Best American Express Cards In Canada For January 2025

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.

SimplyCash® Card from American Express

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: Earn a bonus 5% cash back on all purchases (up to $2,000 in purchases). That’s up to $100 in cash back.

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.

American Express Cobalt® Card

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.

SimplyCash® Preferred Card from American Express

The SimplyCash® Preferred Card from American Express is ideal for those who want to earn cash back without tracking rewards categories.

Rewards: 4% cash back on groceries (up to $1,200 in cash back per year) and gas, 2% cash back on all purchases with no limit.

Welcome Offer: Earn a bonus 10% cash back on all purchases for the first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit after making a purchase in month 13. This could add up to $250 in bonus value in the first 13 months.

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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Scotiabank Gold American Express® Card

The Scotiabank Gold American Express® 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: Earn up to 40,000 Scene+ points. Earn 20,000 points by making at least $2,000 in eligible purchases in the first three months and get an additional 20,000 points after spending at least $7,500 in the first year. Must open account by July 1, 2025 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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American Express® Aeroplan®* Card

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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Scotiabank American Express® card

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 along with additional benefits + up to 4X Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia

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

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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American Express® Green Card

The American Express® Green Card is ideal for occasional travellers who don’t need premium perks like lounge access or flight discounts.

Rewards: Earn 1 Membership Rewards point per dollar on all eligible purchases and 1 additional Membership Rewards point when you book hotel stays and car rentals through the Amex Travel online portal.

Welcome Offer: Earn 10,000 bonus points ($100 value) when you spend at least $1,000 in your first three months of getting your card.

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 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.

With plenty of American Express cards on the market, it’s hard to know which one is the best fit for you. Here are a few things to consider when comparing Amex cards.

Rewards

Identify what type of rewards you’re interested in earning. There are Amex cards on the market that earn:

• Cash back
• Membership Rewards points
• Aeroplan points
• Scene+ points
• Marriott Bonvoy points

Your preference will likely depend on how you like to use your rewards, with cash back being the most flexible, Membership Rewards and Aeroplan points being suited to travel and Scene+ points being suited to everything from travel to movie tickets.

Welcome Bonus

A generous welcome bonus can seem very enticing. But you need to consider whether you’ll be able to actually qualify for it, as some attractive welcome offers actually require you to spend thousands over the course of a few months to receive the full offer. Beyond that, consider how the card suits your spending habits and which benefits it offers overall, rather than just looking at the welcome bonus, as that will have more lasting value.

Spending Habits

The appeal of most Amex cards is the ability to earn rewards on your everyday spending. With that in mind, it’s important to make sure your spending habits align with the categories that earn points on your card. For instance, a card that rewards restaurant spending wouldn’t be well-suited to someone who prefers to cook at home.

Another important point to consider is where you spend. Amex still has a limited payment network compared to Visa and Mastercard, though it is expanding. Make sure the stores you frequently shop at accept Amex.

Annual Fee

The annual fees associated with Amex cards vary from nothing to hundreds of dollars. Make sure you choose an annual fee you’re comfortable with and that you’ll spend enough (or use the card’s other benefits frequently enough) to make the annual fee worthwhile.

Other Benefits

Amex cards are known for their perks, including:

• Travel insurance
• Consumer insurance
• Airport benefits
• Hotel benefits
• Exclusive events

These perks can add up to hundreds in value if they correctly align with your lifestyle. Be sure to consider which points will add value for you.

Rewards

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.

Generous welcome bonuses

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.

Life-changing perks

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.

No annual fee American Express credit cards

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.

American Express acceptance rates

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:

• Statement credits: You can use your points to pay for purchases on your American Express card directly in the form of a statement credit.
• Paying for travel: With the Fixed Points Travel Program, points can be used to book flights anywhere in the world for a fixed number of points. With Flexible Points Travel Program, points can be used for travel purchases including taxes and fees booked through American Express Travel Services or americanexpress.ca/travel. You can pay with a combo of points and your card, too.
• Transferring to another loyalty program: If you belong to another loyalty program, you can transfer your points to them. This includes major programs such as Aeroplan, Hilton Honors and Marriott Bonvoy.
• Shopping with points: You can shop using your points on Amazon.ca and pay with your points on AirCanada.com.
• Redeeming for merchandise: You can use your points for a selection of merchandise from the Membership Rewards Catalogue, which includes gift cards, too.

There are plenty of ways to maximize the benefits of your American Express card, but it will largely depend on which card you have and what your personal habits are.

Maximize American Express Membership Rewards points

If your card earns Membership Rewards points, it’s important to know they have a different value depending on how you use them. It’s important to calculate the dollar value per point in order to maximize your rewards. For instance:

However, if you redeem your points using Amex’s Fixed Points Travel program, the value can be up to $0.02 per point on some flight. You can also use your points for gift cards and merchandise, calculating the points value based on the price of the item.

Understand Amex point transfer partners

American Express Membership Rewards are extremely flexible, in that they can be transferred to a number of other frequent flyer and travel loyalty programs, including:

• Aeroplan
• Asia Miles
• Avios
• British Airways
• Delta SkyMiles
• Hilton Honours
• Marriott Bonvoy

There are more loyalty programs, too. Depending on the program and the ratio at which they transfer, you may be able to get more value out of your points.

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.

Amex is known for the exclusive, valuable and fun perks they offer their cardholders. Here are some of the benefits Amex cards offer:

Amex Refer a Friend

If your family, friends, or coworkers apply through your referral link, you often get extra points when they’re approved.

Learn more: Amex Refer A Friend: How To Earn Extra Points Each Year

American Express Experiences

Cardholders get access to special events, including dining and shopping events.

American Express Front of the Line

This perk allows Amex holders to purchase tickets before they go on sale to the general public.

Amex Offers

These are exclusive offers are deals and discounts on everything from shopping to travel. You need to register to get these offers and be mindful that they are usually only valid for a limited period of time.

Although Amex is less widely accepted than Visa and Mastercard, more businesses now accept it, including major retailers like Amazon, Best Buy, Ikea, and Walmart.

If you’re curious about which retailers near you accept American Express, check out this acceptance map.

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

The following Canadian banks offer American Express cards:

• American Express
• Scotiabank

If you want to apply for an American Express card, there are a variety available to choose from online.

Steps to Apply

To apply for an American Express credit card, you’ll need to do so online (unless you’re applying for a Scotiabank Amex).

Follow these steps:

1. Visit the American Express website
2. Select the card you’re interest in applying for
3. Select the Apply Now button
4. Review and agree to the terms and conditions of the card
5. Begin your application, providing your personal information, including everything from your name and address to your employment details
6. Review the information you provided to make sure it’s accurate
7. Submit your application

You may receive approval for your application very quickly or Amex may request more information before they make their decision.

What Are the Income Requirements for Amex credit cards?

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.

What Credit Score Is Needed for an American Express Card?

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.