American Express has built its reputation on delivering premium perks that set its cards apart, and its American Express Gold Rewards Card and American Express Platinum Card are prime examples. Trying to choose between these two top Amex cards is incredibly difficult.
While the American Express Rewards program and various travel partnerships make the American Express Gold Rewards Card and American Express Platinum Card solid choices for travellers, the Platinum card’s superior benefits give it a noticeable edge to earn it the top spot for Canadians.
The reviews and comparisons below present all the pertinent information so you can decide for yourself which one is the right fit.
Key Takeaways
- The American Express Gold Rewards Card pampers frequent travellers with points and perks.
- The American Express Platinum Card offers a plethora of credits, perks, and exclusive offers.
- The inimitable Amex Platinum provides luxury travellers with more benefits and insurance than the Amex Gold Rewards card.
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American Express Gold Rewards Card vs. American Express Platinum Card overview
If you put every American Express credit card on a ladder from least to most exclusive, the Platinum card would sit one or two rungs above the Gold Rewards card. The further up the ladder you go, the better the rewards, benefits, and insurance – and the higher the annual fees.
| Feature | American Express Gold Rewards Card | American Express Platinum Card |
|---|---|---|
| Type | Credit card | Charge card |
| Annual fee | $250 | $799 |
| Welcome bonus |  $125 GeniusCash + Up to 60,000 bonus points (terms) | Up to 100,000 bonus points (terms) |
| Maximum rewards | Up to 2 points per $1 spent | Up to 2 points per $1 spent |
| Highest earning categories | Gas, groceries, drugstores, and travel | Restaurants and travel |
| Metal card | ✅ | ✅ |
| Insurance types included | 11 | 11 |
| Special feature | $100 annual travel credit | $200 annual travel credit and $200 annual dining credit |
| Best for | Frequent travellers | Luxury travellers |
| Get started | Apply now | Apply now |
That said, the Platinum and Gold Rewards cards still have a lot in common. Both grant access to some of the best benefits, rewards, and insurance coverage available in Canada.
American Express benefits
Although not as well known, American Express benefits are just as exciting and varied as the World Elite Mastercard and Visa Infinite Privilege programs. Both the Amex Gold Rewards and Platinum cards include:
- Access to special dining, rewards, and shopping rebates worth $200 or more through Amex and Member Offers
- Early access to in-demand event tickets, reserved seating, and curated experiences through Amex Front Of The Line, Presale Tickets, and Reserved Tickets
- Exclusive access to curated dining, entertainment, shopping, and wellness benefits and events through American Express Experiences
- Exclusive deals on accommodations and car rentals through American Express Travel Online
Additional perks include 24/7 customer service and the ability to pay your bills and monitor your balance from your smartphone with the 4.7-star Amex Canada app on Google Play.
American Express Membership Rewards
Although their earning rates and categories differ, the Amex Gold Rewards and Platinum cards both earn Amex Membership Rewards points. You can redeem said points for 8 different types of rewards, but your best option is to convert them to Aeroplan points for an average value of 2 cents per point (CPP).
Value of reward in CAD / cost in points = value in cents per point (CPP)
Your next best option is to use the Amex Fixed Points Travel program to trade up to 15,000 points for $300 off select flight routes for 2 CPP. Or, you could always trade 1,000 points for $10 off your credit card balance.
Regardless of how you use it, the Amex Membership Rewards program is one of the most valuable and flexible rewards programs in Canada.
American Express travel insurance
The Amex Gold Rewards and Platinum cards include the same types of travel insurance with different amounts of coverage. You can save up to $30 per day with theft and damage rental car insurance, get up to 15 days of emergency medical coverage per trip, or qualify for repairs or a replacement product up to 1 year after the original manufacturer’s warranty expires.
Unfortunately, the Gold Rewards and Platinum both lack cell phone insurance. Considering that smartphones are a modern-day travel necessity, it’s disappointing that Amex won’t provide protection against accidental damages, theft, and loss.
No income requirements
While a good credit score is a must, you don’t need to prove a minimum annual personal or household income to qualify for an American Express credit card. As long as you have a credit score between 660 and 724, we don’t know of any other bank in Canada with such lenient eligibility requirements.
Now that we’ve gotten your approval worries out of the way, let’s examine the Amex Gold Rewards and Platinum’s individual strengths.
What we love about the American Express Gold Rewards Card
GC: $125
Pros:
- 5 ways to earn rewards
- 1 free additional card
- Higher returns on more purchase categories
- Lower annual fee
- No minimum income requirements
- Premium metal credit card
- Standard credit card repayment options and interest fees
Cons:
- Fewer benefits
- Less insurance coverage
- Lower welcome bonus
The American Express Gold Rewards Card is a metal credit card issued in your choice of rose or yellow gold stainless steel. While it can’t compete with the Platinum card’s benefits, it offers higher returns, making it a great choice for Canadians who want more benefits than your basic Amex without paying a $300+ annual fee.
