Amex card levels - how to choose the right American Express card for you
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Updated: September 18, 2023
We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware that some (or all) products and services linked in this article are from our sponsors.
We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware this post may contain links to products from our partners. We may receive a commission for products or services you sign up for through partner links.
American Express cards are some of the most popular in the Canadian market. They typically offer lots of great perks, strong bonuses, and with no minimum income requirement, they’re an accessible choice for many.
However, there are plenty of options out there, and trying to figure out American Express’ credit card levels can be a confusing journey. In this article, we’ll show you an easy way to compare Amex card levels so you can find the best card to suit your needs. Or, you can jump to our Best American Express Cards instead.
American Express card levels explained
Unlike Visa and Mastercard, American Express doesn’t have a formal tiered system (with exceptions). However, if you are looking for ways to better categorize American Express cards, you can take our approach.
We’ve divided the cards into four different levels based on annual fees and requirements. As a general rule, normally the higher the level of card, the better the benefits and perks (as you will see in our comparison later).
Entry-Level American Express Cards
- Annual fee: $0
- Credit score requirement: Fair-Good, 670 – 739
Mid-Tier American Express Cards
- Annual fee: $0 to $250
- Credit score requirement: Fair-Good, 670 – 739
Premium American Express Cards
- Annual fee: $250 to $699
- Credit score requirement: Excellent, 740 – 900
The American Express Centurion Card
The Amex Centurion (or Amex Black) is the highest level American Express card, but it has a very elite, invite-only membership and Amex does not officially publish its information. We’ll discuss this in further detail later on in the article.
Related: Best American Express Credit Cards
American Express credit cards ranked by card level
American Express currently offers around 20 different card options for Canadians. We’ve chosen three of the most popular cards to better compare the differences between American Express card levels.
The SimplyCash® Card from American Express
Who's eligible?
- – Minimum credit score: Fair-Good
- – Minimum income: N/A
- – Age: 18+/Age of majority
- Residency: Canadian resident
The SimplyCash® Card from American Express offers very high cash back rates for an entry-level card with no annual fee. In your first 10 months as a new SimplyCash® Card from American Express Cardmember, you can earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases on your Card. This could add up to $100 in statement credits in the first 10 months. Conditions apply. Plus, earn 2% cash back on eligible gas purchases in Canada, 2% cash back on eligible grocery purchases in Canada (up to $300 cash back annually), and 1.25% cash back on all other eligible purchases
As an entry-level credit card, its benefits beyond the high cash back rate are somewhat scant, but it does nonetheless come with travel accident insurance, as well as extended warranty and purchase protection on all the items you purchase with the card. You also get to access events and special offers curated for Cardmembers with American Express® Experiences.
Click here to apply or learn more by reading our complete SimplyCash® Card from American Express review.
American Express Cobalt® Card
Who’s eligible?
- – Minimum credit score: Fair-Good
- – Minimum income: N/A
- – Age: Age of majority in province/territory
- – Residency: Canadian resident
The American Express Cobalt® Card is a credit card and is considered a mid-tier card by American Express standards. It has a low $155.88 ($12.99 monthly fee) annual fee and any additional cards are free. Plus, a welcome offer for new cardholders: In your first year as a new Cobalt® Cardmember, you can earn 2,500 Membership Rewards® points for each monthly billing period in which you spend $500 in purchases on your Card. This could add up to 30,000 points in a year. That’s up to $300 towards a weekend getaway or concert tickets. Conditions apply.
Cardholders earn 5 points for every dollar they spend in stand-alone grocery stores, at restaurants, or on food delivery services; 3 points for every $1 spent on eligible streaming services; 2 points for every $1 spent on travel, transit, and gas; and 1 point for every $1 spent on everything else. These points can then be redeemed for a credit against a card statement, for travel, gift cards, or on Amazon.ca purchases. They can also be transferred to other popular travel programs like Aeroplan and Avios.
Additional benefits offered by the American Express Cobalt® Card include perks with properties of The Hotel Collection, entertainment access via American Express Invites, and an insurance plan that includes both travel and shopping protection.
