The best American Express credit cards in Canada for 2023
May 17, 2023
Explore the best variety of American Express credit cards, tailored to meet your unique needs. Compare, choose, and apply today for a card that matches your purchasing habits.
Find Canadaās best American Express credit cards suited for you in 60 seconds! View cards and exclusive offers youāre likely to qualify for without affecting your credit or needing a SIN
Unlock exclusive gift cards while they last
Compare Canada's best American Express credit cards
Why use CardFinder
CardFinder has no impact on your credit score, no SIN required
Industry-standard protection
Match with cards you're most likely to qualify for
Your information is encrypted & never shared
Ratehub's top credit card picks
American Express CobaltĀ® Card
check eligibilityApply now and you could earn up to 30,000 bonus points with the American Express CobaltĀ® Card
Tangerine Money-Back Credit Card
check eligibilityEarn an extra 10% back on up to $1,000 in everyday purchases within the first 2 months. Must apply by July 5, 2023. Click "check eligibility" to get an additional $100 Amazon gift card š upon approval.
CIBC DividendĀ® Visa Infinite* Card
check eligibilityWelcome Offer: Get a first-year annual fee rebate and earn 15% cash back welcome bonus of up to $300 (first 4 statements)!ā
CIBC DividendĀ® Visa Infinite* Card
check eligibilityWelcome Offer: Get a first-year annual fee rebate and earn 15% cash back welcome bonus of up to $300 (first 4 statements)!ā
Featured product
check eligibilityEarn 25,000 points* ($125 travel value) if you spend $1,000 in the first 180 days. Must apply by February 28, 2023. Conditions apply.
BMO CashBackĀ® MasterCardĀ®*
check eligibilityWelcome offer:Ā Get up to 5% cash back in your first 3 months. Plus, a $50 cash back bonus - that's up to $175 in cash back in your first year!
American Express CobaltĀ® Card
check eligibilityApply now and you could earn up to 30,000 bonus points with the American Express CobaltĀ® Card
ScotiabankĀ®* Gold American ExpressĀ® Card
check eligibilityearn up to $650 in value in the first 12 months, including up to 40,000 bonus Scene+ points. Must apply by October 31, 2023.
TDĀ® AeroplanĀ® Visa Infinite* Card
check eligibilityOffer expires May 28, 2023: Earn up to 55,000 Aeroplan points. Plus, first year no annual fee. Conditions apply.
CIBC Select Visa* Card
check eligibilityTransfer your credit card balance. Get 0% interest for up to 10 months with a 1% transfer fee and a first year annual fee rebate.
BMOĀ® Preferred Rate MasterCardĀ®
check eligibilityWelcome Offer: Get a 0.99% introductory interest rate on Balance Transfers for 9 months with a 2% transfer fee and we'll waive the $29 annual fee for the first year
MBNA True LineĀ® MastercardĀ® credit card
check eligibilityStandard Annual Interest Rates of 12.99% on purchases, 12.99% on balance transfers and 24.99% on cash advances
SimplyCashĀ® Card from American Express
check eligibilityIn your first 10 months as a new SimplyCashĀ® Card from American Express Cardmember, you can earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases on your Card. This could add up to $100 in statement credits in the first 10 months
BMO CashBackĀ® MasterCardĀ®*
check eligibilityWelcome offer:Ā Get up to 5% cash back in your first 3 months. Plus, a $50 cash back bonus - that's up to $175 in cash back in your first year!
PC FinancialĀ® World Elite MastercardĀ®
check eligibilityLimited time offer: Get 1,500 AIR MILES Bonus Miles!* Thatās enough for $150 towards purchases with AIR MILES Cash*
Find your perfect credit card in under 60 seconds - No SIN required
Tell us a bit about yourself
Answer some questions so we can personalize our recommendations - this won't impact your credit score
Check your eligibility
We confirm your eligibility with our partner, TransUnion. This will be a āsoft credit checkā which you can see but lenders cannot
Find your perfect matches
We show you the cards youāre most likely to want and most likely to get
Ratehub staff
The best American Express credit cards in Canada for 2023
While American Express may be the smallest of the three major credit card companies in Canada (the others being Visa and Mastercard), itās also the only one to issue its own credit cards rather than rely on a bank or credit union.
When it comes to premium perks and top-notch rewards, American Express is virtually unmatched. Plus, more Canadian businesses are accepting AMEX cards than ever before, making it a great time to consider one. Letās look at our picks for the best American Express cards in Canada below.