Higher returns
- 2 points for every $1 spent on gas, groceries, drugstores, and travel
- 1 point for every $1 spent on all other purchases
Booking a hotel stay or car rental on American Express Travel with your American Express Gold Rewards Card adds 1 bonus point to your travel category, producing a maximum return rate of 3%. In other words, you’ll get $3 in rewards for every $100 you spend.
Value of rewards in CAD / money spent in CAD x 100 = return rate in %
The same Amex travel bonus applies to the Platinum card but the Gold Rewards card earns points on more purchase categories. With the latter, you’ll get points on gas, groceries, drugstores, travel, and restaurants, which include bars, takeout, food delivery, and fast food joints.
Decent travel benefits
The Gold Rewards card adds 2 new travel perks to the basic Amex benefits package:
- A $100 USD hotel credit, room upgrades, early check-ins, and late check-outs at 700+ properties in The Hotel Collection
- Complimentary upgrades, advanced loyalty status, and a fee waiver for 1 additional driver with the Hertz Car Rental Benefit
Plus, you’ll get a $100 annual travel credit, a $50 NEXUS credit every 4 years, a complimentary Priority Pass membership, and 4 free visits to any Plaza Premium Lounge. Not counting insurance, that’s over $600 worth of benefits per year for a $250 annual fee.
What we love about the American Express Platinum Card
×2 Award winner 
Pros:
- 3 ways to earn rewards
- 2 free supplementary Gold Rewards cards
- Cheap supplementary Platinum Card fees
- Larger welcome bonus
- More benefits
- More insurance coverage
- No minimum income requirements
- Premium metal credit card
Cons:
- Complicated repayment and interest structure
- Higher annual fee
- Lower returns in fewer purchase categories
The American Express Platinum Card is an iconic perks credit card for a reason; it includes so many benefits that Amex created a dedicated phone line and website to help cardholders explore them all. Although its annual fee is higher (and its rewards lower) than the Gold Rewards card, the Platinum card makes up for it with above-average insurance and VIP treatment.
More benefits
Take your basic Amex benefits, add The Hotel Collection and Hertz Car Rental perks featured on the Gold Rewards card, and then add a $200 annual dining credit, a $200 annual travel credit, and a $100 NEXUS rebate every 4 years – that’s the Platinum card.
And that’s just the beginning. The Platinum also features exclusive perks such as:
- 24/7 complimentary assistance with restaurant reservations, travel plans, and travel emergencies through Platinum Care concierge services
- Access to specially reserved tables at fine dining establishments in the Global Dining Collection, plus curated experiences By Invitation Only
- Automatic Hilton Honors Gold Status and Marriott Bonvoy Gold Elite Status – including preferred pricing and free nights, breakfast, and room upgrades – through Platinum Hotel Status Benefits
- Complimentary in-room Wi-Fi, breakfast for 2, and unique benefits at 1,500+ Fine Hotels + Resorts
- Discounted Premium Economy, Business, and First Class flights through the International Airline Program
- Priority security, parking discounts, and complimentary value services at Toronto Pearson Airport (YYZ), plus premium airport transfers when you book a round-trip Business or First Class flight with a 1+ night’s stay through the Platinum Card Travel Service
- Unlimited access for the primary cardholder and up to 2 guests to the Amex Global Lounge Collection, which includes every location in the Priority Pass and Centurion Lounge networks
In our study on the value of credit card benefits, we tallied the value of insurance, welcome bonuses, automatic payments, and more. The Amex Platinum yielded $2,500 of extra value, but its true worth is probably far more. We didn’t count things like concierge services, member offers, and hotel benefits, which only add more value the more you use them.
More insurance coverage
Compared to the Amex Gold Rewards card, the Amex Platinum carries an extra 30 days of purchase protection; $1,000 of trip cancellation and interruption coverage; and $500 of flight delay, baggage delay, lost/stolen baggage, and hotel burglary insurance.
Although it sounds impressive, it only translates to an additional $40 of credit card insurance value. Extra coverage just isn’t worth very much. If you’re on the fence, we recommend comparing each card’s benefits, rewards, or annual fees – not insurance – to break the tie.
American Express Platinum® Card
| Extended Warranty | 1 year |
| Purchase Protection | 120 days |
| Travel Accident | $500,000 |
| Emergency Medical Term | 15 days |
| Trip Cancellation | $2,500 |
| Trip Interruption | $2,500 |
| Flight Delay | $1,000 |
| Baggage Delay | $1,000 |
| Lost or Stolen Baggage | $1,000 |
| Hotel Burglary | $1,000 |
| Rental Car Theft & Damage | Yes |
Please review your insurance certificate for details, exclusions and limitations of your coverage.
Neither the American Express Gold Rewards nor the American Express Platinum Card provide travel insurance for seniors over the age of 65.
How do the Amex Gold Rewards and Platinum compare?
If you don’t know which credit card is the right one for you, read on for a list of the 8 most important points of comparison.
Best benefits: American Express Platinum Card
Thanks to its superior airport lounge access, annual credits, and hotel perks, the Amex Platinum provides at least $700 more value in credit card benefits than the Gold Rewards card.
