The Platinum Card from American Express Review

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If you can afford the price of admission, the Platinum Card offers a world of luxurious travel opportunities.

With an annual fee of $699, The Platinum Card from American Express offers premium perks including an annual $200 travel credit, a welcome bonus of 50,000 Membership Rewards and access to over 1,200 airport lounges worldwide.

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Purchase Interest Rate

$699

Annual Fee

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Balance Transfer Rate

Details

Product NameThe Platinum Card from American Express
RewardEarn 3 Membership Rewards points for every $1 spent on eligible dining, 2 points on eligible travel purchases and 1 point on all other spend
Welcome OfferReceive 50,000 bonus Membership Rewards points when you spend $3,000 within the first three months of membership.
Purchase Interest RateN/A
Cash Advance RateN/A
Balance Transfer RateN/A
Interest Free Period Up to 31 days
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30-second take

  • Get this card if you travel frequently and want to pay the price for premium services.
  • Pick something else if you don’t want to pay an annual fee or don’t pay off your balance in full each month.
  • Apply with a good to excellent credit score of 650 or higher.

The basics

The Platinum Card from American Express opens cardholders up to a world of luxurious and premium travel services. Receive a welcome bonus offer of 50,000 Membership Rewards points when you spend $3,000 in the first 3 months of card membership. Get access to over 1,200 airport lounges worldwide, as well as dining options, experiences and more.

Since this is a charge card, you will need to pay off your entire balance in full each billing cycle. Additionally, the card comes with a hefty annual fee of $699. If you’re looking to collect Membership Rewards quicker by handing out cards to your family members, you’ll be looking at $175 annually for each additional card. You can however, receive additional Gold Cards for $50 annually.

The Platinum Card from American Express also provides cardholders with a $200 annual travel credit that can be used towards a travel purchase booked via the Platinum Card Travel Service or through American Express Travel Online using your Platinum Card. Although this card comes with a high price, the unparalleled experiences may be worth it.

The perks

  • 50,000 Membership Rewards points welcome bonus offer.

    In order to receive the 50,000 Membership Rewards welcome bonus offer, you must spend at least $3,000 in the first 3 months of card membership.

  • Earn 3 Membership Rewards points for every $1 spent on eligible dining, 2 points on eligible travel purchases and 1 point on all other spend

    Receive a $200 travel credit each year, which can be used towards any single travel booking of $200 or more. You must charge the purchase to your Platinum Card at American Express Travel Online or through the Platinum Card Travel Service in order for the purchase to be eligible.

  • Worldwide lounge access.

    Get access to over 1,200 participating airport lounges across 130 countries with your Platinum Card.

You’ll also like …

  • New card design.

    The new card design of the Platinum Card is made of metal, customised and engraved.

  • Earn up to 3 Membership Rewards points per $1 spent.

    Earn 3 rewards points for every $1 you spend on eligible dining in Canada, 2 rewards points for eligible travel transactions and 1 point on all other purchases.

  • Luxury travel and dining benefits.

    Get access to luxurious dining options, experiences and premium travel benefits. This includes access to special culinary experiences with the Global Dining Collection. Partners include Marriott International, Hilton Hotels and Resorts®, Radisson Hotel Group and Shangri-La Hotels and Resorts.

  • Fine Hotels and Resorts.

    You can look forward to complimentary benefits that offer an average value of US$550 at over 1,000 properties across the globe when you book through Fine Hotels & Resorts.

What to watch out for

  • The annual fee.

The card’s annual fee is $699. However, with so many rewards, the cost of the card may be worth the expense.

  • This is a charge card.

This is not a regular credit card, it is a charge card. This means you’ll need to pay off the entire balance in full each month. If you don’t pay the balance off in full, you will face a 30% APR.

  • 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.

Additional fees and charges may occur, such as a dishonoured payment fee of $25, likewise with a late payment fee of $0.

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.

  • You don’t want to pay an annual fee.
The Platinum Card from American Express comes with an annual fee of $699, which is a generous sum of money. If paying a fee this high is not in your best interests, consider other types of travel or rewards cards with lower, or even no annual fees.
  • You don’t travel much.

If you find that you don’t travel very often, then this may not be the right credit card for your needs. The Platinum Card from American Express is tailored toward frequent travellers who can benefit from using the insurance coverage as well as many of the other perks on offer including valet services, flight upgrades, airport lounge access and more.

