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Table of Contents

When does the AmEx Platinum travel insurance kick in?

Amex platinum travel insurance benefits and limits, how to make an amex travel insurance claim, what if the card’s insurance benefits are insufficient, the platinum card® from american express travel insurance, recapped.

Travel insurance can provide peace of mind when you’re away from home, especially when you’ve spent significant money on your vacation. Although you can choose to buy a separate travel insurance policy, not everyone wants or needs to do so.

Many travel credit cards offer complimentary insurance for a variety of occurrences. The Platinum Card® from American Express offers travel insurance with a suite of benefits for eligible travelers, including coverage for trip interruption, rental car damage and lost luggage.

Let’s take a look at travel insurance on The Platinum Card® from American Express , its limits and the benefits it provides.

» Learn more: What is travel insurance?

So, does The Platinum Card® from American Express have travel insurance? The short answer to this is yes, but you’ll need to meet specific requirements for it to apply.

To get coverage from your card, you’ll need to use it to pay for your trip in its entirety. This is true whether you’re looking to utilize the trip insurance or the rental car insurance — you must pay for the full cost with The Platinum Card® from American Express .

Be aware of coverage limitations if you’re traveling using points or miles. While it’s possible to receive benefits when using your card to pay the taxes and fees on a reward redemption, coverage may not always apply.

You may still be covered for trip interruption, delay, and cancellation insurance when using points or frequent flyer miles.

However, rental car and baggage insurance only apply when you’ve used your card to pay for the full cost of whatever you’re buying — no points allowed. The exception is if you redeem American Express Membership Rewards to pay for some or all of the booking.

» Learn more: How does credit card travel insurance work?

We’ve included a breakdown of all the insurance benefits and other travel protections provided by The Platinum Card® from American Express .

Trip cancellation protection

The trip cancellation insurance you’ll receive will pay for any nonrefundable losses you incur due to a covered event.

Given the current climate, you may also be wondering: does The Platinum Card® from American Express travel insurance cover COVID? It can, depending on the reason you need to cancel. Covered events include quarantine imposed by a physician or illness for you, your family members or a traveling companion.

Other eligible events include a change in military orders, inclement weather or jury duty.

If you need to cancel your trip, AmEx will provide up to $10,000 per trip and a maximum of $20,000 every 12 months. Terms apply.

» Learn more: The guide to American Express travel insurance

Trip interruption coverage

As with trip cancellation protection, trip interruption insurance will reimburse you for nonrefundable losses by a covered event.

If your trip is interrupted, American Express will cover you for prepaid land, air and sea travel bookings you’ve missed. They’ll also pay for the cost of an economy-class ticket on the most direct route to rejoin your covered trip (or take you home).

The maximum benefit you’ll receive is $10,000 per trip and up to $20,000 every 12 months. Terms apply.

Trip delay insurance

As it sounds, trip delay insurance will reimburse you for expenses incurred when your trip doesn’t go as scheduled. In the case of The Platinum Card® from American Express , coverage kicks in after you’ve been delayed by at least six hours for a covered reason.

Covered purchases may include food, toiletries, lodging, medication and other personal use items. You’ll be reimbursed for up to $500 on a covered trip and can make two claims within a 12-month period. Terms apply.

Rental car insurance

The Platinum Card® from American Express provides secondary rental car insurance . This means it’ll kick in after other claims — like those made to your personal insurance — have been paid. To activate coverage, you’ll need to decline the insurance offered by the rental car company.

AmEx will provide up to $75,000 due to damage or theft of the rental vehicle, but be aware that the policy doesn’t provide liability insurance.

It’ll also give you up to $1,000 per person (max of $2,000) for personal property lost in the incident and up to $5,000 for accidental injury. Finally, you’ll receive up to $300,000 for accidental death or dismemberment, though the rates will vary depending on the severity of your injuries.

This rental car insurance is valid worldwide with a few notable exceptions, including Australia, Italy and New Zealand. Terms apply.

» Learn more: Credit cards that provide travel insurance

Baggage coverage

Cardholders and their families are eligible for baggage insurance provided they’ve paid for the fare using The Platinum Card® from American Express . This benefit is only for lost baggage; delayed luggage is not protected.

Coverage limits vary depending on whether you’ve checked your bag or carried it on:

Checked bags: Up to $2,000 per person.

Carry-on: Up to $3,000 per person.

Note also that checked baggage is only covered when you’re actually traveling with a common carrier. Meanwhile, carry-on luggage is also covered when traveling to and from or waiting at the terminal.

There are also specific limits for high-risk items such as jewelry and electronic equipment. For these items, you’ll receive a maximum of $1,000 per person per trip. Terms apply.

» Learn more: Baggage insurance explained

Premium Global Assist

What else does The Platinum Card® from American Express travel insurance cover? Although this last benefit isn’t technically a type of travel insurance, it’s worth including as it can offer help while you travel.

AmEx’s Premium Global Assist hotline is a 24/7 service that can assist you in various ways, such as helping you get a new passport, finding translation services and even arranging for emergency medical evacuation.

Although using Premium Global Assist is free, the services that you may end up using are not necessarily covered by AmEx.

There are exceptions to this — if you need repatriation of mortal remains, emergency medical evacuation or if a child under 16 is left without care, AmEx will provide aid at no additional cost. Terms apply.

To file a claim, you’ll need to contact your benefit administrator. The phone number and timeframe will vary according to the type of insurance you’re using:

Trip cancellation, interruption or delay insurance: Within 60 days, call 844-933-0648.

Baggage insurance: Within 30 days, call 800-228-6855 or online .

Rental car insurance: Within 30 days, call 800-338-1670 or online .

» Learn more: The guide to AmEx Platinum rental car benefits

If The Platinum Card® from American Express travel insurance doesn’t seem like it’ll be enough for your trip, or if its coverage doesn’t include features that you’d like to have, consider purchasing a separate travel insurance policy before you travel.

Several companies allow you to compare various policies for any vacation and modify inclusions as you shop.

» Learn more: How much is travel insurance?

The travel insurance offered by The Platinum Card® from American Express includes some pretty generous benefits for travelers, especially since it’s complimentary (the $695 annual fee notwithstanding). Terms apply.

If you want to take advantage of this insurance, pay for your trip using your AmEx card and double-check any other stated requirements before heading out to ensure coverage.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024 , including those best for:

Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card

No annual fee: Bank of America® Travel Rewards credit card

Flat-rate travel rewards: Capital One Venture Rewards Credit Card

Bonus travel rewards and high-end perks: Chase Sapphire Reserve®

Luxury perks: The Platinum Card® from American Express

Business travelers: Ink Business Preferred® Credit Card

On a similar note...

Your guide to Amex's travel insurance coverage

Update : Some offers mentioned below are no longer available. View the current offers here .

American Express premium credit cards offer some of the best perks in the credit card space. While lounge access and travel credits are typically the highlights of these cards, some of the lesser-known benefits, such as trip delay reimbursement and trip cancellation and interruption insurance, are becoming hot topics as the coronavirus pandemic continues to impact the travel industry.

Want more credit card news and advice from TPG? Sign up for our daily newsletter!

As a result, many TPG readers have sent in questions about Amex's travel insurance protections. As travel restrictions change, policies and best practices will likely change as well. But this guide will walk you through which Amex credit cards have these benefits, what's currently covered and how you can file a successful claim.

Related: Best credit cards for trip cancellation and interruption insurance

Amex cards offering trip delay, cancellation or interruption insurance

Here is an overview of the Amex cards that offer trip delay reimbursement, trip cancellation/interruption insurance or both:

The information for the Hilton Aspire Amex card and American Express Corporate Platinum Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Related: The best credit cards with travel insurance

What is covered by trip cancellation and interruption insurance?

You can find the full terms and conditions of what is generally covered on your respective card in your Guide to Benefits, which can be found through your online account. I'll use the Delta SkyMiles® Reserve as an example.

Here is a rundown of the "covered losses" provided by Amex's trip cancellation and interruption insurance:

• Accidental bodily injury or loss of life or sickness of either the eligible traveler, traveling companion or a family member of the eligible traveler or traveling companion
• Inclement weather, which prevents a reasonable and prudent person from traveling or continuing on a covered trip
• The eligible traveler or his or her spouse's change in military orders
• Terrorist action or hijacking
• Call to jury duty or subpoena by the courts, either of which cannot be postponed or waived
• The eligible traveler or traveling companion's dwelling made uninhabitable
• Quarantine imposed by a physician for health reasons

Related: Book carefully if you have multiple Amex cards that offer travel protections

Amex also provides an extensive list of things that are not covered by trip cancellation/interruption insurance:

• Pre-existing conditions
• The eligible traveler's suicide, attempted suicide or intentionally self-inflicted injury
• A declared or undeclared war
• Mental or emotional disorders, unless hospitalized
• The eligible traveler's participation in a sporting activity for which he or she receives a salary or prize money
• The eligible traveler's being intoxicated at the time of an accident. Intoxication is defined by the laws of the jurisdiction where such accident occurs
• The eligible traveler being under the influence of any narcotic or other controlled substance at the time of an accident, unless the narcotic or other controlled substance is taken and used as prescribed by a Physician
• The eligible traveler's commission or attempted commission of any illegal or criminal act, including but not limited to any felony
• The eligible traveler parachuting from an aircraft
• The eligible traveler engaging or participating in a motorized vehicular race or speed contest
• Dental treatment except as a result of accidental bodily injury to sound, natural teeth
• Any non-emergency treatment or surgery, routine physical examinations
• Hearing aids, eyeglasses or contact lenses
• One-way travel that does not have a return destination
• A counterfeit scheduled airline or train ticket; or a scheduled airline or train ticket which is charged to a fraudulently issued or fraudulently used eligible card.
• Any occurrence while the eligible traveler is incarcerated
• Loss due to intentional acts by the eligible traveler
• Financial insolvency of a travel agency, tour operator or travel supplier
• Any expenses that are not authorized and reimbursable by the eligible traveler's employer if the eligible traveler makes the purchases with a commercial card

If you do find yourself canceling or cutting a covered trip short, here are the basic guidelines provided by Amex on what types of expenses are covered for trip cancellation/interruption:

"If a Covered Loss causes an Eligible Traveler's Trip Interruption, we will reimburse you for the nonrefundable amount paid to a Travel Supplier with your Eligible Card for the following: 1. The forfeited, non-refundable, pre-paid land, air and sea transportation arrangements that were missed; and 2. Additional transportation expenses that the Eligible Traveler incurs less any available refunds, not to exceed the cost of an economy-class air ticket by the most direct route for the Eligible Traveler to rejoin his or her places of origin.

