The best Amex card in Canada is difficult to choose. With American Express gaining a strong foothold in the Great White North, they offer everything from no-fee options to luxury cash back credit cards. Whether you want to pay less interest or get travel discounts, there is likely an Amex card on the market that can meet your needs. Forbes Advisor analyzed the best American Express cards in Canada to see how each one stacks up, based on its earn rates, rewards, perks and more.
Featured Partner Offers
1
American Express Cobalt® Card
Welcome Bonus
Up to 15,000 Membership Rewards points
Annual Fee
$155.88
Regular APR
21.99%
2
SimplyCash® Card from American Express
Welcome Bonus
Up to $100 in Statement Credits
Annual Fee
$0
Regular APR (Purchases)
21.99%
3
Business Platinum Card® from American Express
Welcome Bonus
Up to 120,000 Membership Rewards® points
Annual Fee
$799
Regular APR
30% ‘Due In Full’ balance, 21.99%-28.99% (flexible payment option)
When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With American Express cards, the scoring model used takes into account factors such as, but not limited to, cash back rates and categories, fees, welcome bonus, and other rewards and features. Keep in mind what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.
The American Express Cobalt® Card offers high earn rates for frequent travellers who want their everyday purchases to cover flights and hotels.
Rewards: Earn 5 Membership Rewards per dollar spent on groceries (up to $30,000 annually), 3 Membership Rewards points per dollar spent on eligible streaming subscriptions in Canada, 2 Membership Rewards points per dollar spent on rideshares, transit and gas in Canada 1 Membership Rewards point per dollar spent on all other eligible purchases and 1 additional Membership Rewards point for every dollar spent on eligible hotel or car rental bookings made with American Express Travel.
Welcome Offer: In your first year as a new Cobalt Cardmember, you can earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in net purchases on your Card. This could add up to 15,000 points in a year. That’s up to $150 towards a weekend getaway or concert tickets
Annual Fee: $155.88 ($12.99 per month)
Other Benefits and Drawbacks: Cardholders get a strong return on travel purchases, which is around $10 for every 1,000 points. The value of points is far less on redemptions for statement credits, gift cards and other retail purchases.
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The SimplyCash® Card from American Express rewards everyday spending with a flat earn rate of 1.25% and no annual fees.
Rewards: Earn 2% on gas and groceries and 1.25% on everything else.
Welcome Offer: Get up to $100 in statement credits for spending $300 each month in the first ten months.
Annual Fee: $0
Other Benefits and Drawbacks: While the 2% earn rate is capped at $300 in annual cash back, there is no spending limit on the base rate of 1.25%. There can also be up to nine additional cardholders to accelerate cash-back rewards.
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The SimplyCash® Preferred Card from American Express is ideal for those who want to earn cash back without tracking rewards categories.
Rewards: Receive up to $400 in statement credits when you spend $750 for each billing period during the first 10 months.
Welcome Offer: Collect 4% on gas and groceries and 2% on everything else.
Annual Fee: $119.88 (Billed as $9.99 a month)
Other Benefits and Drawbacks: Compared to the no-fee version, this card has better earning potential and more travel insurance. However, cash-back rewards are still limited to an annual statement credit.
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The Scotiabank Gold American Card offers a solid return for travellers who book international trips to benefit from not paying foreign transaction fees.
Rewards: Earn 6 points per dollar at select grocery stores, 5 points per dollar on restaurants, entertainment and other grocery purchases, 3 points per dollar on fuel, transportation and streaming services and 1 point per dollar on everyday purchases.
Welcome Offer: 40,000 Scene+ points (Earn 20,000 points by making at least $1,000 in the first three months, get 20,000 points when you spend at least $7,500 in your first year). Must open card by July 1, 2024 to qualify.
Annual Fee: $120
Other Benefits and Drawbacks: Redeeming points is relatively simple, with popular options for travel expenses, gift cards and statement credits. However, elevated earn rates drop to 1 point per dollar after reaching the $50,000 spending limit.
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The American Express® Aeroplan®* Card is best suited for travellers who frequently book flights with Air Canada.
Rewards: Get 2 points on purchases with Air Canada, 1.5 points on restaurants and 1 point on all other purchases.
Welcome Offer: Collect up to 50,000 Aeroplan points. Earn 30,000 Aeroplan points after spending $3,000 in purchases in the first 3 months. Plus, earn 20,000 Aeroplan points after spending $1,000 in purchases in month 13.
Annual Fee: $120
Other Benefits and Drawbacks: The ability to turn points on everyday purchases into travel rewards has substantial value. Cardholders will have to book multiple Air Canada flights and pay monthly balances in full to make the card benefits worth it.
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The Scotiabank American Express Card is an excellent option for those who want to earn decent rewards on common purchases without paying an annual fee.
Rewards: Get 3 points per dollar at select grocery stores, 2 points per dollar on restaurants, fast food, drinking establishments, entertainment, gas, transit, streaming subscriptions and groceries and 1 point per dollar on everything else.
Welcome Offer: Earn up to up to 7,500 bonus Scene+ points within your first 3 months (that’s up to $75 towards travel). Must open account by July 1, 2024.
Annual Fee: $0
Other Benefits and Drawbacks: Cardholders can earn bonus points on hotel and car rental bookings. Travel insurance will need to be purchased separately since it’s not a built-in feature, which can add extra fees on every trip.
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The Marriott Bonvoy® American Express®* Card offers flexible rewards for travellers who frequently stay at Marriott brand hotels and resorts.
Rewards: Earn 5 points on every dollar spent at Marriott Bonvoy Hotels and 2 points for every dollar on all other purchases.
