Overall rating
First year value
$931
Get this card if you:
- are a frequent traveler who wants luxury perks like lounge access
- want to rack up rewards quickly
- want great travel insurance, perks and concierge services
Scores by category
Travel 4.1
Welcome Bonus 4.1
Rewards 3.3
At a glance
The American Express Platinum CardĀ® is a premium travel rewards credit card offering elevated Membership RewardsĀ® points on eligible purchases, with a substantial welcome bonus for new cardholders. Cardholders enjoy exclusive benefits such as access to over 1,300 airport lounges worldwide through the American Express Global Lounge Collectionā¢, comprehensive travel insurance, and personalized concierge services.
Highlights
$931
First year value
up to 100,000 points
Welcome bonus
$799
Annual fee
Supplementary Platinum Cards: $250 each
Interest Rates
21.99% - 28.99%
Purchase APR
Applies to your Flexible Payment Option balance. This charge card has both Due in Full and Flexible Payment Option balances. Penalty APR ranges from 25.99%-28.99%.
Eligibility
Excellent
Recommended credit score
Quick overview of The Platinum CardĀ® from American Express
The PlatinumĀ® Card from American Express is a luxurious travel card that stands out. This card is the "grandpappy of all Canadian credit cards." Not only does it come with a high annual fee and a staggering welcome bonus, but it also boasts a physical card made of thick metal. And that metal (weighing 18.5 grams) is so thick that inserting it into conventional chip readers can be a challenge.
This card is often considered the final boss for point enthusiasts or the default choice for high-net-worth individuals. It's so popular among credit card enthusiasts that it's sometimes called the "Plat," though we prefer the more common Amex Platinum Card.
$799 annual fee
Let's address the fee right away. Amex has significantly raised the annual fee to $799. However, don't let that deter you just yet. The perks associated with this card help offset the cost.
Who can benefit from the American Express Platinum Card?
Two types of people are attracted to ultra-premium cards like the PlatinumĀ® Card from American Express. First, there are those for whom money is not an issue. These individuals are unaware of the cost of everyday items like a pint of milk or a banana, so they are unlikely to be deterred by the substantial $799 annual fee.
The second type consists of credit card point collectors and those who carefully track their reward earnings. These cardholders are always searching for the best value and will likely transfer their points to a frequent flyer program to get a long-awaited dream vacation.
Regardless of your personality type, you will likely find value with the American Express Platinum Card thanks to the dizzying number of statement credits, airport lounge access and versatility of Amex Membership Rewards (MR) points.
Amex Platinum Pros and cons
Pros
-
Access to a wide range of luxury perks, including premium concierge service
-
Complimentary lounge membership providing access to over 1,400+ airport lounges worldwide
-
Annual statement credits: $200 annual travel credit, $200 annual dining credit
-
Special insurance coverages like trip cancellation/interruption, flight delay, lost or stolen baggage and rental car theft & damage.
-
Provides extended warranty (2 years) and purchase protection (120 days).
Cons
-
High annual fee of $799, one of the heftiest among Canadian cards
-
The rewards system can be complicated, especially for users not familiar with maximizing credit card points
-
Requires good to excellent credit for eligibility
The Platinum Card from American Express welcome bonus
And now, we arrive at the welcome bonus:
Earn up to 100,000 Membership RewardsĀ® points* ā thatās up to $1,000 in value.
Earn 70,000 Membership RewardsĀ® points after spending $10,000 on your Card within your first 3 months as a new PlatinumĀ® Cardmember. Thatās $700 towards your next flight.
Plus, earn 30,000 points* when you make a purchase between 14 and 17 months of Cardmembership.* Thatās $300 towards dinner out with friends.
*Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
Decide to keep it for another year? One purchase between 14- and 17 months nets you another 30,000. Itās pretty clear why the wealthy and the wannabes (present company included) have Platinum on the brain.
We estimate the welcome bonus to have a value of $700 when redeeming points towards a flight with Amex Travel, with that value jumping as high as $1,000 when meeting those spending requirements within the first 17 months of card membership.