Compare other American Express credit cards

Name Product Reward Purchase Interest Rate Cash Advance Rate Annual Fee Minimum Income Minimum Credit Limit
Earn 1 AIR MILES® for every $5 you spend at eligible sponsors, stores, drugstores and gas stations (up to $30,000 annually) and 1 Mile for every $10 you spend anywhere else.
19.99%
22.99%
$120
N/A
Receive up to 3,500 bonus AIR MILES®. Conditions apply (Ends January 20, 2020). Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
Earn 1 AIR MILES® for every $10 spent at eligible AIR MILES® Partners* and 1 mile for every $15 spent anywhere else
N/A
N/A
$180
N/A
Offers 2,000 bonus AIR MILES® when you spend $5,000 within the first 3 months of membership.
Earn 1 mile per $10 spent on eligible partners, groceries, gas stations and drug stores (up to $30,000 annually) and 1 mile per $15 on all other spending.
19.99%
22.99%
$299
N/A
Receive up to 3,800 AIR MILES Bonus Miles when you spend $3,000 (Ends January 20, 2020). Conditions apply. Offers 1.99% balance transfer for the first 6 months. No balance transfer fee upon application
Earn 1.25 points for every dollar you spend with no limit to the number of points you can accumulate
N/A
N/A
$499
N/A
Receive 40,000 points when you spend $5,000 within first three months of membership.
Get free annual partner ticket and unlimited access to Air Canada Maple Leaf Lounges as well as Air Canada priority check-in.
N/A
N/A
$499
N/A
Get free annual partner ticket and unlimited access to Air Canada Maple Leaf Lounges as well as Air Canada priority check-in. Receive 40,000 bonus Aeroplan Miles after spending $3,000 in the first three months of card membership. You can also earn an additional $150 Air Canada eGift Card after spending a total of $6,000 in purchases within the first six months of card membership.
Earn 1 mile for every $15 you spend at official sponsors and 1 mile for every $20 you spend anywhere else.
19.99%
22.99%
$0
N/A
Offers 150 AIR MILES® when you spend $1,000 within the first 3 months of membership.
Earn 1 Aeroplan Mile for every dollar spent. Double your miles on purchases at over 150 Aeroplan partner brands.
N/A
N/A
$60
N/A
New cardmembers receive 5,000 Bonus Aeroplan Miles when spending $500 in the first three months of membership.
Earn 1 Aeroplan Mile for every dollar you spend up to $10,000 and 1.25 Aeroplan Miles for every dollar spent over $10,000 per year.
N/A
N/A
$120
N/A
Offers 15,000 bonus Aeroplan Miles when you spend $1,500 within your first 3 months of membership.
Earn 1.25 Aeroplan Miles for every $1 charged on card purchases and 2 miles on eligible Air Canada purchases.
19.99%
22.99%
$899
$60,000
Receive a bonus $200 in annual travel credit to use towards flights, car rentals, hotels and more. Also receive 50,000 bonus Aeroplan Miles after spending $3,000 in the first three months of card membership and earn an additional $200 Air Canada eGift Card after spending a total of $6,000 in purchases within the first 6 months of card membership.
Earn 1 Membership Rewards point per $1 spent and 1 additional point per $1 spent at three eligible AMEX merchants in Canada.
N/A
N/A
$250
N/A
Offers 30,000 bonus points when you spend $5,000 within the first three months of card membership. Benefit from purchasing power that adjusts dynamically with your card usage and grows with your business over time when you maintain a good credit.
Earn 3x the points on daily business spend including office supplies & electronics, rides & gas, and eats & drinks and 1x the points on all other purchases.
19.99%
22.99%
$99
N/A
Earn up to 42,000 Membership Rewards® points in the first year of card approval. Offers 30,000 Welcome Bonus points when you spend $5,000 in purchases within the first 3 months of membership.

Compare up to 4 providers

Name Product Reward Purchase Interest Rate Cash Advance Rate Annual Fee Minimum Income Minimum Credit Limit
Earn 1 AIR MILES® for every $5 you spend at eligible sponsors, stores, drugstores and gas stations (up to $30,000 annually) and 1 Mile for every $10 you spend anywhere else.
19.99%
22.99%
$120
N/A
Receive up to 3,500 bonus AIR MILES®. Conditions apply (Ends January 20, 2020). Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
Earn 1 AIR MILES® for every $10 spent at eligible AIR MILES® Partners* and 1 mile for every $15 spent anywhere else
N/A
N/A
$180
N/A
Offers 2,000 bonus AIR MILES® when you spend $5,000 within the first 3 months of membership.
Earn 1 mile per $10 spent on eligible partners, groceries, gas stations and drug stores (up to $30,000 annually) and 1 mile per $15 on all other spending.
19.99%
22.99%
$299
N/A
Receive up to 3,800 AIR MILES Bonus Miles when you spend $3,000 (Ends January 20, 2020). Conditions apply. Offers 1.99% balance transfer for the first 6 months. No balance transfer fee upon application
Earn 1 mile for every $15 you spend at official sponsors and 1 mile for every $20 you spend anywhere else.
19.99%
22.99%
$0
N/A
Offers 150 AIR MILES® when you spend $1,000 within the first 3 months of membership.