Welcome Offer: Receive 50,000 Membership Rewards points when you spend at $1,500 in net purchases in the first three months of your card activation.
Annual Fee: $120
Other Benefits and Drawbacks: Additional perks include annual hotel credits and bonus points for Marriott Bonvoy Members and point transfers to frequent flyer programs. The only thing missing is emergency medical insurance.
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The American Express Business Edge Card offers business owners a decent return on regular expenses, supplies, dining and more.
Rewards: Collect 3 points per dollar on business essentials and 1 point per dollar on everything else.
Welcome Offer: Get up to 57,000 Membership Points in the first year and earn 10 times the points on business essentials during the first six months (67,000 total points).
Annual Fee: $99
Other Benefits and Drawbacks: The base earn rate of 3% puts this card in front of the pack for business rewards. However, this bonus category is capped at 75,000 points per year which translates to about $25,000 in annual spending.
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The American Express® Green Card is ideal for occasional travellers who don’t need premium perks like lounge access or flight discounts.
Rewards: Earn a base rate of 1 point per dollar on all purchases.
Welcome Offer: Collect 10,000 Membership Points on $1,000 in eligible purchases during the first three months.
Annual Fee: $0
Other Benefits and Drawbacks: Membership Points can range in value depending on how you redeem them. Transferring points to loyalty programs will have the highest return compared to statement credits which usually convert at 6 cents per point.
Data research and analysis by Tia Duncombe, Debra Toews and Jack Choros.
American Express offers a wide range of products, ranging from no fee cards that earn cash back to luxury travel cards with substantial annual fees.When deciding on a card, always make sure the rewards align with your annual spending, to be sure if the annual fee and benefits are worth it. That said, American Express is not accepted at all retailers (such as Costco). Be sure that American Express is accepted at the retailers you do the bulk of your shopping with before choosing a card. You can find out which stores and retailers accept American Express on this map.
Each American Express card on this list earns either points or cash back. We’ve calculated how much you can earn based on average yearly spending in Canada with each card (noted in the highlights). Once you factor in the cost of the annual fee, the cards ranked on this list vary from earning $823.12 (Scotiabank Amex Gold) to $317.06 (Amex Air Miles Platinum). That said, just because the earnings might be lower for a particular card doesn’t mean that its other features won’t offer value too.
American Express is known for offering valuable welcome offers to clients. This can be in the form of points earnings and cash back on purchases.
Most American Express cards offer substantial perks, from entertainment, dining and airport lounge privileges, to valuable insurance for travel, car rentals and mobile devices.
American Express cards do come with a few downsides, despite all the benefits they offer.
The Amex brand is synonymous with luxury, so its no surprise they only have a few no annual fee offerings. The brand only offers three cards in Canada with no annual fee: The American Express Essential Credit Card, The SimplyCash® Card from American Express and American Express® Green Card.
Amex has higher merchant fees, which means fewer merchants will accept them. However, the network has grown substantially in Canada, and many major retailers accept American Express cards. You can check their network to see if the stores you shop at accept Amex cards. Major chains, including Walmart, Sobeys, and Tim Hortons currently accept Amex. However, Loblaws and Costco still don’t accept Amex. So, if you do the majority of your shopping at select stores, Amex might not be worth it for you.
Related: Best Store Credit Cards In Canada
You can hold multiple American Express cards at once. However, doing multiple credit checks can hurt your credit score. That said, holding more than one card gives you a backup payment option and can help you maximize rewards—just watch out for annual fees.
American Express Membership Rewards points are earned on most American Express cards. Membership Rewards points are some of the most flexible points available. Here is what they can be used for:
Amex is known for their luxury perks and also their entertainment offers. Front of the Line means you get access to Ticket Presales, where you’re able to buy presale tickets for concerts, theatre and other events. You also get Reserved Tickets, where you can buy tickets from a selection of seats reserved specifically for American Express. You can also earn statement credits when you shop with select merchants through Amex Offers.
Each American Express card is different and whether a card holds value for you depends on the annual fee, it’s rewards earnings, your spending habits and the card’s perks. For instance, a single individual who doesn’t travel frequently may not find value in a luxury card with a high annual fee, but an avid traveller who spends a lot of money per year might get great value from that card, both in rewards, insurance and travel perks.
Related: Top Credit Cards for Canadians
If you want to apply for an American Express card, there are a variety available to choose from online.
Different American Express cards have differing income requirements (and some credit cards don’t have any). They vary based on what card you are looking for.
Each American Express credit card has a different credit score requirement. However, they do not have a card option specifically tailored to those with bad credit.
Each card has unique benefits. Amex Gold rewards dining, shopping and travel purchases. Amex Platinum offers travel perks and complimentary hotel services.
Learn more: Amex Gold Rewards vs. Platinum
The best American Express card will be different for everyone. Consider your finances and the type of rewards you will benefit from when evaluating credit cards.
Some American Express cards have high annual fees, like the American Express Platinum Card. Several cards, including the American Express Green Card, do not charge annual fees.
American Express acceptance is something to check before getting a card. If you frequently shop at stores that do not accept American Express, it may be worth considering another card, or using a different brand of credit card at those stores to earn points and rewards.
When you apply for an Amex card, the company will take a look at your credit history, considering your ability to make payments on time, repay what you owe and your financial obligations. If you do not qualify for an American Express credit card at first, you may want to opt for a credit card that can help to rebuild your credit and try again in the future.
The American Express Black Card is the most premium Amex, however, it’s only available through invitation.
Yes. In fact, plenty of American Express cards earned spots on our list of Best Credit Cards in Canada.