When you do get your points (welcome or otherwise), itās a great idea to look at transferring them to a partner (like Marriott or Aeroplan) ā usually its value is magnified for a niche like flights or hotels.
While the Amex Platinum Card offers a massive sign-up bonus, don't expect big rewards for everyday purchases. Instead, the Amex Platinum is a card built around its bonus and perksānot its daily earning categories.
Card members earn the following rewards on card purchases:
- Earn 2X points on eligible dining and food delivery purchases in Canada
- Earn 2X points on eligible travel
- Earn 1X point on everything else
- 1 additional point on eligible hotel or car rental bookings at Amex Travel Online
The 2x points on dining, food delivery, and travel, and a 1x point on everything else are kinda underwhelming, right? That said, if you can easily put $10,000 on your Platinum in three months, those points can and will rack up, just not with the big multipliers youād expect from your garden variety daily spend cards.
No matter what you buy with The Platinum CardĀ®, itās vital to remember that itās not technically classified as a ācredit card.ā Interest applies per your cardmember agreement, information box and disclosure statement if the total new balance is not paid by the payment due date each month. All payments must be received by the payment due date n on the monthly statement.
In general, the Platinum CardĀ® Membership RewardsĀ® points have a single point dollar value of $0.01. They can be redeemed for flights, hotel stays, retail gift cards and more on the rewards website. Plus you can use them for exclusive member-only experiences and events offered through Amexās Platinum Concierge. You also have the option of redeeming points as a statement credit. While 1,000 points = $10 when redeemed for travel, the same 1,000 points may not carry the same value when redeemed elsewhere.
The Platinum CardĀ® Membership RewardsĀ® points have a single-point dollar value of $0.01. They can be redeemed for flights, hotel stays, retail gift cards and more on the rewards website. Plus, you can use them for exclusive member-only experiences and events offered through Amexās Platinum Concierge. You also have the option of redeeming points as a statement credit. While 1,000 points = $10 when redeemed for travel, the same 1,000 points may not carry the same value when redeemed elsewhere.
The Amex site claims you can āpay for almost anything with pointsā ā and it's true. Instead use the points to buy directly. The Amex Membership Rewards page lets you redeem them for everything from travel to Amazon and everything in between. Seriously, there is no reward program that is quite as comprehensive as Amex. Gift cards, Airbnb stays, spa and beauty, diningā¦ the list goes on.
Amex transfer partners
One of the best ways to maximize value with Amex MR points is by transferring them to a partner loyalty program. Transferring points to another program can help increase the value of your points and open up new award possibilities.
American Express partners with eight partners in Canada, including some of the biggest names in hotels and airlines:
- Air Canada Aeroplan
- Air France/KLM Flying Blue
- British Airways Executive Club (Avios)
- Cathay Pacific Asia Miles
- Delta Air Lines SkyMiles
- Etihad Guest
- Hilton Honors
- Marriott Bonvoy
You'll likely find the best value in transferring points to Aeroplan. That's because Air Canada offers the most flights and widest selection of airports for Canadian travellers. Aeroplan is part of the Star Alliance, meaning you can use Aeroplan points to book flights with carriers like Aegean Airlines, Lufthansa, Turkish Airlines, Air New Zealand, Avianca and more.
When it comes to transferring points, hotel brands like Marriott or Hilton offer the lowest value. Compared to airline programs, hotel loyalty programs provide significantly less value for money.
The Platinum Card is perhaps the most feature-rich travel card in Canada, with an array of goodies that weāll cover in detail, including:
- Entry into Amexās International Airline Program, which offers discounted companion tickets, complimentary airline upgrades and some special discounted airfares.
- Enjoy premium benefits at the Toronto Pearson Airport including security bypass, complimentary valet car service and discount car care and parking.
- Standard and premium Amex Entertainment Benefits, including Front of the Line, as well as special dining programs.
- Hotel perks. Cardholders get automatic gold status in several hotel programs, as well as hotel discounts.
Aside from those, the card has two additional perks that are particularly attractive to frequent travellers, and which could push The Platinum CardĀ® into the must-have category, despite its high annual fee.
Annual travel credit and dining credits
This is obviously one of the cardās most significant perks because it essentially reduces the $799 annual fee. Access both a is great.
