Compare the best American Express Credit Cards - Comparewise

Best American Express Credit Cards

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American Express

The American Express Business Platinum Card is a premium card for any...
  • $499
    Annual fee
  • $0
    Welcome Bonus
  • 1.25 pts
    Every $1 Spent
  • Min.Credit:
                        
  • Rating: no reviews
The American Express SimplyCash Preferred card is one of the best cashback...
  • $99
    Annual fee
  • $0
    Welcome Bonus
  • 10%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
The American Express Cobalt Card boasts 5 times the points for every $1...
  • $155.88
    Annual fee
  • $0
    Welcome Bonus
  • 5 pts
    Every $1 Spent
  • Min.Credit:
                        
  • Rating: no reviews
If there’s one thing that makes the American Express Aeroplan Card stand...
  • $120
    Annual fee
  • 10,000 pts
    Welcome Bonus
  • 1 pts
    Every $1 Spent
  • Min.Credit:
                        
  • Rating: no reviews
The American Express Platinum card boasts a wide range of features that...
  • $699
    Annual fee
  • 80,000 pts
    Welcome Bonus
  • 3 pts
    Every $1 Spent
  • Min.Credit:
                        
  • Rating: no reviews
No foreign transaction fees and high rewards on everyday purchases are a...
  • $120
    Annual fee
  • 25,000 pts
    Welcome Bonus
  • 5 pts
    Every $1 Spent
  • Min.Credit:
                        
  • Rating: no reviews

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AMEX Credit Cards

Few credit cards boast exclusivity as Amex credit cards do. American Express is the smallest of the three primary financial services companies in Canada, the others being Visa and Mastercard.

Besides acting as a payment processing network, Amex also delivers quality credit cards. As an Amex cardholder, you'll travel in style and benefit from premium perks and access to incredible live events.

Types of Amex Credit Cards

American Express offers a wide variety of credit cards for all kinds of consumers. There are twenty in total. Six are in their own name, while ten are business credit cards and the rest are co-branded. These are the Amex credit cards available:

  • Cashback
  • No annual fee
  • Flexible rewards
  • Travel
  • AIR MILES, Marriot Bonvoy, and Aeroplan
  • Small business
  • Corporate

Amex Credit Card Perks

Amex credit cards are often praised as the best in Canada for their great perks. From lucrative welcome bonuses to generous insurance, an Amex card in hand is a significant asset.

  • SimplyCash perks: Besides travel coverage, the SimplyCash credit cards give you access to American Express® Experiences. This allows you to reserve tickets easily and access Front Of The Line pre-sale tickets.
  • Cobalt perks: Comes with mobile and travel insurance, purchase protection, and buyer’s assurance protection. You can also benefit from Front Of The Line® Presale & Reserved Tickets with American Express® Experiences.
  • Gold perks: Enjoy pre-sale ticket access, hotel room upgrades, and car rental discounts. You’ll also receive a suite of travel insurance, including trip interruption, travel accident, and baggage delay coverage.
  • Platinum perks: Access to airport lounges and exceptional culinary experiences with the Global Lounge Collection and Global Dining Collection. You can also benefit from the American Express 24/7 Concierge Service, which takes the hassle out of making restaurant and flight reservations.

Aside from these perks, American Express has an enticing Membership Rewards program.

amex credit cards - comparewise

Amex Reward Program

Regardless of the Amex credit card, you settle on, you'll access the company's Membership Rewards program. The SimplyCash credit cards earn 1.25% to 2% cashback, with the Simply Preferred credit card earning the most.

With the Cobalt card, you’ll earn 5 points for food purchases, 3 points for streaming services, and 2 points for gas, travel, and transit. You’ll also get 1 point for every dollar spent on other purchases. This card offers the most points, making it a top choice amongst Canadians.

The Gold card earns you 2 points on grocery, gas, travel, and drugstore purchases in Canada. Everything else you purchase with your card earns you 1 point.

A platinum card earns you 3 points on eligible dining and 2 points on eligible travel expenses. Besides points, you’ll receive an annual statement credit of $200.

Amex Partnerships

Amex has partnerships with renowned loyalty programs that frequent travellers benefit from. This includes Aeroplan, AIR MILES, and Marriot Bonvoy. American Express offers co-branded credit cards for each loyalty program.

Pros and Cons of Amex Credit Cards

Now that you know what makes Amex credit cards popular let's look at the benefits and drawbacks of being a cardholder.

The Pros of AMEX Credit Cards

  • High earn rates. The average earn rate on almost all Amex credit cards is above 1%. The top-tier credit card has an average return of 4.5%.
  • Income doesn’t determine eligibility. Regardless of your income level, you can apply for an Amex credit card. Most available credit cards don’t have an income requirement.

The Cons of AMEX Credit Cards

  • Good credit is required. Each card has its own credit score requirement. To be approved for an Amex credit card, you'll need a credit score of 660 or more.
  • Not widely accepted. Compared to Mastercard and Visa credit cards, the Amex credit cards aren't widely accepted. This includes Costco, Loblaws, and other small retailers.

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March 17, 2022
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FAQs about
AMEX Credit Cards

Is It a Good Idea to Get an Amex Credit Card Since It Isn’t Accepted Everywhere?

The Amex credit card acceptance is a huge concern for several consumers. It’s inarguably true that Mastercard and Visa credit cards have the upper hand in this domain. However, you can’t wholly disqualify Amex credit cards.

You can still get plenty of use from your Amex credit card. The only stores that won’t accept your Amex card are Loblaws and Costco, which don’t accept Visa.

Amex card acceptance is constantly growing. However, if you want to avoid disrupting your shopping, pair your Amex card with a no-fee Visa or Mastercard.

What are the Common Amex Credit Card Perks?

While all Amex credit cards have unique perks, some benefits overlap. Most come with travel insurance, purchase protection, and an extended warranty. They also give cardholders access to Amex Experiences and Amex Offers.

What’s an Amex Charge Card?

These cards function like credit cards but have no pre-set credit limit. You also can’t carry a balance on a charge card, meaning you must pay it off every month.

What’s the Catch With Amex’s Superior Rewards?

Amex offers better rewards than other credit card providers do. The reason being it charges higher transaction fees than Visa and Mastercard.

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