The most effective American Categorical bank cards in Canada for November 2023

• Annual charge: $0
• Rates of interest: purchases 20.99%, money advances 21.99% 
• Welcome provide: earn 10,000 Membership Rewards factors while you cost $1,000 in purchases to your card within the first three months of cardmembership.
• Earn fee: 1 level for each $1 spent on all purchases and 1 level for each $1 spent on resort or automobile bookings made on americanexpress.ca. 
• Revenue requirement: None
• Further advantages: Buy and fraud safety, emergency card alternative

Finest no-fee money again Amex card

SimplyCash Card from American Categorical*

A few of us simply don’t have room within the finances for bills like annual charges, which is why chances are you’ll contemplate American Categorical’s SimplyCash bank card. However simply since you’re not paying a charge on your card doesn’t imply you shouldn’t be rewarded for utilizing it. SimplyCash is likely one of the highest-earning no-fee bank cards in Canada, providing 2% money again on fuel and grocery purchases and 1.25% again on each different greenback you spend. That is significantly spectacular when you think about that the majority different no-fee rewards playing cards solely provide 0.5% again on the vast majority of on a regular basis purchases. Nonetheless, the one disadvantage is the restricted timing in terms of rewards: You possibly can solely redeem as soon as per calendar 12 months in September. 

• Annual charge: $0
• Rates of interest: purchases 20.99%, money advances 21.99%
• Welcome provide: earn a $10 assertion credit score for every month-to-month billing interval by which you make not less than $300 in purchases (for a complete worth of as much as $100).
• Earn fee: 2% money again on eligible fuel and grocery purchases as much as $300 yearly; 1.25% money again on all the things else.
• Revenue requirement: None
• Further advantages: Journey and procuring insurance coverage; entry to digital occasions and particular presents with American Categorical Experiences

Finest Amex card for factors optimizers

American Categorical Gold Rewards Card*

Just like the Platinum Card by American Categorical above, the American Categorical Gold Rewards bank card earns Membership Rewards factors. And this card is king for flexibility, too. With loads of switch choices, it’s a straightforward alternative for the seasoned factors optimizer who cares about maximizing values over simplicity. You possibly can switch your factors to different journey packages, together with Aeroplan, British Airways Avios, Marriott Bonvoy and others, usually at beneficial switch ratios. Make the best switch and you may get a giant enhance in your rewards worth. For instance, you possibly can commerce 1 Membership Rewards level for 1 Aeroplan level, which might then be redeemed for max worth, relying on the flight. 

• Annual charge: $250
• Rates of interest: purchases 20.99%, money advances 21.99%
• Welcome provide: You possibly can earn as much as 60,000 Membership Rewards factors.
• Earn fee: 2 factors for each $1 on eligible journey purchases, together with flights, lodges, automobile leases, and cruises, 2 factors for each $1 on fuel, groceries and drugstore purchases and 1 level for each $1 on all the things else
• Revenue requirement: None
• Further advantages: Obtain a $50 assertion credit score when a NEXUS utility (or renewal charge) is charged to your card. You additionally get a $100 journey credit score to make use of towards any journey reserving, $100 or extra, charged in your card by way of American Categorical Journey On-line. Plus, you possibly can enroll for a free membership for the airport lounge program Precedence Cross, airport lounge program.

Finest low-interest Amex card

American Categorical Important Card*

There are occasions when sudden further bills—leaky roof, sick canine, these boots you informed your self you weren’t going to purchase—make us depend on our bank card a bit extra. And that’s when paying off the total steadiness on the finish of the month isn’t at all times inside finances. It’d take just a few billing cycles to get again within the black, and within the meantime, the curiosity on these excellent funds will be… painful. The American Categorical Important Card takes away a few of that ache with its low rate of interest of 12.99%. Examine that with the 19.99% rate of interest of most different playing cards, and it’s clear that this distinction may quantity to vital financial savings for anybody who struggles to repay their card infrequently. As nicely, in contrast to different low-interest bank cards, the Important comes with no annual charge. Bonus: This low rate of interest additionally applies to money advances, a reassuring choice to have for these conditions while you’re in a pinch and wish money pronto.  

