120,000 Membership Rewards points 
$1,574 First-year value The Business Platinum Card from American Express is arguably the leading travel rewards credit card in Canada. It’s got it all: best-in-class travel perks, a high base earn rate in a transferable points currency, and the premium allure of a flashy metal finish.
Despite the steep annual fee, the welcome bonus, annual $200 travel credit, and the ongoing benefits might even tempt you to keep it for years to come.
Bonuses & Fees
The Business Platinum Card from American Express is currently offering up to 120,000 Membership Rewards points as a welcome bonus when applying through a referral link, structured as follows:
- Earn 80,000 MR points upon spending $15,000 in the first three months
- Earn 40,000 MR points upon making a purchase in months 14–17 as a cardholder
(If you’re a small business owner who can spend $75,000+ in a four-month period, please reach out via the contact form for a custom offer.)
The card has an annual fee of $799. You’re able to add additional Business Platinum Cards for $250, or Business Gold Cards for free.
You can also earn 20,000 MR points for every successful referral you make to any eligible card in the Membership Rewards family, up to a maximum of 225,000 MR points per calendar year.
Earning Rewards
In terms of earning points on your everyday spending, the Business Platinum Card offers a straightforward 1.25 MR per dollar spent on all purchases – no need to worry about different rates for each category.
Redeeming Rewards
The Membership Rewards program offers outstanding redemption opportunities as well. 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 and Air France KLM Flying Blue) 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
As with the Platinum Card, the Business Platinum Card also comes with similar travel-related benefits. You can earn instant Gold Elite status with Marriott Bonvoy and Hilton Honors, giving you benefits such as room upgrades, free internet, and late checkout when staying at hotels.
It’s worth deliberating on the lounge access benefits of the card. The Business Platinum Card grants complimentary access to Priority Pass lounges for you and one guest, as well as Plaza Premium lounges and American Express Centurion Lounges for you, your spouse, and two children under the age of 21 or one travelling companion.
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.
The Business Platinum Card also comes with an annual $200 travel credit, which can be used exclusively on the Amex Travel portal.
You’ll have access to the lucrative Amex Offers, which include annual statement credits of $200 for Dell purchases, as well as a $120 annual wireless statement credit ($10 per month), which can be used to offset the cost of internet or mobile phone bills.
Lastly, the Platinum Concierge is worth a brief mention. They’re an extremely professional “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 Business 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 under 65.
- 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 $1,500 of coverage per insured person, with a maximum of $3,000 for all insured persons, and for Trip Interruption, up to $1,500 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.
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.