If you travel even once a year, itās not difficult to imagine using this credit on a hotel room or a flight upgrade. Itās essential, however, to pay attention to the fine print. You must use the credit on travel purchases booked via American Express Travel Services (or by calling Platinum Card Travel Service) and can only use the credit ONE time per year on the SAME transaction. That means you canāt split it for one trip to pay for a checked bag and use whatās left over on another trip that same year to pay for seat selection. It must be used all at once on one travel expense. The other credit is made possible through Amexās partnership with Canadaās 100 Best, and have curated a list of some of the top restaurants nationwide.
Unlimited lounge visits
Despite my deep love of travel, I donāt enjoy airports. Thatās why the Airport Lounge Access perk is so important to me. It really can make what would be a hellish eight-hour layover into a thing of beauty thanks to excellent food, quality wines, free Wi-Fi, plush seating and sometimes even shower and nap areas. With The Platinum CardĀ® you can take full advantage of The American Express Global Lounge CollectionTM which unlocks access to over 1,300 airport lounges worldwide. This includes The CenturionĀ® Lounge network, Plaza Premium Lounges and hundreds of other domestic and international lounges designed to enhance your travel experience.
While they may be the least glamourous perks of a credit card, insurance benefits can be by far the most vital, especially if you end up needing medical attention while in a foreign country. As you would expect for the steep annual fee, The Platinum CardĀ® offers a comprehensive lineup of insurance:
- Emergency medical insurance: Up to $5 million in coverage for emergency medical expenses incurred in the first 15 days of your trip (for card holders under 65). We'll cover this one in more detail below.
- Trip cancellation/trip interruption: In the event of trip cancellation, youāre covered for non-refundable purchases made on your platinum up to $2,500 total.
- Flight delay insurance: Youāre covered for up to $1,000 when your boarding is delayed for more than four hours, for things like hotels, restaurants and sundry items purchased on your Amex Platinum.
- Baggage insurance: In the event your baggage is delayed for more than six hours, youāre covered up to $1,000 for reasonable purchases of clothing and necessary items. This also goes in the event itās lost or stolen, so long as you paid the full price of your airline ticket on your Amex Platinum.
- Travel accident insurance: Youāre covered up to $500,000 in the event of a major accident while travelling
- Car rental theft and damage insurance: So long as you rent a car valued less than $85,000 with your Platinum, receive coverage against theft, loss or damage.
- Extended warranty: Tack on an additional 1 year of warranty to products you purchase that have a manufacturer's warranty of less than five years.
- Purchase protection: Get up to 120 days of purchase protection for items purchased on your Platinum.
Emergency medical insurance (out of province/country)
This is possibly one of the most critical insurance features for people who travel frequently. Two of the most significant details to note are how many days youāre covered for and how much youāre covered in terms of dollar amounts. With The Platinum CardĀ® you are protected up to a maximum of $5 million per insured person (one of the highest dollar amounts for Canadian similar cards) for 15 consecutive days of each trip. While 15 days is fairly standard, the coverage is only available if youāre under 65 years of age. Once you hit that age threshold, youāre out of luck.
Other travel cards, like the Scotiabank Passport Visa Infinite Card, have a much lower annual fee and longer coverage. It also offers 3 consecutive days of coverage to those over age 65.
Personally, when a card comes with a $799 annual fee, I expect the emergency medical protection to be among the best possible available for all age categories. For me, this is one of the major drawbacks of The Platinum CardĀ®. Itās also discouraging that, while the Baggage Delay Insurance only kicks in after six hours, whereas other less costly cards (like the Scotiabank Gold American Express card kick in after only four hours. You can compare travel insurance credit cards via our detailed page on the issue.
ā” Extra benefits of the Platinum Card from American Express
- Member extras: Earn $200 or more in additional statement credits when you make qualifying purchases with partner brands
- Amex Global Dining Collection access: Amex cardholders enjoy access to dining experiences with the Global Dining Collection, including hard to get reservations and one-f-a-kind experiences
- Platinum concierge: Cardholders also enjoy free access to Platinum concierge. Platinum Concierge offers you complimentary assistance, anytime, 24/7, wherever you are worldwide
- Amex Experiences: Enjoy access to tough to get tickets through Front Of The LineĀ®, including presales, reserves seats, meet-and-greets and more
- Access to the American Express mobile app
- EMV chip and pin technology for contactless payments and an additional layer of security when shopping in-store or online.
