VaultNerd
American Express Platinum Card
travel4.7 / 5

American Express Platinum Card

American Express

Best for

Frequent travellers who can use the lounge access, hotel status and annual credits to outweigh the high fee.

Apply on American Express
Annual fee
$799
FX fee
2.5%
Purchase APR
30%
Income req.
—
Recommended credit score
760+
Approval difficulty
Hard approval

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

~$2,600 value

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)
Disclaimer: This article is for informational purposes only and does not constitute financial, tax, or legal advice. Information may be simplified, incomplete, or out of date. Consult a licensed professional before making financial decisions. VaultNerd may receive compensation from partners featured on this site — this does not influence our editorial content.
Written by
The VaultNerd Team

Researching and writing about Canadian credit cards and rewards since 2026.

Cite this page

“American Express Platinum Card Review — VaultNerd” — VaultNerd, https://www.vaultnerd.com/credit-cards/amex-platinum, updated June 2026.

Sources
  • American Express cardholder agreement and rates & fees disclosure
  • VaultNerd cards database