American Express Platinum Card® Review

With American Express' personal cards, you can see if you will be approved before you apply, without impacting your credit score. To make this decision, Amex runs a soft credit check instead of a hard credit check.

Most lenders perform a hard credit check when you apply for a new card, which can temporarily impact your credit score. A soft credit check, however, does not affect your credit score.

Instant decisions are only available for personal card applications and the soft credit check process is not available for applications done by phone. 

Let's begin by recognizing the American Express Platinum Card's welcome bonus, which is one of the biggest intro offers you'll come across in your credit card search. With extremely high earning potential, if you're a big enough spender, or simply have some large expenses coming up, you'll definitely be incentivized by this sign-up bonus. In fact, the Amex Platinum is considered one of top sign-up bonus credit cards in Canada.

To complement its admirable earnings and redemptions in the travel category, the American Express Platinum card tops everything off with an annual travel credit, securing its spot as one of the best travel credit cards in Canada.

Redeem $200 every year when you book through American Express Travel Online or make arrangements by calling the Platinum Card Travel Service. This credit is applicable towards any flight, hotel, car rental, or vacation booking.

For this offer to be valid, you’ll need to charge the entire travel cost to your Platinum Card and make sure your account is in good standing. The credit will also need to be applied towards a singular travel booking valued at $200 or more. To find this benefit, browse your billing statement for the “Platinum Annual Travel Credit.”

You only get one shot at using this perk per year and it must be redeemed in the same year in which it was received. Simply put, you cannot stock up on this benefit, meaning the credit won’t be carried into the next year. If you don’t use it, you’ll lose it (until of course the next one comes around). If you happen to cancel your credited trip after redemption, unfortunately, you will not be able to apply the credit to another booking that same year.

Overall, if you follow the Platinum Card’s travel credit’s terms and conditions, you’re in for a nice treat each year you book an eligible trip.

The Platinum Card’s dining credit comes through as a statement credit of $200, which is redeemable at some of Canada’s 100 Best Restaurants. This perk alone lands the Amex Platinum on FinlyWealth's list of top dining credit cards in Canada.

To set yourself up for this delicious deal, you’ll need to enrol through Amex Offers in your Online Services account or the American Express App – this is a one-time enrolment requirement that will automatically set you up for future redemption periods.

Similar to the travel credit, you’ll need to apply this credit to an eligible dining expense that costs $200 or more, and you’ll only be able to take advantage of the perk once per year in compliance with the redemption period, which resets annually on January 1st. The cost will also need to be covered completely by your Platinum Card. Additionally, if you don’t use the credit one year, it won’t be added to the following year’s credit – you get one credit per year.

You’ll also want to note that this credit is applicable exclusively to dine-in services (so don’t expect it to work towards delivery, takeout, or restaurant gift card purchases).

Ultimately, you can enjoy a significant discount on a special occasion dinner every year – whether that be for a birthday, an anniversary, or any other type of celebration.

With the American Express Global Lounge Collection, you’ll feel like the vacation started well before takeoff. The best part? Rather than having only a handful of complimentary airport lounge visits like you’ll see on other cards, the Platinum Card provides unlimited access to more than 1,400+ lounges at 500+ airports in 140 countries around the world, making it one of the top lounge credit cards in Canada.

Some specific lounges included in this collection are:

• The Centurion Lounge: with up to two additional guests permitted at no cost.
• Plaza Premium Lounges: with up to one guest allowed at no fee.
• Delta Sky Club: guests with same-day corresponding Delta departures may enter the lounge with the cardholder for an additional fee.
• Airspace Lounges: cardholders may be accompanied by up to two guests per visit, both at no additional cost.
• Escape Lounges - The Centurion Studio Partner: up to two complimentary companions are permitted.
• Priority Pass (which you will need to enrol for, call Platinum Card Service for assistance): available for the cardholder and up to one guest free of charge.
• Executive Lounges by Swissport: here, the cardmember's spouse, and up to two children under the age of 21, or one travel companion, may access the lounge for free.

Keep in mind that the list of participating lounges may change from time to time and that you must comply with each individual lounge’s terms and conditions during your stay. Access to each lounge will be subject to availability. Guest access policies may also vary by lounge location, so you'll want to double check individual terms prior to your visit.

For more information on your lounge access, always check your credit card agreement or contact customer service on the back of your card.

Have you ever wanted to feel like an elite guest at a hotel? The Platinum Card’s Hotel Status Benefit boosts you to the top tiers of participating hotel loyalty programs – without having to work your way up through multiple stays!