How does the Amex Platinum compare?
Let's see how the Amex Platinum compares to similar credit cards.
up to $2500 in value
Welcome Bonus
$2,133
First Year Value
$0
Annual Value
Welcome Bonus: Earn up to $2,500* in value in the first 14 months, including up to 80,000 bonus Scene+ points. Expires Oct 31, 2025
Get this card if you...
-
travel often and want premium travel perks like lounge access
-
want to avoid paying foreign exchange fees
-
value a great welcome offer
Annual Fee & Annual Interest Rates
$399
Annual Fee
9.99%
Purchase
9.99%
Cash Advance
9.99%
Balance Transfer
Our Take
The Scotiabank Platinum American ExpressĀ® Card is a premium travel rewards credit card offering elevated earn rates on all eligible purchases, with additional benefits such as complimentary airport lounge access and comprehensive travel insurance. It charges no foreign transaction fees and provides access to exclusive events.
Eligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
-
The card offers a competitive low interest rate on purchases, cash advances, and balance transfers
-
Comprehensive insurance coverage
-
Complimentary Airport lounge access
-
No foreign transaction fees
-
Ideal for travelers as it has no foreign transaction fees
-
Offers a substantial welcome bonus that includes up to 80,000 Scene+ points
-
Enjoy premium perks like Hertz #1 Club Gold membership and concierge services.
Cons
-
High annual fee: At $399, the annual fee is steep, which could offset the rewards and benefits for some cardholders
-
Below average rewards rate: Lower compared to other cards with similar or lower annual fees
-
Limited American Express acceptance: Especially outside major cities
-
Rewards potential: The net rewards potential is relatively low when considering the high annual fee
-
Non-transferable points: Scene+ points cannot be transferred to other rewards programs
Annual Interest Rates
9.99%
Purchase
9.99%
Cash Advance
9.99%
Balance Transfer
Fees
$399
Annual Fee
$0
Foreign Transaction
5.00%
Balance Transfer
$5
Cash Advance
$29
Over The Limit Penalty
Rewards Scene+
2x
Scene+ points for every $1 spent on all other eligible purchases
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
0%
No foreign transaction fees
10
Complimentary airport lounge passes per year
Insurance Benefits
$1,000
Mobile device insurance amount
$2,000,000
Emergency medical insurance amount
$10
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
To qualify for this Offer make sure to open a new Scotiabank Platinum American Express credit card account (āAccountā) opened between January 3, 2025 and October 31, 2025. |
Our Take
The Scotiabank Platinum American ExpressĀ® Card is a premium travel rewards credit card offering elevated earn rates on all eligible purchases, with additional benefits such as complimentary airport lounge access and comprehensive travel insurance. It charges no foreign transaction fees and provides access to exclusive events.
Eligibility
Good (620 - 670)
Recommended Credit Score
$12,000
Required Annual Personal Income
Pros
-
The card offers a competitive low interest rate on purchases, cash advances, and balance transfers
-
Comprehensive insurance coverage
-
Complimentary Airport lounge access
-
No foreign transaction fees
-
Ideal for travelers as it has no foreign transaction fees
-
Offers a substantial welcome bonus that includes up to 80,000 Scene+ points
-
Enjoy premium perks like Hertz #1 Club Gold membership and concierge services.
