Emma Balmforth is a producer at Finder. She is passionate about helping people make financial decisions that will benefit them now and in the future. She has written for a variety of publications including World Nomads, Trek Effect and Uncharted. Emma has a degree in Business and Psychology from the University of Waterloo. She enjoys backpacking, reading and taking long hikes and road trips with her adventurous dog.
Get this card if you want to reap travel rewards and luxury benefits from your spending.
Pick something else if you don’t pay your card balance in full each month or don’t want to pay a steep annual fee.
Apply with a good to excellent credit score of 650 or higher.
Earn Aeroplan Miles for every $1 spent with the American Express AeroplanPlus Platinum Card. Aside from earning Aeroplan Miles, this card provides access to luxurious travel perks including worldwide lounge access, priority check in, valet service and an extensive suite of travel insurance, which can give you peace of mind when you’re travelling around the world.
This card is a charge card, which means you must pay off your credit card balance in full each month. The card also comes with an annual fee of $499 and the opportunity to purchase additional cards.
Welcome Bonus offer.
Receive 40,000 bonus Aeroplan Miles after spending $3,000 in the first three months of card membership
Earn Aeroplan Miles.
Earn 1.25 Aeroplan Miles for every $1 spent up to the first $25,000 annual spend, and earn 1.5 Aeroplan Miles for every $1 spent over $25,000
An extensive suite of travel insurance.
Get Travel Emergency Assistance, Travel Accident Insurance, Trip Cancellation and Interruption Insurance, Emergency Medical Insurance, Hotel/Motel Burglary coverage, Lost, Stolen and Delayed Baggage coverage, Delayed Flight Insurance and Car Rental Theft and Damage Insurance.
You’ll also like …
Aeroplan Mile flexibility.
If redeeming your Aeroplan Miles for flights isn’t on your agenda, you can also redeem your miles for hotel stays, cruises, vacation packages, car rentals, experiences, merchandise and more.
Earn double the Aeroplan Miles.
Earn 2x the Aeroplan Miles when you pay with your credit card and you present your Aeroplan number at over 150 Aeroplan Partner brands.
Get a free annual Partner Ticket. Once per year, redeem 15,000 Aeroplan Miles for a short-haul roundtrip Fixed Mileage Flight Reward in economy class and receive a second Parter Ticket for the same itinerary. Plus, get unlimited access to Air Canada Maple Leaf Lounges, as well as Air Canada priority check-in.
Valet service at Pearson International Airport.
Get access to a special valet service when you fly out of or into Pearson International Airport in Toronto.
Take advantage of Aeroplan’s Market Fare Flight Rewards and get unrestricted access to any available seats on any Air Canada flights.
Buyer’s assurance doubles the manufactures warranty (up to one year longer) when you use your American Express credit card to purchase the item. Your eligible items are also covered against theft and accidental damage with Purchase Protection.
Exclusive American Express perks.
American Express offer a range of opportunities to cardholder-only experiences and preferred seating at select events. You can enjoy concert, theatre, film, dining, shopping and travel perks.
What to watch out for
The card’s annual fee is $499. However, if you use the rewards and perks, you may find the annual fee is worth the expense.
Additional card fee.
The cost for an additional American Express AeroplanPlus Platinum Card is $199 annually, while an additional American Express AeroplanPlus Platinum Card is $50 annually. If you plan on racking up Aeroplan Miles faster by handing out cards to your family members, be wary of the additional annual card costs.
It’s a charge card, not a credit card.
The American Express AeroplanPlus Platinum Card is a charge card, which means you must pay your balance in full each month. If you don’t, you’ll be subject to a 30% APR on the balance.
Not as widely accepted overseas.
Compared to Visa and Mastercard, American Express is much less widely accepted in locations across Canada, the US and around the world. This might provide you with less opportunity to use the card, and therefore less opportunity to reap the rewards.
Consider other cards if …
You want cash back.
If you’re looking to reap the benefits of cash back, you may want to consider a cash back rewards card. These types of cards typically offer anywhere from 1-5% cash back on purchases. If you spend frequently on gas, groceries and dining out, a cash back rewards card may be more beneficial for you than a travel rewards card, especially if you don’t travel often.
