American Categorical bank cards provide a number of 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 price and low curiosity.
Greatest American Categorical bank cards in Canada
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Greatest money again Amex card
SimplyCash Most popular 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 stability 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 overseas transaction charges.
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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.
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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 price.
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Curiosity Charges:
21.99% buy, 21.99% money advance, N/A stability 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.
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 keep scrolling for our editors’ prime picks.
MoneySense award winners
Take a look at the professionals and cons of our prime 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 popular is among the best cash back credit cards in Canada, providing a beneficiant 4% money again on gasoline and groceries and a pair of% on all different purchases. There’s no earnings requirement, making it accessible to a variety of Canadians.
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Amex SimplyCash Most popular
Annual price: $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 (whole worth of as much as $250).
Card particulars
| Rates of interest | 21.99% on purchases, 21.99% on money advances |
| Earnings required | None specified |
| Credit score rating | 725 or increased |
Gold: Greatest American Categorical journey bank card
At a look: The Scotiabank Gold American Categorical is king among the many best travel credit cards in Canada, due to its spectacular rewards program, complete insurance coverage package deal and suite of journey perks, together with no foreign transaction fees. With a beneficiant welcome bonus and a versatile redemption course of to make use of factors for journey and different purchases, it’s good for frequent travellers.
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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. Supply ends Dec. 31, 2024.
Card particulars
| Rates of interest | 20.99% on purchases, 22.99% on money advances, 22.99% on stability transfers |
| Earnings required | $12,000 per 12 months |
| Credit score rating | 725 or increased |
| 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 fee of the American Categorical Cobalt, notably within the standard meals class, makes it a standout bank card for individuals who trip typically. For journey class—which incorporates rewards for flights, transit, gasoline and even rideshares purchases—gives a high-rate for incomes rewards.
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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 |
| Earnings required | None specified |
| Credit score rating | 725 or increased |
| Level worth | 1 Amex Membership Rewards level = $0.01 when redeemed with the Versatile Factors Journey Program, $0.015 on common with the Fastened 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 allows you to earn versatile Amex Membership Rewards factors that you may redeem for journey and money rewards—besides it has no annual price.
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American Categorical Inexperienced Card
Annual price: $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 |
| Earnings required | None specified |
| Credit score rating | 725 or increased |
| Level worth | 1 Amex Membership Rewards level = $0.01 when redeemed with the Versatile Factors Journey Program, $0.015 on common with the Fastened 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 wish to save on curiosity prices. And with a low annual price of $25, it’s an inexpensive possibility for managing on a regular basis bills.
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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 |
| Earnings required | $15,000 per 12 months |
| Credit score rating | 725 or increased |
About American Categorical Membership Rewards
American Categorical Membership Rewards is among the most precious and versatile rewards packages for bank cards in Canada. However to take advantage of 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 among 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’ll be able to redeem factors for purchases booked instantly from an outdoor airline, resort and/or journey company.
American Categorical Versatile Journey
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, automobile rental, trip packages and cruises. You’ll be able to redeem factors for journey in flat increments of 1,000 factors (price $10).
American Categorical Fastened Journey
In the event you’re seeking to maximize your factors worth and rating nice journey offers, you would possibly wish to use the Fastened Journey factors program. It means that you can redeem factors for round-trip flights out of Canada, based mostly on a regional rewards chart.
Level values differ relying on the flight and area you’re travelling to, with every area requiring a minimal variety of factors in trade for a most price tag. 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). Based on the rewards chart, you’ll want a minimal of 15,000 factors, which might cowl as much as a most $300 of a flight ticket’s base worth (not together with taxes). In the event you discover an airline ticket at $350 ($250 plus $100 in taxes), you would wish to redeem 15,000 factors and pay $350 (whole 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’ll 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 packages, typically at beneficial ratios. For instance, you may 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 may reap as a lot as $0.02 to $0.04 per level, particularly on enterprise class flights. The appropriate transfers can enhance your rewards values.
Transfers don’t simply apply to airways. You’ll be able to 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 might have to do some math to seek out out what’s the absolute best deal for you.
Assertion credit
In the event you’d relatively spend factors in your on a regular basis buys, you may. Though the worth for factors right here is inferior to 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 cash back credit 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.
Present playing cards and merchandise
In the event you simply wish 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 differ dramatically. So, getting an excellent deal might, once more, take a little bit of math. You’ll be able to count on round $0.0075 per level on present playing cards.
Amex acceptance in Canada: Is it actually a problem?
In the event you 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 might be tapped at extra locations, particularly exterior 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 large field shops like The Bay, Walmart, Canadian Tire, House 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 go away you?
Fairly than forgoing the dear rewards and perks discovered with many American Categorical playing cards, our recommendation is to hold at the least two playing cards with you. Convey your American Categorical together with one other no-fee Visa or Mastercard, simply in case.
