings
High in customer satisfaction: American Express ranks first out of 14 issuers in customer satisfaction, according to J.D. Power’s 2025 Canada Credit Card Satisfaction Study, a survey of 11,825 cardholders in Canada.
Low Trustpilot rating: 1.4 out of a possible 5 stars, based on over 4,800 reviews, at the time of this writing.
Low Better Business Bureau rating: 1.1 out of a possible 5 stars, according to more than 550 customer reviews on the Better Business Bureau website, at the time of this writing. American Express is not accredited by the BBB itself.
Amex Platinum Card eligibility
Who qualifies for The Platinum Card from American Express?
You must be a Canadian resident and at least the age of majority for your province or territory to be eligible for The Platinum Card from American Express. You also must meet credit score and income requirements.
American Express doesn’t publicly disclose annual income requirements for its Platinum Card. You must provide your annual income during the application process, which may be a factor during card approval.
Approximate credit score needed for approval
Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. What we do know is that higher scores have better chances of approval — that’s true no matter what type of credit you’re applying for.
Want to learn more? Our guide can help you figure out what credit score is typically needed for a credit card.
The Platinum Card from American Express rewards
New Platinum® Cardmembers can earn up to 100,000 Membership Rewards® points — worth up to $1,000 in value — by meeting a few spending milestones:
70,000 points after spending $10,000 in the first 3 months.
30,000 points with any purchase between months 15 and 17 of cardmembership.
2x points on eligible dining and food delivery purchases in Canada.
2x points on eligible travel purchases.
1x point on all other purchases.
Plus, earn 1 bonus point on eligible hotel or car rental bookings made through Amex Travel Online.
You could unlock up to $1,800 in value in with the American Express Platinum Card, depending on how you redeem your points and perks:
$1,000 for the welcome bonus (Amex’s estimate): Up to 100,000 Membership Rewards points, valued at 1¢ each.
Note — Membership Rewards points are typically worth between 0.6¢ and 11.5¢ each, depending on redemption method used, based on NerdWallet's valuation.
$200 annual travel credit: Redeemable on bookings through Amex Travel Online or Platinum Card Travel Service.
$200 annual dining credit: Use at select Canadian restaurants.
Up to $240 Instacart credits: Available within 12 months (through December 31, 2027).
$100 NEXUS credit: Statement credit for application or renewal fees (every 4 years; counted here in year one).
Fine Hotels + Resorts perks (approximately $550 USD in value, on average): Benefits include late checkout, daily breakfast and upgrades at more than 1,600 luxury properties.
Unlimited airport lounge access: Entry to 1,400+ lounges worldwide through the Amex Global Lounge Collection (hard to quantify, but frequent flyers can save hundreds annually).
That puts the total potential card value at about $2,500, according to American Express. Even at NerdWallet’s conservative point valuation, that’s well above the $799 annual fee, leaving a strong net positive for travellers who maximize the perks.
Amex Membership Rewards point value breakdown
The value of an American Express Membership Rewards point varies on the redemption method you choose, but you can expect to get around 0.6 to 11.5 cents per point.
11.52 cents per point for hotel redemptions.
1.74 cents per point for business class air fare redemptions.
1.42 cents per point for economy class air fare redemptions.
1 cent per point for statement credits.
0.76 cents per point for gift cards.
0.65 cents per point for merchandise.
Rewards calculator: See how many points you can earn
The Platinum Card from American Express vs. American Express Gold Rewards Card
Rewards breakdown
Rewards breakdownPoints on eligible dining and food delivery purchases in Canada.
Points on eligible travel purchases.
Points on all other purchases.
NerdWallet's take
NerdWallet's takeAs the name suggests, this card offers top-tier perks like free airport lounge access, an annual $200 travel credit and a full suite of insurances. However, it’s a charge card, so you must pay off the balance in full each month or face steep interest. And, for a premium travel card that costs $799 a year, the 2.5% foreign transaction fee is a bit of a letdown. Best for: High-end jetsetters who spend big on travel and don’t carry a balance.
Pros
- Annual credits totalling $640.
- Comprehensive and unlimited airport lounge access.
- No pre-set spending limit.
Cons
- Very steep $799 annual fee.
- 2.5% foreign transaction fee.
- Must pay off balance each month.
Card details
Card details- Unlock special experiences with the Platinum Card®.
- Earn up to 100,000 Membership Rewards® points - that’s up to $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 15 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 Collection™ which unlocks access to over 1,400 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. Terms and Conditions apply.
- 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 $550 USD at over 1,600 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.
- American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, NerdWallet may receive compensation from American Express, which can be in the form of monetary payment.
Rewards breakdown
Rewards breakdownPoints on eligible travel purchases.
Points on eligible purchases at gas stations in Canada.
on eligible purchases at grocery stores in Canada.
on eligible purchases at drugstores in Canada.
Point on purchases everywhere else.
NerdWallet's take
NerdWallet's takeThis flexible, mid-tier travel card is outfitted in an eye-catching stainless steel, typically reserved for premium cards with $500+ annual fees. The Amex Gold Rewards boasts broad rewards earning categories for eligible dollars spent on travel, gas, groceries and drugstore purchases. Perks like a $100 annual travel credit and airport lounge access add tangible value but only help offset the $250 annual fee if they’re put to use. Best for: Travellers seeking occasional lounge access and flexible, everyday rewards.