• Annual charge: $25
• Rates of interest: purchases 12.99%, money advances 12.99%, % on steadiness transfers
• Revenue requirement: $15,000
• Further advantages: Journey and procuring insurance coverage; American Categorical Invitations; Plan It—The American Categorical Installment Program
• Notice: When you don’t make your minimal month-to-month funds on time, the acquisition rate of interest ranges from to 24.99%—26.99%

Finest premium Amex card

American Categorical The Platinum Card*

When you like status, The Platinum Card is for you. That is one among Amex’s premium choices—which implies it comes with a hefty annual charge ($799), however sufficient perks to make it well worth the funding. With an earn fee of triple the factors on eating out in comparison with different playing cards, and double on journey, you’ll be racking up rewards each time you order in, fill the fuel tank, do the weekly grocery store and extra. The choices for redeeming factors are various: Put them towards flights or resort, with each 1,000 factors equalling $10, through the Versatile Factors Journey program; utilizing the Mounted Factors Journey program’s journey chart to get doubtlessly extra worth out of them; switch them to frequent-flyer or hotel-loyalty packages; and even redeem them within the type of reward playing cards at premium retailers like Holt Renfrew. 

The Platinum Card, as one would possibly count on, comes with some severe advantages. It entitles its holder to American Categorical Platinum concierge companies, a $200 journey credit score that’s renewed annually and—maybe the holy grail for frequent flyers—airport lounge entry. You’ll have the ability to make the most of Amex’s extremely coveted Centurion lounges in addition to greater than 1,300 Precedence Cross lounges around the globe, making layovers—and even flight delays—an entire lot extra bearable. And the welcome bonus is an effective one, too. However, possibly the good factor about this card: It’s manufactured from steel as an alternative of the same old plastic. This luxe element, nevertheless, might make you need to flash your card extra usually. (Take into account your self warned.)

• Annual charge: $799
• Rates of interest: n/a
• Welcome provide: You possibly can earn as much as 100,000 rewards factors ($1,000 worth).
• Earn fee: 2 factors per $1 on eating and meals supply; 2 factors per $1 spent on journey; 1 level per $1 on all the things else
• Revenue requirement: None (only a good-to-excellent credit score rating score)
• Further advantages: Journey and procuring insurance coverage; American Categorical Invitations; Advantageous Accommodations & Resorts unique advantages; computerized Elite standing in a number of resort packages; advantages at Toronto Pearson airport, similar to priority-security-lane entry and complimentary valet service  

Finest Amex card for groceries

American Categorical Cobalt Card*

When you’re attempting to offset excessive grocery and meals prices, then the Amex Cobalt is a card to contemplate. You’ll earn 5 factors for each $1 spent on all foods and drinks purchases and 1 level for $1 spent in all places else. You can even earn 2,500 factors each month while you spend $500 on the cardboard inside the first 12 months—including as much as a beneficiant 30,000 factors (value round $300, however the worth of the factors do change over time). You need to use rewards factors to pay for groceries and virtually anything. To search out out which grocery shops and companies take Amex factors see their useful map.

This card additionally offers you entry to unique meals festivals and eating places throughout Canada.

• Annual charge: $156
• Rates of interest: purchases 20.99%, money advances 21.99%
• Welcome provide: earn 2,500 factors for every month you spend $500, as much as a most of 30,000 factors.
• Earn fee: 5 factors per $1 spent on meals (together with groceries, eating places and meals supply); 2 factors per $1 spent on journey, transit and fuel; 1 level per $1 spent in all places else
• Revenue requirement: None
• Further advantages: Journey and procuring insurance coverage; American Categorical Experiences

Should-know information American Membership Rewards factors—and factors values

American Categorical Membership Rewards is likely one of the most respected and versatile rewards packages in Canada. However to profit from it, it’s necessary to grasp how the factors work and the way a lot factors are value. 

