Optimize Credit Cards
Brokerages & Banks
Travel
Shop
Earn Cash Back
Blog
Support
Refer & Earn 25%
American Express Gold Rewards Card® vs American Express Platinum Card®: Which one is better?
American Express Gold Rewards Card®
4.2
American Express Platinum Card®
4.5
Rewards Breakdown
Annual Rewards
$619.03
American Express Membership Rewards
First Year Bonus
$1,260
American Express Membership Rewards
Annual Fee
$250
First Year Value
$1,629.03
$369.03 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$581.26
American Express Membership Rewards
First Year Bonus
$0
American Express Membership Rewards
Annual Fee
$799
First Year Value
-$217.74
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Lost or Stolen Baggage
$500Baggage Delay
$500Car Rental Damage & Theft
yesTravel Accident
$500,000Extended Warranty
Up to 1 yearPurchase Protection
90 daysHotel Burglary Insurance
$500Emergency Out of province Medical
15 daysTrip Cancellation
$1,500 per person, $3,000 combinedTrip Interruption
$1,500 per person, $6,000 combinedFlight Delay
$500
Insurance Included*
Lost or Stolen Baggage
$1,000Baggage Delay
$1,000Car Rental Damage & Theft
YesTravel Accident
$500,000Extended Warranty
1 yearPurchase Protection
120 daysHotel Burglary Insurance
$1000Emergency Out of province Medical
15 daysTrip Cancellation
$2,500Trip Interruption
$2,500Flight Delay
$1,000
Extra Benefits*
American Express® Experiences
Status lift
Hertz Gold Plus Rewards® loyalty programExtra points
Earn 2 points on Amex Travel Online purchases and extra points on American Express offersTravel Credit
$100Nexus Program Rebate
$50 statement credit every 4 yearsComplimentary Hotel Benefits
Hotels booked American Express TravelAirport Lounge - Priority Pass
Pass only. No Complimentary visits!Airport Lounge - Plaza Premium
4 Free complimentary visits
Extra Benefits*
American Express® Experiences
Status lift
Upgrade to Hilton Honors Gold StatusStatus lift
Upgrade to Marriott BonvoyTM Gold Elite statusExtra points
Earn 2 points on Amex Travel Online purchases and extra points on American Express offersTravel Credit
$200Nexus Program Rebate
$100 statement credit every 4 yearsComplimentary Hotel Benefits
Hotels booked American Express TravelTrip and legal Assistance
Concierge Services
Dining Credit
$200 at Select RestaurantsAirport Lounge - American Express Global Lounge
Take full advantage of The American Express Global Lounge Collection™ which unlocks access to over 1,400 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.Priority Travel
At Toronto Pearson Airport get Priority Security lane, Complimentary valet and 15% discount at the Express Park and daily park
Interest Rates*
Purchase:
21.99%1
Cash Advance:
21.99%1
Interest Rates*
Purchase:
21.99% - 30%2
Cash Advance:
21.99% - 30%2
Annual Fee*
$250
Annual Fee*
$799
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Welcome Bonus*
Earn 5,000 Membership Rewards® points for each monthly billing period in which you spend $1,000 in purchases on your Card in the first Year
Welcome Bonus*
New Platinum® Cardmembers, earn 100,000 Welcome Bonus points after you charge $10,000 in net purchases to your Card in your first 3 months of Cardmembership. Plus, earn 40,000 points when you make a purchase between 14 and 17 months of Cardmembership. Offer ends Jan 28, 2025.
Rewards Rate*
- 2x points per $1 spent on gas, groceries and drugstore purchases
- 2x points per $1 spent on travel (eligible flights, hotels, tours and more)
- 1x point per $1 spent on all other eligible purchases
Rewards Rate*
- 2x points per $1 spent on eligible dining & food delivery purchases (restaurant, fast food, coffee shop, food delivery)
- 2x points per $1 spent on eligible travel purchases (flights, hotels, tours and more)
- 1x point per $1 spent for all other purchases
Loyalty Program*
Loyalty Program*
Point Redemption Options*
Most Optimal
Transfer to Airline Partners
2.1¢ / pointFixed Point Travel Program
1.66¢ / pointTransfer to Hotel Partners
1.66¢ / pointStatement Credits (Cash)
1¢ / pointGift Cards
0.765¢ / pointAmazon.ca
0.7¢ / pointMerchandise
0.63¢ / point
Point Redemption Options*
Most Optimal
Transfer to Airline Partners
2.1¢ / pointFixed Point Travel Program
1.66¢ / pointTransfer to Hotel Partners
1.66¢ / pointStatement Credits (Cash)
1¢ / pointGift Cards
0.765¢ / pointAmazon.ca
0.7¢ / pointMerchandise
0.63¢ / point
Is this card worth it?
The American Express® Gold Rewards Card is an excellent choice for travelers seeking an entry-level card that offers a strong balance of generous travel benefits without excessive costs. With a relatively low annual fee, this card provides flexibility and a range of perks that make it stand out among other options. It’s ideal for those who want to maximize their travel rewards without being tied to a specific airline or compromising on the benefits offered.
Is this card worth it?
If you're a frequent traveler, the Platinum card is an excellent choice. It's highly recommended for its extensive travel benefits, including unlimited lounge access for you and a guest at the American Express Lounge collection, making it the best card for lounge access in Canada. The card also offers unique perks not commonly found with other Canadian cards, such as status upgrades at Marriott Bonvoy and Hilton, dining and travel credits, concierge service, airport benefits, Nexus application reimbursement, and more. These benefits can more than offset the annual fee. However, if you don't travel often or are mainly looking for a card that maximizes rewards, this card may not be the best option for you.