Compare up to 4 providers

Name Product Reward Purchase Interest Rate Cash Advance Rate Annual Fee Minimum Income Minimum Credit Limit
Get free annual partner ticket and unlimited access to Air Canada Maple Leaf Lounges as well as Air Canada priority check-in.
N/A
N/A
$499
N/A
Get free annual partner ticket and unlimited access to Air Canada Maple Leaf Lounges as well as Air Canada priority check-in. Receive 40,000 bonus Aeroplan Miles after spending $3,000 in the first three months of card membership. You can also earn an additional $150 Air Canada eGift Card after spending a total of $6,000 in purchases within the first six months of card membership.
Earn 1 Aeroplan Mile for every dollar spent. Double your miles on purchases at over 150 Aeroplan partner brands.
N/A
N/A
$60
N/A
New cardmembers receive 5,000 Bonus Aeroplan Miles when spending $500 in the first three months of membership.
Earn 1 Aeroplan Mile for every dollar you spend up to $10,000 and 1.25 Aeroplan Miles for every dollar spent over $10,000 per year.
N/A
N/A
$120
N/A
Offers 15,000 bonus Aeroplan Miles when you spend $1,500 within your first 3 months of membership.
Earn 1.25 Aeroplan Miles for every $1 charged on card purchases and 2 miles on eligible Air Canada purchases.
19.99%
22.99%
$899
$60,000
Receive a bonus $200 in annual travel credit to use towards flights, car rentals, hotels and more. Also receive 50,000 bonus Aeroplan Miles after spending $3,000 in the first three months of card membership and earn an additional $200 Air Canada eGift Card after spending a total of $6,000 in purchases within the first 6 months of card membership.

Compare up to 4 providers

Name Product Reward Purchase Interest Rate Cash Advance Rate Annual Fee Minimum Income Minimum Credit Limit
Earn 3x the points on daily business spend including office supplies & electronics, rides & gas, and eats & drinks and 1x the points on all other purchases.
19.99%
22.99%
$99
N/A
Earn up to 42,000 Membership Rewards® points in the first year of card approval. Offers 30,000 Welcome Bonus points when you spend $5,000 in purchases within the first 3 months of membership.
Earn 1 AIR MILES® for every $10 spent at eligible AIR MILES® Partners* and 1 mile for every $15 spent anywhere else
N/A
N/A
$180
N/A
Offers 2,000 bonus AIR MILES® when you spend $5,000 within the first 3 months of membership.
Earn 1.25 points for every dollar you spend with no limit to the number of points you can accumulate
N/A
N/A
$499
N/A
Receive 40,000 points when you spend $5,000 within first three months of membership.
Earn 1 mile for every $15 you spend at official sponsors and 1 mile for every $20 you spend anywhere else.
19.99%
22.99%
$0
N/A
Offers 150 AIR MILES® when you spend $1,000 within the first 3 months of membership.
Earn 5 Marriott Bonvoy™ points per dollar spent at participating Marriott Bonvoy™ properties, 3 points on eligible gas, dining and travel and 2 points on all other spend.
19.99%
22.99%
$150
N/A
Receive 50,000 Marriott Bonvoy™ points when you charge $1,500 in the first 3 months of card membership.
Earn 1 Membership Rewards point per $1 spent and 1 additional point per $1 spent at three eligible AMEX merchants in Canada.
N/A
N/A
$250
N/A
Offers 30,000 bonus points when you spend $5,000 within the first three months of card membership. Benefit from purchasing power that adjusts dynamically with your card usage and grows with your business over time when you maintain a good credit.

