AdChoices
RATESDOTCA uses cookies and other similar technologies in order to provide you advertising based on your browsing activities and interests. If you wish to opt out of interest-based advertising or manage your preferences click here.
American Express, one of the top credit card companies in Canada, offers great cards for those who love to travel and indulge in experiences such as exploring new cities, attending incredible live events, and enjoying fine dining. Its unique credit card rewards program allows you to take advantage of several great rewards and perks such as annual travel credits, purchase protection, airport lounge access, pre-sale ticket access and more. American Express offers multiple personal credit cards under its own name, along with rewards credit cards through various partners. See the best American Express credit cards in Canada and start taking advantage of their renowned rewards program today.
| Best of Finance 2021 Winners from American Express | ||
|---|---|---|
|
Credit card |
Best of Finance Awards |
Annual fee |
|
$156 ($12.99 per month) |
|
|
$0 |
|
|
More excellent credit cards from American Express® |
||
|
Credit cards |
Top features |
Annual fee |
|
$99 |
|
|
$120 |
|
|
$599 |
|
|
$699 |
|
|
|
|
$120 |
|
|
|
$120 |
The American Express CobaltTM Credit Card is one of the best credit cards on the Canadian market. Get five times the points at coffee shops, bars, restaurants, grocery stores, and even food delivery services. Earn three times the points on select streaming subscriptions and two times the points for every dollar spent on public transport, taxis, rideshare, and gas. Also, access exclusive benefits for members of the American Express CobaltTM Credit Card.
Based on our Best of Finance methodology, the average Canadian will earn an astonishing $1,874 in rewards for the first year. That is a staggering return for such a reasonably priced card.
Once you have your points, you can redeem them for almost anything — even purchases through Amazon.ca.
Credit score requirement for approval:
Fair: You’ve had a credit card or loan for one or more years. For the last two years, you’ve paid back debts to creditors (with no defaults). You haven’t missed more than two payments on your credit in the last three months.
Annual fee:
$155.88 ($12.99 per month)
Annual fee for additional cardholders: $0
Limited time offer/bonus:
Offer expiry date: N/A subject to change without notice
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 116,000 Membership Rewards® points
Monetary value= $2,030
Annual fee = $156*
Total earned over the first year (rewards minus annual fee) = $1,874
* The American Express CobaltTM Credit Card has a $12.99 monthly fee ($155.88 per year).
You can redeem your points for:
Insurance:
Other perks:
Want to learn more about how the American Express CobaltTM Credit Card stands up against the competition? Read more from our "In the Ring" series:
In the Ring: American Express Cobalt Credit Card vs. Scotiabank Gold American Express Card
The SimplyCash™ Card from American Express offers 4% cash back on all purchases for the first six months, up to $5,000 in total purchases. After the welcome rate expires, earn 1.25% cash back. There is no limit to how much you can earn.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for six or more years. You’ve had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments for existing credit cards for the past three months.
Annual fee:
$0
Annual fee for additional cardholders: $0
Limited time offer/bonus:
Offer expiry date: N/A subject to change without notice
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = $465
Annual fee = $0
Total earned over the first year (rewards minus annual fee) = $465
Insurance:
Other perks:
Not all great American Express® cards took home Best of Finance honours in 2021. Take a look at some more excellent options from American Express®, which may suit your lifestyle and spending habits just as well as the Best of Finance 2021 winners.
The SimplyCash™ Preferred Card from American Express offers 10% cash back for the first four months of membership, up to $4,000 in total purchases. That is up to $400 cash back. Earn 2% cash back on all purchases after that, all for an annual fee of only $99.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for six or more years. You’ve had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments for existing credit cards for the past three months.
Annual fee:
$99
Annual fee for additional cardholders: $0
Limited time offer/bonus:
Offer expiry date: N/A subject to change without notice
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = $800
Annual fee = $99
Total earned over the first year (rewards minus annual fee) = $701
Insurance:
Other perks:
Cardholders of the Marriott Bonvoy™ American Express® Card earn 70,000 Welcome Bonus points when they spend at least $1,500 in the first three months of opening their account. Plus, they can earn 5 points for every $1 on eligible travel and gas purchases in Canada for their first three months. Offer subject to change at any time.
Earn five points for every $1 spent at participating Marriott Bonvoy properties — there are over seven thousand of them — and two points for every $1 spent elsewhere. If you already stay at hotels regularly, you can reasonably expect to earn over $1000 in rewards in the first year.
The perks are excellent too. Receive a free night’s stay at a hotel after your account anniversary each year, automatic Silver Elite status at Marriott BonvoyTM hotels and plenty more.
This card does not provide emergency medical travel insurance, which is the only reason this card doesn’t take our “best of travel” award.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for six or more years. You’ve had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments for existing credit cards for the past three months.
Annual fee:
$120
Annual fee for additional cardholders: $0
Limited time offer/bonus:
Offer expiry date: N/A subject to change without notice
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 122,000 Marriott BonvoyTM points
Monetary value= $1,183
Annual fee = $120
Total earned over the first year (rewards minus annual fee) = $1,063
You can redeem your points for:
Insurance:
Other perks:
The American Express® Aeroplan®* Reserve Card has a $599 annual fee, which may turn a few people off. But the welcome bonus of 65,000 Aeroplan points and $100 statement credit should pique your interest.
Earn 35,000 Aeroplan points and a $100 statement credit after spending $3,000 in purchases in the first three months of opening the account. Get another 5,000 points each month you spend at least $1,000 on the card for six months (up to 30,000 Aeroplan points).
Regularly earn three points for every $1 in eligible purchases made directly through Air Canada®* and Air Canada Vacations®. Get two points for every $1 spent on eligible dining and food delivery in Canada and 1.25 points for every $1 on all other purchases.
