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170,000 Membership Rewards points have a value of $1,700 if used against any purchase charged to your card, which is a value of 1 cent per point.
But in our opinion, the value can be much greater by transferring your points to partner loyalty programs such as Aeroplan, The British Airways Club, Flying Blue or Marriott Bonvoy! Milesopedia conservatively values Membership Rewards points at 1.7 cents, bringing the value of this offer to approximately $2,890.
Personally, I use my Membership Rewards points by transferring them to Aeroplan to book flight tickets:
Or I use my Membership Rewards points via the American Express Fixed Points Travel Program for certain North American destinations: the return is 2 cents per point.
American Express adapts the earn rate of the Platinum Card® to its cardholders’ spending habits!
Thus, the Platinum Card® allows you to earn:
Membership Rewards points can be transferred to:
Each year, you can benefit from a $200 annual dining credit.
This credit is automatically applied following a single transaction of $200 CAD or more, including taxes and gratuities, at one of the eligible restaurants.
The benefit is automatically reset on January 1st of each year it is offered.
In addition to travel and dining credits, the Platinum Card® provides access to the Cardmember Extras program.
This gives you a value of $200 or more per year in Statement credits for eligible purchases with participating brands. This is an additional benefit that reduces the actual cost of the annual fee.
A premium card… means a metal card!
The Platinum Card® is one of the only metal cards in Canada, which reinforces the Premium (and distinct) aspect of the Platinum Card® compared to the competition.
And this card is really beautiful, with only your name on the front: all the other information is on the back (although your wallet will weigh a little more)!
Platinum Card® cardholders have access to the American Express Global Lounge Collection: over 1,400 airport lounges in more than 140 countries.
Here are the main lounge networks and their access conditions:
For example, you can enjoy free access to the Air France Lounge or the National Bank Lounge at Montreal-Trudeau International Airport.
American Express has renewed its partnership with Toronto Pearson Airport (YYZ). The Platinum Card® gives you access to exclusive benefits there:
American Express Canada offers a $200 annual credit for travel booked through the American Express Travel website with the Platinum Card®.
This may be:
This credit is renewed each year based on Cardmembership anniversary date.
The Platinum Card® comes with another benefit for travelers: the $100 statement credit for NEXUS program membership. Simply charge your NEXUS membership (every 4 years) to your Platinum Card® to receive this credit.
The Platinum Card® also offers status in several hotel loyalty programs, which entitles you to many benefits:
The Platinum Card® offers benefits with 2 major rental companies:
Platinum Card® cardholders have access to the Fine Hotels + Resorts program, which provides complimentary benefits with an average value of US$550 at over 1,600 premium properties, such as:
The travel insurance on the Platinum Card® is particularly advantageous with very high reimbursement levels, whether for flight delays, baggage delays, assistance abroad, or high-end car rentals…
Here is a summary of insurance coverages (this information is informational. Refer to the brochure provided with your Platinum Card®).
American Express has two charts:
And this is how we will be able to get the most value out of our Membership Rewards points!
Up to 1,000 Membership Rewards points = $20.
Another way to use Membership Rewards points: by applying them to your purchases. The rate is 1,000 Membership Rewards points = $10.
Here are all the transfer partners for the American Express Membership Rewards program:
American Express is currently offering the best offer of the year on the Platinum Card®: up to 170,000 Membership Rewards points, which is up to $1,700 for a weekend getaway. The annual fee is $799.
The welcome bonus is unlocked in three steps:
Here’s what you need to charge to your Card to unlock each tier, along with the base points earned in parallel. The calculation is conservative: it applies 1 point per dollar, whereas your restaurant and travel purchases earn 2.
By charging $45,000 in purchases to your Card in the first year, you accumulate 175,000 points (130,000 bonus and 45,000 base). The third tier adds 40,000 points during the second year (between the 15th and 17th month), for a total of 215,000 points.
To reach these thresholds, charge all your everyday expenses as well as your major purchases (travel, appliances, renovations, etc.) to your Card. Remember that your restaurant and travel purchases count double in points.
You can also use Chexy to pay recurring bills, income taxes, and municipal taxes to help you unlock your welcome bonus.
The value of your 170,000 Membership Rewards points depends on how you use them. Here are three scenarios:
Even at the minimum scenario, the welcome offer largely covers the annual fee. Here is the value for the first year, including annual credits:
Remember:
There is no card offering benefits comparable to those of the Platinum Card®, which justifies the level of the annual fee.
For a frequent traveler, the $799 annual fee is largely offset. Indeed, each year, you recover over $600 in credits ($200 for travel, $200 for certain restaurants, and $200 or more via the Cardmember Extras program), not to mention the NEXUS credit.
In addition to this:
In addition, American Express offers an improved earn rate of 2 Membership Rewards points per dollar on eligible travel and dining purchases. You can compare this card with other options in our ranking of the best American Express credit cards.
Take advantage of this exceptional welcome offer:
Here are frequently asked questions in the milesopedia community about this card.
To maximize your Membership Rewards points accumulation, consult our complete guide to the American Express Membership Rewards program as well as our ranking of the best American Express Membership Rewards credit cards, updated monthly by the Milesopedia team.
Savings this way:
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