American Express AIR MILES Platinum Credit Card Review

30-second take

• Get this card if you spend big on groceries and gas

• Pick something else if you don’t want to pay an annual fee or want to earn cash back.

• Apply with a good to excellent credit score of 650 or higher.

The basics

If you spend big on groceries, gas and dining out, the American Express AIR MILES Platinum Credit Card could be a powerful companion.

Unlike the charge card that is so commonly offered by American Express, this card is a regular credit card, which means you don’t have to pay off the entire balance each billing cycle. There is a small annual fee of $120 and additional cards are free of charge.

The perks

• Welcome offer.

Earn a Welcome Bonus of 2,000 AIR MILES when you spend at least $1,500 in eligible purchases within the first three months. That’s enough to redeem for $200 towards your purchases with AIR MILES Cash.

• Earn AIR MILES.

Earn 1 AIR MILE for every $5 spent on eligible food, drink, gas and transit purchases (up to an annual spend of $30,000), and earn 1 AIR MILE for every $10 spent on all other eligible purchases (and after the $30,000 annual spend)

• Travel redemption benefits.

Take advantage of the Annual Travel Redemption Benefit. Once per calendar year, when you use Dream Miles to book your first single flight or package vacation through airmiles.ca or vacations.airmiles.ca, you can get Bonus Miles equivalent to 25% of the net number of miles used (up to a maximum of 750 Bonus Miles). Bonus Miles will be posted to the Collector account within 60-120 days of eligible redemption.

You’ll also like …

• Travel accident insurance coverage.

Receive complimentary $100,000 Travel Accident Insurance when you charge your tickets to your card. This can help provide peace of mind when travelling around Canada or overseas.

• Flexible rewards.

Redeem your Air Miles points for more than 1,000 different rewards. Choose from flights, hotel stays, movie tickets, electronics, merchandise and more.

• Earn twice the Miles.

Earn twice the Air Miles when you shop with your AIR MILES Platinum Card at participating Air Miles Sponsors and show your Air Miles Collector Card.

• Purchase benefits.

Buyer’s assurance doubles the manufacturers warranty (up to one additional year) when you use your American Express 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 with American Express Invites.

What to watch out for

• Annual fee.

  The card’s annual fee is $120. However, if you use the rewards and perks, you may find the annual fee is worth the expense. Additional cards are available free of charge, which means you can share them with your friends and family to rack up your Air Miles points faster. Remember that you will be responsible for all purchases made by additional cardholders.

• 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 don’t use Air Miles.

  If you don’t collect and redeem Air Miles, a different card will likely suit your needs better. This card is tailored toward customers who frequently travel and take advantage of the Air Miles offers, as well as the host of travel insurances on offer. If you prefer to collect Aeroplan Miles or Amex Membership Rewards, a different American Express card may be a better fit.

• You don’t want to pay an annual fee.

  The American Express AIR MILES Platinum Credit Card comes with an annual fee of $120. If paying an annual fee is not in your best interests, consider looking into a no annual fee credit card.

• You want extensive travel insurance.

  The AIR MILES Platinum Card offers basic travel insurance, however the insurance on offer is less extensive than many other American Express cards. If you’re looking for additional coverage such as lost or stolen baggage, cancelled trip or flight insurance and more, a different Amex card will likely suit your needs better.

Compare other American Express credit cards

What should I know before I apply?

To apply for the American Express AIR MILES Platinum Credit Card, you will need to meet the following criteria:

• Be at least 18 years old, or the age of majority in your province or territory.
• Be a Canadian citizen or a permanent resident with a valid Canadian credit file.

What credit score do I need?

Having a good to excellent credit score of 650 or higher will give you a better chance of your application being approved. Also having a relatively high annual income or combined household income may be beneficial for approval.

Other factors that might affect your odds of approval include:

• Few hard inquiries on your credit report. Having several hard pulls listed on your credit history can indicate to lenders that you’re desperate for credit or have trouble managing your current debt. The provider may be less likely to approve your application if this is the case.
• Factors that tie into your credit score. Your credit utilization ratio can play a major factor in the approval of your application. Customers who have low balances relative to their credit limits are usually preferable to providers.

What do customers say about this credit card?

Customers say positive things about the American Express AIR MILES Platinum Credit Card, although there have been complaints about the inflexible policies of the Air Miles program itself. Customers are pleased with the relatively low annual fee of the credit card and the perks and rewards offered by this card.

On the other hand, customers note that American Express tend to have inflexible company policies, but cardholders say positive things about the customer service team, who provide prompt and helpful service.

How to apply for the American Express AIR MILES Platinum Credit Card

1. Head to the American Express website, navigate to the American Express AIR MILES Platinum Credit Card page and click the Apply Now button.
2. Complete the application with information including your full name, home address, income and financial details.
3. Review and submit your application.

I got the card. Now what?

• Make your repayments.
  Register for an account on the American Express website to pay your balance online and enroll in autopay. Since this card is a regular credit card, you are not obligated to pay off the balance in full each month. If you don’t pay the full balance each month however, you will face a 20.99% APR.
• 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.
• Contact American Express.
  If you’re not able to find what you need on the American Express Canada website, call 1-888-247-6453 and speak to a customer service representative.

Bottom line

The American Express AIR MILES Platinum Credit Card can be an affordable travel companion if you’re looking for a way to rack up Air Miles through your everyday spending.

However, if you’re looking for a no annual fee card or you simply don’t collect Air Miles Reward Miles, you may want to consider a different type of credit card that is better tailored toward your financial situation and spending habits.

Back to top

Frequently asked questions about the American Express AIR MILES Platinum Credit Card

• Where can I use my Air Miles points?

  You can redeem your Air Miles points within the regular Air Miles Reward Program for flights, experiences, merchandise and even cash rewards. Some AIR MILES Partners include WestJet, Budget car rentals, National Car Rental and many more.

• Do other American Express cards come with welcome bonus offers?

  Yes, most credit cards offered by American Express do, however the offers differ as well as the annual fees of each card. Many other credit card providers offer welcome bonuses too with less steep annual fees.

Pictures: americanexpress.com/ca