You don’t want to pay an annual fee.
With a steep annual fee of $499, the American Express AeroplanPlus Platinum Card is not cheap by any means. If paying an annual fee this high is not in your best interests, consider other types of travel or rewards cards with lower, or even $0, annual fees.
You don’t pay off your balance in full each month.
Since the American Express AeroplanPlus Platinum Card is a charge card, you will be required to pay off your balance in full each month. Otherwise, you will be charged with 30% APR to balances not paid in full. If you find that you often carry a balance on your credit card and you don’t want the added stress of paying it off each month, you may find that a regular credit card is a better fit for your needs.
To apply for the American Express AeroplanPlus Platinum Card, you will need to be:
At the age of majority in your province or territory.
A Canadian citizen or a permanent resident with a valid Canadian credit file.
What credit score do I need?
You’ll have a better chance of approval if you apply with a good to excellent credit score of 650 or higher. In addition to having a good credit score, a relatively high annual income or combined household income may be beneficial for approval.
Here are a few other factors that might affect your odds of approval:
Hard inquiries on your credit report. If you have several hard pulls on your credit history, it could indicate to a provider that you’re desperate for credit or have trouble managing your debt. As a result, the provider may be less likely to approve your application.
Factors that tie into your credit score. Your credit utilization ratio can play a major factor in your approval. Customers who have low balances relative to their credit limits are usually preferable to providers.
What do customers say about this credit card?
Customers that have the American Express AeroplanPlus Platinum Card seem generally pleased with it, however customers do note that it is tailored toward big spenders and frequent travellers. Customers cite that the card has an excellent point to dollar earn ratio and an unbeatable selection of travel insurance.
On the flip side, customers note that American Express tend to have inflexible company policies. In addition, the annual cost of the card is noted as a negative, however it is said to be well worth the value if you take advantage of the many perks.
How to apply for the American Express AeroplanPlus Platinum Card
Head to the American Express website, navigate to the American Express AeroplanPlus Platinum Card page and click the Apply Now button.
Complete the application with information including your full name, home address, income source and total annual income.
Review and submit your application.
How long will it take to get my American Express AeroplanPlus Platinum Card?
Pre-approval for an American Express credit card is automated on the website, which means you may get a decision on your application within just 30 seconds. If there are issues with your application, it may take a few days or even weeks to hear back.
Once your application has been approved, you’ll typically receive your card in the mail within 5 to 10 business days.
I got the card. Now what?
Pay off your full balance every billing cycle. Register for an account on the American Express website to pay your balance online and enrol in autopay. Since the American Express AeroplanPlus Platinum Card is a charge card, you will need to pay off the balance entirely each billing cycle. If the balance is not paid in full, a 30% APR will apply.
Avoid fees. Late and returned payments will incur fees, so be sure to pay on time. If you’re enrolled in autopay, be sure to have enough funds in your account to pay off your balance each billing cycle.
Get help. If you’re not able to find what you need on the American Express Canada website, call 1-800-361-5373 to speak to a customer service representative.
The American Express AeroplanPlus Platinum Card is an ideal card if you’re a big spender and a frequent traveller. With a multitude of perks including an excellent point to dollar earn ratio, a wide selection of travel insurance and access to luxurious perks like airport lounges and valet services, the American Express AeroplanPlus Platinum Card is no doubt a powerful travel companion.
However, if you usually don’t pay off your full balance each billing cycle, you may struggle with a charge card. A regular credit card may be more suitable for you if you wish to carry a balance from month-to-month on your card.
Frequently asked questions about the American Express AeroplanPlus Platinum Card
There is an extensive list of Aeroplan partners including Air Canada, Budget, United Airlines, Turkish Airlines, Lufthansa, Amazon, Ebay, Chapters and many more which you can check out on the official website.
Aeroplan Miles expire if you have not accumulated or redeemed any points within a 12 month period.
In Canada, American Express is the only major provider that offers charge cards.
Yes, most credit cards offered by American Express do, however the offers differ as well as the annual fees of each card.
You’ll receive your points about 8 weeks after you reach the spending threshold.
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