Changes announced for American Express Platinum Cards (apply BEFORE September 26, 2023)

Here are the changes announced for the Platinum Card^®:

• Annual fees will increase from $699 to $799, and from $175 to $250 for additional cards, as well as from $50 to $0 for additional Gold cards (up to two, and $50 after the first year) with limited benefits.
• Accumulation will be reduced from 3 points to 2 points per dollar spent on dining. The other categories remain the same.*
• The addition of a $200 annual dining credit (based on a list of American Express restaurants)

As for the dining credit, it is important to read the conditions as written by American Express in order to know how to obtain it:

Effective September 26, 2023, Basic Platinum Cardmembers will have access to the $200 CAD Annual Dining Credit. Enrolled Cardmembers will be eligible to receive a statement credit of $200 CAD following a single transaction of $200 CAD or more (including taxes and gratuity) at one of the eligible restaurants listed on our website at go.amex/diningcreditrestaurants at the time of the transaction. Credit is available only once per redemption period. Participating restaurants are subject to change. Spend must be in one transaction. A one-time enrolment is required for the $200 Annual Dining Credit through Amex Offers and Cardmembers will automatically be enrolled for future redemption periods and do not need to re-enroll. Each calendar year is a separate redemption period. In 2023, however, the redemption period will be from September 26, 2023 until December 31, 2023.
Benefit resets automatically each year on January 1 for each year this benefit is available. American Express reserves the right to modify, replace or terminate this benefit at its discretion.
Any credit not redeemed during the applicable redemption period will not roll over to the following redemption period and will expire. Your Card must be charged prior to the end of each redemption period (December 31) to be eligible for the credit within that redemption period.
This benefit is available to Basic Platinum Cardmembers only.

*With regard to the change in accumulation, new cardholders applying on or after August 15, 2023 will see their accumulation change from September 26, 2023while those who subscribed before August 15, 2023 will see their accumulation per dollar change from October 26, 2023..

All other benefits, such as lounge access and hotel status, remain the same, as do all the other card features.

Here are the changes announced for the Business Platinum Card^® from American Express:

• Annual fees will increase from $499 to $799, and from $199 to $250 for additional cards, as well as from $50 to $0 for additional Gold cards (limit of 99) with limited benefits.
• New annual travel credit of up to $200
• New annual NEXUS credit of up to $100
• New annual mobile credit of up to $120
• New mobile device insurance

Mobile credit will begin on October 1, 2023, offering $10 in credit each month on mobile plan payments, up to a maximum of $120 per 12-month period. All other benefits such as points accumulation, lounge access and hotel status remain the same, as do all other card features.

In light of these changes, the best scenario we recommend is therefore to apply for the Business Platinum Card^® from American Express before September 26, 2023, this way you will benefit :

• old annual fee of $499 for the first year (savings of $300 on future annual fees)
• the addition of a $200 travel credit
• the addition of the $100 NEXUS credit
• the addition of a $120 mobile credit
• and a steady accumulation of 1.25 Membership Rewards points on all your purchases

Never had a business credit card before? Read our guide to the American Express conditions and application process to get one.

The second most advantageous scenario is to apply for the American Express Platinum Card^® before September 26, 2023, in this way you will benefit from:

• the old annual fee of $699 for the first year
• the addition of a $200 dining credit
• 3x points on dining until September 26, 2023
• and other card benefits unchanged