Platinum Card From American Express: Is It Worth It?
The glitzy The Platinum Card® from American Express carries a high price tag, but its top-tier travel perks can offer significant value for frequent travellers, especially while the limited-time 170,000-point welcome offer is available.
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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®.
- Experience Amex’s best offer this year on The Platinum Card®
- New Platinum® Cardmembers can earn up to 170,000 Membership Rewards® points - that’s up to $1,700 towards a weekend away
- Earn 90,000 points after you spend $10,000 on your Card in your first 3 months of Cardmembership
- Earn an additional 40,000 points after you spend a total of $45,000 on your Card in your first 12 months of Cardmembership
- Plus, earn 40,000 points when you make a purchase between months 15 and 17 of Cardmembership
- Offer ends July 28, 2026
- 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
BACK TO TOPThe Platinum Card from American Express is a premium metal card that earns Membership Rewards points and comes with 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 access to the American Express Global Lounge Collection, with 1,550+ lounges in 140+ countries, including Centurion Lounges, Aspire, Plaza Premium and Priority Pass. Starting Jan. 1, 2027, Plaza Premium and Priority Pass visits are limited unless eligible spend requirements are met.
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: The $799 annual fee is hard to justify if you are not using the travel credits, dining credits, lounges and hotel perks.
High spending requirement for the full bonus: The full welcome offer requires $10,000 in spending in the first 3 months, $45,000 total spending in the first 12 months and an eligible purchase between months 15 and 17.
Lounge access is changing: Starting Jan. 1, 2027, Plaza Premium and Priority Pass visits are limited unless you meet eligible annual spending requirements. Access to other lounges in the Global Lounge Collection remains unlimited.
Pearson-specific perks: Priority security, valet and parking benefits are most useful if you regularly travel through Toronto Pearson.
American Express acceptance: American Express is useful, but Visa and Mastercard are still more widely accepted in Canada.
Foreign transaction fee: The card charges a 2.5% foreign transaction fee.
Insurance age limits: Emergency medical coverage is not available to cardmembers aged 65 and older.
Who should get The Platinum Card from American Express?
The Platinum Card is best for travellers who already have a reason to pay for premium travel benefits. That could mean you:
Travel several times a year.
Use airport lounges often enough to care about lounge access.
Can use the $200 travel credit and $200 dining credit without changing your normal habits too much.
Book hotels where Fine Hotels + Resorts perks can matter.
Value hotel status, concierge service, airport benefits or premium event access.
Can hit the welcome-offer spending thresholds without stretching your budget.
The card may also work for someone who travels less often but in a more premium way, especially if they can use the annual credits and hotel benefits on one or two bigger trips.
It makes less sense for people who want a simple rewards card, rarely fly, do not want to track credits or mostly want strong earn rates on groceries, gas or recurring bills.
Is The Platinum Card from American Express worth it?
BACK TO TOPIf you have to ask, probably not.
With a $799 annual fee, this card only makes sense if you’ll use its perks to the fullest: earning the welcome bonus, relaxing in lounges and taking advantage of hotel upgrades and credits. The current welcome offer is much richer than the previous 100,000-point offer, but earning the full 170,000 points requires significant spending and keeping the card into a second year.
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 with points alone. 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 points, before factoring in annual credits or the welcome offer.
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 travellers who can use the credits, lounges and hotel perks, the Platinum Card can more than pay 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: American Express Global has a Trustpilot rating of about 1.4 out of 5 stars, based on more than 5,100 reviews, at the time of this writing.
The Platinum Card from American Express eligibility
BACK TO TOPWho 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, 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
BACK TO TOPFor a limited time, new Platinum® Cardmembers can earn up to 170,000 Membership Rewards® points — worth up to $1,700 in value — by meeting a few spending milestones (offer ends July 28, 2026):
90,000 points after spending $10,000 in the first 3 months.
40,000 points after spending a total of $45,000 in the first 12 months.
40,000 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 $2,500 in value in with the American Express Platinum Card, depending on how you redeem your points and perks:
$1,700 for the welcome bonus (Amex’s estimate): Up to 170,000 Membership Rewards points, valued at 1¢ each (limited-time offer ending July 28, 2026).
Note: Membership Rewards points are typically worth between 0.6¢ and 11.5¢ each, depending on the 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.
Airport lounge access: Entry to 1,550+ lounges worldwide through the Amex Global Lounge Collection (hard to quantify, but frequent flyers can save hundreds annually). Starting Jan. 1, 2027, Plaza Premium and Priority Pass visits become limited unless eligible spend requirements are met.
That puts the total potential card value at about $3,200, according to American Express. 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
BACK TO TOPThe Platinum Card from American Express vs. American Express Gold Rewards Card
BACK TO TOP
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®.
- Experience Amex’s best offer this year on The Platinum Card®
- New Platinum® Cardmembers can earn up to 170,000 Membership Rewards® points - that’s up to $1,700 towards a weekend away
- Earn 90,000 points after you spend $10,000 on your Card in your first 3 months of Cardmembership
- Earn an additional 40,000 points after you spend a total of $45,000 on your Card in your first 12 months of Cardmembership
- Plus, earn 40,000 points when you make a purchase between months 15 and 17 of Cardmembership
- Offer ends July 28, 2026
- 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
BACK TO TOPAmerican 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 170,000 points. Offer ends July 28, 2026. |
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.
What is the current Amex Platinum welcome offer?
New Platinum® Cardmembers can earn up to 170,000 Membership Rewards® points. To earn the full offer, you must spend $10,000 in the first 3 months, spend a total of $45,000 in the first 12 months and make a purchase between months 15 and 17 of Cardmembership. Offer ends July 28, 2026.
Is Amex Platinum lounge access changing?
Yes. Starting Jan. 1, 2027, Platinum Cardmembers will receive 6 complimentary visits per year to each of the Plaza Premium and Priority Pass networks (12 total), with 2 visits for supplementary cardmembers. Each person entering counts as one visit, so bringing a guest uses two. You can restore unlimited access to both networks by spending at least $20,000 on the card in a calendar year. Access to other lounges in the American Express Global Lounge Collection, including Centurion Lounges, remains unlimited.
Nerdy Verdict
Best for: Frequent travellers who want premium perks, lounge access and annual credits they will actually use.
Not ideal for: People who want simple rewards, broad acceptance or a low-effort card for everyday spending.
Why we like it: The card can deliver strong value through the welcome offer, annual credits, lounge access, hotel benefits and travel insurance. The catch is that most of that value depends on how you travel and how much you are willing to track.
DIVE EVEN DEEPER
Shannon Terrell
