Premium credit cards aren’t for everyone. The high annual fees can cause hesitation for many potential cardholders. If you are spending hundreds of dollars on an annual fee, you want to ensure that you get great value in return from the benefits offered by the card.
The American Express Platinum card is one of the best premium credit cards in Canada, as it comes with a significant welcome bonus, plus a wealth of benefits that the right cardholder can utilize for serious value. That being said, half the battle is understanding the benefits and how best to use them.
Let’s take a look at everything you need to know about the American Express Platinum card and why it could be a great fit for your wallet.
Overview
Welcome Bonus
The American Express Platinum card currently has a welcome bonus in which new cardholders can earn up to 140,000 Membership Rewards points:
- Earn 100,000 Membership Rewards upon spending $10,000 in the first 3 months
- Earn 40,000 Membership Rewards when you make a purchase between 14 and 17 months
The American Express Platinum card earns Membership Rewards and offers cardholders a variety of benefits including an annual $200 travel credit, complimentary airport lounge access, an annual $200 dining credit, and instant elite status with Marriott Bonvoy and Hilton Honors.
Check out our American Express Platinum card review for more details.
In 2024, we awarded this card as the Best Credit Card for Airport Lounge Access.
140,000 Membership Rewards
$10,000
$2,281+
$799
Yes
Jan 28, 2025
This offer has an expiry date of Jan 28, 2025, so ensure you apply early enough to be approved by that date.
The American Express Platinum card does not have an annual personal income requirement or an annual household income requirement.
Earning Rates
The American Express Platinum card earns Membership Rewards points for all eligible purchases made on the card at the following rates:
- 2 Membership Rewards points per dollar spent on eligible dining, food delivery purchases, and American Express Travel Online purchases.
- 2 Membership Rewards points per dollar spent on eligible travel purchases including air, water, rail, or road transport, lodging, and tour operator sales.
- 1 Membership Rewards point per dollar spent on all other purchases.
Annual Fee
The American Express Platinum card has an annual fee of $799. This is on the higher end of annual fees in Canada, but this card comes with some very valuable benefits that can make paying this fee year over year worth it.
Benefits
If you are looking to maximize the value you can receive from your American Express Platinum card, there is no shortage of benefits and credits that you can utilize.
$200 Annual Travel Credit
American Express Platinum cardholders receive a $200 annual travel credit upon approval, and every anniversary year thereafter. Note that this credit resets on the anniversary year, and not on the calendar year.
This credit can be applied towards a single travel booking made through American Express Travel online when using your American Express Platinum card. Eligible travel bookings include purchases such as flights, hotels, and anything else bookable via the Amex Travel portal.
Once the travel credit is redeemed, it will show up as a statement credit within a few business days.
$200 Annual Dining Credit
The American Express Platinum card also includes a $200 annual dining credit upon approval, and every calendar year thereafter. This means that the benefit refreshes on January 1st.
This benefit is not automatically attached to the card, as cardholders will need to enroll via the “Amex Offers” section of their account and will need to spend at least $200 in one purchase at an eligible restaurant as outlined by American Express.
The list of eligible restaurants where this credit can be redeemed can be found here.
$100 Quadrennial NEXUS Membership Credit
Amerian Express Platinum cardholders are eligible to receive a $100 statement credit towards membership or renewal in the NEXUS program. This credit is available upon approval and renews every four years thereafter.
NEXUS membership is a must-have if you are a frequent traveler, as it saves time when it comes to airport security screening lines and customs lines. My NEXUS card is one of my favorite travel tools in my wallet, and I recommend the program to anyone who is willing to go through the steps to get approved.
Complimentary Airport Lounge Access
American Express Platinum cardholders receive unlimited airport lounge access to over 1,300 lounges that are part of the American Express Global Lounge Collection. This also typically includes access for a guest in addition to the cardholder, making it a great option for those individuals who tend to travel with a partner.
Even better, this complimentary airport lounge access also includes access to American Express Centurion lounges for the cardholder and up to two guests. If you are unfamiliar with Centurion lounges and what they offer, the Frugal Flyer team has visited a number of them and published reviews:
- Review: American Express Centurion Lounge at Denver (DEN)
- Review: American Express Centurion Lounge at Las Vegas (LAS)
- Review: American Express Centurion Lounge at Seattle (SEA)
- Review: American Express Centurion Lounge at New York LaGuardia (LGA)
In North America, Centurion Lounges are some of the best airport lounge experiences you can expect to have with gorgeously decorated spaces, curated cocktail menus, and excellent food choices. We definitely recommend taking the time to visit them if you come across one in your travels.
If you are a frequent traveler, the American Express Platinum card is one of the best credit cards for airport lounge access in Canada, and this benefit alone could make it worth adding this card to your wallet.
Complimentary Hotel Elite Status
Simply by holding the American Express Platinum card, cardholders will receive complimentary hotel elite status in two major hotel loyalty programs: Hilton Honors & Marriott Bonvoy.
Cardholders will receive Hilton Honors Gold status which is actually quite valuable as it grants access to complimentary breakfast for two when staying at eligible Hilton properties. The Hilton breakfast benefit can result in major savings during your travels, and some of the breakfast spreads can be quite impressive at higher-end hotels.
On the other hand, cardholders will also receive Marriott Bonvoy Gold Elite status which is far less valuable than the Hilton status. Holding this status can result in the potential for room upgrades and late check-outs, but nothing is guaranteed. Either way, it’s a free hotel status, so it is worth linking your Marriott Bonvoy account for the chance of some benefits during your next Marriott Bonvoy hotel stay.
Access to American Express Fine Hotels & Resorts
American Express Platinum cardholders receive access to the American Express Fine Hotels & Resorts booking platform.