If a Covered Loss causes an Eligible Traveler to temporarily postpone transportation by Common Carrier for a Covered Trip and a new departure date is set, we will reimburse you for the following: 1. The additional expenses incurred to purchase tickets for the new departure (not to exceed the difference between the original fare and the economy fare for the rescheduled Covered Trip by the most direct route); and 2. The unused, non-refundable land, air, and sea arrangements paid to a Travel Supplier with your Eligible Card."

What is covered by trip delay insurance?

Trip delay coverage provides reimbursement for reasonable additional expenses incurred when your trip is delayed due to a covered hazard for more than six hours.

Coverage is limited to $500 per trip and cardmembers are only eligible for two claims each 12 consecutive month period.

Amex outlines what is not covered, which includes the following:

• Covered losses that are made public or known to the eligible traveler prior to the departure for the covered trip
• An eligible traveler's expenses paid prior to the covered trip

Filing a claim

When you have a delay or trip cancellation/interruption that you think qualifies for coverage, you can file a claim by calling Amex at 1-844-933-0648 within 60 days of the covered loss.

Trip delay reimbursement requires the following documentation:

• Proof of loss – You must furnish written proof of loss to Amex within 180 days after the date of your loss
• Receipts - Acceptable documentation includes the following:
• A statement from the common carrier that the covered trip was delayed
• Charge receipt
• Copies of common carrier ticket(s)
• Receipts for travel expenses

Trip cancellation/interruption insurance requires slightly different documentation.

• Proof of loss – You must furnish written proof of loss to Amex within 180 days after the date of your loss. Acceptable documentation includes:
• Court subpoenas, orders to report for active duty, physician orders, etc.
• Copies of your common carrier tickets and travel supplier receipt
• Your eligible card billing statement showing the charges for the covered trip
• Copy of travel supplier's cancelation policy

After Amex receives notice of your claim, instructions will be sent on how to send the proof. Typically, you have up to 180 days to file a claim after a delay or cancellation.

Proof of flight delay or cancellation

One of the documents required to file for trip delay reimbursement is a verification form that outlines the reason for the delay or cancellation by the carrier. You can typically get this at the airport when the delay or cancellation is announced, but keep in mind that it may require a supervisor. Each U.S. major airline also has a process for requesting this information after the fact.

Here is an overview of the process that major U.S. airlines require for you to receive a delay or cancellation verification form:

Amex cards that offer car rental insurance

Unfortunately, no American Express credit cards offer primary car rental coverage, although most offer secondary coverage. You can see the entire list of cards that offer secondary car rental protection on the American Express website . However, all American Express credit cards offer an optional "Premium Car Rental Protection policy" that can be added to rentals made using the card for a small fee.

Read our guide on when to use American Express' Premium Car Rental Protection for more details on this coverage option.

You can add Premium Car Rental Protection to any American Express card . TPG has a guide of the best American Express cards , but here are some of the best cards in terms of the return you could receive when renting a car. Note, the estimated return rate for these cards is based on TPG's latest valuations:

• Hilton Honors American Express Aspire Card: $450 annual fee (see rates and fees); 4.2% return on car rentals booked directly from car rental companies; no foreign transaction fees (see rates and fees)
• The Blue Business® Plus Credit Card from American Express: $0 annual fee (see rates and fees); 4% return on general spending on the first $50,000 in purchases per calendar year and 1x thereafter; 2.7% foreign transaction fee (see rates and fees)
• The Amex EveryDay® Preferred Credit Card from American Express: $95 annual fee; 3% return on general spending in billing cycles where you make 30+ purchases; 2.7% foreign transaction fee

The information for the Amex EveryDay Preferred card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Amex cards that offer baggage insurance

If you're a frequent traveler, you've likely run into this situation at some point (it's the worst). Over the years, airlines have been working on improving the baggage system by introducing live bag tracking. Regardless, it's still a smart idea to have some protections in place, like baggage insurance.

Related: Everything you need to know about Amex's baggage insurance plan

This is why you need to pay attention to the benefits each of your travel rewards cards offers. Nearly all of Amex's premium rewards cards offer baggage insurance. You can check out the full list of cards and details on American Express's website.

The types of losses it covers: You're covered for losses resulting from damaged, stolen or lost baggage, including both carry-on and checked bags.

When you're covered: To be eligible for coverage, you have to travel on a common carrier, which Amex defines as any air, land or water vehicle (other than a personal or rental vehicle) that is licensed to carry passengers for hire and available to the public. Your rental car, as well as taxis and ride-share services such as Uber and Lyft, would be excluded from this protection.

To receive coverage, you also need to pay for the entire fare with an eligible American Express card or by using Membership Rewards points to book tickets through Amex Travel . Trips booked with miles from other sources — even the cobranded Delta SkyMiles cards from Amex — are excluded. Your trip also isn't covered if you used a combination of miles and dollars unless the miles came from a Membership Rewards transfer. This is a welcome change. A few years ago, a TPG staffer found out the hard way that Amex's policy didn't cover frequent flyer mile awards.

Who's covered: This policy covers both primary and additional cardholders, as well as cardmembers' spouses or domestic partners and any dependent children under 23 years old. In addition, travelers must be permanent residents of one of the 50 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

How much it covers: Most American Express credit cards will cover replacement costs for checked bags and their contents up to $500 per person, although so-called "high-risk items" are only covered for a maximum of $250. These items include jewelry, sporting equipment, photographic or electronic equipment, computers and audio/visual equipment. Carry-on bags are covered for up to $1,250, which is good to know since your belongings could be stolen from the overhead bins.

You'll enjoy additional coverage if you use The Platinum Card from American Express, The Business Platinum Card from American Express, the Platinum Card from American Express Exclusively for Mercedes-Benz and Morgan Stanley-branded Platinum Card (but not the Delta SkyMiles® Platinum American Express Card).

The information for the Amex Platinum Mercedes-Benz and Morgan Stanley Platinum card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Amex cards that offer medical assistance

One of the lesser known benefits of some of Amex's most premium cards is its Premium Global Assistance. This benefit can quite literally be a lifesaver if you or an immediate family member run into any unexpected issues or accident on your trip. For example, this service can help you arrange emergency medical referrals.

All Amex cards have access to Amex's Global Assist Hotline, but the Premium Global Assist Hotline and higher level of coverage are reserved exclusively for the Amex's premium cards:

• The Platinum Card from American Express
• The Business Platinum Card from American Express
• American Express Corporate Platinum Card
• Hilton Honors Aspire Card from American Express
• Delta SkyMiles® Reserve American Express Card
• Delta SkyMiles® Reserve Business American Express Card
• Marriott Bonvoy Brilliant® American Express® Card
• American Express Centurion Card
• American Express Business Centurion Card

The information for the Amex Centurion and Amex Business Centurion cards has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Bottom line

Having a card with trip insurance can save you hundreds of dollars when unexpected hiccups happen in your travel plans. Still, it can be confusing to know what is covered and the right documentation you need to file a claim.

Nothing is worse than getting through an entire claims process only to be denied or have to start over because you don't have the required documentation for the insurance provider. Before you start filing a claim, make sure you have the documents listed above. Keep in mind that a provider may ask for additional documentation related to the incident, so you may have to collect receipts and other forms to help your case.

If you're starting to travel again, it's also a good idea to consider booking refundable travel . Some airlines and hotels even waive cancelation fees and/or change fees for certain fares, which can make last-minute adjustments in the case of emergencies.

Additional reporting by Stella Shon and Madison Blancaflor.

For rates and fees of the Amex Platinum card, please click here. For rates and fees of the Amex Gold card, please click here. For rates and fees of the Amex Business Gold card, please click here. For rates and fees of the Amex Green card, please click here. For rates and fees of the Hilton Aspire card, please click here. For rates and fees of the Amex Blue Business Plus card, click here. For rates and fees of the Marriott Bonvoy Brilliant card, click here. For rates and fees of the Delta SkyMiles Reserve card, please click here. For rates and fees of the Delta SkyMiles Reserve Business card, please click here. For rates and fees of the Delta SkyMiles Platinum card, please click here. For rates and fees of the Amex Business Platinum card, click here.

About Barry Choi

Barry Choi is a Toronto-based personal finance and travel expert who frequently makes media appearances. His blog Money We Have is one of Canada’s most trusted sources when it comes to money and travel. You can find him on Twitter: @barrychoi

any idea if “covered reason” includes covid related events?

No, COVID would not be a covered reason. Covered reasons are outlined in the insurance policy handbook

I called Amex and baggage delay is not covered unless you purchase additional travel insurance with Amex. Luckily I did. They didn’t say what exactly I can or can’t get reimbursed. They just said up to $500 is covered for me and $500 is covered for my son.

The American Express Platinum Canada Card does cover baggage delay

https://www.americanexpress.com/ca/en/charge-cards/the-platinum-card/

“Baggage Delay Insurance17† You can receive up to $1,000 in coverage (aggregate maximum with Flight Delay Insurance), for reasonable and necessary emergency purchases for essential clothing and sundry items purchased within four days of arrival at your destination when your checked-in baggage on your outbound trip is delayed for 6 hours or more when you fully charge your airline ticket to your Platinum Card.”

Do you know if the insurance will cover trip interruption if I paid for my flights with avios points but paid the taxes and hotel bills with the amex card?

Also, will my card insurance cover my family if I am not on return flight with them?

Hi Viviene,

No, the insurance won’t apply. If you used Avion points, you’d have to use an Avion credit card to pay the balance for your insurance to apply.

Any supplementary card holders would be covered, but if your family is not supplementary users, and you’re not travelling with them, the insurance wouldn’t apply.

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• Credit cards

The unique benefits of the Platinum Card ® from American Express

Welcome offer

The Platinum Card® is the Best Premium Travel Card in Canada.

