American Express and Air Miles are introducing enhancements to the American Express Air Miles Platinum credit card, including an annual travel redemption benefit and more miles earned on various purchases.
Effective Nov. 4, cardholders of the AMEX Air Miles Platinum card will have access to an annual travel redemption benefit that allows them to earn bonus miles when they book a single flight or package vacation using their Dream Miles on the Air Miles website or air miles vacation website.
The bonus miles earned will be equivalent to 25% of the net number of miles that the cardholder used to book a flight or package vacation. Cardholders can take advantage of this benefit once a year.
“We want our Cardmembers to get the most out of their day-to-day purchases, whether they're paying for groceries for the family or commuting to work,” said Megan McKee, Vice President & General Manager of Consumer Cards at American Express Canada, in a release.
The other refreshment to the AMEX Air Miles Platinum card is an enhanced earn rate. As of Nov. 4, cardholders will be able to earn:
- One mile for every $5 in purchases (currently one mile for every $10) on food and drinks, including grocery stores, restaurants and coffee shops, as well as gas and public transit, up to $30,000 per year; and
- One mile for every $10 on all other purchases (currently one mile for every $15).
These enhancements will come at a price, however.
The annual fee for the AMEX Air Miles Platinum card is increasing from $65 to $120, effective Nov. 4 of this year. And beginning on Feb. 25, 2020, the preferred interest rate for purchases will increase from 19.99% to 20.99%.
Cardholders will need to decide whether the hike in both the annual interest rate and annual fee justifies the added rewards.
“As we look to expand the value we offer, we are excited to innovate with existing partners to bring new ways to reward Collectors every day,” Blair Cameron, president of AIR MILES Canada, said in the release. “We are thrilled that together with American Express, we can provide improved benefits and an easier path to rewards.”
According to the release, the Air Miles Reward program has nearly 11 million active accounts, representing roughly two-thirds of all Canaidan households.