Pros
- Four complimentary Plaza Premium lounge visits annually.
- $50 NEXUS statement credit.
- Comprehensive travel coverage.
Cons
- Limited airport lounge passes.
Card details
Card details- Earn up to 60,000 Membership Rewards® points:
- New American Express® Gold Rewards Cardmembers, earn 5,000 Membership Rewards® points for each monthly billing period in which you spend $1,000 in net purchases on your Card.
- Earn 2 points for every $1 in Card purchases for eligible travel purchases, including flights, hotels, car rentals, cruises, and more.
- Earn 2 points for every $1 in Card purchases at eligible gas stations, grocery stores and drugstores in Canada, and 1 point for every $1 in Card purchases everywhere else.
- The Card is now available in your choice of Gold or Rose Gold metal options.
- Receive a $50 CAD statement credit when a NEXUS application or renewal fee is charged to your American Express Gold Rewards Card.
- You have access to an annual $100 CAD Travel Credit, compliments of your American Express Gold Rewards Card. Use the credit once annually towards any single travel booking of $100 or more charged to your Gold Rewards Card through American Express Travel Online.
- As a Gold Rewards Cardmember, you can receive complimentary membership in Priority PassTM – one of the world’s largest independent airport lounge programs. Escape the chaos of airports and relax in an oasis of calm and simply enjoy the fact that the travel experience has begun before your plane has even left the ground. Enrollment is required and entry fees apply.
- Enjoy four (4) complimentary visits per Calendar year to Plaza Premium Lounges across Canada. Entry fees apply once complimentary visits have been used.
- Charge any eligible purchase to your credit Card then log in to redeem your earned points for a statement credit.
- Transfer points 1:1 to several frequent flyer and other loyalty programs.
- 1 Free Additional Gold Rewards Card (a $50 value) to help you earn points faster.
- Subject to approval. The preferred rate for purchases is 21.99% and funds advances is 21.99%. If you have Missed Payments, the applicable rates for your account will be 25.99% and/or 29.99%. See the information box included with the application for the definition of Missed Payment and which rates apply to charges on your account and other details
- American Express is not responsible for maintaining of monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.
- To be eligible, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
Reasons you might want a different card
The Platinum Card may not be right for you if:
You don’t want to pay a $799 annual fee.
You don’t travel enough to make use of the card’s perks.
You rarely spend on dining or food delivery, where the card earns bonus points.
If that sounds like you, a lower-fee rewards card or a cash-back card may deliver better everyday value without the steep annual cost.
The Platinum Card from American Express facts
American Express Platinum Card | |
|---|---|
Card type | |
Interest rates | |
Regular/purchase APR | 21.99% on Flexible Payment Option balances. |
Cash advance APR | N/A. |
Penalty APR | Interest rate of 30% applies to each delinquent Due in Full charge. The Preferred rate of 21.99% applies to your Flexible Payment Option balance. If you have two separate missed payments in a 12 month period, the Flexible Payment Option rate for your account will be 25.99%. If you have three or more separate missed payments in a 12 month period, the Flexible Payment Option rate will be 29.99%. |
Fees | |
Annual fee | $799. |
Funds advance fee | 3% of the amount advanced, or $0.75. |
Foreign transaction fee | 2.5% of transaction amount. |
Rewards | |
Reward earn rates | 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. |
Intro offer | Up to 100,000 points. |
Rewards and benefits | American Express Membership Rewards points can be redeemed for travel experiences, merchandise, gift cards, statement credits towards eligible purchases and more. You can also transfer your points to American Express partner loyalty programs, including Aeroplan, Delta SkyMiles, Marriott Bonvoy and more. |
Other perks |
|
Insurance coverage | |
Extended warranty | Up to one additional year. |
Purchase protection | 120 days. |
Travel accident | Up to $500,000. |
Emergency medical | Up to $5 million per insured person per trip. |
Flight delay | Up to $1,000 (combined with baggage delay) for necessary accommodations, restaurant expenses and sundries. |
Baggage delay | Up to $1,000 (combined with flight delay) for essential clothing and sundry items. |
Trip cancellation | Up to $5,000 per trip for all insured persons combined. |
Trip interruption | Up to $6,000 per trip for all insured persons combined. |
Lost or stolen baggage | Up to $1,000 of coverage per trip for all insured persons. |
Hotel burglary | Up to $1,000 of coverage for personal items (excluding cash). |
Rental car theft/damage | For up to 48 days. |
Methodology
BACK TO TOPFrequently asked questions
Is the American Express Platinum Card the same as The Platinum Card from American Express?
Yes, the American Express Platinum Card (aka Amex Platinum) and The Platinum Card from American Express are the same thing. The names are used interchangeably.
Is it hard to qualify for The Platinum Card from American Express?
There’s no publicly-available minimum income requirement for The Platinum Card from American Express. Household income is, however, a required input when filling out your application. A combination of strong income and good credit will improve your chances of approval.
Does the Amex Platinum have a limit?
The Platinum Card from American Express has no preset spending limit because it’s a charge card, rather than a credit card that allows you to carry a balance from month to month. A no-limit card can be a helpful feature when you’re making purchases, but it can also make overspending a lot easier.
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Shannon Terrell
