Is AMEX worth it Canada?

It’s really simple: American Express offers the most rewarding credit cards on the Canadian market: Membership Reward points are the most flexible points currency available to Canadians, with transfer options to Aeroplan, British Airways, Marriott, Hilton, and more.

Is Amex worth getting?

For the right cardholder, the Amex Gold is absolutely worth it. The card offers the highest combined rewards rate you can find on both U.S. supermarket and restaurant purchases – making it ideal for foodies. Plus, it comes with several travel protections and credits that can help offset its high annual fee.

Why is Amex less widely accepted?

Why Isn’t American Express Accepted Everywhere? … The reason has to do with the interchange fees charged by the credit card payment networks such as Visa, Mastercard, Discover and American Express. These fees are a percentage of each credit card transaction that a merchant has to pay to the payment network.

What credit score do you need for Amex Canada?

For Amex credit cards, you’ll need to have at least a good credit score of 660 or more to be able to qualify for an Amex card, but this can vary from card-to-card.

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Can you get Amex in Canada?

Scotiabank: Currently, Scotiabank is the only bank in Canada to offer American Express credit cards. … They also offer the Scotiabank American Express Card, which earns a flat 1 point for every $1 spent.

Does Amex build credit?

Every month an open Amex account is used responsibly, positive information will be reported to the credit bureaus. … That said, any primary or additional cardholder who has only positive credit information reported monthly to credit bureaus can build excellent credit with enough time.

Is Amex Gold worth the annual fee?

Is the American Express Gold Card worth the annual fee? If you make use of the card’s annual credits and you spend a lot on dining and groceries, the card can be well worth the $250 fee. If you’re not maximizing the credits and bonus categories, another card could be a better choice.

Why is AMEX so popular?

American Express is most famous for its travel cards like the Platinum Card and premium “experiential” offerings like concierge service, but it also offers cards with non-travel perks and lower annual fees. Amex cards also offer various benefits like travel insurance and purchase protection.

Does Costco take Amex?

Since Costco has a contract with Visa, shoppers can’t use credit cards backed by the other three main networks, American Express, Mastercard or Discover, at Costco warehouses. However, you’re able to pay with Mastercard and Discover cards for purchases made at Costco.com and the Costco app.

Where is AMEX not accepted in Canada?

Loblaws, with the exception of Shoppers, and Costco are excellent examples of large retailers that don’t accept American Express credit cards. Other than these retailers you should be able to use your American Express credit card everywhere you shop.

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Is it hard to get an Amex?

It’s generally harder to get an American Express card than it is to get a credit card from many other major issuers simply because all of Amex’s credit card offers require good or excellent credit for approval. … And some of Amex’s premium cards for big-spenders, which can be relatively difficult to get, have high fees.

Does Amex do a hard pull?

Yes, the Amex Cash Magnet Card will do a hard pull on your credit report when evaluating your application. The Amex Cash Magnet Card requires a credit score of at least 700. That means applicants need good credit or better to get approved.

What is the minimum income for American Express?

2 In order to receive an invitation to be considered you likely must spend at least $250,000 on other American Express cards each year. Some reports mention you also need at least $1.3 million in annual income, although other reports speak of Black cardholders who merely earn mid-six-figure salaries.

Is it bad to have too many credit cards Canada?

While there’s no hard and fast rule about how many credit cards someone should have (or how many credit cards are too many), it’s recommended that every adult have at least one. … Your credit score can also impact the interest rate you pay on a loan.

Does Walmart Canada take Amex?

Walmart is a flexible retailer in that all credit and debit cards are accepted in any of its stores, including Visa, Amex, and Mastercard. … Visa was briefly banned in some stores in Ontario, but the companies reached a compromise that saw the return of Visa as an accepted payment method at any Walmart in Canada.

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How do I cancel my American Express Card Canada?

One of the easiest methods to cancel your cards is to simply call the phone number on the back of your card. You can also call the customer service phone number 1(800)528-4800 but you may need to have all of your card details with you.