Cons
-
High annual fee: At $399, the annual fee is steep, which could offset the rewards and benefits for some cardholders
-
Below average rewards rate: Lower compared to other cards with similar or lower annual fees
-
Limited American Express acceptance: Especially outside major cities
-
Rewards potential: The net rewards potential is relatively low when considering the high annual fee
-
Non-transferable points: Scene+ points cannot be transferred to other rewards programs
Annual Interest Rates
9.99%
Purchase
9.99%
Cash Advance
9.99%
Balance Transfer
Fees
$399
Annual Fee
$0
Foreign Transaction
5.00%
Balance Transfer
$5
Cash Advance
$29
Over The Limit Penalty
Rewards Scene+
2x
Scene+ points for every $1 spent on all other eligible purchases
4x
Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
0%
No foreign transaction fees
10
Complimentary airport lounge passes per year
Insurance Benefits
$1,000
Mobile device insurance amount
$2,000,000
Emergency medical insurance amount
$10
Emergency medical insurance over 65 days
$500,000
Travel accident insurance amount
$1,000
Hotel burglary insurance
$65,000
Rental car insurance amount
To qualify for this Offer make sure to open a new Scotiabank Platinum American Express credit card account (āAccountā) opened between January 3, 2025 and October 31, 2025. |
Google the Scotiabank Platinum American Express card and you might go āwoah, woah, woah ā this card says it offers a generous welcome bonus and perks, all for a $399 fee? Half the Amex Plat? What gives?ā Let me spare you the confusion and say Scotiabank goes through some very creative calculus to reach its welcome bonus numbers. It's broken down in its legal footnotes that includes estimations on how much foreign exchange fees youāll be saving and how many Scene+ points youāre going to earn by spending X amount. A lot of assumptions going on there.
Aside from the marketing BS, the Scotiabank Platinum is damn good. Lots of ways to earn and a dandy welcome bonus. The $399 price tag is kinda steep though, especially considering you donāt get the credits offered by the Amex Plat. Iām leaning OG Amex Plat on this, despite Scotiabank trying to steal a little of their valour.
Disclosures:
- Conditions Apply. Visit here for the Scotiabank Platinum American ExpressĀ® Card to learn more.*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.
up to 15,000 points
Welcome Bonus
$679.02
First Year Value
$529.02
Annual Value
Welcome Bonus: Earn up to 15,000 Membership RewardsĀ® points* by earning 1,250 Membership RewardsĀ® points for each monthly billing period in which you spend $750 on your Card in your first year as a new Cardmember. This could add up to 15,000 points in a year.*
Get this card if you...
-
quickly rack up rewards on dining and grocery purchases
-
want a flexible rewards program with travel rewards
-
want access to exclusive events and robust travel insurance
Annual Fee & Annual Interest Rates
$155.88
Annual Fee
21.99%
Purchase
21.99%
Cash Advance
Our Take
The American Express CobaltĀ® Card is a versatile rewards credit card designed for individuals who frequently spend on dining, groceries and travel-related expenses. It offers flexible redemption options and includes various travel and purchase protections, making it a comprehensive choice for those seeking to maximize rewards on everyday spending.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
High earn rates (up to 5% return on spending!)
-
Flexible month-by-month fee structure
-
Free supplementary cards
-
1:1 points transfer with selected hotels, airlines and frequent flyer programs
Cons
-
Accelerated earn rates only apply to purchases in Canada (not to purchases made abroad)
-
Amex has a more limited merchant acceptance rate than Visa and Mastercard
-
Slightly higher than average annual fee
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$155.88
Annual Fee
$2.5
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
Rewards Membership Rewards
5x
the points on eligible eats & drinks purchases in Canada
3x
the points on eligible streaming subscriptions in Canada
2x
the points on eligible gas, transit & ride share in Canada
1x
the points on everything else
1
additional Membership Rewards point for every $1 you charge on eligible hotel or car rental bookings made with American Express Travel
$100 USD
Get up to $100 USD hotel credit to use on amenities like dining, spa or other leisure facilities when charged to the room
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$250,000
Travel accident insurance amount
$500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 15,000 Membership RewardsĀ® points* by earning 1,250 Membership RewardsĀ® points for each monthly billing period in which you spend $750 on your Card in your first year as a new Cardmember. This could add up to 15,000 points in a year.*
Thatās up to $150 towards your next weekend getaway.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
Our Take
The American Express CobaltĀ® Card is a versatile rewards credit card designed for individuals who frequently spend on dining, groceries and travel-related expenses. It offers flexible redemption options and includes various travel and purchase protections, making it a comprehensive choice for those seeking to maximize rewards on everyday spending.
