American Express Platinum Card
American Express · American Express
Frequent travellers who can use the lounge access, hotel status and annual credits to outweigh the high fee.
VaultNerd estimate based on the card's tier and income requirements, not an official issuer cutoff. Approval also depends on income, debt, and credit history.
Our verdict
Canada's flagship premium travel card. If you travel even a few times a year, the credits, lounge access and current 170,000-point offer deliver outsized value despite the $799 fee.
Reward rates
Dining & food delivery | 2x |
Travel | 2x |
Everything else | 1x |
VaultNerd values these points at ~2¢ each.
Welcome bonus
Up to 170,000 Membership Rewards points (limited-time offer, apply by July 28, 2026); first-year value reflects the 130,000 points earnable in year one
Requirement: Earn 90,000 points after $10,000 in purchases in the first 3 months, 40,000 more after $45,000 total in the first 12 months, plus 40,000 with a purchase in months 15-17
Pros
- Best-in-Canada lounge access and premium travel perks
- Credits ($200 travel + $200 dining + member extras) recoup most of the fee
- Huge limited-time welcome offer worth $2,600+ in year one
Cons
- $799 annual fee is steep and additional cards cost $250
- Charge card: balance is generally due in full monthly (30% on overdue balances)
- Modest 2x/1x everyday earn rates for the fee level
Perks
- $200 annual travel credit and $200 annual dining credit
- Unlimited access to 1,400+ lounges via the American Express Global Lounge Collection, including Centurion Lounges (plus one guest)
- $100 NEXUS statement credit and Toronto Pearson priority security, valet and parking perks
- Marriott Bonvoy Gold Elite and Hilton Honors Gold status
- Fine Hotels + Resorts benefits averaging $550 USD in value per stay
- $200+ in additional Member Extras statement credits
Insurance
- Travel emergency medical $5,000,000 (15 days, under age 65)
- Trip cancellation $2,500 and trip interruption $2,500
- Travel accident insurance $500,000
- Flight delay, baggage delay and lost/stolen baggage ($1,000 each)
- Rental car theft and damage (vehicles up to $85,000, 48 days)
- Hotel/motel burglary $1,000
- Purchase protection (120 days) and extended warranty (+1 year)
Frequently asked questions
Is the American Express Platinum Card worth it?
It charges a $799 annual fee, and we rate it 4.7 out of 5. It's best suited to frequent travellers who can use the lounge access, hotel status and annual credits to outweigh the high fee. The welcome bonus is worth roughly $2,600, which covers the first year for many people. Whether it's worth it for you depends on your spending. Run your own numbers through our credit card finder to see the net rewards after the fee.
What does the American Express Platinum Card earn?
It earns 2x on dining & food delivery, 2x on travel and 1x on everything else. We value these points at about 2¢ each, so the top rate works out to roughly 4.0% back.
What credit score do you need for the American Express Platinum Card?
We'd suggest a score of around 760 or higher, which puts approval in our "hard" band. This is a VaultNerd estimate based on the card's tier and stated requirements. Approval also depends on your income, existing debt and credit history.
Researching and writing about Canadian personal finance since 2026.
Last reviewed June 2026 · How we research
“American Express Platinum Card Review.” VaultNerd, https://www.vaultnerd.com/ca/credit-cards/amex-platinum, updated June 2026.
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