Note: Offer has Changed Since Time of Publication – Please View Updated Terms on Application Page
The American Express Business Platinum Card has the highest signup bonus in Canada, at 75,000 Membership Rewards points. The current public offer is 40,000 points. There is no public expiry date for this offer, which means it could change at any time.
American Express is my favourite credit card issuer in Canada. They have the best range of cards, and incredible benefits and offers. For example, there is a ongoing Duty Free Shopping promotion where you could get up to a 100% rebate for purchases. Furthermore, American Express ran the one of the best promotions ever last month, where you could earn 10x the points on Dining and Groceries with the Cobalt Card.
American Express Business Platinum Card Review
After spending $5,000 in the first three months, you earn 75,000 Membership Rewards points, transferrable to Aeroplan and British Airways at a 1:1 ratio. You can also transfer to Starwood Preferred Guest for hotels. I value Aeroplan points at a minimum of 1.6 cents, which means the signup bonus is worth $1,280 after completing minimum spend.
My favourite Aeroplan redemption is Lufthansa First Class, which costs only 70,000 miles from Europe Zone 1 to North America. A ticket at retail prices would cost over $6,000. With this bonus, you can redeem a one-way ticket with points to spare.
Alternatively, you could book 5 round-trip short-haul flights by transferring to British Airways. This could be from Vancouver to Los Angeles or Toronto to New York City, which cost 7,500 each way. There are also some incredible values using Avios for short-haul flights worldwide.
If you have trouble completing minimum spend, I suggest using PayTM, a mobile app to bill pay hundreds of merchants. It’s a great tool because there are no additional fees when using a credit card instead of a bank account. I paid my property taxes through this app which helped me complete the majority of the spend required. For first time users, input promo code PTM9462620 to get a $10 bonus after paying more than $25 on your first bill.
This card is one of the best available options for everyday non-bonused purchases, earning 1.25 Membership Rewards points per dollar. Other options include the personal version of the Platinum Card, as well as the SPG American Express Card and SPG Business American Express. For purchases in categories like Groceries, Dining, and Gas, I will use the Cobalt Card or the Scotiabank Gold American Express card which earn up to 5x points per dollar.
Applying For the Card
This American Express Business Platinum is a charge card, with no pre-set spending limit. There is no minimum income requirement, as they improved their eligibility criteria last May. American Express pulls TransUnion to check your credit.
You can get approved even if you don’t have a registered business. You don’t need an existing business bank account or any other business bank relationships. In nearly all cases, they use your personal credit score in their lending decision.
With this card, you will be able to complete a Global Transfer with AMEX after being a cardmember for at least three months. This gives you a chance to use your Canadian AMEX history to get a US credit card, many of which have much better signup bonuses.
This card is a good in-between the American Express Platinum Card, the best card in Canada for travel benefits, and the typical $120-150 annual fee premium card. It is the cheapest card that gets you access into Centurion Lounges, Delta SkyClubs, and Plaza Premium lounge worldwide. The only difference from the personal Platinum Card is that you don’t get a free Priority Pass membership. However, this is perfect if you already have a Priority Pass membership.
You can book luxury hotels with American Express Fine Hotels and Resorts which gives added benefits on bookings. You also get wit this card SPG Gold status (which matches to Marriott Gold), and Hertz Five Star status.
In terms of insurance, the card also has one of the best trip delay insurance policies available – up to $1,000 for just a four hour or more delay. Just having one qualifying delay would mean that you could get more value than the annual fee from this insurance policy alone.
There is also the same coverage associated with a premium card, including car rental, emergency medical, extended warranty, and purchase protection insurance. For a complete list, visit the application page.
The American Express Business Platinum card is a fantastic addition to any wallet. This card has the highest signup bonus in Canada, which by itself already makes it one card you should get. For anyone who likes luxury travel, applying should be a no-brainer.
Application Link: American Express Business Platinum Card