Best overall American Express card
Ratehub.ca's take
What makes the American Express Cobalt arguably the best rewards card in Canada is its impressive array of bonus categories. Users can earn a whopping five points per dollar on groceries, restaurants, bars, and food deliveries, two points per dollar on transportation and travel, three times the points on eligible streaming subscriptions in Canada, and one point per dollar on everything else.
While the cardās annual fee is a little higher than average at $156, its manageable $12.99/month payment schedule makes it easy to handle. Plus, in your first year with the card, you can earn 2,500 points for each month you spend $500, up to a maximum of 30,000 points.
Outside of its generous welcome offer and point values, the American Express Cobalt also provides flexible point redemption options for travellers.
Users have the choice to either:
- redeem points for hotel stays or flights on virtually any airline at a flat rate of $10 per 1000 (1 cent per point)
- use AMEXās Fixed Points Travel Program to get special redemption rates and potentially earn up to 50%-75% more point value on round trip flights out of Canada
- transfer points to select hotel partners like Marriott Bonvoy
- use the Pay with Points program to use your points for regular card purchases like gas and groceries
- transfer points 1:1 to several frequent flyer and other loyalty programs
It also won't cost you extra to add authorized users, meaning you'll avoid annual fees should you have to share the account with a loved one.
The American Express Cobalt also provides a wide variety of insurance benefits, including:
- travel emergency medical ($5 million for 15 days)
- travel accident ($500,000), $500
- flight interruption
- baggage loss/delay
- car rental collision/loss damage waiver for vehicles up to $85,000
Also, as with many other Amex cards, users get access to ticket presales and reserved seats for concerts, movie screenings, and culinary events, along with other special offers.
Pros
- Earn 5x points per dollar on groceries, restaurants, bars, and food deliveries (one of the best earn rates in Canada for this category), 2x points on transportation and travel, 3x points on eligible streaming subscriptions in Canada
- Welcome offer - earn 2,500 points for each month you spend $500, up to a maximum of 30,000 points.
- Very flexible point redemption options - use Fixed Points Travel Program for flights/hotels, or Pay with Points program for everyday purchases like gas and groceries
- Ability to transfer points 1:1 to several frequent flyer programs, earning you even more
- No cost for additional users
- Comprehensive travel insurance
Cons
- Annual fee of $156 is higher than average (but is paid monthly)
Best cash back American Express card
Ratehub.ca's take
Offering no annual fee, a generous welcome bonus, and no limit to the amount of cash back you can earn, the American Express SimplyCash card should catch the eye of anyone looking for a solid flat-rate cash back card with a few extra perks.
New users who apply for the card are able to earn a $10 statement credit for each monthly billing period in which you make at least $300 in purchases (for a total value of up to $100). Thereās also no annual fee for additional cardholders, so you can earn even more by adding extra users to your account. And, if you have a friend or family member who would rather have their own card, a successful referral will net you an additional $750 in cash back.
While the American Express SimplyCash comes with the standard purchase protection and buyerās assurance coverage typical to cards of this type, it has one feature that makes it stand out among competitors: $100,000 travel accident insurance - a rarity among non-travel cards with no annual fee.
Pros
- No annual fee for primary or additional cardholders
- Welcome bonus - earn a $10 statement credit for each monthly billing period in which you make at least $300 in purchases (for a total value of up to $100).
- Earn an extra $750 cash back for a successful referral - a huge bonus when you combine it with the potential earnings of the welcome offer
- Features $100,000 in travel accident insurance - a rarity among non-travel no-fee cards
Cons
- The cardās standard earn rate of 1.25% isnāt particularly compelling when stacked up against some other no-fee cash back cards
- Not a lot of redemption flexibility - cash back can only be applied once a year as a statement credit
Best no-fee American Express card
Ratehub.ca's take
The American Express Green Card takes our prize for best no-fee American Express card due to its healthy welcome bonus, point accelerator for travel purchases, and redemption flexibility.
New cardholders can earn 10,000 Membership Rewards points when you charge $1,000 in purchases to your card in the first three months of cardmembership. After that, youāll get a standard earn rate of one point per dollar, but you can double that when you book travel expenses through American Express Travel.
Another great feature of this card is how many redemption options youāre given. Users can choose to cash in their points on travel (booked on American Express Travel Online through the Flexible Points Travel Program), gift cards and merchandise through Membership Rewards, groceries and other everyday purchases through Pay with Points, or eligible purchases at Amazon.ca. Not only that, but you can also transfer your points to travel loyalty programs such as Aeroplan and Marriott Bonvoy.
And, of course, American Express Green Card users will also enjoy the same benefits as all AMEX cardholders: Front of the Line presales and reserved tickets as well as American Express Experiences ranging from entertainment, dining, and retail.