Eligibility
Fair (300 - 619)
Recommended Credit Score
$0
Required Annual Personal Income
$0
Required Annual Household Income
Pros
-
High earn rates (up to 5% return on spending!)
-
Flexible month-by-month fee structure
-
Free supplementary cards
-
1:1 points transfer with selected hotels, airlines and frequent flyer programs
Cons
-
Accelerated earn rates only apply to purchases in Canada (not to purchases made abroad)
-
Amex has a more limited merchant acceptance rate than Visa and Mastercard
-
Slightly higher than average annual fee
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
28.99%
Penalty
Fees
$155.88
Annual Fee
$2.5
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
Rewards Membership Rewards
5x
the points on eligible eats & drinks purchases in Canada
3x
the points on eligible streaming subscriptions in Canada
2x
the points on eligible gas, transit & ride share in Canada
1x
the points on everything else
1
additional Membership Rewards point for every $1 you charge on eligible hotel or car rental bookings made with American Express Travel
$100 USD
Get up to $100 USD hotel credit to use on amenities like dining, spa or other leisure facilities when charged to the room
Insurance Benefits
$1,000
Mobile device insurance amount
$5,000,000
Emergency medical insurance amount
$250,000
Travel accident insurance amount
$500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 15,000 Membership RewardsĀ® points* by earning 1,250 Membership RewardsĀ® points for each monthly billing period in which you spend $750 on your Card in your first year as a new Cardmember. This could add up to 15,000 points in a year.*
Thatās up to $150 towards your next weekend getaway.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
Two completely different cards, two completely different target audiences. The American Express Cobalt card is a slow and steady daily driver and a great card for young working professionals looking to build points over time. The Amex Plat is for the amazing perks, huge bonus and people who have either done the point math or literally have the spare money to have people do math for them.
For travel and quickly-earned point volume, the Amex Plat is in a different league than the Cobalt.
up to 60k pts
Welcome Bonus
$1,070
First Year Value
$470
Annual Value
Welcome Bonus: up to 60,000 Membership RewardsĀ® points* by earning 5,000 Membership Rewards points for each monthly billing period in which you spend $1,000
Get this card if you...
-
are a frequent traveller who wants to earn flexible rewards
-
want a great welcome bonus and rewards on everyday spending
-
want great travel perks and comprehensive travel insurance
Annual Fee & Annual Interest Rates
$250
Annual Fee
21.99%
Purchase
21.99%
Cash Advance
Our Take
The American ExpressĀ® Gold Rewards Card is a travel credit card that allows cardholders to earn points on everyday purchases, with accelerated rates for categories such as gas, groceries, and travel. These points can be flexibly redeemed for travel bookings, merchandise, or transferred to various airline and hotel loyalty programs, offering versatility for those seeking to maximize rewards on routine expenditures.
Eligibility
Very Good (671 - 739)
Recommended Credit Score
Pros
-
Generous welcome bonus of up to 60,000 Membership RewardsĀ® points.
-
Convertibility of Member RewardsĀ® points to popular airline and hotel loyalty programs (e.g. Aeroplan, Marriott).
-
Earn two points per dollar on travel, gas, grocery and drugstore purchases.
-
$100 annual travel credit when booking through American ExpressĀ® Travel online.
-
Built-in travel medical insurance and trip coverage.
Cons
-
$250 annual fee.
-
2.5% foreign transaction fee.
-
Travel medical insurance only covers those under age 65.
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
30.00%
Penalty
Fees
$250
Annual Fee
$2.5
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
Rewards Membership Rewards
2
Earn 2 points for every $1 in Card purchases at eligible gas stations, grocery stores and drugstores in Canada
2
Earn 2 points for every $1 in Card purchases on eligible travel purchases, including flights, hotels, car rentals, and more
1
Earn 1 point for every $1 in Card purchases everywhere else
1
Earn 1 additional Membership Rewards point for every $1 you charge to your Gold Rewards Card on eligible hotel or car rental bookings made with American Express Travel
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 60,000 Membership RewardsĀ® points* by earning 5,000 Membership Rewards points for each monthly billing period in which you spend $1,000 on your Card in your first year as a new Cardmember.*
Thatās up to $600 towards your next vacation.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
Our Take
The American ExpressĀ® Gold Rewards Card is a travel credit card that allows cardholders to earn points on everyday purchases, with accelerated rates for categories such as gas, groceries, and travel. These points can be flexibly redeemed for travel bookings, merchandise, or transferred to various airline and hotel loyalty programs, offering versatility for those seeking to maximize rewards on routine expenditures.