American Categorical factors are available two varieties: Membership Rewards (MR) and Membership Rewards Choose (MR Choose). 

You’ll earn MR factors with American Categorical Platinum. MR Choose factors are earned with the American Categorical Cobalt and the American Categorical Selection playing cards. Whereas each MR and MR Choose will be redeemed in quite a lot of methods, there are some slight variations between the 2 as coated under.  

Journey

Journey is likely one of the hottest methods to redeem any of American Categorical factors packages, partly due to the pliability. There are a number of methods to profit from your factors, and also you don’t want to make use of American Categorical’s in-house journey company. You possibly can redeem factors for purchases booked instantly from an out of doors airline, resort 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 value $0.01 in the direction of flights, resort stays, automobile rental, trip packages and cruises. You possibly can redeem factors for journey in flat increments of 1,000 factors, value $10. Each MR and MR Choose factors are eligible.

American Categorical Mounted Journey

When you’re seeking to maximize your factors worth and rating nice offers, you would possibly need to use the Mounted Journey factors program. Right here, you redeem factors for round-trip flights out of Canada, primarily based on a regional rewards chart. Each MR and MR Choose factors are eligible.

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 ticket 

For instance, let’s say you’re flying from Toronto to Montreal (a short-haul flight inside Canada).

• In line with 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 value (not together with taxes). 
• When you discover a ticket that prices $350 ($250 plus $100 in taxes)you’ll redeem 15,000 factors and pay $350 (whole value of the ticket). 
• Then, American Categorical would refund you $250—the bottom value 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 larger 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 factors is the flexibility to switch your factors to 6 completely different frequent flyer packages, usually at beneficial ratios. For instance, you possibly can switch 1,000 Membership Rewards factors for 1,000 Aeroplan Factors at a 1:1 ratio. The worth of Aeroplan Factors fluctuates. However, relying on which flight you redeem them for and the way nicely you optimize your journey, you possibly can reap as a lot as $0.02 to $0.04 per level, particularly on enterprise class flights. The proper transfers can enhance your rewards values. Remember that Membership Rewards Choose factors can’t be transferred to airline companions.

Transfers don’t solely apply to airways. You possibly can switch both Membership Rewards and Membership Rewards Choose factors to resort companions together with Marriott Bonvoy and Hilton Honors. Level values and switch ratio fluctuate by program, so do the mathematics to get the easiest deal. 

Assertion credit

When you’d relatively spend factors in your on a regular basis card purchases, you are able to do that, too, although the worth is not so good as with journey. When utilizing a press release credit score, 1,000 factors equals $7 (which is $0.007 per level). When you discover you like rewards to avoid wasting on on a regular basis purchases usually, your finest wager is to stay with a money again bank card as an alternative of a journey rewards card since they provide redemptions values on on a regular basis purchases.

Reward playing cards and merchandise

Typically you simply need to money in your factors for a present card or merchandise—and with American Categorical Membership Rewards you are able to do that, too. The values on merchandise range dramatically, so getting a deal might take a little bit of math, however you possibly can count on round $0.0075 per level on reward playing cards.

Amex acceptance–is it actually a difficulty?

When you learn up on American Categorical playing cards, you’re going to note that they carry a warning about how extensively accepted they’re. It’s true Mastercard and Visa can be utilized at extra locations, however the stigma round American Categorical could also be barely overblown. 

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, and House Depot, in addition to hundreds of eating places and cafes, 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 Loblaws shops don’t. Buyers Drug Mart, some impartial eating places and several other smaller mom-and-pop retailers don’t take American Categorical. 

The place does this depart you? Fairly than forgoing the precious rewards and perks discovered with many American Categorical playing cards, our recommendation is to hold not less than two playing cards with you. Carry your American Categorical together with one other no-fee Visa or Mastercard, simply in case.

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