American Categorical bank cards provide a few of the highest earn charges and most rewarding journey perks for bank cards in Canada. Right here, we break down the perfect Amex playing cards within the nation for money again, journey, no price and low curiosity.
Greatest American Categorical bank cards in Canada
featured
Greatest money again Amex card
SimplyCash Most well-liked Card from American Categorical
Earn a minimal of two% money again on all purchases, and 4% money again on main spending classes.
be taught extra
Curiosity Charges:
21.99% buy, 21.99% money advance, N/A stability switch
Welcome provide:
$250 worth
Earn a bonus 10% money again on all purchases on your first 3 months (as much as $2,000 in purchases). Plus, earn a $50 assertion credit score once you make a purchase order in month 13. This might add as much as $250 in bonus worth in your first 13 months.
featured
Greatest Amex journey card
Scotiabank Gold American Categorical Card
Earn as much as 6 Scene+ factors per $1 spent and entry unimaginable journey perks, together with no overseas transaction charges.
be taught extra
Curiosity Charges:
20.99% buy, 22.99% money advance, 22.99% stability switch
Welcome provide:
$450 worth
Earn as much as $950 in worth within the first 12 months, together with as much as 45,000 bonus Scene+ factors. To qualify, apply by December 31, 2024.
featured
Greatest no-fee Amex card
American Categorical Inexperienced Card
Earn as much as 2 Membership Rewards factors on each buy with out paying an annual price.
be taught extra
Curiosity Charges:
21.99% buy, 21.99% money advance, N/A stability switch
Welcome provide:
$100 worth
Earn 10,000 Membership Rewards factors once you cost $1,000 in purchases to your card within the first three months of cardmembership.
Examine standard American Categorical bank cards
Examine your American Categorical bank card choices with our interactive instrument and filter bank cards based mostly on rewards worth, annual charges, earnings necessities and extra. Use the instrument under to check bank card choices, or maintain scrolling for our editors’ high picks.
MoneySense award winners
Try the professionals and cons of our high American Categorical card picks throughout the money again, journey, low-interest and different classes.
Greatest money again American Categorical bank card
At a look: The American Categorical SimplyCash Most well-liked is without doubt one of the greatest money again bank cards in Canada, providing a beneficiant 4% money again on fuel and groceries and a pair of% on all different purchases. There’s no earnings requirement, making it accessible to a variety of Canadians.
featured
Amex SimplyCash Most well-liked
Annual price: $120
Welcome provide: Earn a bonus 10% money again on all purchases on your first three months (as much as $2,000 in purchases) and a $50 assertion credit score once you make a purchase order in month 13 (complete worth of as much as $250).
Card particulars
| Rates of interest | 21.99% on purchases, 21.99% on money advances |
| Revenue required | None specified |
| Credit score rating | 725 or greater |
Gold: Greatest American Categorical journey bank card
At a look: The Scotiabank Gold American Categorical is king among the many greatest journey bank cards in Canada, due to its spectacular rewards program, complete insurance coverage package deal and suite of journey perks, together with no overseas transaction charges. With a beneficiant welcome bonus and a versatile redemption course of to make use of factors for journey and different purchases, it’s excellent for frequent travellers.
featured
Scotiabank Gold American Categorical
Annual price: $120
Welcome provide: Earn as much as $950 in worth within the first 12 months, together with as much as 45,000 bonus Scene+ factors. Provide ends Dec. 31, 2024.
Card particulars
| Rates of interest | 20.99% on purchases, 22.99% on money advances, 22.99% on stability transfers |
| Revenue required | $12,000 per 12 months |
| Credit score rating | 725 or greater |
| Level worth | 1 Scene+ level = $0.01 when redeemed for journey on any airline or lodge (together with Airbnbs). |
Silver: Greatest American Categorical journey bank card
At a look: The spectacular excessive earn price of the American Categorical Cobalt, significantly within the standard meals class, makes it a standout bank card for individuals who trip usually. For journey class—which incorporates rewards for flights, transit, fuel and even rideshares purchases—presents a high-rate for incomes rewards.
featured
American Categorical Cobalt
Annual price: $156
Welcome provide: Earn 1,250 factors for every month you spend $750, as much as a most of 15,000 factors.
Card particulars
| Rates of interest | 21.99% on purchases, 21.99% on money advances |
| Revenue required | None specified |
| Credit score rating | 725 or greater |
| Level worth | 1 Amex Membership Rewards level = $0.01 when redeemed with the Versatile Factors Journey Program, $0.015 on common with the Mounted Factors Journey Program, and as much as $0.02 with airline factors transfers. |
Greatest no-fee American Categorical bank card
At a look: Consider the American Categorical Inexperienced Card because the Cobalt’s mini-me. Just like the Cobalt, this card helps you to earn versatile Amex Membership Rewards factors you can redeem for journey and money rewards—besides it has no annual price.
featured
American Categorical Inexperienced Card
Annual price: $0
Welcome provide: earn 10,000 Membership Rewards factors once you cost $1,000 in purchases to your card within the first three months of cardmembership.