Eligibility
Very Good (671 - 739)
Recommended Credit Score
Pros
-
Generous welcome bonus of up to 60,000 Membership RewardsĀ® points.
-
Convertibility of Member RewardsĀ® points to popular airline and hotel loyalty programs (e.g. Aeroplan, Marriott).
-
Earn two points per dollar on travel, gas, grocery and drugstore purchases.
-
$100 annual travel credit when booking through American ExpressĀ® Travel online.
-
Built-in travel medical insurance and trip coverage.
Cons
-
$250 annual fee.
-
2.5% foreign transaction fee.
-
Travel medical insurance only covers those under age 65.
Annual Interest Rates
21.99%
Purchase
21.99%
Cash Advance
30.00%
Penalty
Fees
$250
Annual Fee
$2.5
Foreign Transaction
$2.75
Cash Advance
$29
Over The Limit Penalty
$45
Return Penalty
Rewards Membership Rewards
2
Earn 2 points for every $1 in Card purchases at eligible gas stations, grocery stores and drugstores in Canada
2
Earn 2 points for every $1 in Card purchases on eligible travel purchases, including flights, hotels, car rentals, and more
1
Earn 1 point for every $1 in Card purchases everywhere else
1
Earn 1 additional Membership Rewards point for every $1 you charge to your Gold Rewards Card on eligible hotel or car rental bookings made with American Express Travel
Insurance Benefits
$5,000,000
Emergency medical insurance amount
$500,000
Travel accident insurance amount
$500
Hotel burglary insurance
$85,000
Rental car insurance amount
Earn up to 60,000 Membership RewardsĀ® points* by earning 5,000 Membership Rewards points for each monthly billing period in which you spend $1,000 on your Card in your first year as a new Cardmember.*
Thatās up to $600 towards your next vacation.
*Current or former Cardmembers with this Card are not eligible for this offer. Other terms apply.
| Features | The Platinum by American Express | American Express Gold |
|---|---|---|
| Annual fee | $799 | $250 |
| Welcome offer | Earn up to 100,000 Membership RewardsĀ® points* ā thatās up to $1,000 in value. | Earn up to 60,000 Membership RewardsĀ® points ā thatās up to $600 in value. |
| Insurance | Comprehensive coverage | Comprehensive coverage |
| Benefits | Travel credit, dining credit, concierge, lounge access | Some lounge access, general Amex perks |
What do users say about the Amex Platinum Card?
... worth it? Absolutely is! They say you have to travel frequently. FK it: collecting the points over 2 years and using it for an almost $0 trip to Hawaii.
/u/whatthenickname
Is the American Express Platinum Card worth it?
Oh yeah. That $799 is going to be too tough a pill to swallow for most people, but for those who can see past that, thereās no doubt it more than makes up for it with the value it offers. It remains one of the hardest card cancellations Iāve ever made ā I loved it that much.
- Contact American Express for the most up-to-date referral bonus figures.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.
FAQs
Sandra MacGregor has been writing about finance and travel for nearly a decade. Her work has appeared in a variety of publications like the New York Times, the UK Telegraph, the Washington Post, Forbes.com and the Toronto Star.
Cam is a content marketer with a passion for saving, financial independence, and pulling off elaborate credit card point schemes. He has worked in Fintech and Finserve (specifically Group Retirement) and loves researching and writing about finance.
Explore the latest articles
CIBC offers new banking option for tradespeople
Skilled trade apprentices can get free banking, credit card perks, and a chance for tuition and tool bursaries and scholarships
Disclaimer
The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.
ā Terms and Conditions apply.