The Fine Hotels & Resorts booking platform includes many of the most exclusive and luxurious hotels and resorts in the world, and Platinum card members who book their stay through this platform will receive perks such as breakfast for two, early check-in (where possible), late check-out, room upgrades, and an additional benefit such as a property credit to be used on any purchase that can be charged to your room bill.
If you are interested in booking a hotel that is part of the Fine Hotels & Resorts program, using this benefit is an easy way to get more out of your stay for no extra cost.
Benefits at Toronto Pearson International Airport (YYZ)
If you are located in Toronto or tend to fly through Toronto Pearson International Airport often, the American Express Platinum card offers three benefits to cardholders.
Platinum cardholders can access priority security lanes in terminals 1 and 3, complimentary valet service at terminal 1, and a 15% discount on parking rates at the Express Park and Daily Park parkades, awarded as a statement credit after the charge has been posted to the credit card account.
You can learn more about these benefits here.
Insurance Coverage
The American Express Platinum card offers ten types of insurance coverage, covering both personal and travel needs:
- Emergency medical insurance
- Trip cancellation coverage
- Trip interruption coverage
- Travel accident insurance
- Rental car theft and damage coverage
- Lost or stolen baggage insurance
- Baggage and flight delay coverage
- Hotel burglary insurance
- Purchase protection
- Buyers assurance protection
Refer to the American Express Platinum insurance certificate for additional details, including terms and conditions for eligibility.
Redeeming Membership Rewards Points
For travelers, American Express Membership Rewards points are one of the best loyalty currencies in Canada as they can be converted to popular frequent flyer and hotel loyalty program currencies, including Air Canada Aeroplan, Marriott Bonvoy, and many more.
Transferring Amex Membership Rewards points to frequent flyer and hotel loyalty programs is how you can receive the greatest value from your points, and unlock some stellar experiences including business class flights and luxury hotel stays.
For more details on where you can transfer your Membership Rewards points and what transfer bonuses are currently running, check out our Miles & Points Transfer Partner tool. If you are new to the idea of using miles and points to better your travels and save money, check out our Miles & Points Beginners Guide for more details.
Comparable Credit Cards
There are a few other premium credit cards in Canada that are worth comparing against before you commit to adding the American Express Platinum card to your wallet.
American Express Business Platinum Card
The American Express Business Platinum card is the business alternative to the Platinum card and is just as formidable when it comes to the value that it offers cardholders. While it is a business credit card, applicants who would qualify as a sole proprietorship are eligible to apply so don’t discount adding this card to your wallet.
The American Express Business Platinum card earns Membership Rewards points and offers cardholders benefits including complimentary airport lounge access, a $100 NEXUS membership credit, an annual $200 travel credit, and more.
Check out our American Express Business Platinum card review for more details.
150,000 Membership Rewards
$15,000
$2,501+
$799
Yes
Jan 28, 2025
The American Express Business Platinum card has a welcome bonus of up to 150,000 Membership Rewards points and offers many similar benefits to the Platinum card including an annual travel credit, NEXUS credit, complimentary airport lounge access, and much more.
Scotiabank Platinum American Express Card
The Scotiabank Platinum American Express card is an option worth considering for cardholders who want a premium credit card that still offers a few good benefits and a lower annual fee.
The Scotiabank Platinum American Express card earns Scene+ Rewards points and offers cardholders benefits such as no foreign transaction fees and ten complimentary airport lounge access passes annually.
Check out our Scotiabank Platinum American Express card review for more details.
80,000 Scene+
$10,000
$401+
$399
No
Oct 31, 2025
The Scotiabank Platinum American Express card has an annual fee of only $399 and a welcome bonus of up to 80,000 Scene+ Rewards points. Scene+ Rewards points can be redeemed towards travel, groceries, and more at a rate of 1 cent per point.
The card also offers 10 complimentary airport lounge passes for Priority Pass and Plaza Premium airport lounges, plus no foreign exchange fees on any transactions that are made in a foreign currency.
TD® Aeroplan® Visa Infinite Privilege Card
The TD® Aeroplan® Visa Infinite Privilege card is one of the best Aeroplan premium credit cards, and a great option if you frequently fly with Air Canada or participate in the Aeroplan loyalty program.
The TD® Aeroplan® Visa Infinite Privilege* card earns Aeroplan points and offers cardholders a variety of Air Canada benefits including priority boarding, free checked baggage, and Maple Leaf lounge access.
Check out our TD Aeroplan Visa Infinite Privilege card review for more details.
85,000 Aeroplan
$24,000
$1,186+
$599
Yes
–
The TD Aeroplan Visa Infinite Privilege card has a welcome bonus of up to 85,000 Aeroplan points and offers benefits including a free first checked bag on Air Canada flights for the cardholder and up to eight guests on the same itinerary, priority boarding on Air Canada flights, complimentary access to Maple Leaf airport lounges, and more.
Conclusion
The American Express Platinum card is a fantastic option for the cardholder who is interested in leveling up their credit card game and wants to access a plethora of valuable benefits for both personal and travel needs. This is truly one of the best credit cards in Canada for those who can stomach the annual fee, and we recommend adding it to your wallet if you can realize the value it can offer.
Josh Bandura
Latest posts by Josh Bandura (see all)
- Review: Scotiabank Passport Visa Infinite Card - Jan 14, 2025
- Definitive Guide: Virgin Atlantic Flying Club Household Accounts - Jan 13, 2025
- Best Credit Cards in Canada (January 2025) - Jan 1, 2025
- Best Bank Accounts in Canada (January 2025) - Jan 1, 2025
- Miles & Points in 2024: Year in Review - Dec 30, 2024