Jack Prenter, Founder of Dollarwise
American Express (AMEX) continues to be a frontrunner in offering an array of credit cards tailored to suit varied lifestyles and spending habits. Several AMEX credit cards have risen to the top in Canada, boasting unmatched rewards, benefits, and features.
Whether you’re an avid traveler, a food enthusiast, or simply looking for the best cashback options, our comprehensive review of the best AMEX credit cards in Canada for this month will guide you to the perfect card that aligns with your needs.
What is the best AMEX credit card?
The best AMEX credit card is the American Express Cobalt because it offers a blend of robust rewards and versatile perks tailored for the Canadian market.
Renowned for its exceptional points accrual on dining and travel expenses, the Cobalt card ensures that every dollar spent translates to tangible benefits. Whether you’re dining out in Toronto, booking a flight to Vancouver, or simply grabbing a latte in Montreal, this card ensures maximum value for your expenditures.
Furthermore, its comprehensive suite of travel insurances and other complementary benefits make it the top choice for Canadians seeking a balance of luxury and practicality in their credit card experience.
American Express Cobalt
| Annual Fee | $155 |
| Intro Offer | 30,000 points |
| Annual Rewards | $1,080 |
The American Express Cobalt card is a standout option for Canadians looking for a credit card with generous rewards. With this card, users earn 5 points for every dollar they spend on dining, groceries, and eligible entertainment.
This means that frequent diners and grocery shoppers can accumulate points quickly. Additionally, the AMEX membership points earned are quite flexible. Cardholders have the option to transfer their points to a range of airline and hotel partners.
For those who love to travel, the Cobalt card offers comprehensive travel insurance. This includes coverage for medical emergencies outside of the province and unexpected trip delays or cancellations.
Another advantage is its fee structure. Instead of a large annual fee, users pay a more manageable monthly fee of $12.99. For new users, there’s a welcoming touch: they can earn up to 30,000 Membership Rewards points in their first year.
In terms of annual rewards, this card is a leader in Canada, especially due to its impressive transfer value and the high earn rate for restaurants and groceries.
However, there are a few things to keep in mind. One limitation is that not all merchants in Canada accept American Express.
While the points system is robust, there are some restrictions. For example, points can only be redeemed for travel purchases or statement credits in specific categories.
The monthly fee, though more manageable than an annual fee, is still present, distinguishing it from no-fee cards. Lastly, while the card does offer travel insurance, it doesn’t provide other travel perks. Cardholders won’t have access to airport lounges or receive elite status in any travel programs.
What is the best premium AMEX credit card?
The best premium AMEX credit card is the American Express Platinum because it offers a stellar combination of travel rewards, premium benefits, and exclusive access that cater to high-end users.
Especially tailored for the Canadian market, this card boasts impressive perks such as a generous welcome bonus, extensive airport lounge access, and a suite of travel insurance coverages.
Coupled with its dedicated concierge service and special dining experiences, the American Express Platinum stands out as the ultimate choice for Canadians seeking luxury and convenience in their financial companion.
American Express Platinum
| Annual Fee | $699 |
| Intro Offer | 80,000 points |
| Annual Rewards | $576 |
The American Express Platinum is a Canadian credit card that boasts a hefty welcome bonus. New cardholders can earn up to 100,000 Membership Rewards points. For those who travel, it offers a range of perks.
This includes travel insurance and the privilege of accessing airport lounges. When it comes to spending, you can earn up to three times the points per dollar in certain spending categories.
One of its standout features is the flexibility it offers in redeeming points. Cardholders can use their points for travel, merchandise, and more. Plus, there’s the added bonus of getting access to special events and experiences. And if you ever need help, the Platinum Concierge service is there to provide personalized assistance.
The card comes with a high annual fee of $699. If you’re looking to transfer points to airlines, the choices are limited compared to other cards. Those who don’t travel often might find some of the features unnecessary.
To get approved for this card, you need to have excellent credit. And lastly, while American Express is widely accepted, it’s not as universal as Visa and Mastercard. Some smaller merchants might not take it.
Best AMEX Business Credit Card
The best AMEX Business Credit Card is The Business Platinum Card from American Express because it offers Canadian businesses unparalleled rewards, extensive travel benefits, and a suite of tools tailored for corporate management.
With its impressive point accumulation rate on business-related expenses and exclusive access to airport lounges worldwide, it stands out as a premium choice for entrepreneurs and companies in Canada.
Furthermore, its comprehensive expense management features and world-class customer service make it an indispensable asset for businesses aiming to optimize and streamline their financial operations.
The Business Platinum Card American Express
| Annual Fee | $499 |
| Intro Offer | N/A |
| Annual Rewards | $600 |
The Business Platinum Card from American Express is a standout option for businesses in Canada. One of its major strengths is the comprehensive travel benefits it offers. Cardholders get to enjoy access to airport lounges, which can be a boon for frequent travelers.
Additionally, it provides a high potential for earning reward points on eligible purchases. These points are versatile and can be redeemed for various options, including travel or even as credits on your statement.
For businesses aiming to streamline their operations, this card offers tools to manage expenses, making it easier to track and categorize spending.
Another advantage is the premium customer service available round the clock, ensuring help is at hand anytime it’s needed. For those who engage in international transactions, the card is even more appealing as it doesn’t charge foreign transaction fees.
However, there are some considerations to bear in mind. The card comes with a high annual fee, especially when compared to other business credit cards available in Canada.
