The Amex Platinum Card has long been considered one of the best travel cards in the market. Conversation about this card usually started with the high $699 (CAD) annual fee, but would evolve to the generous benefits that offset the annual fee. On February 13, 2019 the refreshed version of the card was released. A classy metal card with increased earning rates in dining (3X) and travel (2X) also included a decrease in non-bonus category from 1.25x to 1x. Although a more comprehensive card now, the decrease in non-bonus category earning did not sit well with existing card users, reigniting conversation on its “real worth”.
Important Note: Amex has confirmed that the increased earn rate on travel and dining will be effective Feb 13, 2019, while the decrease in earn rate for all other purchases (1.25x to 1x) will be effective June 25, 2019. This means that current card holders will earn 3x in dining, 2x in travel, 1.25x in all other purchases until June 25, 2019!
Is the Metal Amex Platinum Card worth it?
Short answer – depends on your spending habits. Stick with me here;
It is still a good card to earn quick 50,000 MR points (good for 2 round-trips in North America), with ability to convert to Aeroplan or British Airways Avios at 1:1, $200 travel credit (once per calendar year), accelerated earning of 3X on dining and 2X on travel, airport lounge access, elite memberships with several hotel chains and excellent insurance coverage. The Platinum Card will continue to peak the interest of those seeking a premium card in their wallets. The added *clang* of the metal card when it hits the table will make for a good conversation starter as well 🙂
Based on my personal valuation (in CAD) of the benefits;
Membership Rewards: 50,000 is easily worth $900
Annual Travel Credit: $200
Lounge Access: $500 ($399 USD)
Total Value: $1600 (conservative estimate)
Annual Fee of the Card: $699. Still worth it? Yes.
This is definitely a card for a frequent traveler that can further leverage the higher earning rates and the several travel benefits that accompany the card. Here is a quick glance at the card features;
**Disclosure**: This post was sponsored by Amex Bank of Canada. The views and opinions expressed in this blog, however, are purely my own. American Express Canada 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 below. My blog contains referral or affiliate links. I receive a small commission at no additional cost to you. Thank you for your continued support.
American Express Platinum Card (2019) – Apply Now
- Annual Fee: $699 ($499 with the travel credit)
- Welcome Bonus: 50,000 Bonus Membership Rewards® points by spending $3,000 in purchases in the first three months of card membership
- Earning Rate:
- 3X Membership Rewards® points for every $1 in Card purchases on eligible dining in Canada
- 2X Membership Rewards® points for every $1 in Card purchases on eligible travel
- 1X Membership Rewards® points on all other purchases.
- Other Key Benefits:
- New Metal Platinum Card, precision cut and personally engraved
- $200 CAD Annual Travel Credit to use towards any single travel booking of $200 or more charged to your Platinum Card and made on www.americanexpress.ca/travel or through Platinum Card® Travel Service
- American Express Global Lounge Collection which unlocks access to over 1200 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience
- Hotel Status Benefit: Hilton Honors Gold Status, Marriott Bonvoy Gold Elite, Radisson RewardsTM Gold Status, Shangri-La Golden Circle Jade membership
- Benefits at Toronto Pearson International Airport: Access to Pearson Priority Security Lane, Complimentary valet service at the Express Park and Daily Park, 15% discount (statement credit)on parking rates at the Express Park and Daily Park
- Comprehensive Travel Insurance coverage: Emergency Medical (out of province/country), Trip cancelation, Trip Interruption, $500,000 Travel Accident Insurance and more
- Platinum Concierge: Complementary assistance from dedicated team, just a phone call away
- Redeem Membership Rewards® points:
- Points transfer to various airline frequent flyer programs like Aeroplan®, Avios® or to hotel loyalty programs like Marriott Bonvoy Gold Elite
- The Fixed Points Travel Program, which offers fixed points amounts for eligible flights, regardless of when you travel
- Statement credits for any eligible purchase charged to your Card (1000 points = $10)
- Gift cards from premium retailers like Holt Renfrew
Detailed list of benefits and perks of the card are listed here