Pros
- Flexible Rewards: Enjoy flexible Membership Rewards point conversion with up to 2 points per $1 spent.
- Travel Perks: Includes $100 annual travel credit and 4 free passes to Plaza Premium lounges in Canada.
- Comprehensive Insurance: Comes with 11 types of insurance coverage.
- Multiple Redemption Options: Offers 4 ways to redeem points for maximum value.
Pros
- Offers more perks than any other credit card in Canada, catering to premium users who value extensive benefits.
- Enjoy $400 in annual travel and dining credits, which can offset some of the card's cost.
- Gain unlimited access to over 1,400 airport lounges worldwide, enhancing your travel experience.
- Multiple options for redeeming points for high value, giving you flexibility in how you use your rewards.
- Includes 11 types of insurance coverage, offering comprehensive protection for cardholders.
Cons
- High Annual Fee: The card comes with a $250 annual fee.
- Foreign Transaction Fees: A 2.5% fee applies to foreign transactions.
- Limited Travel Insurance for Seniors: No travel medical insurance coverage for those over 65.
- Lower Acceptance: As an American Express card, it may have lower acceptance compared to Visa or Mastercard.
Cons
- As with other American Express cards, it may have lower acceptance in some locations compared to other networks.
- The high annual fee of $799 may be a barrier for some users, especially those who do not fully utilize the card's benefits.
- Some benefits are limited to specific airports and hotels.
Other Comparisons
Other Comparisons
vs American Express Cobalt® Card
vs TD Aeroplan® Visa Infinite* Card
vs Scotiabank Gold American Express® Card
vs Scotiabank Passport® Visa Infinite* Card
vs Rogers Red World Elite® Mastercard®
vs American Express® Green Card
vs PC World Elite Mastercard
vs MBNA Rewards World Elite® Mastercard®
vs TD® Aeroplan® Visa Infinite Privilege*
vs TD First Class Travel® Visa Infinite* Card
vs SimplyCash™ Preferred Card from American Express
vs BMO CashBack® World Elite® Mastercard®
vs CIBC Aeroplan® Visa Infinite* Card
vs American Express® Aeroplan®* Card
vs American Express® Aeroplan®* Reserve Card
vs SimplyCash® Card from American Express
Other Comparisons
Other Comparisons
vs American Express Cobalt® Card
vs TD Aeroplan® Visa Infinite* Card
vs Rogers Red Mastercard®
vs Scotiabank Gold American Express® Card
vs Scotiabank Passport® Visa Infinite* Card
vs Rogers Red World Elite® Mastercard®
vs American Express® Green Card
vs MBNA Rewards World Elite® Mastercard®
vs SimplyCash™ Preferred Card from American Express
vs Scotia Momentum® Visa* Card
vs American Express® Aeroplan®* Card
vs American Express® Aeroplan®* Reserve Card
vs SimplyCash® Card from American Express
American Express Gold Rewards Card® vs American Express Platinum Card®: When to go for one over the other
Annual Fees and Requirements
The American Express Gold Rewards Card has a lower annual fee compared to the American Express Platinum Card, making it a more budget-friendly option for individuals who want to enjoy travel benefits and rewards without the high cost. The Platinum Card, on the other hand, comes with a much higher fee, making it suitable for those who frequently travel and can fully take advantage of its luxurious perks. Neither card has a specific income requirement, so both are accessible based on your creditworthiness, but the Platinum Card’s higher fee is best for those seeking premium travel experiences.
Rewards Comparison
The rewards offered by the American Express Gold Rewards Card and the Platinum Card are very similar, as both cards allow users to earn Membership Rewards points. However, the key difference lies in their bonus categories. The Gold Rewards Card gives bonus points on gas and groceries, making it an excellent choice for individuals who spend heavily on these categories. The Platinum Card, on the other hand, focuses its bonus points on dining, appealing more to those who dine out frequently. Ultimately, the difference in bonus categories will make one card more appealing over the other depending on your spending habits.
Benefits and Insurance Comparison
The benefits and insurance offered by these cards differ significantly. The Gold Rewards Card provides a balanced selection of travel benefits, including four complimentary lounge passes annually and a $100 travel credit, along with essential insurance like travel medical, trip cancellation, and interruption coverage. This makes it a strong choice for users who want good travel perks without a premium price.
The Platinum Card has the same exact insurance offered by Gold but comes with many additional benefits and perks and is designed for those who prioritize luxury travel experiences. It provides unlimited access to over 1,300 airport lounges globally, automatic hotel status upgrades with Marriott and Hilton, and additional perks like $300 in travel and dining credits. If your focus is on premium perks, the Platinum Card stands out, while the Gold Rewards Card offers solid benefits at a lower cost.
Conclusion
Given that the rewards structures of the American Express Gold Rewards Card and Platinum Card are so similar, the decision largely hinges on whether the extra cost of the Platinum Card is worth its additional benefits. If you prioritize everyday spending categories like gas and groceries and prefer a lower annual fee, the Gold Rewards Card is likely the better fit. However, if you believe the extensive travel perks, including unlimited lounge access, hotel upgrades, and additional insurance, are worth the higher cost, then the Platinum Card provides superior value for frequent travelers who enjoy luxury benefits.
Legal