With this welcome offer, you can earn up to 100,000 Membership Rewards points :

• 70,000 Welcome Bonus points after you charge $10,000 in net purchases to your Card in your first 3 months of Cardmembership
• 30,000 points when you make a purchase between 14 and 17 months of Cardmembership

With this card, you get:

• 2 points per dollar for dining purchases
• 2 points per dollar on travel purchases
• 1 point per dollar on all other purchases

You can use your Membership Rewards points in many ways:

• Transfer points to airline partners: Aeroplan, Avios (British Airways / Qatar Airways ), Flying Blue, Delta Skymiles, etc.
• Transfer points to hotel programs ( Hilton Honors, Marriott Bonvoy)
• Redeem points for statement credits to offset any travel purchase charged to your Card ( 1,000 points = $10 )
• Redeem points for statement credits towards other purchases ( 1,000 points = $10 )

With this card, you also have advantages for your travels:

$200 Annual Travel Credit

• $200 Annual Dining Credit
• $100 NEXUS Card Statement Credit
• Complimentary and unlimited access for you and one additional traveller to over 1,200 airport lounges worldwide
• Hilton Honors Gold Elite status (complimentary breakfast at all Hilton hotels)
• Marriott Bonvoy Gold Elite status
• Access to the Fine Hotels & Resorts program

Last but not least, the Platinum Card® is distinguished by the numerous insurance coverages offered: theft and damage for rental cars, travel accident of $500,000 Emergency medical expenses (out-of-province or out-of-country), lost or stolen baggage, flight delays and misdirected baggage, hotel or motel burglary, Purchase Protection, Purchase Security.

Like all American Express Canada Cards, there is no minimum income requirement .

The Platinum Card ® clearly stands out from the competition because of the various benefits it provides for frequent travelers. I will try to assign a value to each of them.

Access to airport lounges

It’s something I personally love (and I know many of the Facebook group members do too!).

The benefit

The Platinum Card ® provides free unlimited access to the cardholder and a travel companion at most of the lounges listed below.

When we look at just the Priority Pass membership included for the Platinum Card ® holder, we are talking about a benefit that has a value of US$429 / year .

And American Express has a special agreement with Priority Pass to add a travel companion to this pass (which would have cost US$ 32 / visit otherwise)!

That’s not taking into account access to all the other types of lounge around the world:

Here are the conditions of access for each type of lounge:

The value of airport lounge access

Being reasonable in my estimates, thanks to this advantage of access to airport lounges offered by the Platinum Card ® , I estimate saving $40 per person each time we pass through an airport (for drinks/meals).

That’s not counting the rest you get versus waiting in some terminals (especially with young children)!

For a couple who pass through the airport five times a year, that saves $400 a year .

Hotel status Benefit

American Express has partnered with various hotel programs to gain access to higher statuses by being a Platinum Card ® holder.

Of all the hotel programs, I consider only the status offered by the Platinum Card ® on the Hilton Honors side to be of value.

It is the only one to offer breakfast in most of the group’s hotels .

Unfortunately, Marriott Bonvoy’s Elite Gold status has lost its lustre, with the program now reserving the benefit of complimentary breakfasts for Elite Platinum members.

I would have liked to see American Express offer Platinum Elite status, or at least status nights to reach that level of status faster.

The value of hotel statuses

The value of this Platinum Card ® benefit is relative. It will be based on the number of stays made in these different hotels each year. If your preference is Hilton Group hotels, getting free breakfast for each of your nights can be a great benefit!

At an average rate of $20 per breakfast per person for ten nights stay per year, this could mean savings of $400 a year.

But if you stay at Marriott hotels instead, the value of this benefit is lessened.

It’s up to you to decide how much value you place on this benefit, depending on your travels! I estimate it at around $200 a year .

If there’s one easy-to-quantify benefit of the Platinum Card ® it’s the $200 annual travel credit.

When you apply for the Platinum Card ® , you’ll receive a $200 annual travel credit to be used via American Express Travel services. This may be:

• A car rental
• A travel package

Then, each year, when you renew your Platinum Card ® membership fee, you get this credit again. In this article, I explain how the Annual Travel Credit works .

The value of the travel credit

Having the opportunity to travel several times a year, it’s easy for me to use the $200 annual Platinum Card ® credit. So it’s worth $200, for trips I would have bought anyway!

$200 annual dining credit

Another easy-to-quantify benefit of the Platinum Card ® is the $200 annual dining credit.

When you sign up for the Platinum Card ® , you get a $200 annual dining credit.

This credit is applied to your restaurant bill based on a list of American Express restaurants .

Then, every year on January 1, you get this credit again.

The value of the annual dining credit

Having the opportunity to dine at good restaurants in Montreal, I can easily use the Platinum Card ® $200 annual dining credit. So it has a value of $200 for a meal in a good restaurant, which I would have done anyway!

Instead of using my ® Card" href="https://milesopedia.com/en/go/amex-cobalt-card/" rel="noindex">American Express Cobalt ® Card (which earns me 5 points per dollar at all restaurants ), I’ll use my ® " href="https://milesopedia.com/en/go/amex-platinum-card/" rel="noindex">American Express Platinum Card ® .

$100 NEXUS credit

The Platinum Card ® comes with another benefit for travellers: the $100 NEXUS Card Statement Credit . Simply charge your NEXUS membership (every 4 years) onto your Platinum Card ® to get this credit.

The Membership Rewards program

In addition to the travel benefits, it is important to note the excellent earning rate of Membership Rewards points through the Platinum Card ® :

• 2 Membership Rewards points per dollar spent in restaurants and bars
• 2 points for every $1 in Card purchases on eligible travel
• 1 Membership Rewards point per dollar per dollar of other purchases

Here is an example of earning rate:

The Platinum Card ® – like the American Express Cobalt ® Card – allows you to use your Membership Rewards points in a multitude of ways, “without being caught” with Aeroplan points:

• via transfers to other airline or hotel loyalty programs
• via the fixed-point travel programme for flights
• via account credit for travel purchases
• via account credit for everyday purchases

Bottom Line

For sure, the Platinum Card ® is not for everyone and remains a card for travelers.

However, suppose you have travel plans and can take advantage of its various benefits ($200 annual travel credit, $200 Annual Dining credit, airport lounge access, status, etc.) and Membership Rewards points accumulation categories. In that case, this is THE card to get in anticipation of those trips!

Benefits easily exceed the annual fee (especially in the first year with a welcome bonus).

For me, it remains an essential card alongside my American Express Cobalt ® Card !

This post was not sponsored. The views and opinions expressed in this review are purely my own. American Express is not responsible for maintaining or controlling the accuracy of the information published on this website. For complete and up-to-date product information, click on the Apply Now link. Terms and conditions apply.

All posts by Jean-Maximilien

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• Credit Cards

American Express Platinum Card

Best offer is available via a referral link

Signup bonus:, annual fee:, earning rate:, referral bonus:, perks & benefits:.

The American Express Platinum Card is one of the leading travel rewards credit cards in Canada. With best-in-class travel perks, the ability to earn powerful Membership Rewards points, and the premium allure of a flashy metal finish, the Platinum Card should have a place in every frequent traveller’s wallet.

Despite the $799 annual fee (which is the highest among major Canadian credit cards), the card’s welcome bonus and ongoing benefits might even tempt you to keep it for years to come.

Bonuses & Fees

The Platinum Card is currently offering a welcome bonus of up to 100 ,000 Membership Rewards points when applying through a referral link.

The points are earned as follows:

• 70,000 MR points upon spending $10,000 in the first three months
• 30,000 MR points  upon making a purchase in months 14–17 as a cardholder

The annual fee of $799 is one of the highest around, although the Platinum Card offers a $200 travel credit once per year, making the “effective” annual fee $599 per year.

There are also referral bonuses as a Platinum cardholder if you refer your friends or family to the card. You’ll earn 10,000 MR points for every referral you make, up to a maximum of 225,000 MR per calendar year.

Earning Rewards

On daily spending, the Platinum Card allows you to earn:

• 2 MR points per dollar spent on travel and dining purchases in Canada
• 1 MR point per dollar spent on all other purchases

The 2x return on dining in Canada is competitive with other travel cards, although keep in mind that the American Express Cobalt Card  offers 5 MR points per dollar spent on the same purchases.

Likewise, the 2x return on travel is good, although the same benefit is offered by the Gold Rewards Card as well.

Lastly, the 1x return on all other purchases isn’t outstanding, but since the card earns the powerful Membership Rewards points , you have plenty of options to redeem them.

Overall, the Platinum Card’s tiered earning rate is quite standard when you look at it as a whole, especially since it matches or can evcen be bettered with other, less costly cards in the Amex portfolio.

Redeeming Rewards

The Membership Rewards program offers outstanding redemption opportunities. This is primarily because it’s a flexible, transferable rewards currency.

You can transfer your MR points at a 1:1 ratio to Aeroplan and  British Airways Executive Club , as well as a host of other global frequent flyer programs (including Cathay Pacific Asia Miles ) at a 1:0.75 ratio. Moreover, you also have the option of converting points to Marriott Bonvoy at a 1:1.2 ratio for booking hotel stays.

Furthermore, you can redeem MR points directly for flights through the Amex Fixed Points Travel reward chart, although these are limited to round-trip flights departing from Canada.

Lastly, you have the option of redeeming MR points directly against travel purchases at a rate of 1 cent per point (cpp), although this is typically not recommended, as the value pales in comparison to what you could get by booking flights through Aeroplan, Avios, or even the Fixed Points Travel chart.

Perks & Benefits

What really sets the Platinum Card apart, though, and what is meant to justify its hefty $799 annual fee, is the outstanding travel benefits. 

Chief among these is the c omplimentary membership in Priority Pass , which grants you (and one guest) access to more than 600 Priority Pass airport lounges all over the world for free. Most major airports have a Priority Pass lounge, meaning that you’ll rarely be without a relaxing space before your flight to grab a drink or a quick meal, away from the crowds at the gate.

As a Platinum cardholder, you’ll automatically be bestowed with Marriott Gold Elite status and Hilton Gold status . These fast-tracked membership levels come with their own series of valuable benefits when staying at each chain.

Another outstanding benefit is access to American Express’s Fine Hotels & Resorts program , which allows you to book special rates at select luxury hotels around the world. These rates include perks such as suite upgrades, daily breakfast for two, and benefits unique to each property (examples include a private airport transfer or a spa & dining credit). The FHR program often pops up with third-night-free or fourth-night-free offers as well, meaning that there’s plenty of good deals to be had.

Among many other bells and whistles, the Platinum Card also offers priority security lane access  at Toronto Pearson Airport ,  upgrades and discounts on car rentals  with Hertz and Avis, and of course the aforementioned $200 annual travel credit that can be used towards any flight, hotel, car rental, or vacation booking made with Amex’s Platinum Travel Service.

A new benefit introduced to the card in 2023 is the annual $200 dining credit, which can be used at some of Canada’s top restaurants. You’ll need to make a purchase of $200 or more at an eligible restaurant with your Platinum Card.

