Canada's top-rated Amex cards compared

American Express in Canada — Everything You Need to Know

American Express operates differently in Canada than Visa or Mastercard: Amex is both the card network and the card issuer for its premium products. This means Amex sets its own reward rates, benefits, and policies — resulting in some of the highest earn rates available on any credit card in Canada, offset by somewhat lower merchant acceptance.

Where Amex Is (and Isn't) Accepted in Canada

As of 2026, American Express is accepted at the majority of major Canadian retailers including Costco, Loblaws, most grocery chains, most restaurants, and large e-commerce platforms. Amex is less commonly accepted at independent gas stations, small local businesses, and some regional merchants. Many Canadians use an Amex as their primary card for high-earn categories and carry a no-fee Visa or Mastercard as backup.

Cobalt Card vs. SimplyCash Preferred: Which Amex Is Better?

The Cobalt Card earns 5× Amex MR points on eligible food and drink purchases — the highest earn rate in Canada on those categories. The SimplyCash Preferred earns 4% cash back on gas and groceries with 1.25% on everything else — straightforward, with no points program to manage. The Cobalt is better for high restaurant and food delivery spenders; SimplyCash Preferred wins for grocery and gas-heavy households who prefer cash over points.

Amex Membership Rewards Points

Amex MR points transfer to Aeroplan, British Airways Avios, Air France/KLM Flying Blue, and several other airline programs at a 1:1 ratio. Flight transfers consistently provide the highest value, typically $0.015–$0.025 per point. See our travel credit card comparison for full Aeroplan and Avion alternatives.

Compare the Cobalt and SimplyCash Preferred side by side above, or see how Amex stacks up against all options on our full Canadian credit card comparison page.