Compare up to 4 providers

Name Product Reward Purchase Interest Rate Cash Advance Rate Annual Fee Minimum Income Minimum Credit Limit
Earn 1 AIR MILES® for every $5 you spend at eligible sponsors, stores, drugstores and gas stations (up to $30,000 annually) and 1 Mile for every $10 you spend anywhere else.
19.99%
22.99%
$120
N/A
Receive up to 3,500 bonus AIR MILES®. Conditions apply (Ends January 20, 2020). Offers 1.99% balance transfer rate in the first 6 months. No balance transfer fee upon application.
Get free annual partner ticket and unlimited access to Air Canada Maple Leaf Lounges as well as Air Canada priority check-in.
N/A
N/A
$499
N/A
Get free annual partner ticket and unlimited access to Air Canada Maple Leaf Lounges as well as Air Canada priority check-in. Receive 40,000 bonus Aeroplan Miles after spending $3,000 in the first three months of card membership. You can also earn an additional $150 Air Canada eGift Card after spending a total of $6,000 in purchases within the first six months of card membership.
Earn 3 Membership Rewards points for every $1 spent on eligible dining, 2 points on eligible travel purchases and 1 point on all other spend
N/A
N/A
$699
N/A
Receive 50,000 bonus Membership Rewards points when you spend $3,000 within the first three months of membership. Experience worldwide lounge access as well as luxury travel and dining benefits.
Earn 1.25 points for every dollar you spend with no limit to the number of points you can accumulate
N/A
N/A
$499
N/A
Receive 40,000 points when you spend $5,000 within first three months of membership.

Compare up to 4 providers

Name Product Reward Purchase Interest Rate Cash Advance Rate Annual Fee Minimum Income Minimum Credit Limit
Get 2% cashback after the Welcome Rate on all purchases. No cap and no limit.
19.99%
22.99%
$99
N/A
Receive 5% cash back (up to $300 cash back) and a 1.99% balance transfer rate in the first 6 months to new cardmembers. No balance transfer fee upon application.
1.25% cash back rate on all purchases when your welcome offer ends. No cap.
19.99%
22.99%
$0
N/A
Earn 2.5% cash back (up to $150 cash back) in the first three months. Offers 1.99% balance transfer rate in the first 6 months and no balance transfer fee upon application.

Compare up to 4 providers

Name Product Reward Purchase Interest Rate Cash Advance Rate Annual Fee Minimum Income Minimum Credit Limit
1.25% cash back rate on all purchases when your welcome offer ends. No cap.
19.99%
22.99%
$0
N/A
Earn 2.5% cash back (up to $150 cash back) in the first three months. Offers 1.99% balance transfer rate in the first 6 months and no balance transfer fee upon application.
Earn 1 mile for every $15 you spend at official sponsors and 1 mile for every $20 you spend anywhere else.
19.99%
22.99%
$0
N/A
Offers 150 AIR MILES® when you spend $1,000 within the first 3 months of membership.

Compare up to 4 providers

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What should I know before I apply?

To apply for The Platinum Card from American Express, you must be:

  • At least 18 years old, or the age of majority in your province or territory.
  • A Canadian citizen or a permanent resident and have 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 The Platinum Card from American Express?

Customers are very pleased with the benefits and perks of The Platinum Card from American Express, stating that it generally pays for itself over the course of a year if you make use of the rewards. Cardholders are pleased with the welcome bonus, the extensive travel insurance and the premium travel perks such as lounge access and valet services.

On the other hand, some negative reviews cite inflexible company policies. Positive reviews can be found about the customer service representatives, who are said to be prompt and helpful.

How to apply for The Platinum Card from American Express

  1. Click Go to site on this page to be directed to The Platinum Card from American Express page, and click Apply Now Securely.
  2. Complete the application with information including your full name, home address, income source and total annual income.
  3. Review and submit your application.

How long will it take to get The Platinum Card from American Express?

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, it may take a 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?

  • Repay your balance in full each billing cycle.
    Register for an account on the American Express website to pay your balance online and enrol in autopay. The Platinum Card from American Express is a charge card, so you will need to pay off the balance in full each billing cycle.
  • Avoid fees.
    Late and dishonoured 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 1-800-263-1616 to speak with a customer service representative.

Bottom line

If you can afford the high annual fee, The Platinum Card from American Express can be a powerful travel companion. With a great Membership Rewards program, lounge access and extensive travel insurance coverage, you can find yourself travelling the world with peace of mind.

However, if you don’t pay off your balance each month in full or simply don’t want to pay such a high price for a credit card, you should consider different options. Before you apply for any credit card, compare a variety of different card options in order to find the right card for your spending habits and financial needs.

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Frequently asked questions about The Platinum Card from American Express

Pictures: americanexpress.com/ca

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