Lastly, the Platinum Concierge is worth a brief mention. They’re a “global concierge” team that’s able to help you out with any and all requests you may have, wherever you are. In the past, they’ve helped me out with everything from restaurant bookings to last-minute flower orders.

They aren’t miracle workers, so don’t expect them to be able to snag a spot for you at the hottest restaurant in town for tomorrow evening, but they will  proactively put you on the waitlist or look to confirm a spot for you on some future date. Personally, I do find it incredibly useful to have a capable, service-oriented Platinum Concierge just a call away.

Insurance Coverage

As a premium travel credit card, you can be sure that the Platinum Card’s insurance coverage is top-drawer as well. Some examples of its strong coverage include:

• Emergency medical insurance: Up to $5 million of coverage for the first 15 days of your out-of-province trip, for travellers aged 65 and under.
• Lost baggage insurance for lost or stolen baggage, up to $1,000 of coverage total
• Trip cancellation / trip interruption insurance: For Trip Cancellation, up to $2,500 of coverage per insured person, with a maximum of $5,000 for all insured persons, and for Trip Interruption, up to $2,500 of coverage per insured person, with a maximum of $6,000 for all insured persons on the same covered trip.
• Baggage delay insurance, up to $1,000 (aggregate total with Flight Delay insurance), for items purchased within four days when your baggage is delayed – this is different from lost and stolen baggage insurance, which doesn’t cover delays.
• Auto rental collision/loss damage insurance: Comprehensive coverage for up to 48 consecutive days for cars with an MSRP of up to $85,000, which can help you save on the insurance fees that the car rental company would otherwise charge.

I was recently in a situation where the airline had mishandled my bags and left them in a connecting city, and the card I had booked the ticket with came with coverage for lost and stolen baggage but not  delayed baggage, leaving me to cover my costs for a few days out-of-pocket. With the Platinum Card, you’ll be able to rest easy knowing that you are covered in the event that your bags go sightseeing on their own for a little while.

Additionally, the card also offers  Purchase Security  and  Extended Warranty Protection,  covering most eligible items you’ve purchased with your card should they be stolen or damaged within 90 days of purchase, as well as an extended one-year warranty period compared to the manufacturer’s warranty.

Historical Offers

The American Express Platinum Card does not have a minimum income requirement to be eligible. You'll earn the best available signup bonus if you apply using a referral link. Consider supporting Prince of Travel by applying for the card via the link below.

33 Comments

About the “2 MR points per dollar spent on travel purchases”… I made two purchases (Sleep and Country Inns)… I got only 1x the points. I did not see any “Canada” limitation as for the dining earn rate. I booked through their web sites. Does the 2x points comes later? Any limitation I am not aware of? I will call the customer service later.

Well, it seems Amex corrected the discrepancies themselves.

But now, I find that they charged 1.42 USD CAD Exchange Rate on pruchases I made in the USA. Look at the mean rate of Oct 19-21, even the min max, and it never went over 1.395…

Are they supposed to charge market rate+ 2.5%

Was a platinum cardholder in 2018 and just reapplied this fall. I was hoping to slip through and get the bonus offer, but no deal. they denied it as I previously was a primary card holder. I’m also not eligible for the disney+ offer that was recently given to other platinum members because it’s targeted to people who have had the card for one year (according to the agent I spoke with). Bummer, but thought it might be helpful for anyone considering re-applying with their eyes on the bonus.

I am just curious if there’s flight delay/ cancellation on Flair airline (assuming there’s only one flight per day leaving to my destination), would that mean the travel delay insurance will pretty much automatically kick in and cover me up to $1,000?

The historical offers chart is great and tends to show that is the worse possible time to get this card (6k in 3 mths not 6 mths, less MR rewards). Take it or leave it for now and wait for a better offer (MR pts versus spending effort).

Also the 20k MR adder is after a 12 mths period means we pay twice the card fees to get them ? the cobalt seems a better deal today

I have both the Amex Platinum and the Amex Platinum Business and am trying to decide which to keep. What do you recommend, and why?

I just received my card and I am confused about the point bonus. I sweat that when I applied 10 days ago it was 110k point but now I am seeing that the current offer is 80k Can someone confirm?

Bonus will be the same as when you applied. So if offer was 110k, you’ll get 110k.

I’d like to know if PoT has ever used the International Airline Program benefit of Platinum card?

https://www.americanexpress.com/ca/en/benefits/the-platinum-card/international-airline-program.html

Discounts available on the base fare for qualifying International First, Business, and Premium Economy Class tickets at participating airlines when you book with Platinum Travel or online at American Express Travel and pay in full with your American Express Card. Discounts available to Cardmember and up to seven additional passengers when travelling together on the same itinerary. Please note, when booking online at americanexpress.ca/travel, the discounts are limited to five additional passengers.

It would be nice to read about this particular bit from PoT.

Does the refundable hotel trick no longer work for Amex platinum? I think I got my $200 credit clawed back

Is there a limit on the 3 MR points per dollar spent on dining in Canada? I beleive on the Cobalt the 5X rate is capped at $30,000? I spend upwards of $300,000 a year on business dining expenses and therefore like the higher dining rate on this card. If so I will apply through your referal link soon.

Hello Ricky,

I’m in the process of getting the ITIN and have just got the Hilton Honours card. I’m wondering if applying for Amex Canadian cards such as Platinum, Gold, and Cobalt would be considered taking up space for the Chase 5/24 rule.

Only US personal cards count for 5/24.

For the hotel loyalty programs, say MB, with Gold Status, does that mean you only need 25 additional nights to reach Platinum? Can you combine with the MB Amex’s 15 qualifying nights?

Nope, you just get the status, not the qualifying nights. To reach Platinum, you’d still need 50 nights.

How long will the Marriott Gold Elite status, Hilton Gold status, and Radisson Gold status be for, As long as the platinum card is active?

Correct. If the Platinum Card is cancelled, the status should last until February of the following year (though there are some anecdotes of the Hilton Gold status in particular being “sticky” for quite a few years after cancellation).

Long time Gold holder and thinking of applying for Platinum but not keeping it beyond year 2. Does this impact the MR assuming the new card gets linked to the existing account? Any risk of losing the MR? No plans of churning.

Does AMEX enforce the no rewards bonus if you had the card previously thing? Is there a way to find out before paying the fee? It’s so sketchy how they bury that and say they will approve it anyway.

It’s unclear if it’s enforced. They’ll approve it anyway because you’re always allowed to hold the card again, but you aren’t “supposed” to get the bonus again. For what it’s worth, a few recent repeat applicants for the Platinum Card did get the bonus.

I have an Amex gold, if I apply to the Amex plat with your link will it upgrade my current card and will I still be eligible for the rewards?

It would be in addition to your current card rather than replacing your current card. Yes, you’d be eligible.

The Prince of Travel article states the cardholder and a guest have lounge access with the Platinum card. The Amex website (under footnotes) does not mention a guest. Does anyone know which is accurate?

Apparently, only Priority Pass Lounge: Footnote 7 says, “At any visit to a Priority Pass lounge that admits guests, you may bring in one (1) guest for no charge. ” https://www.americanexpress.com/ca/en/benefits/the-platinum-card/lounges.html

Does is cover auto collision/ damages insurance?

I had a Platinum personal card from 1999 to 2016. If I apply now will I be eligible for the MR bonuses? If not, would my wife, who had a supplimental Gold card in the past associated with my Platinum card, get the MR bonuses if she applied now?

Your wife would definitely be eligible for all bonuses if she’s never been a primary cardholder before.

As for yourself, with a 5-year gap plus a strong history as a loyal cardholder, I’d say your chances are good. Worst case you won’t get the bonus, but in your situation I wouldn’t be worried about a repeat application hurting your relationship with Amex.

Does anyone know what benefits are available to additional added card holders? Would an additional card holder also benefit from getting Marriott Elite Gold status for example?

My amex PP up for renewal this month May 2021. I hope they will work with me here on the renewal considering my circumstances.

I don’t see any mention of the Shangri-La Jade status on Amex Platinum website. They state the other three brands.

They’ve just phased it out as of March 31! Good catch – edited.

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American Express Platinum Card ®

Flytrippers award won.

Summary of Flytrippers' review

Why get this card.

• Good welcome bonus of ≈ $801
• Unlimited access to airport lounges (for 2 people)
• Gold Elite Status at Marriott and Hilton hotels
• Plenty of luxury travel benefits
• The flexibility of hybrid rewards
• Excellent earn rate on travel
• Exceptional travel insurance coverage

It’s really the best card for frequent travelers or luxury travelers!

WHO SHOULD GET THIS CARD

• Those who travel a lot and want unlimited lounge access
• Those who enjoy luxury travel
• Those who can reach a minimum spend of $10,000 in 3 months
• Go to our editorial card review page
• Free 30-page guide on the card
• Keep scrolling here for all the details
• Apply now via Amex secure link
• See all the best credit cards in Canada

Card details

Welcome bonus structure (2 separate bonuses) (INCREASED OFFER)

70,000 points Bonus after spending $10,000 (in a maximum of 3 months) *30,000 points Bonus after making a purchase between 14 and 17 months of Cardmembership (not included in our Flytrippers Valuation)

70,000 points Total with the main part of the bonus *100,000 points Total with the entire bonus

Earn on the minimum spending requirement

10,000   points Minimum earn on the minimum spending requirement of $10,000 (at base earn rate of 1 pt/$)

Total rewards by unlocking the welcome bonus

80,000 points Main part of the welcome bonus + earn on the minimum spending requirement to unlock it *110,000 points Entire welcome bonus + earn on the minimum spending requirement to unlock it

‣ Apply for The Platinum Card from American Express

Value of the welcome bonus offer (at our Flytrippers Valuation of  ≈ 1.5¢/pt )

≈ $1050 Welcome bonus (70,000 pts) ≈ $150 Earn on the required spending (10,000 pts) $200 Travel credit that can be cashed out (fixed value) ≈ $100 Dining credit of $200 for 2024 (conservative value) ≈ $100 Dining credit of $200 for 2025 (conservative value) –$799 Card fee (deducted from Flytrippers Valuation)

≈ $801  Total net value by unlocking the welcome bonus alone

‣ Learn more our Flytrippers Valuation of welcome bonuses

Effective return rate

≈ 8.0% Return on the minimum spending requirement (≈ $801  on $ 10,000  in 3 months)

‣Learn more about effective return rates (coming soon)

Rewards acquisition summary

$1600  Rewards you get for  $799

Rewards from welcome bonus

You will have 80,000 Amex MR points after unlocking the Welcome Bonus AND a separate $200 annual travel credit .

