American Express cards pay some of the richest category rates in Canada; the Amex Cobalt, for example, earns 5x points on food and groceries. 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. For cards on other networks, start from our credit card reviews and roundups.
Best Amex Cards: Comparison
| Card | Annual Fee | Earn Rate | Best For |
|---|---|---|---|
| American Express Cobalt Card | $191.88/year ($15.99/mo) | 5x food & drink (groceries, dining, food delivery, capped $2,500/mo combined), 3x streaming, 2x gas/transit/rideshare, 1x everything else | Best overall; foodies, young professionals |
| American Express Gold Rewards Card | $250/year | 2x gas/groceries/drugstore, 2x travel, 1x everything else | Frequent travellers |
| American Express Platinum Card | $799/year | 2x points on dining and food delivery in Canada, 2x on travel, 1x everything else | Premium travellers; lounge access |
| SimplyCash Preferred Card from American Express | $119.88/year ($9.99/mo) | 4% gas and groceries (on up to $30,000/yr, up to $1,200 cash back), 2% everything else | High cash back on gas/groceries |
| SimplyCash (no fee) | $0 | 2% gas and groceries (on up to $15,000/yr, up to $300 cash back), 1.25% everything else | No-fee cashback |
| American Express Aeroplan Card | $120/year | 2x direct Air Canada purchases, 1.5x dining/food delivery, 1x everything else | Aeroplan members |
| American Express Business Gold Rewards Card | $199/year | 1x on everything (no bonus categories) | Simple business rewards |
| American Express Business Platinum Card | $799/year | 1.25x on everything (no travel-specific bonus) | High-spending businesses; travel perks |
Note: the Business Gold and Business Platinum cards are FLAT-rate cards in Canada with no bonus spending categories – they should not be confused with the US Amex Business Gold Card’s ‘auto-detect top 2 categories at 2x’ feature, which is a different product not sold in Canada.
Amex Cobalt Card: Deep Dive
The Cobalt is the card most Canadians should start with. At $191.88/year ($15.99/mo), 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 (gas/transit/rideshare) | 2x points (NOT general travel bookings, which earn 1x) |
| 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
Full review: American Express Platinum Card review.
The Platinum at $799/year is Canada’s most expensive personal credit card, but frequent travellers who use all the perks can extract $1,000+ in value. The unlimited Amex Global Lounge Collection 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 |
|---|---|
| Amex Global Lounge Collection access (unlimited, 1,400+ lounges) | $400+/yr |
| $200 annual travel credit | $200 |
| Marriott Gold Elite status | $100+ value |
| Hilton Gold status | $100+ value |
| NEXUS application credit | Confirm current value directly with Amex |
| 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.
Related Articles
Sources
The figures and rules on this page come from these sources, last checked against them between October 3, 2026 and October 6, 2026. How we check facts.
- americanexpress.com: Cobalt to gold card
- americanexpress.com: Cobalt card
- americanexpress.com: American Express® Membership Rewards® Cards | Amex Canada
- americanexpress.com: The Platinum Card® | Amex CA
- americanexpress.com: Cash Back Credit Cards | Amex Canada
- americanexpress.com: American Express® No Annual Fee Credit Cards | Amex CA
- americanexpress.com: Compare cards
- americanexpress.com: American Express® Business Gold Rewards Card | Amex CA
- americanexpress.com: Business Platinum Card® From American Express | Amex CA