American Express Air Miles Platinum Credit Card

Andrew Reyes  | 
  • Annual percentage rate (APR): 20.99% to 21.99%.
  • Purchase intro APR: None.
  • Introductory bonus: 2,000 bonus miles for $1,500 spent.
  • Rewards: One mile per $10 or $5 spent.  
  • Annual fee: $120.
  • Late fee: $25 “dishonored payment” fee.
  • Credit score: Good to Excellent (650-850).
  • Compare cards here.

Benefits

The American Express Air Miles Canada Platinum Credit Card provides benefits to frequent travelers who want to earn rewards they can spend on airline tickets and other travel purchases.

  • Earn rewards points quickly: The Amex Air Miles Canada Platinum card allows users to earn up to one point per $5 spent. For those who use the Platinum frequently, these points can add up rapidly. If you redeem points for flights, you need at least 1,200 points.
  • You can use points on many different airlines: Air Miles partners with all major Canadian and U.S. airlines, British Airways, Alitalia, Air New Zealand, and Iberia. You may also redeem points at major hotel chains such as Marriott, Westin, Hilton, and InterContinental. Cardholders can also get exclusive deals on vacation packages through the Amex travel portal Airmiles.ca.
  • Lots of perks: In addition to making it easy to earn and use miles, Amex cardholders get travel accident insurance, extra buyer protection on purchases, and car rental insurance. To qualify, you need to buy the tickets or other purchases with your Air Miles Platinum Card. Amex members who have premium cards like the AirMiles Platinum also get access to event ticket presales and exclusive deals on dining, travel, and entertainment.
  • Generous intro bonus offer: New users can earn 2,000 bonus points if they spend $1,500 in the first three months of card ownership. Two-thousand points is enough for some short-haul economy flights, so you can earn a free trip right away.

Drawbacks

While the AmEx Air Miles Platinum Credit Card is ideal for people who travel frequently, it is not the best card for casual credit card users who will not redeem the points.

  • The annual fee is quite high: The American Express Air Miles Canada Platinum Card costs $120 per year. Though the rewards may be worth more than $120 for people who use their card frequently, those who do not concentrate on earning points will not get more than $120 worth of rewards. If you do not earn enough points, this card is not worthwhile.
  • The interest rate is rather steep: The 20.99% interest rate is high for a card with such an expensive annual fee. If you carry a balance from month to month, the interest charges may cancel out any money that you save by redeeming points. Since you need to use the card frequently to earn significant rewards, the danger of excessive interest payments is very real.
  • American Express is not as widely accepted overseas: Most merchants prefer Visa and MasterCard, while some do not accept other cards like Discover or American Express at all. This issue can be especially pronounced with cards like the Air Miles Platinum, which is specifically for travelers.

What Can You Expect From the American Express Air Miles Canada Platinum Card?

American Express has a full range of account management tools. Users can access their accounts via the American Express account management site or the Amex smartphone app. They also have access to 24/7 support via phone or chat.

These tools are vital because cardholders need strict account management practices to ensure that they get the most value out of their points when using the Amex Air Miles Canada Platinum card.

American Express also offers tools, such as Airmiles.ca, for redeeming points. These services for Air Miles cardholders can be useful for redeeming points without having to jump through any hoops with third-party businesses.

Cardholders also have access to trip insurance, rental car insurance, and purchase protection. These make it possible to forego purchasing insurance through a third party.

Who Should Get the American Express Air Miles Canada Platinum Card?

The American Express Air Miles Canada Platinum Credit Card is ideal for Canadians who want to collect points to redeem for flights, hotels, and other travel purchases. This card is for serious miles-collectors who will make points-earning purchases on a daily or weekly basis.

Since this Air Miles Platinum is only worthwhile if you earn more than $120 worth of points per year, those who do not use credit cards frequently will be better off with a cashback card or rewards card without an annual fee.

Also, users need to have money in the bank to pay off purchases because the Air Miles Platinum has a 20.99% APR. If you carry a balance from month to month, interest payments could cancel out the value of your rewards points.

Compare other travel rewards credit cards and learn more here.


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