The points give you either:

• ≈ $1200 in rewards at the Flytrippers Valuation + $200
• $800 in rewards at the simpler minimum fixed value + $200

Concrete examples of redemptions

Here are some of the actual redemptions you can get with these points:

14 one-way short-distance reward flights such as Toronto-New York or Toronto-Washington

8.5 one-way medium-distance reward flights such as Toronto-Miami or Toronto-Nashville

7 one-way longer distance reward flights such as Toronto-Costa Rica or Toronto-Mexico

1.5 one-way business class reward flight such as Vancouver-Japan or Toronto-Switzerland

11 one-way short-distance reward flights in several regions of the world

17 completely free nights in beautiful hotels in specific destinations like Bali

$1400 discount on specific flights that are very expensive in cash

$800 as a simple travel credit that can be applied to any travel expense

‣ Learn more about the best uses of Amex points

Earn rate (at Flytrippers Valuation)

2 points per $ ( ≈ 3% ) on travel, dining, and food delivery apps 1 point per $ ( ≈ 1.5% ) everywhere else

‣Learn more about credit card earn rates (coming soon)

Earning with additional cards

Fee for additional cards: $250 with the travel benefits like lounge access / $0 without the travel benefits (first 2 cards, then $50) Quantity allowed: 9 Minimum age: 13 years old

‣Learn more about additional cards (coming soon)

American Express Lounge Collection You get unlimited access to over 1,400 airport lounges around the world, for you and 1 guest. All Priority Pass lounges, Plaza Premium lounges, Centurion Lounges, and a few others.

‣ Learn more about the American Express Lounge Collection

$200 annual travel credit The credit can be applied to any booking made with Amex Travel (flights, hotels, cars) or can even be cashed out with a pro tip .

‣Learn more about the Amex Platinum annual travel credit (coming soon)

$200 annual dining credit The dining credit gives you $200 to use at a list of the best restaurants in Canada. Credit covers tips and taxes too, but must be used in 1 transaction. You get 1 credit of $200 per calendar year, including in 2023.

‣Learn more about the Amex Platinum annual dining credit (coming soon)

$100 NEXUS credit A credit will appear if you charge a NEXUS fee to your card — and you should really have NEXUS if you don’t already.

‣Learn more about the Amex NEXUS credit (coming soon)

Hotel elite status benefits You get Gold Elite status with Marriott Bonvoy (8000+ hotels) and Hilton Honors (6000+ hotels).

‣ Learn more about the Marriott Elite status benefits (Hilton coming soon)

Car rental elite status benefits You get elite status with Hertz and Avis.

‣Learn more about the Amex Platinum car rental status benefits (coming soon)

The Fine Hotels + Resorts program Amazing benefits at very luxurious and expensive hotels, exclusively for Platinum Cardmembers. The average value of the benefits is $750 per stay.

‣Learn more about the Fine Hotels + Resorts program (coming soon)

The Hotel Collection program Benefits at top luxury hotels, such as a US$100 credit to use at the hotel and a free room upgrade.

‣Learn more about The Hotel Collection program (coming soon)

24/7 concierge service You have access to a concierge service that can make restaurant reservations, organize deliveries for flowers or other things, and complete various research tasks for you.

‣Learn more about the Amex Platinum concierge service (coming soon)

Amex Offers program Access to discounts, credits, and special offers throughout the year. This card comes with better offers than all others, valued at over $200 depending on your buying habits.

‣ Learn more about the Amex Offers program

American Express Experiences program Access to exclusive virtual and in-person experiences and pre-sale tickets to lots of events.

‣Learn more about the American Express Experiences program (coming soon)

Exclusive Platinum events Similar, but with many additional events that are exclusive to Platinum Cardmembers. I love going to the free Amex Platinum lounge on the beach during Art Basel in Miami every year.

Metal card weighing 18 grams The luxurious and heavy card is internationally recognized as a status symbol, if you care about those kinds of things.

‣Learn more about the Amex Platinum design (coming soon)

Insurance included

Medical travel insurance 15 days (64 years and under) Flight delay insurance ($1,000, 4h minimum) Rental car insurance Baggage & personal effects insurance Trip cancellation insurance Trip interruption insurance Travel accident insurance Hotel burglary insurance Purchase insurance Extended warranty

‣Learn more about the American Express Platinum Card ® ‘s insurance coverage (coming soon)

Insurance not included

Mobile device insurance

‣Learn more about the different types of insurance coverage (coming soon)

Redemptions American Express points can be used for specific flights to maximize their value (via transfers to partner programs or via the Amex flight chart) or for hotel nights (via transfers to partner programs). But they can also be used as a simple travel credit (which can be applied to any travel expense).

‣ Learn more about the American Express rewards program (coming soon)

Pricing Amex points are hybrid rewards: They can be used as fixed-value rewards (fixed value of 1¢) or variable-value rewards (value depending on how you use them; our Flytrippers Valuation is ≈ 1.5¢).

‣ Learn more about American Express points (coming soon)

Expiry Amex points never expire as long as you have the card. And even if you no longer have the card, you can easily extend the expiration indefinitely.

‣ Learn more about American Express points expiry (coming soon)

Pooling If you have travel companions, it’s possible to pool Amex points via transfer partners.

‣ Learn more about pooling American Express points (coming soon)

Transfers American Express points can be transferred to multiple partner programs and this often provides the best value.

‣ Learn more about American Express point transfers (coming soon)

Other redemption options American Express points can be used for rewards other than travel but this should be avoided.

‣ Learn more about why you should always use your rewards for travel (coming soon)

Rewards program logistics You can use your points directly on the American Express website or app.

‣ Learn more about how to get started with American Express rewards (coming soon)

Rewards program summary Rewards: American Express points Type: Hybrid rewards Subtype (fixed value): “Eraser” rewards Subtype (variable value): “Standard” or “Dynamic” Rewards (depending on the transfer partner) Variety: Bank rewards  Flytrippers Valuation: ≈ 1.5¢ per point Minimum value: 1¢ per point Maximum value: Unlimited Transferable: Yes (8 partners)

‣ Learn more about rewards programs basics (coming soon)

Card eligibility Minimum personal/household income: $0 Age: Majority in your province Estimated credit score: Good or Excellent Credit bureau: TransUnion

‣ Learn more about credit card eligibility requirements (coming soon)

Welcome bonus eligibility You must not have had the American Express Platinum Card ® before.

‣ Learn more about credit card welcome bonus eligibility rules (coming soon)

Offer end date Offers subject to change at any time

‣ Subscribe to Flytrippers’ free travel rewards newsletter to get all card updates

Card details Issuer: American Express Network: American Express Card Type: Card with no pre-set spending limit  Product Type: Personal card

‣Learn more about credit card types (coming soon)

Fees and rates Card fee: $799/year Fee for additional card (with benefits): $250 Fee for additional card (without benefits): $0 (first 2 cards, then $50) FX fee: 2.5% Purchases annual interest rate: N/A Funds advances annual interest rate: N/A Balance transfer fee: N/A

‣ Learn more about why Flytrippers recommends ignoring fees and rates (coming soon)

• Unlock special experiences with the Platinum Card ®
• Earn up to 100,000 Membership Rewards ® points – that’s up to $1,000 towards a weekend away
• New Platinum® Cardmembers, earn 70,000 Welcome Bonus points after you charge $10,000 in net purchases to your Card in your first 3 months of Cardmembership
• Plus, earn 30,000 points when you make a purchase between 14 and 17 months of Cardmembership
• Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada, 2 points for every $1 in Card purchases on eligible travel, and 1 point for every $1 in all other Card purchases
• Access a $200 Annual Travel Credit through American Express Travel Online or Platinum ® Card Travel Service
• Enjoy a $200 Annual Dining Credit at some of Canada’s best restaurants
• Unlock $200 or more in additional value with Member extras. You can earn statement credits for qualifying purchases with participating brands
• Take full advantage of The American Express Global Lounge Collection TM  which unlocks access to over 1300 airport lounges worldwide. This includes The Centurion ® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience
• Enjoy flexible ways to use your points such as statement credits for any eligible purchase charged to your Card, new travel purchases booked on American Express Travel Online through the Flexible Points Travel Program, and eligible flights through the Fixed Points Travel Program
• Transfer points 1:1 to several frequent flyer and other loyalty programs
• Enjoy complimentary benefits that offer an average value of $750 CAD at over 1,300 extraordinary properties worldwide when you book Fine Hotels + Resorts
• Platinum Cardmembers can enjoy access to special events and unique opportunities
• Enjoy premium benefits at the Toronto Pearson Airport
• You will also have access to many leading hotel and car rental companies’ loyalty programs. Our partners include Marriott International, Hilton Hotels and Resorts, Hertz and Avis
• Interest applies in accordance with your Cardmember Agreement, Information Box, and Disclosure statement if the total New Balance is not paid by the Payment Due Date each month. All payments must be received by the Payment Due Date shown on the monthly statement
• American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.

Start earning rewards today

And make sure to download our free checklist for when you get a new card—it includes very important mistakes to avoid (it will open in a separate tab, or you can click here ).

via Amex secure application

*Beta version of card page. Sign up to get updated guide soon.*

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All offers described on the Flytrippers website are subject to the financial institutions’ latest terms and conditions, which can be found on their official website. No efforts are spared to ensure this page is up to date but offers from financial institutions change quickly. It is your responsibility to ensure the accuracy of these offers on their website. Flytrippers will not accept any responsibility for the accuracy of the offers or the result of your actions.

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American Express Travel Insurance Coverage Review – Is It Worth It?

Christine Krzyszton

Senior Finance Contributor

306 Published Articles

Countries Visited: 98 U.S. States Visited: 45

Keri Stooksbury

Editor-in-Chief

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Director of Operations & Compliance

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Why Purchase Travel Insurance

Travel insurance and the covid-19 virus, package policy options, custom select coverage options, pricing by age, cancellations and changes, to other travel insurance companies, to credit card travel insurance, travelinsurance.com, insuremytrip, squaremouth, final thoughts.

We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

We frequently discuss the travel insurance coverages that are offered complimentary on most credit cards . We do so because these benefits, especially the long list of travel insurance coverages on premium cards, can save you money, offer peace of mind during your travels, and provide help if something goes wrong.