Pros
- No annual fee
- Welcome bonus - earn 10,000 Membership Rewards points when you charge $1,000 in purchases to your card in the first three months of cardmembership.
- Opportunity to effectively double your points when booking travel through American Express Travel
- Flexible redemption options: travel, gift cards/merchandise, everyday purchases, Amazon.ca
- Transfer your points to loyalty programs like Aeroplan and Marriott Bonvoy
Cons
- Standard earn rate of one point per dollar isnāt particularly competitive with other no fee rewards cards
- Fairly lean insurance package extended warranty and purchase protection only. If youāre interested in more comprehensive coverage, other no fee cards offer more in this area.
Best American Express travel card
Ratehub.ca's take
If youāre an American Express fan looking for a flexible travel card with a great welcome bonus, the American Express Gold Rewards Card should be on your radar.
The card offers a respectable two points per dollar spent at eligible gas stations, drug and grocery stores in Canada. You'll also earn two points per dollar on eligible travel purchases (flights, hotels, car rentals, cruises, and more). Outside of that, you'll earn one point per dollar spent in all other categories.To redeem points, simply log in to your account for a statement credit.
One excellent feature of the American Express Gold Rewards card is its generous signup offer - earn up to 60,000 Membership Rewards points.
Another thing that makes the American Express membership rewards points so appealing is the fact that you can transfer them to Aeroplan and Avios on a 1:1 basis. Points can also be transferred to other programs, including but not limited to the Starwood Preferred Guest, Asia Miles, and Delta SkyMiles programs. Plus, American Express points donāt expire, so you can transfer your points only when you need to. While travelling abroad, there's certainly no shortage of perks with the American Express Gold Rewards card.
You'll also be treated to complimentary membership in Priority Pass⢠ā one of the worldās largest independent airport lounge programs. Enjoy complimentary refreshments and WiFi as you wait for your flight in a quiet, spacious atmosphere. In addition to that, youāll get to enjoy four complimentary visits per calendar year to Plaza Premium Lounges across Canada. Enrollment is required and entry fees apply. Plus, the card comes with a thorough travel insurance package, covering you in case of out of province/country emergency medical, trip cancellation/interruption, flight delay, and more.
As an added bonus for frequent travellers to the U.S., you'll also receive a $50 CAD statement credit when a NEXUS application or renewal fee is charged to your American Express Gold Rewards Card.
Pros
- 2x points per dollar spent at eligible gas stations, drug and grocery stores in Canada, and eligible travel purchases (flights, hotels, car rentals, cruises, and more)
- Welcome bonus - earn up to 60,000 Membership Rewards points.
- One free additional Gold Rewards card (a $50 value) - allowing you to earn more even faster
- $100 CAD annual travel credit - offsetting the cardās annual fee
- Transfer points 1:1 to a number of different loyalty programs (Aeroplan, Avios, etc.)
- Complimentary Priority Pass⢠membership granting you access to a wide network of airport lounges worldwide
- Extensive travel insurance package
- $50 CAD NEXUS statement credit
Cons
- Annual fee of $250 may be prohibitive to some users
Best American Express low interest card
Ratehub.ca's take
The American Express Essential card is great credit card option for those looking for a credit card with a low interest rate and the additional benefits and perks that come with American Express, such as Front-of-the-Line Experience, special offers, conceirge services, etc. The card has no annual fee and offers a competitive interest rate on purchases and balance transfers (12.99%).
Pros
- Access to presale tickets, exclusive events, and curated dining and entertainment experiences
- No annual fee and low annual income requirement ($15,000), making it readily accessible
- Allows cardholder to pay off larger purchases in instalments for a fixed monthly fee through Plan It
Cons
- Welcome offer - None
Best American Express business card
Ratehub.ca' take
The American Express Business Edge Card should be any small business owner's credit card of choice to earn great rewards on monthly office expenses and streamline their expenses. This card offers a simple and flexible rewards program, with regards earned on all purchases and no restrictions on how rewards can be redeemed. Here are some additional features you can expect with this card:
- Generous welcome offer - earn up to 67,000 welcome bonus Membership Rewards points.
- Healthy earn rate on everyday business spending
- Access to exclusive business benefits, including travel insurance, purchase protection and savings on office supplies
- A maximum of 99 additional employee cards can be added to the primary cardholder account, which is considerably higher than other business credit cards
Cons
- American Express is accepted at many but not all retailers; Visa and Mastercard are more readily accepted
Best American Express premium card
Ratehub.ca take
When it comes to extra perks, the American Express Platinum Card is in a class all its own and is very easily classified as the best premium credit card in Canada. While its annual fee isn't cheap, the American Express Platinum Card offers all the bells and whistles and benefits that make it worthwhile making it a travelerās dream credit card. The perks offered with this card include:
- Very lucrative welcome bonus - earn up to 80,000 rewards points ($800 value).
