Amex platinum changes featured

Changes To American Express Platinum Cards (New Benefits + Increased Annual Fees)

To the point Changes to the annual fees and benefits of the American Express Platinum Card® and the Business Platinum Card® from American Express took effect on September 26, 2023.

American Express Platinum Cardmembers® and the Business Platinum Cardmembers® from American Express are affected by these changes, as well as those wishing to apply for one of these high-end credit cards.

Changes to American Express Platinum credit cards

American Express Platinum Card®

Here are the changes for the American Express Platinum Card®:

  • Annual fees increase from $699 to $799, from $175 to $250 for additional cards, and from $50 to $0 for additional Gold cards (up to two and $50 after the first year) with limited benefits.
  • The earning rate is 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)
crédit annuel repas 200 amex platine

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 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.

Sign up at the end of the article to download the complete list of eligible restaurants by province!

*As for the change in accumulation, new cardholders who subscribe on or after August 15, 2023 will see their accumulation change as of September 26, 2023, while those who subscribed before August 15, 2023 will see their accumulation per dollar change as of October 26, 2023.

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

Business Platinum Card® from American Express

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

  • Annual fees increase from $499 to $799, from $199 to $250 for additional cards, and from $50 to $0 for additional Gold cards (limit of 99) with limited benefits.
  • New annual travel credit of up to $200
  • New NEXUS credit of up to $100
  • New Annual Wireless Credit of up to $120
  • New Annual Dell Credit of up to $200 ($100 every six months)
  • New mobile device insurance
credit platine pme dell bell mobile fr

As for the Annual Wireless Credit, this began on October 1, 2023, and offers a $10 statement credit each month on mobile plan payments, up to a maximum of $120. All other benefits such as points accumulation, lounge access and hotel status remain the same, as do all other card features.

Read this article to find out how to use the $120 Annual Mobile Credit.

Bottom Line

These two American Express Cards are Premium Cards. Today, they are the most expensive cards in Canada, with a $799 annual fee.

In exchange, you’ll receive an excellent welcome bonus and numerous benefits, such as unlimited access to airport lounges and a $200 annual travel credit.

Since these are high-end credit cards, you need to take into account the minimum spending required to earn the welcome bonus, i.e. $7,500 in 3 months for the Business Platinum CardMD from American Express and $10,000 in 3 months for the Business Platinum CardMD from American Express.

Get inspired by our tips for unlocking welcome bonuses.

Come to discuss that topic in our Facebook Group!
Marie-Ève Leclerc
Travelling is a way of life for Marie-Ève, who spends almost six months a year abroad. She's always looking for waves to surf, great coffee and the best strategies to travel longer. You'll probably find her in a coworking space with other digital nomads, or by the sea watching the sunsets.

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