These complimentary coverages are useful and can offer more than adequate coverage for most trips. However, if you’re investing in an expensive trip or 1 that involves multiple travel providers, purchasing a comprehensive travel insurance policy is a prudent move. You’d also want a travel insurance policy if your trip has a complicated itinerary or if you’re anxious about the possibility of having to cancel any portion of the journey.

Additionally, it’s imperative that if you’re worried about having medical coverage while traveling, you’d want to purchase a travel insurance policy that provides medical coverage.

Fortunately, travel insurance is widely available, reasonably affordable, and simple to secure. There are several reputable travel insurance companies , highly-rated by financial rating organizations such as AM Best , that offer nearly endless options from which to choose.

American Express Travel Insurance , underwritten by AMEX Assurance Company, is one of those highly-respected, highly-rated, established companies offering comprehensive travel insurance solutions.

Join us while we check out the types of policies the company offers, any limitations of which to be aware, and additional options for protecting your next trip appropriately.

Travel insurance can help you avoid losing the investment you made when booking your trip, reimburse you for covered expenses should your trip be disrupted due to a covered event, or pay for emergency medical services.

Policies are designed to cover disruption due to the reasons listed in the policy you purchased. These reasons consist of events that are unforeseen and unexpected.

Here are a few situations where travel insurance could cover your loss:

• You or a covered family member become ill and you must cancel your trip. Trip insurance can cover prepaid non-reimbursable expenses.
• You are injured in an accident during your trip and need to be evacuated to a hospital by air ambulance.
• You become ill during your trip and must return home versus continuing on your journey.
• Your flight is delayed or canceled and you must stay at a hotel and incur expenses for lodging and incidentals.

Whether you should purchase travel insurance or not is a personal decision. If losing your trip investment or having to pay for extra expenses if the trip is disrupted makes you uncomfortable or would present a financial burden, then you should purchase a comprehensive travel insurance policy.

If worrying about having to cancel your trip or having it disrupted during your journey is an issue, purchasing a travel insurance policy will definitely deliver some peace of mind, both prior to and during your trip.

For more tips on buying travel insurance in general, you’ll find valuable information in our guide to buying the best travel insurance .

Bottom Line: The longer, more expensive, and more complicated your trip, the greater the need for a comprehensive travel insurance policy.

When you purchase travel insurance and your trip is canceled, you expect to have coverage. However, not all cancellations are covered — only those specifically listed in your policy.

Once COVID-19 was declared a pandemic, it became a known event and therefore is not covered on travel insurance policies. While it’s reasonable to want to cancel your trip due to fear of COVID-19, canceling a trip due to the fear of any illness is not a covered reason on any travel insurance policy.

There is also no coverage for canceling a trip due to a U.S. State Department announcement warning of COVID-19 in a particular area.

In order to have coverage for voluntary trip cancellations, you would need to purchase “Cancel for Any Reason Insurance” (CFAR) . CFAR is not a stand-alone insurance policy — it is an add-on coverage you select when you purchase a travel insurance policy or coverage you may be able to add to a travel insurance policy after purchase, within an initially specified timeframe.

CFAR insurance is expensive, does not cover the entire cost of your trip, and not all companies sell the coverage, including American Express Travel Insurance.

Additionally, there is a small window of time when you are able to purchase the coverage, including during your initial purchase or up to 10 to 21 days after the purchase, depending on the company.

While American Express Travel Insurance does not cover trip cancellation due to fear of contracting COVID-19, there may be coverage in certain circumstances. For example, if you become sick with the virus and have to cancel your trip as a result, you may have coverage under trip cancellation insurance.

Additionally, if you become ill with the virus during your travels, you may have coverage under Travel Medical Protection. Terms and conditions apply.

Bottom Line: Travel insurance does not cover canceled trips due to fear of getting COVID-19 or a government declaration that a specific destination is unsafe. Cancel for Any Reason Insurance must be purchased to cover these voluntary cancellations. 

American Express Travel Insurance Options

American Express offers you 2 options when it comes to purchasing travel insurance. You can select a package policy that includes several types of coverages in 1 plan or you can build your own travel insurance plan and select just the coverages that are important to you.

Coverage is worldwide except for where it would violate U.S. trade or economic sanctions. All permanent U.S. residents are eligible to purchase travel insurance with American Express.

American Express Travel Insurance offers 4 levels of travel insurance package policy plans — a Basic Plan, Silver Plan, Gold Plan, and Platinum Plan. Each has its own levels of coverage and associated premium cost.

Let’s take a look at the package policy offerings and pricing. We chose a week-long trip for a 40-year old that cost $3,000. Prices ranged from $59 to $208 to cover the entire trip.

With package policies, you can expect to find the following coverages. The limits of coverage differ based on the policy plan you select.

• Trip Cancellation/Interruption — Receive reimbursement for prepaid non-refundable expenses due to cancellation for covered reasons and additional costs if your trip is disrupted, also for covered reasons.
• Global Medical Protection — Receive worldwide emergency medical and dental coverage for the first 60 days of your trip and access to emergency evacuation/repatriation services.
• Travel Accident Protection — Receive coverage for accidental death/dismemberment from the time you leave on your trip until the time you arrive home.
• Global Baggage Protection — Coverage varies from $250 to $2,500 for lost luggage depending on the level selected. Baggage delay coverage starts from 3- to over 24-hour delays, depending on the policy plan selected.
• Global Trip Delay — Receive up to $300 per day, $1,000 per trip, depending on the level of coverage selected. Coverage is valid for delayed/canceled flights or involuntary-denied boarding.
• 24-Hour Travel Assistance — Have global access to planning and emergency assistance before and during your trip.

Bottom Line: American Express Travel Insurance offers 4 different levels of package policies, each comprising a collection of coverages most travelers look for. The plan you select and the level of coverage limits chosen determine the amount of the premium cost. 

If some of the coverages in the package plan are not important to you, you can select only the coverage(s) you want and pay accordingly. Perhaps, for example, you have a need for just medical coverage while traveling abroad. You have the option to select just that coverage.

This example shows the levels of coverage available and the associated premium costs. The Gold Plan selected offers up to $100,000 in emergency medical, up to $750 in emergency dental, and up to $100,000 in emergency evacuation/repatriation. The price of this plan would be $32 for the entire trip.

Bottom Line: Having the option to select only the coverages you want allows you to save money by not paying for coverages you don’t need. This is a key benefit of purchasing travel insurance through American Express Travel Insurance. Few travel insurance companies offer the option to purchase stand-alone travel medical coverage. 

Additional Information — American Express Travel Insurance

Like most travel insurance companies, American Express Travel Insurance prices its products within age brackets. The price for coverage is the same for everyone in that specific age bracket.

Based on dozens of quotes obtained, pricing brackets were determined to be as follows:

• Age 17 to 40
• Age 41 to 65
• Age 66 to 70
• Age 70 to 80
• Age 81 or over

Knowing this upfront can help you determine if you’re at the beginning of the highest price bracket or the end. For example, if you are 40 years old, you’re going to pay less than a 41-year-old in the next pricing bracket but the same as a 17-year-old.

If you’re a senior and want to learn more about purchasing travel insurance in your 60s, 70s, and beyond , the tips in our article will help guide you in the right direction.

Bottom Line: Knowing a travel insurance company’s age pricing brackets can help you determine which company offers you the best value for your money.

Here is some information you should know about cancellations and changes to an American Express Travel Insurance policy.

• You can change or modify your policy prior to your trip.
• You can request a full refund within 14 days after receiving your policy documents. Some restrictions vary by state.
• If you have purchased American Express Travel Insurance and your trip was canceled due to COVID-19, you may qualify for a policy refund . Contact AMEX Assurance Company for details at [email protected]. Terms apply.
• Once your trip is completed, you cannot request a refund.

Hot Tip: Due to the overall decrease in travel, many travel insurance companies now allow you to cancel your travel insurance and receive a full refund or extend your policy without extra charges. 

How Does American Express Travel Insurance Compare

When comparing other package policies to American Express Travel Insurance, the company’s premiums came up higher overall for this specific trip and traveler (1-week trip, 40-year-old, total value $3,000).

The first policy above with Assistance USA for $77, for example, has coverages similar to the Silver Amex plan which has a premium of $133. The coverage on the $102 Assistance USA plan above compares more with the Amex Gold plan at $157.

Prices will vary considerably based on the types of coverages selected, age, and limits of each coverage. We used policy comparison websites and found similar but not identical policies. With so many different coverage options, it’s difficult to compare apples to apples.

This is a very limited comparison — your results will be different based on your specific details. The most important factors to consider are that you’re purchasing from a highly-rated company, the coverages are a match for your needs, and the premium is one with which you’re comfortable paying.

The travel insurance coverages that comes complimentary on your credit card can serve to provide coverage for some trips. For example, if you book a domestic round-trip flight, a hotel, and a rental car, you may have sufficient coverages on your credit card to cover that trip.

Credit card travel insurance coverage, however, is not a replacement for a comprehensive travel insurance policy , for these reasons:

• Most credit card travel insurance coverage is secondary and in excess of other coverage you might have. You’ll normally be working with 2 (or more) entities to get your claim resolved.
• Credit card travel insurance is administered by a third party, not by the issuing financial institution, thus making the claims process potentially redundant and complicated.
• You generally won’t find medical coverage on a credit card. The Platinum Card ® from American Express and the Chase Sapphire Reserve ® offer emergency medical evacuation and there is a small medical benefit on the Chase Sapphire Reserve card.
• Coverage limits are set on credit card travel insurance. Travel insurance policies can offer higher limit options.
• Credit card travel insurances have requirements such as purchasing the trip with the associated credit card.
• Additional coverages can be added to travel insurance policies such as CFAR insurance, a preexisting conditions waiver, and other benefits not available with credit cards.

Bottom Line: While the travel insurance coverages that come with credit cards may be sufficient to cover a simple trip where there is no large investment at stake, these coverages are by no means a replacement for a comprehensive travel insurance policy. 

The Value of Travel Insurance Comparison Sites

Because travel insurance is widely available and quite competitive, you may find drastic differences in the price you’ll pay between companies and policy offerings. Selecting a company is not difficult as there are dozens of reputable, highly financially-rated, established companies, but comparing policies is essential for getting the best value for your money.

One way to easily compare pricing and coverages is to utilize a travel insurance comparison site to narrow down the appropriate options for your situation.

Here are some of the most popular, easy-to-use comparison sites that only feature highly financially-rated travel insurance companies.

