Review: American Express Platinum Card

Introducing the American Express Platinum card, the card with the highest annual fee that is available to the public in the Canadian market!

Amex-Platinum-Card

 

Well, do the benefits really justify the fees? Let’s take a look at what you get with $699 annual fees

  • 60,000 bonus membership reward points. These can be converted to Aeroplan, Avois, SPG. The values are hard to determine. I personally value Aeroplan at around 1.8cents/mile. While at the minimum, the points can be used to deduct off travel expenses at 1 point per cent. To an Aeroplan collector like me, this is worth about $1000, while at the minium, it’s worth $600 off your statement.
  • Priority Pass Prestige membership. This normally costs $399, but comes with your platinum card. Priority pass gives you access to over 700 airport lounges, this is an awesome benefit, only if you are an occasional traveler. I say this because most frequent flyers already have airline status that allows them into the lounges for free. On the other hand, those who travel once a year don’t get the chance to take advantage of this unlimited pass.
  • $200 annual travel credit. This is pure cash, all you have to do is call Amex Platinum Travel Services, and ask them to book a flight, hotel, car rental, or anything travel related. Earlier this year, I called and had them to book a weekend rental with Avis. I was on the phone for less than 10 minutes with a very friendly agent, booked a full size car for 3 days for about $180. Immediately I had a $200 credited to my account, even though the total was only $180.

travelcredit

  • 1.25 member reward (MR) points for every $1 spent across the board. While I don’t like the fact that there are no bonus points for certain merchant types, say compared to the Gold card, the 1.25 MR/dollar spent is decent.
  • Hotel status – instant SPG Gold, Le Accor Platinum, Club Carlson Gold, as well as a 5 night fast track to Fairmont Platinum! Again these are amazing benefits, but only if you travel on a regular basis.
  • Other benefits include the most comprehensive insurance package one could get for a premium card, fast track at Pearson airport security line, complimentary business or first class companion tickets, car rental programs… etc.

 

Looking through the list of benefits above , they worth easily well over $1000. To me, this card was a no brainer to apply for, at least for the first year with the 60,000 bonus. Is this card a keeper? That depends on your personal spending and travel patterns. For a frequent traveler, I think this is an excellent card. Personally, I will be cancelling this card after the first year, and likely switch back to the American Express Gold card.

What I don’t like about this card is that there are no bonus purchase categories, unlike the American Express Gold card. Which means for gas, groceries, drugstore, and travel purchases, you will get more from the gold card than this one. In addition, there are no anniversary bonus, which makes it harder to justify the $699 renewal fee.

To apply for the American Express Platinum card with a 60,000 signup bonus, click HERE. You can also find the link on their website, though that one will only give you 50,000 signup bonus points.

 

Note: The application links on this page are referral links, and I receive referral bonus through successful applications. To enhance the experience for my readers, I will never place any ads on my blog, referral bonus is the only source that helps me maintain this blog. If you believe the information on my site has helped you, I would really appreciate your support by going through this link. 🙂

One thought on “Review: American Express Platinum Card

  1. Pingback: How To Book Around-The-World Trip with Aeroplan | Travel For Less

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s