- High earn rate on dining and travel purchases
- No minimum income requirement - a rarity for a card of this caliber
- Complimentary airport lounge access with unlimited passes to Priority Pass and Centurion lounges
- Dedicated 24/7 concierge service
- Annual $200 travel credit
- Best in class travel insurance coverage and VIP benefits at Toronto Pearson Airport including access to Pearson Priority Security Lane, free valet parking (usually a $25 fee), and 15% discount on parking as a statement credit
- Upgraded gold hotel status with Marriott Bonvoy, Radisson Rewards and Hilton Honors and car rental privileges with Hertz and Avis
- Transfer point 1:1 to several frequent flyer programs
Cons
- $699 annual fee is very steep and could pose a barrier to some cardholders
Cards summary (+/-)
Looking for a new credit card?
Our guide to American Express credit cards
American Express Membership Rewards points
The American Express Membership Rewards points program is often touted as the best in Canada due to its great value and flexible redemption options.
Depending on if you go for the American Express Cobalt, Gold or Platinum cards, the rewards points you earn can be redeemed for any number of things:
- Flexible Points Travel Program: lets you redeem points for virtually any travel expense (including flights, hotel stays, vacation packages, and car rentals) in flat increments of 1,000 points for $10. You can charge the travel expense to your credit card and apply points against the purchase retroactively at a later date to offset the cost.
- American Express Cobalt, Gold or Platinum cards are all eligible
- Fixed Points Travel Program: lets you redeem points for only round-trip flights out of Canada according to a chart. This chart breaks up potential travel destinations into six regions - each requiring a set number of points (i.e. 60,000 points for a flight to Europe or 100,000 points for a flight to the middle east). While slightly less intuitive than the aforementioned Flexible Points Travel Program, you can get far greater value (anywhere from 1.75 cents to 2 cents per point) provided you book the right flight and utilize the chart to your advantage.
- American Express Cobalt, Gold or Platinum cards are all eligible
- Airline Transfers: With this option, you can transfer your points (often at a 1:1 ratio) to a number of frequent flyer programs including Aeroplan and British Airways Avios. Done right, these transfers can help open up the door to even more opportunities to maximize your points values by leveraging the power of other loyalty programs - not just Amex's own program.
- Gold or Platinum cards are eligible (the American Express Cobalt is not)
- Gold or Platinum cards are eligible (the American Express Cobalt is not)
- Hotel Transfers: Similar to airline loyalty program transfers, you can transfer the points you earn on your American Express card to either the Marriott Bonvoy or Hilton Honours programs.
- American Express Cobalt, Gold or Platinum are all eligible
- American Express Cobalt, Gold or Platinum are all eligible
- Other rewards (American Express Cobalt, Gold or Platinum are eligible)
- Ticketmaster: 2,000 points for $20 (1 cent per point)
- Gift cards: (varies but averages around 0.7-0.8 cents per point)
- Statement credits: 1,000 points for $7 (0.7 cents per point)
American Express credit card partnerships
American Express has always been fairly selective about who they team up with. American Expressās current credit card partnerships include:
- AIR MILES: Similarly, American Express also offers 3 AIR MILES credit cards: the American Express AIR MILES Card, American Express AIR MILES Platinum Card and American Express AIR MILES Reserve Card. Each card comes with a welcome bonus of some free AIR MILES (more as you move up the tiers) and helps you earn AIR MILES Rewards Miles.
- Marriott Bonvoy: The Marriott Bonvoy Credit Card from American Express comes with a welcome bonus of 50,000 free Bonvoy Points (3 free nights at eligible hotels) and is associated with the world's largest hotel chain. You will also earn 5 Bonvoy per $1 spent at Marriott International hotels (which encompasses over two dozen major hotel brands including Starwood Hotels, Ritz-Carlton, among others) and 2 points per $1 spent on all other purchases charged to the card.
- Scotiabank: Currently, Scotiabank is the only bank in Canada to offer American Express credit cards. One of the most popular American Express credit cards in Canada is the Scotiabank Gold American Express Card, which lets you earn up to 5x the points for every $1 spent at certain retailers. They also offer the Scotiabank American Express Card, which earns a flat 1 point for every $1 spent.