• Coverage is available instantly
• The comparison tool is easy to use
• The company has a “best price guarantee”
• Calls are handled by licensed agents
• The website contains educational information for understanding travel insurance coverages and policies
• Features nearly 2 dozen companies
• Compare 90 different policies from over 20 different companies
• Customer service receives high accolades
• Over 86,000 reviews

Bottom Line: Utilizing a travel insurance comparison website can help you quickly narrow your choices to policies that fit your needs and your budget. 

There is no doubt that American Express is a financially-stable, established, and well-respected travel insurance company.

One of the company’s strengths is that it offers the consumer the ability to purchase needed coverages separately , such as medical insurance for an international trip. The premiums for such coverage are also very competitively priced. This could be a huge plus if you are not interested in duplicating credit card travel insurance coverages or in having just secondary or excess coverage.

One downside, especially in today’s environment, is that American Express Travel Insurance does not sell CFAR insurance. If this is important to you, you should attempt to find the coverage elsewhere by using comparison sites.

Another downside that may or may not be important is that American Express Travel Insurance does not sell annual or multi-trip policies. You must purchase a new policy for each individual trip.

Also, like several other travel insurance companies, high-risk adventurous activities may not be covered with American Express Travel Insurance. You might look to a company specializing in insuring these activities such as World Nomads .

If you want to make sure you’re purchasing from an established company and have specific coverages you’re more interested in than others, American Express Travel Insurance is a solid decision . For package travel insurance policies, you might be able to realize modest savings by shopping around, but you won’t go wrong with the company selection of choosing American Express Travel Insurance.

All information and content provided by Upgraded Points is intended as general information and for educational purposes only, and should not be interpreted as medical advice or legal advice. For more information, see our  Medical & Legal Disclaimers .

For rates and fees of The Platinum Card ® from American Express, click here .

Frequently Asked Questions

Is american express travel insurance worth it.

Yes, overall. American Express Travel Insurance is backed by AMEX Assurance Company which is highly-rated, established, and reputable.

The company offers competitive travel insurance package policies but also allows the traveler to build their own policies with only the coverages they deem necessary. This option can save the traveler money.

If you’re looking for medical coverage for an international trip, for example, purchasing with an established company at a reasonable price makes American Express Travel Insurance a worthy choice.

Do I have to have an American Express credit card to purchase American Express travel insurance?

No, you do not need to be an American Express cardholder to purchase a travel insurance policy from American Express Travel Insurance.

Does travel insurance cover COVID-19?

Travel insurance does not cover canceling your trip due to fear of getting sick. It also does not cover canceling your trip due to a government shutdown due to COVID-19, or a surge in cases in a particular area.

You may have coverage if you become ill due to COVID-19 and need to cancel your trip, depending on the terms of your policy.

You may also have coverage if you become ill due to COVID-19 during your travels.

Is credit card travel insurance any good?

The travel insurance coverages that come with your credit card can be sufficient to cover simple trips. If you’re booking a trip that has a complicated itinerary, involves several travel providers, or is more than a week in length, you might consider a comprehensive travel insurance policy.

In addition, if your trip is an expensive one, even if it’s simple and short, it would be prudent to cover your investment with a travel insurance policy.

Finally, credit cards do not come with medical insurance coverage. If you need this coverage while traveling, you’ll want to purchase a separate policy.

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About Christine Krzyszton

Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.

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Is the Amex Business Platinum card worth it?

Amex business platinum card rewards, amex business platinum card benefits, amex business platinum card fees, rates & limit, how the amex business platinum card compares, is the amex business platinum card right for me, how do i apply for the amex business platinum card, faq: amex business platinum card.

Amex Business Platinum Card Review 2024: Is It Worth It?

• The Business Platinum Card® from American Express offers a chance to earn 5x points on travel and rack up points on everyday business spending too.
• Card members can benefit from more than $1,000 in statement credits every year.
• This card does come with an annual fee of $695 ( see rates and fees ).
• You can carry a balance for some charges with the Pay Over Time feature, but not for all.

At first glance, The Business Platinum Card® from American Express comes with a high admission price — its annual fee is almost $700. However, when you dig into the benefits, you find out that it also comes with more than $1,000 in statement credits annually and ample opportunity for earning valuable points. That’s especially true if you book travel for yourself or your employees regularly.

Find out more about this card to decide if it’s right for you in our Amex Business Platinum card review.

We’ll take a look at:

• How you can maximize rewards with this card
• What types of statement credits you can get
• Whether this is a charge card or credit card
• How to apply for the Amex Business Platinum card
• Excellent welcome offer
• Easy to earn points
• Great travel benefits
• No intro APR offer
• Hefty $695 annual fee
• High spending requirement for welcome offer

The Business Platinum Card® from American Express may be worth it for business owners who travel frequently and can take advantage of its premium travel benefits, such as Amex lounge access worldwide. It also comes with high point earnings on select purchases, which makes it a great option for businesses that spend on more than just travel.

However, this American Express card does come with a substantial annual fee of $695. This makes it less appealing for small businesses that don’t usually spend much on travel. In these cases, you may prefer another business credit card better suited to your organization.

Amex Business Platinum pros and cons

• A generous welcome offer
• 5x points on prepaid flights and hotels booked through American Express Travel
• Comprehensive travel benefits including access to Amex lounges worldwide
• Up to $1,400 in credits, including for airline fees, Dell purchases and more
• A high annual fee of $695
• A more complex rewards system that requires careful management and an understanding of your options
• Requires good to excellent credit

Learn more about the Amex Business Platinum card

Terms apply / Rates & fees

As the flagship business rewards card , the Amex Business Platinum offers an excellent rewards structure, especially if you book regular travel for yourself or your staff. 

Welcome offer

You can earn 120,000 Membership Rewards Points when you spend $15,000 in the first three months of holding this card. 

The value of rewards points depends on how and when you redeem them, but the average is around 1 cent per point. That means this welcome offer has a potential value of around $1,200.

Earn Amex Business Platinum rewards

You can earn valuable rewards points outside of the welcome offer too, including:

• 5x points when you book prepaid flights and hotel stays through American Express Travel
• 1.5x points on certain business expenses, such as electronic goods, construction and hardware expenses, software subscriptions and expenses and shipping
• 1.5x points on any purchase of $5,000 or more
• 1x points on all other purchases

Redeem Amex Business Platinum reward points

You can redeem Amex Platinum Business card rewards in a variety of ways, providing flexibility on how you use these perks. 

Some options include:

• Booking travel.  When you use your rewards to book through American Express Travel, you typically get the most value per point.
• Transferring points. Amex lets you transfer points to hotel and airline rewards programs, including Delta, Marriott Bonvoy and Virgin Atlantic. You need at least 500 points to transfer and must transfer in increments of 250 points.
• Shopping.  You can use your points to purchase gift cards and merchandise.
• Receiving a statement credit. Request a conversion to cash back and get a statement credit using your points.
• Donating to charity. In some cases, you can redeem points for charity donations—a benefit that could help with goodwill for your business. 

In addition to a pretty strong rewards structure, the American Express Business Platinum card offers some great benefits for business card members . 

Travel benefits

Amex is known for its travel cards , and the Amex Business Platinum is no exception.

Some travel benefits you can get with this card include:

• American Express Global Lounge Collection.  Platinum cardholders get access to Amex lounges across the globe, making business travel more enjoyable. 
• Marriott Bonvoy Gold Elite status. You can leverage our card membership status to upgrade to Elite status with this hotel rewards program without meeting stay requirements. That can help you earn free nights and other perks faster. 
• Hilton Honors Gold status.  Not a Marriott Bonvoy member? That’s okay because you get a similar benefit with Hilton’s hotel rewards program. 
• Fine Hotels & Resorts program.  When booking luxury and other hotel stays through American Express Travel, you can get hundreds of dollars in perks and upgrades, making any stay more enjoyable. 
• Travel insurance. By paying for travel expenses with your Amex Platinum Business card, you get automatic Amex travel coverage that helps mitigate losses due to delayed or canceled trips, interruptions during travel, damage to rental cards or lost or delayed baggage.

Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/​benefitsguide for more details. Underwritten by Amex Assurance Company.

Statement credits

The Amex Business Platinum card comes with a bevy of statement perks every year to help your business save money. 

Options include:

• Indeed statement credit. You can get up to $90 back each quarter on purchases you make with Indeed as you work to round out your staff. This credit opportunity is through December 2024.
• Dell statement credit.  Through December 2024, you can earn up to $400 on purchases with Dell in the United States. You can earn up to $200 semi-annually.
• Adobe statement credit.  If you use your Amex Platinum Business card to pay for an auto-renewing Adobe subscription, you can get up to $150 back in statement credits per year.
• Wireless services statement credit. You can get up to $120 back per year when you use your Business Platinum card to pay for services with a U.S.-based wireless phone carrier. 
• Airline fee credit.  You can get up to $200 in credits on airline fees, including baggage fees. You’ll need to choose one airline and spend with that airline to get these perks.
• CLEAR plus credit.  Earn up to $189 back on CLEAR Plus membership annually when you pay with this card.
• Global Entry or TSA PreCheck credit.  Get up to $100 in statement credit every 4.5 years to help cover the cost of either Global Entry or TSA Precheck .

Shopping protections

Using your Amex Business Platinum to make purchases for your company ensures you’re backed by numerous shopping protections.

These protections include:

• Extended warranty. When you use this card to purchase items that have a manufacturer’s warranty of five years or less, you get extended coverage for up to one year. That means if your business laptop, printer, copy machine, or other covered item breaks right after the manufacturer’s warranty is up — as often happens — you’re still covered. 
• Purchase protection. Use your Amex card to purchase items and get peace of mind knowing you can get reimbursed for losses if the item is damaged in an accident or stolen. This coverage is good for up to $10,000 per incident and a total benefit of $50,000 per year.
• Return protection.  If you can’t return your item to a vendor, you may be able to return it directly to Amex and get a refund. 
• Cell phone protection.  Amex coverage will reimburse you for replacement or repair of a damaged cell phone up to $800 total minus a $50 deductible. You can use this benefit up to two times annually as long as you are paying your cell phone bill with your Amex card.

So far, the Amex Business Platinum is stacking up to sound like a great option. But you need to understand the fee structure to know if all those rewards and statement credit opportunities actually end up profiting your business. 

Business Platinum Card from American Express fees

With Amex, huge perks and rewards usually come at a price, and that’s true with this card. The annual fee is $695. However, you can add up to 99 employee cards at no additional fee, and spending on those cards also earns rewards ( see rates and fees ).

Other fees you may pay with this credit card include:

• $39 or 2.99% of any past due balance when you make a late payment, whichever is greater
• $39 if your payment is ever returned

You won’t pay foreign transaction fees if you make purchases outside of the United States.

