American Specific bank cards supply a number of the highest earn charges and most rewarding journey perks for bank cards in Canada. Right here, we break down the most effective Amex playing cards within the nation for money again, journey, no payment and low curiosity.
Greatest American Specific bank cards in Canada
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Greatest money again Amex card
SimplyCash Most popular Card from American Specific
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 steadiness switch
Welcome supply:
$250 worth
Earn a bonus 10% money again on all purchases to 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 Specific 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% steadiness switch
Welcome supply:
$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 Specific Inexperienced Card
Earn as much as 2 Membership Rewards factors on each buy with out paying an annual payment.
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Curiosity Charges:
21.99% buy, 21.99% money advance, N/A steadiness switch
Welcome supply:
$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.
Evaluate common American Specific bank cards
Evaluate your American Specific bank card choices with our interactive device and filter bank cards primarily based on rewards worth, annual charges, earnings necessities and extra. Use the device under to check bank card choices, or keep scrolling for our editors’ high picks.
MoneySense award winners
Take a look at the professionals and cons of our high American Specific card picks throughout the money again, journey, low-interest and different classes.
Greatest money again American Specific bank card
At a look: The American Specific SimplyCash Most popular is without doubt one of the best cash back credit cards in Canada, providing a beneficiant 4% money again on fuel 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 payment: $120
Welcome supply: Earn a bonus 10% money again on all purchases to 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 greater |
Gold: Greatest American Specific journey bank card
At a look: The Scotiabank Gold American Specific is king among the many best travel credit cards in Canada, because of its spectacular rewards program, complete insurance coverage bundle 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 excellent for frequent travellers.
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Scotiabank Gold American Specific
Annual payment: $120
Welcome supply: Earn as much as $780 in worth within the first 12 months, together with as much as 40,000 bonus Scene+ factors. Supply ends July 1, 2025.
Card particulars
| Rates of interest | 20.99% on purchases, 22.99% on money advances, 22.99% on steadiness transfers |
| Earnings required | $12,000 per yr |
| Credit score rating | 725 or greater |
| Level worth | 1 Scene+ level = $0.01 when redeemed for journey on any airline or resort (together with Airbnbs). |
Silver: Greatest American Specific journey bank card
At a look: The spectacular excessive earn charge of the American Specific Cobalt, notably within the common meals class, makes it a standout bank card for individuals who trip typically. For journey class—which incorporates rewards for flights, transit, fuel and even rideshares purchases—presents a high-rate for incomes rewards.
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American Specific Cobalt
Annual payment: $156
Welcome supply: 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 greater |
| 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 Specific bank card
At a look: Consider the American Specific 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 payment.
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American Specific Inexperienced Card
Annual payment: $0
Welcome supply: 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 greater |
| 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 Specific bank card
At a look: The American Specific Important Card is an efficient low-interest bank card for Canadians who wish to save on curiosity prices. And with a low annual payment of $25, it’s an reasonably priced possibility for managing on a regular basis bills.
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American Specific Important Card
Annual payment: $25
Rewards: Doesn’t supply rewards.
Welcome supply: None right now.
Card particulars
| Rates of interest | 12.99% on purchases and 12.99% on money advances |
| Earnings required | $15,000 per yr |
| Credit score rating | 725 or greater |
About American Specific Membership Rewards
American Specific Membership Rewards is without doubt one of the most beneficial and versatile rewards packages for bank cards in Canada. However to profit from it, it’s vital to grasp how Membership Rewards (MR) factors work and the way a lot MR factors are price.
Journey redemptions
Journey is without doubt one of the hottest methods to redeem any of American Specific factors packages, partly due to how versatile American Specific made it for cardholders. There are a number of methods to profit from your factors, and also you don’t want to make use of Amex’s in-house journey company. You possibly can redeem factors for purchases booked instantly from an out of doors airline, resort and/or journey company.
American Specific Versatile Journey
Probably 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 possibly can redeem factors for journey in flat increments of 1,000 factors (price $10).
American Specific Fastened Journey
In the event you’re trying 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, primarily based 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 ticket. And you’ll 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). In accordance with the rewards chart, you’ll want a minimal of 15,000 factors, which may 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 Specific would refund you $250—the bottom worth of the ticket, not together with taxes. Finally, you’d 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 Specific Rewards is the flexibility to switch your factors to 6 completely different frequent flyer packages, typically at beneficial ratios. For instance, you’ll be able to 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’ll be able to reap as a lot as $0.02 to $0.04 per level, particularly on enterprise class flights. The precise transfers can increase your rewards values.
Transfers don’t simply apply to airways. You possibly can 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’ll have to do some math to search out out what’s the easiest deal for you.
Assertion credit
In the event you’d relatively spend factors in your on a regular basis buys, you’ll be able to. Though the worth for factors right here is inferior to with the journey rewards. When utilizing an announcement 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 an alternative of a journey rewards card, since money rewards playing cards supply 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 Specific Membership Rewards you are able to do that. The values on merchandise differ dramatically. So, getting deal might, once more, take a little bit of math. You possibly can anticipate round $0.0075 per level on reward playing cards.
Amex acceptance in Canada: Is it actually a difficulty?
In the event you learn up on American Specific playing cards, you’ll discover warning about limitations round how extensively accepted these playing cards are. It’s true Mastercard and Visa playing cards could be tapped at extra locations, particularly outdoors of North America. However the stigma round American Specific could also be a bit overblown.
American Specific is accepted at greater than 96,000 locations throughout Canada, together with most dept and massive field shops like The Bay, Walmart, Canadian Tire, Dwelling Depot amongst others. It’s additionally accepted at hundreds 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 Specific, however Costco and Loblaw-banner shops don’t. Buyers Drug Mart, some unbiased eating places and several other smaller mom-and-pop retailers don’t take American Specific both.
The place does this go away you?
Slightly than forgoing the dear rewards and perks discovered with many American Specific playing cards, our recommendation is to hold a minimum of two playing cards with you. Carry your American Specific together with one other no-fee Visa or Mastercard, simply in case.