Best Amex Cards: Comparison
| Card | Annual Fee | Earn Rate | Welcome Bonus | Best For |
|---|---|---|---|---|
| Amex Cobalt | $156/yr ($12.99/mo) | 5x food/drink, 2x transit/travel, 1x everything | 30,000 pts ($300+ value) | Best overall; foodies, young professionals |
| Amex Gold | $250/yr | 2x travel, 2x gas, 1x everything | 40,000 pts ($400+ value) | Frequent travellers |
| Amex Platinum | $799/yr | 3x travel, 2x dining, 1x everything | 80,000 pts ($800+ value) | Premium travellers; lounge access |
| SimplyCash Preferred | $99/yr | 2% on everything | $400 welcome bonus | Simple flat-rate cashback |
| SimplyCash (no fee) | $0 | 1.25% on everything | $100–$150 welcome bonus | No-fee cashback |
| Amex Aeroplan | $120/yr | 1.5x Aeroplan everywhere + category bonuses | Varies | Aeroplan members |
| Amex Business Gold | $199/yr | 3x on top spending category, 2x second, 1x everything | 40,000 pts | Small business owners |
| Amex Business Platinum | $599/yr | 2.5x travel, 1.5x everything | 80,000 pts | High-spending businesses; travel |
| Amex Business Edge | $99/yr ($0 first year) | 3x on top category, 2x on second, 1x everything | 30,000 pts | Small businesses, flexible rewards |
Amex Cobalt Card: Deep Dive
| Feature | Details |
|---|---|
| Annual fee | $156/yr ($12.99/mo) |
| Earn rate (food & drink) | 5x points (restaurants, bars, food delivery, groceries) |
| Earn rate (transit/travel) | 2x points |
| Earn rate (everything else) | 1x points |
| Point value (travel transfer) | ~1.5–2 cents/point |
| Point value (statement credit) | ~0.7 cents/point |
| Transfer partners | Aeroplan, British Airways, Marriott, Hilton, and 10+ more |
| Insurance | Purchase protection, extended warranty |
| Monthly bonus offers | Rotating bonus multipliers in Amex Offers |
| Annual value at $2,000/mo spend | ~$450–$600 in rewards |
Amex Platinum Card: Best Premium Card
| Perk | Value |
|---|---|
| Priority Pass lounge access (unlimited) | $400+/yr |
| $200 annual travel credit | $200 |
| Marriott Gold Elite status | $100+ value |
| Hilton Gold status | $100+ value |
| NEXUS application credit ($50) | $50 |
| Comprehensive travel insurance | $200+ value |
| Fine Hotels + Resorts benefits | Room upgrades, late checkout, breakfast |
| Total estimated annual perks | $1,000+ |
| Annual fee | $799 |
| Net value (if using all perks) | $200+ positive |
Amex Points: Redemption Values
| Redemption Method | Value Per Point | Best For |
|---|---|---|
| Transfer to Aeroplan | 1.5–2.0¢ | Best value: flight redemptions |
| Transfer to British Airways Avios | 1.5–2.5¢ | Short-haul flights |
| Transfer to Marriott Bonvoy | 0.8–1.2¢ | Hotel stays |
| Book travel via Amex Travel | 1.0¢ | Convenience |
| Statement credits | 0.7¢ | Worst value; avoid |
| Gift cards | 0.5–0.7¢ | Worst value; avoid |
Amex vs Visa/Mastercard
| Factor | American Express | Visa/Mastercard |
|---|---|---|
| Acceptance in Canada | ~85–90% of merchants | ~99%+ |
| Reward earn rates | Often higher (5x food with Cobalt) | Typically 1–4x |
| Transfer partners | 15+ airline and hotel partners | Varies by issuer |
| Annual fees | Range: $0–$799 | Range: $0–$599 |
| Foreign transaction fees | 2.5% (most cards) | 0–2.5% depending on card |
| Premium perks | Airport lounges, hotel status | Fewer lounge options |
| Verdict | Pair with a Visa/MC for full coverage | Essential backup card |