Emma Balmforth is an Associate Editor at Finder. She is passionate about cryptocurrency, credit cards and loans, and enjoys helping people understand the often confusing world of finance. Emma has a degree in business and psychology from the University of Waterloo. She wants to help people make financial decisions that will benefit them now and in the future.
30-second take
Get this card if you spend big on groceries and gas or want to do a balance transfer.
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
The American Express AIR MILES Platinum Credit Card rewards new cardholders with 2,000 Air Miles bonus points when you spend $1,500 in the first 3 months of card membership. Earn 1 mile per $10 spent at eligible AIR MILES® sponsors, stores, drugstores and gas stations, 1 mile per $15 on all other spend.
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 $65 and additional cards are free of charge.
Aside from earning Air Miles, there is an optional balance transfer offer with the American Express AIR MILES Platinum Credit Card. Transfer your existing credit card debt over to the Platinum Credit Card at the time of application and get a low interest rate of 1.99% on the balance for a period of 6 months. With no balance transfer fee, this could be a powerful offer if you’ve got existing credit card debt.
The perks
2,000 Air Miles welcome bonus offer.
To earn 2,000 Air Miles, you will need to be a new cardholder and spend $1,500 in purchases during your first 3 months of card membership.
Optional balance transfer offer.
Balance transfer up to $7,500 or up to 50% of your credit limit (whichever is less) of existing debt to your new AIR MILES Platinum credit card. You will get a low interest rate of 1.99% for a period of 6 months. After the promotional period, the revert rate of 22.99% will kick in.
The balance transfer offer is only available at the time of online application and is subject to eligibility. In addition, any missed payments on the transferred amount will be charged at a rate of 22.99%. There is no balance transfer fee at the time of application.
Earn 1 Air Mile for every $10 spent at eligible stores.
Earn 1 mile per $10 spent at eligible AIR MILES® sponsors, stores, drugstores and gas stations, 1 mile per $15 on all other spend.
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.
Referral program.
Earn 500 bonus AIR MILES® for every approved referral (capped up to 7,500 AIR MILES® per year).
What to watch out for
Annual fee.
The card’s annual fee is $65. 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.
The balance transfer offer ends after 6 months.
The optional balance transfer offer will come to an end after 6 months, which means your balance will face the revert rate of 22.99%. Try to pay off your debt before the 6 months period is up in order to save on interest charges.
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.
It hurts to pay late.
If you pay off your balance late, you will incur an interest rate of 23.99% - 26.99% Variable.
Cash advance rates.
Withdrawing cash using your card will incur a 22.99% interest rate, which is charged from the moment you withdraw the funds.
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 $65. 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.
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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
Click Go to site on this page to be directed to the American Express AIR MILES Platinum Credit Card page, and click Apply Now Securely.
Complete the application with information including your full name, home address, income and financial details.
Review and submit your application.
How long will it take to get my American Express AIR MILES Platinum Credit 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 60 seconds. If there are issues with your application, such as missing information, it may take up to 10 days 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?
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 19.99% 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. In addition, this card can help you save on interest charges if you take advantage of the balance transfer offer.
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.
Frequently asked questions about the American Express AIR MILES Platinum Credit Card
No, there is no balance transfer fee with this offer.
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.
You can transfer the lesser of the two:
Up to American Express® AIR MILES® Platinum Credit Card or;
Up to American Express® AIR MILES® Platinum Credit Card of your assigned credit limit.
Pictures: americanexpress.com/ca
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