Click here to apply or learn more by reading our complete American Express Cobalt® Card review.
The Platinum Card®
Who's eligible?
- – Minimum Credit Score: Good-Excellent
- – Minimum Income: N/A
- – Age: 18+/Age of majority
- – Residency: Canadian resident
The Platinum Card® is one of the highest levels of Amex cards (Centurion card aside). It comes with an annual fee of $699. Additional cards are $175 per year.
Earn 80,000 Membership Rewards® points – that’s $800 towards a weekend away. New Platinum® Cardmembers, earn 80,000 Welcome Bonus points after you charge $7,500 in net purchases to your Card in your first 3 months of Cardmembership. Conditions apply.
On top of that, cardholders will receive a $200 CAD annual travel credit which can be used toward a single travel booking worth $200+ made through America Express Travel Online or through the Platinum Card Travel Service (and charged to your card).
Eligible dining and food delivery in Canada charged to the card will earn 3 points for every $1 spent; eligible travel purchases earn 2 points for every $1 spent; all other card purchases earn 1 point for $1 in all other Card purchases.
Cardholders can also take advantage of additional benefits including unlimited airport lounge access, automatic gold status in several hotel programs, Amex entertainment benefits, Toronto Pearson Airport benefits, entry to Amex’s International Airline Program, and a comprehensive travel insurance package.
Click here to apply or learn more by reading our complete The Platinum Card® review.
American Express card levels: Comparison chart
| - | SimplyCash® Card from American Express (Entry Level) | American Express Cobalt® Card (Mid-Tier) | The Platinum Card® (Premium) |
|---|---|---|---|
| Annual fee | $0 | $155.88 ($12.99 monthly fee) | $699 |
| Sign-up bonus | In your first 10 months as a new SimplyCash® Card from American Express Cardmember, you can earn a $10 statement credit for each monthly billing period in which you spend $300 in purchases on your Card. This could add up to $100 in statement credits in the first 10 months. Conditions apply. | Earn up to 30,000 Membership Rewards® points in the first year (conditions apply) | Earn 80,000 Membership Rewards® points (conditions apply) |
| Highest standard earn rate | Earn accelerated earn rates on eligible gas and grocery purchases | 5 pts / $1 | 3 pts / $1 |
| Travel insurance | Minimal | Good | Excellent |
| Additional benefits | Minimal | Amex Invites; transfer points to other programs | $200 travel credit; hotel status upgrades; unlimited lounge access; Amex Invites; transfer points to other programs |
What is the highest level American Express card?
The highest level American Express card is the Centurion card, which is also known as the ‘black card.’ However, it’s available only by invitation from American Express, meaning you can’t just apply for it as you would the other cards mentioned in this article.
So, how do you get invited? It seems many invitees are chosen from existing American Express cardholders, particularly Platinum cardholders. Cardholders generally need to charge a very high amount to their cards (perhaps above $100K) to be invited.
Those invited to become Centurion cardholders will need to pay a very significant annual fee (estimated at $2,500) in addition to a one-time initiation fee of around $7,500.
But reports of the card’s benefits indicate that those sky-high fees might be worth it. Centurion cardholders have access to a personal travel concierge; flight upgrades; companion tickets; free hotel nights; highest-level airport lounge access; and are exempt from foreign transaction fees, among numerous other rumoured benefits.
Bottom line on American Express Card levels
When choosing an American Express card, it is important to consider your individual needs and financial standing. Some important factors to consider include your annual income, any annual fees or other costs associated with the card, and your credit score health. There are a variety of cards available with varying levels of benefits and features, so it is important to carefully evaluate each option before deciding which card is right for you.
With some careful consideration and research, you can find the best Amex card that will help you achieve your financial goals while providing you with all the benefits and perks that come along with being an Amex customer.
Related Articles:
How To Choose the Best Credit Card
Canada’s Best Aeroplan Credit Cards in 2023
Best Air Miles Credit Cards in Canada in 2023
This post was not sponsored. The views and opinions expressed in this review are purely my own.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information click the Apply now link. Conditions apply.
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