Here’s some further insight on the eligible status upgrades:

Hilton Honors Gold Status

Platinum cardholders can enrol in complimentary Hilton Honors Gold status. As a member of this program, you can receive perks such as:

• Room Upgrades: if your Hilton hotel happens to have a better room available, you might get an upgrade (applicable up to Executive Floor room types).
• A Point-Earning Bonus on Stays: accumulate more points on each stay, getting you one step closer to some free nights.
• Dining Credits: indulge in a daily food and beverage credit, or continental breakfast (depending on the hotel brand and location). You'll receive the credit for yourself and one additional guest registered under same room every night of your stay.
• Milestone Bonuses: after you've stayed at a Hilton hotel for 40 nights in the same year, you can receive bonus points on every 10 nights afterward.

Marriott Bonvoy Gold Elite Status

Similar to the Hilton Honors Gold Status, the Marriott Bonvoy Gold Elite Status program rewards guests with exclusive benefits, such as:

• More Points Per Purchase: earn extra points on every eligible hotel purchase, which includes room rates or other services that can be charged to your room, like dining or spa purchases.
• Priority Late Checkout: hit snooze and enjoy a late checkout until up to 2 p.m. (depending on availability).
• Enhanced Room Upgrades: if you arrive at a participating hotel and there happens to be a better room available, the staff will try their best to upgrade you.

Available to both basic and supplementary cardholders, there are a few ways you can take advantage of some travel perks at Pearson Airport as a Platinum cardmember. Here’s a brief overview of those benefits:

• Access to the Pearson Priority Security Lane (Terminals 1 and 3), available to both the cardholder and travel companions. There are also online single-use QR codes available for a seamless eGate entry experience.
• Complimentary valet service at Toronto Pearson Airport Terminal 1. You must charge the parking expense to your Platinum card to be eligible.
• 15% discount on parking at Express Park (Terminal 1) and Daily Park (Terminals 1 and 3), subject to availability. Remember to pay with your Platinum Card. After the charge has been applied to your account, you’ll receive a statement credit. This discount will not be applied to parking reservations made on the Greater Toronto Airport Authority’s (GTAA) Parking Reservation system or in addition to any other offers or discounts featured by the GTAA.

With the American Express Platinum Card, complimentary concierge service is always on-call 24/7.

No matter where you are, you can contact the Platinum Concierge for restaurant reservations, ticket purchases, transportation arrangements, or personal shopping assistance. These services are available at no additional charge, but the cardholder will be responsible for covering the cost of all transactions that take place through the service, including any taxes, fees, or shipping costs associated with each purchase.

To access Platinum Concierge services, please dial the number situated on the back of your American Express Platinum Card.

The Platinum Card's built-in NEXUS program rebate keeps you on track toward where you need to go, and covers some of the associated costs. With this perk, receive up to $100 in a statement credit when you charge any NEXUS application or renewal fees to your Platinum Card. This credit is available once per 4 year period, running from the initial card anniversary date to the day before the fourth card anniversary date.

For trip or legal assistance, Platinum cardmembers can also take advantage of the Global Assist Hotline. This hotline is open 24/7 and provides emergency assistance to cardholders who have traveled more than 100 miles away from home.

Some of the services you can expect include:

• Translation Services: for when you need to make arrangements in a foreign country but don't speak the native language.
• Passport Replacement Assistance: for when your passport is lost or stolen during your trip.
• Missing Luggage Assistance: for when your airline misplaces your belongings.
• Emergency Legal and Medical Referrals: for when you need legal or medical assistance but are unsure how to find it, or need help finding English-speaking services in these categories.

While access to this hotline is available at no additional cost, cardmembers will be responsible for any accumulated costs for the services booked through the program.

We can’t move on without discussing the Platinum Card’s comprehensive coverage. To complement the card’s travel perks, you’ll get 11 insurance categories, most of which are geared towards travellers. These categories include trip interruption and trip cancellation, flight and baggage delay, and travel accident insurance. Scroll back up to the top of this page for the full list of protections.

High rewards come with a high price tag. The American Express Platinum Card is quite expensive, which may make it less accessible for low to average spenders. That said, if you’re a frequent traveller who makes everyday dining purchases, the point earnings and perks can be paired together to offset some of the cost, but not all of it.

Since American Express specializes in travel credit cards, it’s only fair to bring up its overall acceptance rate. In some places, particularly in Europe, American express isn’t as widely accepted as a method of payment. If this is a concern for you, you might want to look for an alternative from another network.