Card particulars
| Rates of interest | 21.99% on purchases, 21.99% on money advances |
| Revenue required | None specified |
| Credit score rating | 725 or greater |
| Level worth | 1 Amex Membership Rewards level = $0.01 when redeemed with the Versatile Factors Journey Program, $0.015 on common with the Mounted Factors Journey Program, and as much as $0.02 with airline factors transfers. . |
Greatest low-interest American Categorical bank card
At a look: The American Categorical Important Card is an efficient low-interest bank card for Canadians who need to save on curiosity fees. And with a low annual price of $25, it’s an inexpensive choice for managing on a regular basis bills.
featured
American Categorical Important Card
Annual price: $25
Rewards: Doesn’t provide rewards.
Welcome provide: None at the moment.
Card particulars
| Rates of interest | 12.99% on purchases and 12.99% on money advances |
| Revenue required | $15,000 per 12 months |
| Credit score rating | 725 or greater |
About American Categorical Membership Rewards
American Categorical Membership Rewards is without doubt one of the most beneficial and versatile rewards applications for bank cards in Canada. However to profit from it, it’s vital to know how Membership Rewards (MR) factors work and the way a lot MR factors are price.
Journey redemptions
Journey is without doubt one of the hottest methods to redeem any of American Categorical factors applications, partly due to how versatile American Categorical made it for cardholders. There are a number of methods to profit from your factors, and also you don’t want to make use of Amex’s in-house journey company. You may redeem factors for purchases booked straight from an out of doors airline, lodge and/or journey company.
American Categorical Versatile Journey
Probably the most simplified journey redemption comes from the Versatile Journey factors program, the place every level is price $0.01 in direction of flights, lodge stays, automobile rental, trip packages and cruises. You may redeem factors for journey in flat increments of 1,000 factors (price $10).
American Categorical Mounted Journey
For those who’re trying to maximize your factors worth and rating nice journey offers, you would possibly need to use the Mounted Journey factors program. It permits you to redeem factors for round-trip flights out of Canada, based mostly on a regional rewards chart.
Level values fluctuate relying on the flight and area you’re travelling to, with every area requiring a minimal variety of factors in change for a most ticket. And you might have to pay upfront and get a refund for the ticket.
For instance, say you’re flying from Toronto to Montreal (a short-haul flight inside Canada). In keeping with the rewards chart, you’ll want a minimal of 15,000 factors, which may cowl as much as a most $300 of a flight ticket’s base worth (not together with taxes). For those who discover an airline ticket at $350 ($250 plus $100 in taxes), you would wish to redeem 15,000 factors and pay $350 (complete worth of the ticket). Then, American Categorical would refund you $250—the bottom worth of the ticket, not together with taxes. In the end, you’d pay 15,000 factors plus $100 out of pocket for the $350 ticket, which works out to $0.0167 per level—far higher than the $0.01 per level worth you’d obtain within the Versatile Factors program.
Switch choices
One of many advantages of American Categorical Rewards is the flexibility to switch your factors to 6 totally different frequent flyer applications, usually at beneficial ratios. For instance, you’ll be able to switch 1,000 Membership Rewards factors for 1,000 Aeroplan Factors at a one-to-one ratio. The worth of Aeroplan Factors fluctuates. However, relying on which flight you redeem them for and the way effectively you optimize your journey, you’ll be able to reap as a lot as $0.02 to $0.04 per level, particularly on enterprise class flights. The best transfers can enhance your rewards values.
Transfers don’t simply apply to airways. You may switch both Membership Rewards to lodge companions together with Marriott Bonvoy and Hilton Honors. Level values and switch ratio fluctuate by program, so do you might have to do some math to seek out out what’s the easiest deal for you.
Assertion credit
For those who’d fairly spend factors in your on a regular basis buys, you’ll be able to. Though the worth for factors right here is not so good as with the journey rewards. When utilizing an announcement credit score, 1,000 factors equals $7 (which is $0.007 per level). It’s your decision to stay with a money again bank card as an alternative of a journey rewards card, since money rewards playing cards provide redemptions values on on a regular basis spends and credit.
Present playing cards and merchandise
For those who simply need to money in your factors for a present card or merchandise, with American Categorical Membership Rewards you are able to do that. The values on merchandise fluctuate dramatically. So, getting an excellent deal might, once more, take a little bit of math. You may count on round $0.0075 per level on present playing cards.
Amex acceptance in Canada: Is it actually a problem?
For those who learn up on American Categorical playing cards, you’ll discover warning about limitations round how broadly accepted these playing cards are. It’s true Mastercard and Visa playing cards may be tapped at extra locations, particularly outdoors of North America. However the stigma round American Categorical could also be a bit overblown.
American Categorical is accepted at greater than 96,000 locations throughout Canada, together with most dept and massive field shops like The Bay, Walmart, Canadian Tire, Residence Depot amongst others. It’s additionally accepted at 1000’s of eating places and cafés, together with a lot of quick meals and chain eating places, in addition to meals supply apps. Metro and Sobeys grocery shops settle for American Categorical, however Costco and Loblaw-banner shops don’t. Consumers Drug Mart, some impartial eating places and several other smaller mom-and-pop outlets don’t take American Categorical both.
The place does this depart you?
Moderately than forgoing the precious rewards and perks discovered with many American Categorical playing cards, our recommendation is to hold no less than two playing cards with you. Convey your American Categorical together with one other no-fee Visa or Mastercard, simply in case.