Also, receive airport lounge access and other perks like priority security lanes at Toronto’s Pearson Airport.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for six or more years. You’ve had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments for existing credit cards for the past three months.
Annual fee:
$599
Annual fee for additional cardholders:
Limited time offer/bonus:
Offer expiry date: N/A subject to change without notice
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 101,450 Aeroplan points
Monetary value= $2,029
Statement credit = $100
Annual fee = $599
Total earned over the first year (rewards minus annual fee) = $1,530
You can redeem your Miles for:
Insurance:
Other perks:
The iconic Platinum Card® from American Express has a large annual fee ($699), but it is chock-full of features and benefits that more than justify the price tag. This card opens doors to numerous exclusive perks and experiences and offers a high return on spending. Plus, there is no shortage of ways to redeem the rewards.
Right now, cardholders can earn 50,000 Membership Rewards® points when they spend at least $3,000 in the first three months of opening the account.
The Platinum Card® from American Express is a charge card, so there is no pre-set spending limit, although you have to pay off the bill in full each month or a 30% annual interest rate applies.
Credit score requirement for approval:
Excellent: You’ve had a credit card or loan for at least 10 years. You’ve had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments for your existing credit cards for the past six months.
Annual fee:
$699
Annual fee for additional cards:
Limited time offer/bonus:
Offer expiry date: N/A subject to change without notice
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 84,700 Membership Rewards® points
Monetary value= $1,482
Annual fee = $699
Total earned over the first year (rewards minus annual fee) = $783
You can redeem your points for:
Insurance:
Other perks:
Apply for the American Express® AIR MILES®* Platinum Credit Card to earn 2,000 AIR MILES Bonus Miles when you spend at least $1,500 in the first three months of opening the account.
Regularly earn one Mile for every $5 in eligible food, gas and transit purchases in Canada, up to $30,000 annually. Get one Mile for every $10 in purchases elsewhere.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for six or more years. You’ve had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments for existing credit cards for the past three months.
Annual fee:
$120
Annual fee for additional cardholders: $0
Limited time offer/bonus:
Offer expiry date: N/A subject to change without notice
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 5,660 Miles
Monetary value= $973
Annual fee = $120
Total earned over the first year (rewards minus annual fee) = $853
You can redeem your Miles for:
Insurance:
Other perks:
The American Express® Aeroplan®* Card offers cardholders up to 15,000 bonus Aeroplan points and a bonus Buddy Pass in the first year. Earn 9,000 Aeroplan points and a bonus Buddy Pass when you spend at least $1,500 in purchases in the first three months of opening the account. Get another 1,000 points each month you spend at least $500 on purchases for six months (up to 6,000 Aeroplan points).
The American Express® Aeroplan®* Card is a charge card, so there is no pre-set spending limit, although you have to pay off the bill in full each month or a 30% annual interest rate applies.
Credit score requirement for approval:
Good: You’ve had a credit card or loan for six or more years. You’ve had good credit for the last seven years (no bankruptcies or no defaults on credit as a result of failing to pay debts back to creditors). You haven’t opened a new credit card account, loan, or line of credit in the last nine months. You’ve made the minimum payments for existing credit cards for the past three months.
Annual fee:
$120
Annual fee for additional cardholders:
Limited time offer/bonus:
Offer expiry date: N/A subject to change without notice
Rewards:
Earning potential:
How does this card stack up to other rewards credit cards? We crunched the numbers using our Best of Finance methodology to see how much an average Canadian could earn over a 12-month period.
Rewards earned over a 12-month period = 42,900 Aeroplan points
Monetary value= $858
Annual fee = $120
Total earned over the first year (rewards minus annual fee) = $738
You can redeem your points for:
Insurance:
Other perks:
*Rates, product information, and reward estimates are subject to change at any time and do not constitute financial advice.
Every American Express credit card gives you access to the company’s robust Membership Rewards® program. Whether you hold a top tier or low tier American Express credit card, you’ll have access to the a range of credit card rewards and perks. Here’s how your American Express credit card rewards and perks will work:
American Express has a wide variety of product and services that are offered through their international partners. Here are the services and products offered through American Express and their partners:
Air Miles: American Express offers Air Miles credit cards that allow you to collect Air Miles with every eligible purchase. Collecting Air Miles is a smart option for the frequent traveler. Use your Miles to purchase travel tickets once you’ve collected the required amount. You can also shop at participating Air Miles partners across Canada and show your Air Miles membership card while paying with your Air Miles American Express credit card to earn Air Miles not once, but twice.
Marriott Bonvoy: American Express has partnered with Marriott Bonvoy to give you access to amazing international hotel stays through their rewards program. The Marriot Bonvoy American Express credit card allows you to earn 5 Bonvoy points per $1 spent at Marriott International hotels and 2 points per $1 spent on any other purchases charged to the card. You can also use your credit card rewards points to book a stay at more than 7,000 of the world’s most attractive hotels. For example, Amex points can be converted into Hilton Honors Program account at a 1:1 ratio.
Aeroplan: The American Express and Aeroplan program promises to elevate your travel experience by allowing you to collect travel points and redeem them for flight tickets, discounts, travel upgrades and much more. You can also access airport benefits including access to Pearson Priority Security Lane and complimentary Valet Service on select cards. So get ready to book the best weekend getaways and vacations with your American Express Aeroplan card.
Unlike, Visa or Mastercard, American Express credit cards may not be accepted everywhere you shop. Some merchants avoid accepting Amex cards due to the high merchant fees. Be prepared to offer another form of payment at places where your American Express credit card isn’t accepted. Many Amex cardholders keep another credit card for such places.
