American Categorical bank cards provide among the highest earn charges and most rewarding journey perks for bank cards in Canada. Right here, we break down the very best Amex playing cards within the nation for money again, journey, no charge and low curiosity.
Greatest American Categorical bank cards in Canada
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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.
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Curiosity Charges:
21.99% buy, 21.99% money advance, N/A steadiness switch
Welcome provide:
$250 worth
Earn a bonus 10% money again on all purchases in your first 3 months (as much as $2,000 in purchases). Plus, earn a $50 assertion credit score if you make a purchase order in month 13. This might add as much as $250 in bonus worth in your first 13 months.
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Greatest Amex journey card
Scotiabank Gold American Categorical Card
Earn as much as 6 Scene+ factors per $1 spent and entry unbelievable journey perks, together with no international transaction charges.
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Curiosity Charges:
20.99% buy, 22.99% money advance, 22.99% steadiness 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.
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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 charge.
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Curiosity Charges:
21.99% buy, 21.99% money advance, N/A steadiness switch
Welcome provide:
$100 worth
Earn 10,000 Membership Rewards factors if you cost $1,000 in purchases to your card within the first three months of cardmembership.
Evaluate fashionable American Categorical bank cards
Evaluate your American Categorical bank card choices with our interactive software and filter bank cards primarily based on rewards worth, annual charges, revenue necessities and extra. Use the software beneath to match bank card choices, or hold scrolling for our editors’ high picks.
MoneySense award winners
Take a look at 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 finest money again bank cards in Canada, providing a beneficiant 4% money again on fuel and groceries and a couple of% on all different purchases. There’s no revenue requirement, making it accessible to a variety of Canadians.
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Amex SimplyCash Most well-liked
Annual charge: $120
Welcome provide: Earn a bonus 10% money again on all purchases in your first three months (as much as $2,000 in purchases) and a $50 assertion credit score if 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 larger |
Gold: Greatest American Categorical journey bank card
At a look: The Scotiabank Gold American Categorical is king among the many finest journey bank cards in Canada, due to its spectacular rewards program, complete insurance coverage bundle and suite of journey perks, together with no international 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.
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Scotiabank Gold American Categorical
Annual charge: $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. Supply ends Dec. 31, 2024.
Card particulars
| Rates of interest | 20.99% on purchases, 22.99% on money advances, 22.99% on steadiness transfers |
| Revenue required | $12,000 per yr |
| Credit score rating | 725 or larger |
| Level worth | 1 Scene+ level = $0.01 when redeemed for journey on any airline or resort (together with Airbnbs). |
Silver: Greatest American Categorical journey bank card
At a look: The spectacular excessive earn charge of the American Categorical Cobalt, notably within the fashionable 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—affords a high-rate for incomes rewards.Â
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American Categorical Cobalt
Annual charge: $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 larger |
| 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 enables you to earn versatile Amex Membership Rewards factors which you could redeem for journey and money rewards—besides it has no annual charge.
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American Categorical Inexperienced Card
Annual charge: $0
Welcome provide: earn 10,000 Membership Rewards factors if 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 larger |
| 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 effective low-interest bank card for Canadians who need to save on curiosity costs. And with a low annual charge of $25, it’s an inexpensive choice for managing on a regular basis bills.
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American Categorical Important Card
Annual charge: $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 yr |
| Credit score rating | 725 or larger |
About American Categorical Membership Rewards
American Categorical Membership Rewards is without doubt one of the most precious and versatile rewards packages for bank cards in Canada. However to take advantage of it, it’s essential to grasp 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 packages, partly due to how versatile American Categorical made it for cardholders. There are a number of methods to take advantage of 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 immediately from an outdoor airline, resort and/or journey company.
American Categorical Versatile JourneyÂ
Essentially the most simplified journey redemption comes from the Versatile Journey factors program, the place every level is price $0.01 in direction of flights, resort stays, automotive rental, trip packages and cruises. You may redeem factors for journey in flat increments of 1,000 factors (price $10).
American Categorical Mounted Journey
If you happen to’re trying to maximize your factors worth and rating nice journey offers, you would possibly need to use the Mounted Journey factors program. It means that you can redeem factors for round-trip flights out of Canada, primarily based on a regional rewards chart.
Level values range relying on the flight and area you’re travelling to, with every area requiring a minimal variety of factors in alternate for a most price tag. And you’ll 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 accordance 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 value (not together with taxes). If you happen to discover an airline ticket at $350 ($250 plus $100 in taxes), you would want to redeem 15,000 factors and pay $350 (complete value of the ticket). Then, American Categorical would refund you $250—the bottom value of the ticket, not together with taxes. Finally, you’d pay 15,000 factors plus $100 out of pocket for the $350 ticket, which works out to $0.0167 per level—far better 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 packages, 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 properly 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 fitting transfers can enhance your rewards values.
Transfers don’t simply apply to airways. You may switch both Membership Rewards to resort companions together with Marriott Bonvoy and Hilton Honors. Level values and switch ratio fluctuate by program, so do you’ll have to do some math to seek out out what’s the absolute best deal for you.Â
Assertion credit
If you happen to’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 a press release credit score, 1,000 factors equals $7 (which is $0.007 per level). You might have considered trying to stay with a money again bank card as a substitute of a journey rewards card, since money rewards playing cards provide redemptions values on on a regular basis spends and credit.
Reward playing cards and merchandise
If you happen to 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 range dramatically. So, getting 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 difficulty?
If you happen to 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 exterior of North America. However the stigma round American Categorical could also be a bit overblown.Â
American Categorical is accepted at greater than 96,000 locations throughout Canada, together with most office and large field shops like The Bay, Walmart, Canadian Tire, Dwelling Depot amongst others. It’s additionally accepted at hundreds 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. Customers Drug Mart, some impartial eating places and a number of other smaller mom-and-pop outlets don’t take American Categorical both.Â
The place does this go away you?
Fairly than forgoing the precious rewards and perks discovered with many American Categorical playing cards, our recommendation is to hold at the least two playing cards with you. Deliver your American Categorical together with one other no-fee Visa or Mastercard, simply in case.
