What is the best American Express card in Canada?

The best Amex card depends on your spending. For travel, the Amex Cobalt Card earns 5x points on food and drink and 2x on transit and travel with no annual fee restrictions. For premium travel perks, the Amex Platinum Card offers Priority Pass lounge access, hotel status, and a $200 travel credit. For cashback, the SimplyCash Preferred earns 2% on everything.

Is American Express widely accepted in Canada?

Amex acceptance has improved significantly. Most major retailers, grocery stores, gas stations, restaurants, and online merchants now accept Amex in Canada. However, some small businesses, independent shops, and certain fast-food chains may not accept it due to higher merchant fees. Carrying a Visa or Mastercard as backup is still recommended.

Are Amex points worth more than other rewards programs?

Amex Membership Rewards points are worth approximately 1–2 cents each when transferred to airline partners (Aeroplan, British Airways, Marriott). This is comparable to or better than TD Rewards and CIBC Aventura points. For maximum value, transfer Amex points to travel partners rather than redeeming for statement credits (0.7–1 cent per point).

Best American Express Cards in Canada in 2026

American Express offers the highest reward earn rates in Canada — the Amex Cobalt at 5x on food is unmatched by any Visa or Mastercard. The trade-off is acceptance: Amex works at about 85–90% of Canadian merchants, which means you’ll need a backup card for the holdouts. For most people, the best strategy is pairing an Amex for high-earning categories with a no-fee Visa or Mastercard for everywhere else. Below is every Amex card worth considering in 2026.

Best Amex Cards: Comparison

Card	Annual Fee	Earn Rate	Welcome Bonus	Best For
Amex Cobalt	$191.88/yr ($15.99/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

The Cobalt is the card most Canadians should start with. At $15.99/month ($191.88/year, per americanexpress.com), it’s affordable enough for almost any budget, and the 5x earning on food and groceries delivers $400–$600 in annual rewards even at moderate spending levels. The MR points transfer to 15+ airline and hotel partners, giving you far more flexibility than a fixed cashback card. The Cobalt also has no preset spending limit, which means it won’t decline you for a large purchase — though you’ll need to pay it off quickly.

Feature	Details
Annual fee	$191.88/yr ($15.99/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

The Platinum at $799/year is Canada’s most expensive credit card, but frequent travellers who use all the perks can extract $1,000+ in value. The unlimited Priority Pass lounge access alone covers half the fee if you visit lounges six times a year. Add hotel elite status, the $200 travel credit, and comprehensive travel insurance, and the card pays for itself — but only if you travel frequently. If you fly fewer than four times a year, the Amex Gold offers similar travel earning at a fraction of the price.

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

The Bottom Line

The Amex Cobalt is the best Amex card for most Canadians, with the Platinum reserved for high-frequency travellers who will use every perk. If you want dead-simple cashback without thinking about transfer partners, the SimplyCash Preferred at 2% on everything is hard to beat. Pair any Amex with a no-fee Visa or Mastercard and you’ll have full coverage with maximum rewards.