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Few credit card companies provide exclusivity like American Express. An American Express credit card in hand transports you to a different league. Cardholders benefit from premium travel experiences, incredible live events, and exquisite fine dining experiences.

American Express is both a network and a credit card provider. Although American Express credit cards aren’t as widely accepted as Mastercard and Visa, the perks make up for it. You’ll not only benefit from world-class travel perks but also their unique rewards program.

Types of American Express Credit Cards

American Express offers 20 credit cards, six of which aren't attached to external partners. They also offer business credit cards and co-branded credit cards linked to their partners. As for their rewards credit cards, they provide cashback cards and flexible rewards cards.

American Express Credit Card Perks

It’s no secret that American Express credit cards have generous benefits. The welcome bonuses are lucrative, with new Platinum cardholders earning up to 110,000 points. You’ll also benefit from insurance packages containing:

• Hotel burglary coverage
• Out of province/country emergency medical coverage
• Flight and baggage delay coverage
• Travel accident coverage
• Car rental theft and damage coverage
• Purchase protection
• Extended warranty

Most American Express credit cards have premium perks beyond insurance and points. This includes Front Of The Line® Presale & Reserved Tickets with American Express® Experiences. You can easily book tickets for special live events worldwide

 with this service.

Through the American Express Fixed Points Travel Program, a travel ticket booking service is available to Cobalt cardholders. Platinum cardholders have access to the American Express concierge service 24/7 to make reservations at restaurants and more. Besides these perks, American Express offers an exciting rewards program.

American Express Reward Program

The American Express Membership Rewards program is available to both top-tier and entry-level credit cards. You can earn these rewards with each credit card:

• SimplyCash: 1.25% to 2% cashback, depending on the SimplyCash card. Cashback earned will be credited to your account annually.
• Cobalt: 5 points per $1 spent on food and drink purchases and 3 points per $1 spent on streaming services. You’ll also receive 2 points per $1 spent on travel, gas, and transit, and 1 point for every $1 spent on all other purchases.
• Gold: 2 points per dollar spent on eligible groceries, gas, travel, and drugstore purchases in Canada. Also, you get 1 point for all other purchases.
• Platinum: 3 points on eligible dining and 2 points on eligible travel purchases. You’ll also receive a $200 travel credit annually.

You can redeem the points you earn for travel-related purchases, including hotel stays, car rentals, flights, and vacation packages. Besides travel, you can redeem points for gift cards, statement credits, transfers to other loyalty programs, and charity donations.

Pros and Cons of American Express Credit Cards

Being an American Express credit card holder can be delightful, but there are some disadvantages. Consider the following benefits and drawbacks of American Express credit cards.

The Pros of American Express Credit Cards

• Generous welcome bonuses. Getting a new American Express credit card rewards you from the get-go.
• Amazing perks. The benefits of being an American Express credit cardholder will have you travelling in style. Also, you will have great insurance and premium access to several experiences.
• No income requirements. Your income won’t get in the way of being approved for an American Express credit card. All credit cards don’t have income requirements.

The Cons of American Express Credit Cards

• Not widely accepted. You won’t be able to pay for purchases with your American Express credit card at some retailers, including Loblaws and Costco.
• High annual fees. Some American Express credit cards have annual fees as high as $699.