If you’re content with free drinks and eats before your flight and some hotel freebies, take the Gold Rewards card. If you want a credit card that can also take you wining and dining at the most exclusive establishments (and you don’t mind paying for the privilege), take the Platinum card.
Best insurance: American Express Platinum Card
Although the Amex Platinum includes $2,000 more coverage than the Gold Rewards card, it adds up to a meager $40 difference in value. We’re almost tempted to call it a tie.
Best rewards: American Express Gold Rewards Card
Although the Amex Gold Rewards and Platinum cards share a maximum return rate of 3% on Amex travel purchases, the former earns points on more types of purchases. Based on $24,000 of annual spending, we estimate the Gold Rewards card’s average return rate to be 2.75% compared to the Platinum’s 2.50%.
Highest acceptance: Tie
Although American Express is becoming more popular in Canada, it remains far less common than Visa or Mastercard – especially for international retailers. Regardless of whether you choose the Gold Rewards or Platinum, we recommend taking a backup credit card when you travel.
Interest fees: American Express Gold Rewards Card
The Amex Gold Rewards card charges standard interest rates: 21.99% for purchases, 21.99% for cash advances, and no balance transfers. It’s much simpler than the Amex Platinum’s charge card setup.
Whenever you use the Amex Platinum, you must either pay the balance in full before the 21-day grace period expires or suffer a 30% interest fee. You can elect to carry a Flexible Payment Option Balance for 21.99%, but if you miss 2 separate payments within 12 months, the rate will increase to 25.99%. Miss 3 payments and it’ll shoot up to 28.99%.
Unless you’re experienced in juggling debt, we recommend sticking with a regular credit card like the American Express Gold Rewards Card.
Lowest annual fee: American Express Gold Rewards Card
The Amex Gold Rewards card is indisputably cheaper, charging $250 per year compared to the Platinum’s $799 yearly fee.
That said, Platinum cardholders have the option to add 2 types of supplementary credit cards, one of which is free:
| Amex Platinum | Amex Gold | |
|---|---|---|
| Annual fee | $250 | $0* |
| Amex Experiences, Offers, Front of the Line, and Presale Tickets benefits | ✅ | ✅ |
| Hertz car rental benefits | ✅ | ✅ |
| Avis car rental benefits | ✅ | ❌ |
| Fine Hotels + Resorts benefits | ✅ | ❌ |
| Global Dining Collection benefits | ✅ | ❌ |
| Platinum Concierge | ✅ | ❌ |
| Platinum Card Travel benefits | ✅ | ❌ |
| The American Express Global Lounge Collection benefits | ✅ | ❌ |
| Toronto Pearson International Airport benefits | ✅ | ❌ |
* Applies to the first 2 supplementary Gold Rewards cards on the account. Subsequent cards cost $50 each per year.
Considering the value of the Platinum’s benefits, $250 per year per supplementary card is an absolute steal.
Lowest eligibility requirements: Tie
As long as you have a credit score between 660 and 724, you have a chance to qualify for either the Amex Gold Rewards or Platinum. While the decision ultimately rests with Amex, at least on paper, the two are on par.
The winner: American Express Platinum Card
After an extremely close race, the American Express Platinum Card’s superb benefits carried it to victory. It may earn fewer rewards than the American Express Gold Rewards Card, but the Platinum more than makes up for it with luxury perks – especially if you need to add a supplementary card.
If you’re not sold on the Platinum Card’s high annual fee, we recommend giving the Gold Rewards Card a try for a year and then upgrading. You can find out whether a premium travel credit card is right for you and grab two welcome bonuses at the same time!
Top non-Amex alternative
The biggest weakness of American Express credit cards is their limited acceptance. You can’t use them everywhere in Canada, from small businesses to large chains like Costco and Loblaws.
For a premium travel credit card with global acceptance, check out the TD Aeroplan Visa Infinite Privilege Credit Card. It’s the number one official Aeroplan credit card in Canada and the Visa Infinite Privilege program has nearly enough perks to rival the Platinum’s offerings, including airport lounge access, hotel perks, and priority security lanes.
FAQ
Is Platinum better than the Gold Amex?
If you love to eat, shop, and travel in luxury, the American Express Platinum Card is more than worth its high annual fee. It provides thousands of dollars more in benefits than the American Express Gold Rewards Card.
Is it a good idea to upgrade the Gold Amex to Platinum?
If you’re a frequent flyer and a regular at high-end restaurants and hotels, you’ll probably get a lot of value out of the American Express Platinum Card.
Does Amex Gold get you into airport lounges?
The American Express Gold Rewards Card includes 4 free visits to the Plaza Premium Lounge network and a complimentary Priority Pass membership, which grants entry to 1,400+ airport lounges worldwide for $35 USD per visit.
Does Amex Gold have a limit?
The American Express Gold Rewards Card does not have a limit on the amount of spending that qualifies for its 3X points earning rate.
Is the Amex Platinum card worth keeping?
Most of the American Express Platinum Card’s value lies in its annual travel and dining credits, hotel perks, and luxury travel offers. It’s not worth keeping for airport lounge access because it doesn’t grant priority access at most locations.
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