Business Platinum Card from American Express interest rates

With this card, Amex offers a Pay Over Time feature that lets you carry a balance over time at an APR of 19.49% to 27.49% variable, depending on your creditworthiness. This feature is only available on certain purchases and is limited by a Pay Over Time Limit, which works similarly to a credit limit. 

If you make late payments, you may be assessed a penalty APR of 29.99% variable for 12 billing cycles. The penalty APR applies if you make two or more late payments within 12 months, you have a returned payment or you fail to make a minimum payment at all within an entire statement cycle. 

Business Platinum Card from American Express credit limit

This card doesn’t come with a preset spending limit. The amount you can spend at any one time depends on your credit history and your management of American Express credit card accounts, including this one. As you demonstrate responsible account management, you can typically increase your credit limit . 

Note that the Pay Over Time benefit does come with a limit. This limit might also change as you demonstrate a responsible payment history. You can call Amex to discuss your limits and how much you would like to be able to spend.

While it’s one of the most costly when it comes to an annual fee, the Amex Business Platinum is among the top business rewards cards on the market. It offers plenty of statement credits, rewards opportunities and card member perks, and you may find that you get more benefits from this card than others.

The Business Platinum Card from American Express vs. American Express® Business Gold Card

For businesses that can’t maximize Platinum card perks, an American Express Business Gold Card might be a better option. The annual fee for this card is only $375 ( see rates and fees ), and you earn 4x points on two spending categories you select, 3x points on flights and hotels booked through American Express Travel and 1x points on other purchases. You can also get a welcome offer of 70,000 bonus points when you spend $10,000 in the first three months.

It’s worth noting that you can only earn 4x points in your selected categories on a total of $150,000 in spending annually. After that, spending in those categories earns 1x points. 

While the Business Gold card doesn’t offer quite the same level of perks and statement credits that the Platinum card does, you can still earn $155 in Walmart+ credit and $20 monthly credits for eligible business expenses. 

The Business Gold card also utilizes Pay Over Time features, and the rates and fee structures on this card are the same as they are for the Platinum card. 

Read our full Amex Business Gold card review

The Amex Business Platinum card holds a lot of enticing benefits, but it’s best for businesses that have higher spending budgets. If you’re only spending a few thousand each month, you probably won’t maximize the rewards and perks on this card, making that $695 annual fee a financial albatross.

Explore these alternatives if you’re not convinced the Amex Business Platinum card if the right fit for you.

• Capital One Spark business cards
• Chase business cards

You can learn more about the Amex Business Platinum card and apply online. The application typically only takes a few minutes and requires information such as your full name, Social Security or tax ID number, business name, address and contact information, and some basic information about your business revenue or finances. In some cases, Amex might ask for more information, and you may need to provide documents like tax paperwork or checking account statements.

This card requires good or excellent credit . People with credit scores of 700 or higher have the best chance of being approved for this card, but other factors, such as income and overall credit history, are factors in approval.

What credit score do you need for an American Express Business Platinum Card?

You need good or excellent credit to get approved for this card, and a higher score improves your chances. Look to apply for this card if you have a score of 700 or higher. If your score is lower, you may want to consider other options.

How much does the American Express Business Platinum Card cost each year?

The annual fee on this card is $695. However, if you maximize statement credit and rewards opportunities, you can balance out that cost and end up earning with this card.

Can you carry a balance on Amex Business Platinum?

Yes, you can carry some balances forward using the Pay Over Time feature. You must pay other balances off every statement cycle.

How do you redeem American Express Platinum points?

You can redeem American Express points earned with the Platinum card on travel, as statement credits or for various other purchases, including gift cards. Redeem points for travel via American Express Travel or by transferring the points to a hotel or airline loyalty rewards program that participates with Amex.

What type of business do I need to get an American Express Business Platinum Card?

Amex accepts applications from all types of business owners. You can apply as a sole proprietor even if you are the only employee of your business, for example. Whether you are approved has less to do with your business type and more to do with your credit history, business income and ability to make your statement payments.

What airport lounges do I have access to with my American Express Business Platinum Card?

Card members can access more than 1,400 airport lounges across the globe. That includes Aspire, Escape, Plaza Premium, Delta Sky Club and Priority Pass lounges. Some lounges require you to enroll in a program or be flying a certain airline that day.

Sarah Stasik is well versed in personal finance thanks to her previous role as a Revenue Cycle Manager for a Fortune 500 healthcare company. Using her inside knowledge and expertise, Sarah often covers topics ranging from insurance and the economics of private healthcare to personal finance and small business management.

Over the past 12 years, Sarah has contributed to numerous publications in the personal and small business finance sector, including content on budgeting, bankruptcy, small business accounting, and financial tech. Her writing focuses on making complex or seemingly daunting financial topics more accessible and providing helpful, relevant resources for readers.

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Palladium price today: April 3, 2024

Coryanne Hicks

Farran Powell

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

Published 9:41 a.m. UTC April 3, 2024

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What is the current price of palladium today?

The price of palladium opened at $1,012.50 per ounce, as of 9 a.m. ET. That’s down 0.62% from the previous day’s palladium price per ounce and down 7.92% since the beginning of the year.

The lowest trading price within the last day: $993.40 per ounce. The highest palladium spot price in the last 24 hours: $1,017.86 per ounce.

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Palladium spot price

Palladium price chart.

The chart below shows how the spot price of palladium is trending over the year.

Year to date, palladium is down 7.92%, as of 9 a.m. ET. The 52-week high reached $1,647.85 on Apr. 18, 2023, and the 52-week low dropped to $854.70 on Feb. 13, 2024.

Palladium is currently trading at $1,012.50.

The precious, silvery-colored metal is priced in U.S. dollars. This means that the fluctuations in the value of the U.S. dollar can impact its price.

The price of XPD/USD reflects the value of one ounce of palladium in U.S. dollars, and it is traded like traditional currency pairs. Because these trades occur globally, investors can also track the spot price of palladium in other currencies, such as XPD/EUR for euros and XPD/GBP for British pounds.

Factors that can influence the price of palladium include changes in demand, geopolitical events and tensions in major palladium-producing countries. Of course, investor opinion and speculation can also affect prices.

Analysts speculate that the rise of electric vehicles could send palladium prices in retreat. Palladium’s price slump in 2023 is likely attributable to the decline in demand for traditional catalytic converters, a common usage of palladium.

Precious metals spot prices

Palladium is one of four main precious metals investors can trade via physical bullion , exchange-traded products or futures contracts. Gold , silver and platinum spot prices are also updated 24/7 in various currencies.

What is palladium?

Palladium is one of the most abundant metals, occurring in the Earth’s crust at 0.015 parts per million. The metal named after the asteroid Pallas was first discovered in the early 1800s by English chemist and physicist William Hyde Wollaston.

Canada, Russia, South Africa and the U.S. were the world’s leading producers of palladium in the early 21st century. It’s usually produced as a byproduct when refining copper and nickel ores, but palladium has its own merits.

Palladium is easy to work with and is commonly found in electrical and dental equipment and as a substitute for platinum in jewelry. It can even be beaten into a thin leaf for decoration, but its primary use is in automobile catalytic converters.

Palladium price history

Limited supply and rising demand drove palladium prices up through the late 20th and early 21st centuries. The supply side is very restrictive because two of the world’s leading producers, Russia and South Africa, lack internal investments and have poor infrastructure. As a result, output isn’t consistent.

For the past decade, the palladium spot price has trended between $500 and $1,000 per ounce. The silvery metal was on the tear in 2020 and 2021 and surpassed the price of gold when it traded above $2,000 per ounce.

Palladium’s price peaked at $3,440 in March 2022 as Russia’s invasion of Ukraine constrained supply.

Since its peak, the price of palladium has, for the most part, been on a steady decline. In 2023, palladium spot levels dropped below $1,500 for much of the year. Experts attribute the decline to the rise in electric vehicles, which don’t have catalytic converters.

Palladium vs. gold prices

Currently, palladium trades at $1,012.50 per ounce, as of 9 a.m. ET, compared to gold, which trades at $2,275.09 per ounce. Year to date, palladium prices are down 7.92% and gold prices are up by 10.10%.

Palladium historically has generally been cheaper than gold. But there have been a few instances when palladium has outperformed gold.

In 1999, palladium’s spot price outperformed gold’s, and palladium was above gold for most of 2001.

While gold’s price increased from 2001 through 2011, palladium’s price entered a trough. It only consistently began to climb out of the $400 per ounce threshold in 2011 when it broke levels above $800.

After dipping below $500 per ounce in early 2016, palladium’s spot price continued to climb, breaking above $1,000 by September 2018. At that point, gold’s spot price had fallen to $1,200 per ounce. By May 30, 2019, palladium was trading much higher than gold at $1,378 per ounce versus gold’s $1,290.

When looking at the gold-to-palladium price ratio, gold dipped below palladium from August 2019 to November 2021. Gold spot prices didn’t consistently outperform palladium until December 2022, and palladium prices have been slipping ever since.

Palladium futures

Palladium futures contracts allow you to speculate on the future price of palladium. A futures contract is an agreement between a buyer and a seller to trade a fixed amount of the underlying asset — palladium, in this case — at a specified price on a future date.

Unlike a spot price, which determines how much palladium costs for immediate delivery, futures contracts designate a price to be delivered at a later date.

These contracts can be fulfilled by trading the physical commodity or exchanging cash in place of the underlying asset. They are usually traded through an exchange.

Frequently asked questions (FAQs)

The highest price palladium ever reached was $3,440 in March 2022.

Palladium can be a good investment if demand continues to outpace supply in the future. Given the metal’s primary use is in catalytic converters for combustion engines, the future may not be so bright for palladium with the continual shift to electric vehicles.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Coryanne is an investing and finance writer whose work appears in Forbes Advisor, U.S. News and World Report, Kiplinger, and Business Insider among other publications. She discovered her passion for personal finance as a fully-licensed financial professional at Fidelity Investments before she realized she could reach more people by writing.

Farran Powell is the lead editor of investing at USA TODAY Blueprint. She was previously the assistant managing editor of investing at U.S. News and World Report. Her work has appeared in numerous publications including TheStreet, Mansion Global, CNN, CNN Money, DNAInfo, Yahoo! Finance, MSN Money and the New York Daily News. She holds a BSc from the London School of Economics and an MA from the University of Texas at Austin. You can follow her on Twitter at @farranpowell.