AMEX Platinum Card Canada Review: Is It Worth the $799 Fee?

If you’re considering the American Express Platinum Card in Canada, you’ve probably heard mixed things—some rave about the perks, others balk at the steep $799 annual fee. So, is it worth it?

In this AMEX Platinum Card Canada review, I’ll break down what you actually get, who this card is best for, and why it may (or may not) be the right choice for you.

Let’s get into it.

✅ Who Is the AMEX Platinum Card For?

The AMEX Platinum Card is a premium travel credit card. If you’re someone who:

• Travels frequently for work or leisure

• Values luxury perks like airport lounge access and hotel upgrades

• Wants top-tier insurance coverage

• Doesn’t mind paying upfront for better experiences

… then this card was designed with you in mind.

But if you’re simply looking for rewards on everyday spending, this is not the card for you. You’re better off with something like the AMEX Cobalt or a no-fee cashback card.

✈️ Travel Perks: Why Frequent Flyers Love It

One of the biggest selling points of the AMEX Platinum is unlimited airport lounge access. You get access not just to Maple Leaf Lounges, but also to:

• The Centurion Lounge Network

• Priority Pass Lounges

• Plaza Premium Lounges

This is ideal if you’re traveling with family or spend a lot of time in airports.

Bonus: At Toronto Pearson (YYZ), Platinum cardholders can also use the Priority Security Line, saving you even more time.

💼 Valuable Credits That Offset the Annual Fee

Let’s talk about that infamous $799 annual fee. It’s steep, but you can claw a lot of it back thanks to generous credits:

• $200 Annual Travel Credit

• $200 Annual Dining Credit

• Up to $200 in AMEX Offers (on average)

If you maximize these, that’s $600 in value, bringing your effective fee to just $199—before even considering points or insurance.

And if you time your signup right? You might be able to double-dip the dining credit, getting $400 instead of $200, depending on the renewal cycle.

🌍 Insurance Coverage: Among the Best in Canada

If you’ve ever had a flight delay, a lost bag, or a rental car incident—you know how important travel insurance is.

The AMEX Platinum stands out with:

• Robust travel insurance (including trip cancellation, interruption, and medical)

• Purchase protection and extended warranty

• Rental car collision insurance

• Lost or delayed baggage insurance

It easily beats what’s offered by lower-tier cards and even most competitors in the premium segment.

🏨 Hotel & Car Rental Status Perks

With the AMEX Platinum Canada, you get automatic elite status at multiple hotel chains, including:

• Marriott Bonvoy Gold Elite

• Hilton Honors Gold

• Radisson Rewards Premium

These statuses can mean room upgrades, early check-in, late checkout, and free breakfast.

You also get elite status with car rental companies, which can save time and unlock free upgrades.

💳 It’s Not About the Points—It’s About the Perks

A common misconception is that this is a “points” card. While you do earn Membership Rewards (MR) points, the real value lies in the benefits of simply holding the card.

Sure, the welcome bonus can be massive (e.g., 100,000–120,000 MR points), but ongoing, the rewards earn rate isn’t spectacular. It’s the soft benefits—the lounge access, insurance, travel concierge, and exclusive AMEX offers—that carry this card.

🤔 Is the AMEX Platinum Worth It If You Rarely Travel?

No. Let’s be blunt—if you only travel once a year, you won’t get the full value. The perks are amazing if you use them, but if you don’t, you’re paying a premium for nothing.

That said, some people do a “churn-and-burn” strategy:

• Sign up for the bonus

• Use the dining and travel credits

• Cancel before the second annual fee hits

It’s a valid approach for occasional travelers, especially with bonus points worth up to $2,000 when transferred to airline partners.

📌 My Personal Experience With the AMEX Platinum Canada

I signed up for the AMEX Platinum Canada in the summer before the fee increase from $699 to $799.

Here’s what I got in one fee cycle:

• 2 x $200 Dining Credits (one for each calendar year)

• $200 Travel Credit

• 120,000 MR Points (100K signup + 20K referral from my dad’s Business Platinum)

• Disney+ rebate worth $119.99 (which I gifted to a friend with kids)

All this brought my net cost to just $99, for a year packed with benefits and travel convenience.

More importantly, the travel insurance gave me peace of mind, and the 24/7 Platinum Travel line made trip planning way smoother than I expected. The Hilton and Marriott Gold statuses also got me free breakfasts and some nice room upgrades during family vacations.

Alternatives If AMEX Platinum Isn’t Right For You

💬 Final Verdict: Is the AMEX Platinum Card Canada Worth It?

✅ Yes—if you travel more than 2–3 times per year, especially internationally. The lounge access, hotel status, insurance, and credits add real value.

❌ No—if you stay local, rarely travel, or don’t care for luxury perks. You’re better off with something lower fee or points-focused like the AMEX Cobalt or Scotiabank Gold.

This is a premium card for a premium lifestyle—or at least for people who want to feel like they’re getting a premium experience without constantly spending premium money.

Got questions about AMEX Platinum Canada or want to share your experience? Drop a comment or reach out—I’d love to hear how you’re using your perks!