Just in time for Valentine’s Day, American Express has increased the earn rate for the American Express Platinum Canada card. The new earn rate is 3 American Express Membership Rewards points per $1 spent on dining, 2 points per $1 spent on travel and 1 point per $1 spent on all other purchases. These changes come into effect immediately.
Some people will quickly notice that there has been a devaluation with the other purchases since the previous earn rate was 1.25 MR points per $1 spent. This represents a 20% decrease in your earnings potential, but you need to factor in the changes to the dining and travel categories which saw an increase of 140% and 60% respectively.
I can also confirm that the American Express Platinum card will now be a precision cut and engraved metal card. This new card will be available to new applicants and existing cardholders who are up for renewal. Some of my readers have also confirmed that you can request a new metal card now if you call customer service.
These changes only apply to the personal platinum card. There are no changes to the Amex Business Platinum card.
New earn rates for the Amex Platinum Canada card
|New earn rate||Old earn rate|
|Dining||3 MR points per $1 spent||1.25 MR points per $1 spent|
|Travel||2 MR points per $1 spent||1.25 MR points per $1 spent|
|Other Purchases||1 MR point per $1 spent||1.25 MR points per $1 spent|
One thing I should clarify is that the 3 points per $1 spent on dining apply to true restaurants only. That means grocery stores and food delivery which is sometimes lumped together under one “food” category would actually earn you 1 point per $1 spent as other purchases.
This card is designed for people who prioritize experiences over the earn rate. You’ll notice that cardmembers get access to specially reserved tables and complimentary amenities by booking through the dining program which includes ‘by invitation only’ dining events.
The Fine Hotels & Resorts benefits get you perks such as room upgrades, daily breakfast for two, early check-in, guaranteed late check-out, free Wi-Fi, and a unique property amenity such as spa or food credits. Many of the hotels in the Fine Hotels & Resorts collection also offer additional perks including a third, fourth, or fifth night free or additional credits to be used on the property.
American Express Platinum benefits
As of today, the American Express Platinum card comes with the following:
- $699 annual fee
- 60,000 Sign up bonus (when using a referral link)
- Earn 3 points per $1 spent on dining
- Earn 2 points per $1 spent on travel
- Earn 1 point per $1 spent on all other purchases.
- $200 Annual travel credit
- Unlimited airport lounge access
- Special benefits at Toronto Pearson
- Hotel status upgrades
- Fine Hotels & Resorts benefits
- Exclusive dining experiences with the Global Dining Collection
- Emergency medical, flight delay/cancellation, lost/delayed luggage insurance
The American Express Platinum card still has an annual fee of $699, but you can see that it comes packed with benefits. The higher earn rates for dining and travel really complement the Global Dining Collection and Fine Hotels & Resorts benefits you get with this card. Don’t forget, American Express frequently has special offers that give you incredible value such as the recent promotion where you would get a $300 statement credit when you spend $900 or more on eligible pre-paid hotel stays or car rentals.
I should note that the 60,000 points sign up offer is only available when you use my referral link. You do need to charge $5,000 to your card in the first three months of card membership which is higher than the standard $3,000 spend, but you also get 10,000 additional points compared to the public offer.
Overall, the changes should be viewed as positive. The new earn rate is exciting, but the Amex Platinum card reinforces the fact that it’s already a great card for travel and lifestyle benefits which enables cardmembers to live life to the fullest.