- Holt Renfrew: The Holt Renfrew Card from American Express (NOW DISCONTINUED) has no annual fee and lets you earn 1.4 Holt Renfrew Rewards Points for virtually every dollar you charge to the card at Holt Renfrew stores. You can also earn 1 Holt Renfrew Rewards Point for every dollar spent anywhere else, and will receive invitations to exclusive Holt Renfrew events.
American Express also used to be the only credit card company to have a partnership with Costco, until 2014 when that relationship ended and Costco decided to offer its members a Capital One Mastercard credit card instead.
Charge cards vs. Credit cards
American Express has the distinction of being the last major provider to offer charge cards and credit cards, and while they may seem similar enough on the outset, there are a few things that set each apart.
The main feature that separates the two is the ability to carry over a balance. While credit cards allow you to do this while accumulating interest, charge cards typically require you to pay off what you owe in full each month. Because of this, you wonāt incur compounding interest and debt the way you would with a credit card. Another benefit is that they donāt carry a pre-set spending limit the way credit cards do. This can allow you to make large-scale purchases as needed without worrying about maxing out your card and hurting your credit. It also wonāt affect your credit utilization ratio, as credit bureaus donāt take charge card balances into consideration during this calculation. Both can still help you build your credit, however.
That being said, donāt interpret this as a license to spend as much as you want on the card. Youāll still have a ceiling dictated by your card usage and credit history, among other things. Often youāll be able to check ahead to see if a purchase you intend to make will be approved by calling your provider or logging onto your online account.
So what happens if you donāt pay your charge cardās full balance on time? In cases like this, youāll be hit with a late fee, which can be just as damaging to your credit as non-payment of a credit card bill. The main difference here is that, with credit cards, youāre allowed to make a minimum payment to satisfy your bill each month. With charge cards, itās all or nothing. If you donāt pay in full, youāll be penalized.
Because of this, eligibility requirements for charge cards are often much stricter than for credit cards. While certain credit cards are designed for those with less-than-stellar credit, charge cards require a good-to-excellent score for approval.
If youāre interested in getting a charge card, American Express currently offers the Aeroplan Card.
American Express Front of the Line program
American Express Front of the Line is a perks and rewards program found on every American Express credit card, no matter the tier or annual fee. It allows members to get special access to presale tickets and reserved seating for major concerts and theatre events.
Reserved seating
When it comes to high-demand concerts, itās never fun having to click the refresh button over and over to secure good seats for you and your friends. With AMEX Front of the Line, however, entire blocks of seating are reserved specifically for members to purchase ahead of time. This way, youāre not competing with nearly as many other fans for coveted tickets, and you can get a better shot at the best seat in the house.
Ticket presales
With tickets to big-name concerts getting harder and harder to secure, access to presales is essential if you want to ensure you donāt miss out. AMEX Front of the Line ticket presales allow you to get in before the general onsale starts, giving you a much-needed head start.
Redeeming points for tickets
One great feature of this program is the ability to redeem your Membership Rewards points for event tickets through Ticketmaster.
Simply select the option āMembership Rewards Points from American Expressā as a payment method during checkout and enter your card information. You can use your points to pay for part of your tickets or the whole thing, depending on how much youāve collected, but there is a minimum usage of 2000 points.
Your card will get charged for the total cost, but a statement credit for the applied points will be applied to your account within 48 hours.
More on American Express
American Express (also known as Amex) is a multinational financial services corporation that offers a variety of credit cards, charge cards, travel insurance and travellerās cheques. While Amex cards are said to account for 24% of the total dollar volume of credit card transactions in the U.S., The Nilson Report showed that American Express held just 3.8% of the market share of purchase transactions made worldwide in 2013. American Express operates in more than 140 countries.
Natasha Macmillan, Business Director of Everyday Banking
With over a decade of experience in the finance industry, Natasha works closely with Canada's top financial institutions - from banks to credit unions - to help Ratehub.ca's 1,200,000 monthly users get matched with the right banking products. read more
The knowledge bank
A wealth of knowledge delivered right to your inbox.
About Ratehub.ca
Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.
When it comes to mortgages, Ratehub.ca is more than just a place to research and compare the best rates. Our goal is to give Canadians the best mortgage experience from online search to close. This means offering Canadians the mortgage tools, information and articles to educate themselves, allowing them to get personalized rate quotes from multiple lenders to compare rates instantly, and providing them with the best online application and offline customer service to close their mortgage all in one place.
Ratehub.ca has been named Canada's Mortgage Brokerage of the Year for four years straight (2018-2021). With over 12 years of mortgage experience, and over $11 billion in mortgages funded, we deliver you the best mortgage experience in Canada.
How does Ratehub.ca make money?
Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.