Another limitation is the acceptance rate of American Express. It isn’t as widely accepted as Visa or Mastercard, which could be a drawback for some businesses.
The card doesn’t feature an introductory offer for newcomers, which many competitors often provide.
Lastly, businesses that don’t have significant travel needs might find that the benefits don’t necessarily align with their operations, making it less optimal for them.
Best AMEX Cashback Card
The best AMEX Cashback Card is the SimplyCash Preferred Card from American Express because of its impressive cashback rates and a plethora of added benefits tailored for Canadian consumers.
With competitive returns on everyday purchases, it stands out as an optimal choice for those seeking to maximize their rewards. Moreover, its additional perks such as insurance coverages and exclusive offers further solidify its position as a top-tier cashback card in the Canadian credit card market.
SimplyCash Preferred Card American Express
| Annual Fee | $119 |
| Intro Offer | N/A |
| Annual Rewards | $612 |
The SimplyCash Preferred Card from American Express is a popular choice among Canadians, and for good reason. One of its standout features is the opportunity to earn a 2% cash back reward on all eligible purchases, which can add up quickly for frequent spenders.
If you’re a new cardholder, there’s an added bonus: for the first four months, you’ll get an impressive 10% cash back on eligible purchases. This can net you up to $400 in cash back during this promotional period. Plus, there’s no limit to how much cash back you can earn, so your potential rewards are endless.
Travel often? This card has got you covered with travel accident insurance, protection against theft and damage for car rentals, and other handy travel-related benefits. In terms of shopping, there are two notable features: purchase protection and extended warranty.
If an item you’ve bought gets stolen, lost, or damaged within 90 days, you’re covered. Also, if you buy something with the card that has a manufacturer’s warranty, the card will double that warranty, giving you up to an extra year of protection.
For those who love entertainment, the American Express Invites program offers special ticket pre-sales and exclusive event access.
However, the SimplyCash Preferred Card isn’t without its drawbacks. It comes with a $99 annual fee, which might be a deal-breaker for some.
Additionally, American Express isn’t accepted everywhere, so there are times when you won’t be able to use the card. While the 2% cash back rate is consistent, it doesn’t offer higher rates for specific purchase categories, which some users might find limiting.
For those who travel or shop internationally, the card charges a 2.5% foreign transaction fee on purchases made in currencies other than Canadian dollars.
Lastly, be aware that cash advances, balance transfers, and interest charges don’t earn any cash back rewards.
Best No-Fee AMEX
The best No-Fee AMEX is the American Express Green Card because it offers a compelling blend of rewards and benefits without burdening the cardholder with annual fees.
Especially for Canadians who are keen on maximizing their credit card advantages without additional costs, the American Express Green Card stands out.
Its combination of travel rewards, purchase protection, and the renowned customer service of American Express makes it a top choice for those navigating the Canadian credit card landscape, seeking both value and convenience.
American Express Green Card
| Annual Fee | $0 |
| Intro Offer | 10,000 points |
| Annual Rewards | $480 |
The American Express Green Card offers several benefits for its users. One of its standout features is the ability to earn rewards points on every single purchase.
These points can be redeemed in a variety of ways, from travel rewards to statement credits, offering flexibility to the cardholder. Another unique advantage is access to American Express Invites, which provides card members with presale tickets and exclusive experiences not available to the general public.
For those considering getting this card, there’s good news: there’s no annual fee for the first year. Additionally, if you add extra cardholders, they too will earn points on their spending. Moreover, this card offers Purchase Protection and an Extended Warranty on eligible purchases, adding a layer of security to your shopping.
However, it’s essential to also be aware of some of the card’s limitations. While it does provide several perks, it doesn’t offer the premium benefits associated with some of the higher-tier Amex cards.
A notable challenge is its acceptance rate, as it’s not as widely accepted as Visa and Mastercard in many places.
After the first year of no annual fees, cardholders will need to pay an annual fee of $150. Unlike some other cards, the American Express Green Card doesn’t have bonus categories for earning points.
Moreover, it doesn’t come with travel insurance benefits, which can be a drawback for frequent travelers. Lastly, international travelers should note that there’s a foreign transaction fee of 2.5% on purchases made outside of Canada.
Other American Express Cards
Curious about other AMEX credit cards? American Express has many other cards, including those issued with partners like Scotiabank and other big Canadian bank credit card issuers.
- Scotiabank American Express Platinum
- Scotiabank Gold American Express
- Scotiabank American Express
- SimplyCash Card American Express
- American Express Gold Rewards Card
- American Express Aeroplan Reserve Card
- American Express Aeroplan
- American Express Essential Credit Card
- American Express Aeroplan Business Reserve
- American Express Business Edge Card
- Marriott Bonvoy Business American Express
- Marriott Bonvoy American Express Card
- American Express Business Gold Rewards Card
How did we rank these AMEX cards?
We collected an enormous amount of data for every credit card in our system, with 100+ pieces of data for each card.
Using this data, and what we believe is an average breakdown of monthly spending habits, we’re able to predict the rewards that you would earn using each credit card. We then consider other reviews, our personal experience and the commission that we earn on referrals to decide how to rank them.
Factors in our data include:
- rewards
- annual fees
- welcome bonuses
- interest rates
- perks
- insurance
Our goal is to be as impartial as possible and as a business the referral fees we earn do play a small role in our rankings, or whether a card is included on the site at all.