The Platinum Card
Annual Fee
$699.00
Interest Rate
30.00%*
Balance Transfer
-
Cash Advance
-
Credit Score
Excellent
Rewards
3.00%*
- New Platinum Cardmembers can earn 50,000 Bonus Membership Rewards points after spending $3,000 in purchases in the first 3 months of Cardmembership.
- Earn 2 points for every $1 in Card purchases on eligible travel.
- Earn 3 points for every $1 in Card purchases on eligible dining in Canada and
- Earn 1 point for every $1 in all other Card purchases.
- Enjoy complimentary access to over 1,200 airport lounges across 130 countries and counting.
- Enjoy access to special culinary experiences with the Global Dining Collection.
- Receive a CAD$200 Annual Travel Credit that can be used towards any single travel booking of $200 or more charged to your Platinum Card through American Express Travel Online or through Platinum Card Travel Service.
- Precision-cut and engraved, the metal Platinum Card is as strong and resilient as the member who carries it.
- No pre-set spending limit
- Flexible ways to use your points, including: statement credits for any eligible purchase charged to your Card, The Fixed Points Travel Program, which offers fixed points amounts for eligible flights, regardless of when you travel; various airline frequent flyer programs like Aeroplan, Avios or to hotel loyalty programs like Marriott Bonvoy, and gift cards from premium retailers like Holt Renfrew.
- Emergency Medical Insurance (Out of province/country)
- Trip Cancellation Insurance
- Trip Interruption Insurance
- $500,000 Travel Accident Insurance
- Additional Insurance Benefits
- Fraud Protection Guarantee
- Purchase Protection Plan
- Buyer’s Assurance Protection Plan
- You are a Canadian resident and have a Canadian credit file
- You are of the age of majority in the province or territory of residence
Summary
The Platinum Card offers its holders premium rewards for traveling, dining and hotels. With extensive travel and purchase protection, as well as special access to airport lounges and culinary experiences, the precision-cut card will take you where you need to go in safety and style. New Platinum Cardmembers can earn 50,000 Bonus Membership Rewards points after spending $3,000 in purchases in the first 3 months of Cardmembership.
Our Review
The Platinum Card
The Platinum Card offers its holders premium rewards for traveling, dining and hotels. This card is certainly aimed at lovers of luxury, with premium perks including access to airport lounges, golf memberships, and valet parking, but coming at the weighty price of a $699 annual fee. The card does, however, come with even more benefits, like Front Of The Line access, extensive travel insurance and purchase protection, a $200 Annual Travel Credit, and the ability to earn points to be redeemed in an array of flexible ways including travel credits. More perks include access to special culinary experiences with the Global Dining Collection, Fine Hotels & Resorts benefits hotel status benefits, a 24/7 concierge service, and even more benefits at Toronto Pearson International Airport. Points are earned at a rate of 3 points per dollar spent on eligible dining in Canada, 2 points per dollar spent on eligible travel, and one point per dollar for all other purchases charged to the card. So if you’re willing to pay a higher annual fee to travel, dine and stay in safety and in style, this card may be the one for you.
As per our rating system, this card scored 23/25 on rewards, 13/25 on interest rates and balance transfers, 25/25 on perks and insurance, and 19/25 on annual fees. Therefore, the total smart score of this card is 80/100.
Pros
- New Platinum Cardmembers can earn 50,000 Bonus Membership Rewards points after spending $3,000 in purchases in the first 3 months of Cardmembership.
- Earn 2 points for every $1 in Card purchases on eligible travel.
- Earn 3 points for every $1 in Card purchases on eligible dining in Canada and
- Earn 1 point for every $1 in all other Card purchases.
- Enjoy complimentary access to over 1,200 airport lounges across 130 countries and counting, as well as discounted companion tickets.
- Enjoy access to special culinary experiences with the Global Dining Collection.
- Receive a $200 Annual Travel Credit that can be used towards any single travel booking of $200 or more charged to your Platinum Card through American Express Travel Online or through Platinum Card Travel Service.
- No pre-set spending limit
- Enjoy Front Of The Line special perks, and access to the platinum concierge.
- Flexible ways to use your points, including: statement credits for any eligible purchase charged to your Card, The Fixed Points Travel Program, which offers fixed points amounts for eligible flights, regardless of when you travel; various airline frequent flyer programs like Aeroplan, Avios or to hotel loyalty programs like Marriott Bonvoy, and gift cards from premium retailers like Holt Renfrew.
- Extensive travel and purchase insurance.
Cons
- A whopping $699 annual fee
- Balances not paid in full will have an interest rate of 30%
- Additional cards cost $175 for Platinum and $50 for Gold cards.
- American Express is not accepted everywhere.