A closer look at the best Amex travel cards in Canada

Once bitten by the travel bug, you know, the adventure never stops!

Planning for an upcoming trip, you find that the right credit card companion significantly impacts your experience . American Express (Amex) is popular when traveling, thanks to its mostly global acceptance, robust rewards programs, and comprehensive travel insurance. It also has some limitations including annual fees and acceptance limitations in certain regions. In this article, we will uncover if American Express is a suitable choice for your travel needs, highlighting key considerations! We’ll also be looking at the Wise card and how it could be a money-saving companion during your adventures.

Key points we'll cover in this guide
Amex Cards to Consider for Your Travel Plans SimplyCash by American Express Scotiabank Gold American Express card Scotiabank Platinum American Express card American Express Cobalt Card What If Credit Cards Aren’t Accepted At Your Favourite Travel Destinations!? How Can Wise Help During Your Travels? How to Use Wise What if you need to use cash instead?

Amex Cards to Consider for Your Travel Plans

Just like no two people travel the same, there is no universally “best” credit card for travel as everyone's preferences vary immensely. Luckily, however, the market is bursting with a wide range of travel credit cards, each offering its benefits and features. It's best practice to find the card that aligns best with your individual needs and travel habits, allowing you to maximize the rewards and benefits that matter most to you.

American Express has many cards offering excellent travel benefits. Here’s a breakdown of some popular choices!

SimplyCash by American Express

The SimplyCash Card works as a cashback credit card rewarding your everyday spending. Cardholders can enjoy a cashback rate on everything they buy, and there is no limit to cashback earned.

Eligibility Criteria

SimplyCash is accessible, with no personal or household income requirement, and anyone of the majority age in their province can apply.²

Travel Benefits

Enjoy the following when on vacation:

• $100,000 travel accident insurance for loss of life or dismemberment when traveling on a common carrier¹.
• Earn 1.25% cash back on eligible purchases when abroad.¹
• Explore Canada and earn 2% cash back on gas in Canada.¹
• Purchase protection and fraud protection.¹

Insurance Benefits

Feel a sense of peace with the following insurance coverage:

1. Up to $100,000 in coverage for accidental death and dismemberment¹.
2. Insurance for eligible items is charged up to 90 days (3 months) in the event of accident, physical damage or theft, up to $1,000 occurrence¹.
3. Extended manufacturer's original warranty for up to one year! ¹
4. Protect the credit card balance up to $20,000 with the AMEX Account Protector Ultimate¹.
5. Option to add on AMEX Travel Insurance.¹

Fees and interests to be paid

Fee/Interest	Amount to be paid2
Monthly Fees	9.99 CAD charged each month after card is issued
Foreign currency conversion	Commission of 2.5% per transaction
Interest on purchases	21.99%
Interest on funds advanced	21.99%
Interest rates after missing payments	25.99% for 12 months after 2 separate missed payments 28.99 for 12 months after 3 or more separate missed payments

Scotiabank Gold American Express card

Considered a premium credit card, the Scotiabank Gold American Express Card is ideal for folks who love getting rewards on their everyday purchases³.

Eligibility Criteria

To get your hands on one, the cardholder must

• be the eligible legal age in their province

Travel Benefits

Enjoy the following when on vacation :

• Save 2.5% on all foreign transaction fees on foreign currency purchases, including online shopping and when traveling abroad. You will only pay the exchange rate fees!³
• Earn exciting AMEX rewards when traveling! ³
• Access to Scene+ Travel, a full-service travel agency associated with your card for booking flights and hotels.³
• Gain access to the airport lounges with access to over 1,200 VIP airport lounges around the world.³

Insurance benefits

Feel a sense of peace with the following insurance coverage:

1. Up to $1 million in emergency medical coverage for sudden illness or accidental injury while traveling outside Canada.³
2. Trip Cancellation and Trip Interruption Insurance gives you back up to $1,500 per person and a maximum of $10,000 per trip including medical, nonmedical causes, or interruptions.³
3. Flight delay insurance up for hotel, accommodation, meals, and other items reimbursed.³
4. Delayed and lost baggage insurance up to $1,000.³
5. Travel accident insurance against accidental loss of life or dismemberment up to $500,000 while traveling on licensed carriers. ³
6. Rental car collision loss and damage insurance protects you against damage and theft.³
7. Any hotel or motel in Canada or the U.S. will be insured against theft, up to $1,000.³
8. Enjoy Mobile Device Insurance covers up to $1,000 if your device is lost, stolen, accidentally damaged, or has mechanical failure.³
9. The card also offers optional Scotia Credit Card Protection insurance for specific life events such as Death, Critical Illness, Hospitalization, Disability, Job Loss, or Strike or Lockout, with options for either Basic Protection or Comprehensive Protection bundles.³

Fees and Interest rates

Fees to be paid	Amount3
Annual Fee	120.00 CAD
Additional Card Fee	29 CAD/year
Interest to pay on purchases	20.99%
Interest to pay on cash advances	22.99%

Scotiabank Platinum American Express card

If you frequently travel and seek to maximize your spending, you might find Scotiabank Platinum American Express card a good choice.

Eligibility Criteria⁵

To be eligible for the Scotiabank Platinum American Express Card, you have to have

• a minimum annual income of $12,000
• Canadian residence
• Age of majority
• No bankruptcy in the past 7 years

You also need to allow Scotiabank to access your credit bureau report to process your application.

Travel Benefits

Enjoy the following when on vacation:

• 10 VIP lounge passes to over 1,200 locations. ⁴
• Zero Foreign Currency Conversion mark-up online or outside of Canada, only covering the exchange rate.⁴
• Earn 3 Scene+ points per 1 CAD spent on hotel and car rentals booked through Scene+ Travel, which can be redeemed for flights, car rentals, and hotels, offering flexible travel booking.⁴
• Access 24/7 premium concierge services for reservations, show tickets, and more.⁴
• Access to Amex Offers dining and travel benefits and more. ⁴
• Become a Hertz rental car Club Gold member.⁴

Insurance benefits

Feel a sense of peace with the following insurance coverage:

1. Covers up to $2 million for unexpected medical illness or injury when traveling out-of-province. The coverage extends to you, your spouse, and dependent children.⁵
2. Get up to $2,500 for trip cancellation per person with Trip Cancellation and Interruption Insurance. ⁴
3. The Flight Delay Insurance covers up to $1,000 per person for delays exceeding four hours.⁴
4. Up to $1,000 per person for delayed or lost baggage.⁴
5. The Rental Car Collision or Damage Insurance covers any rentals up to $65,000 and offers discounts on insurance fees charged by car rental companies.⁴
6. Up to $1,000 back from theft in your hotel room with Hotel Burglary Insurance.⁴
7. Cardholders get up to two additional years on eligible purchases with an Extended Warranty.⁴
8. Purchase protection allows cardholders coverage for 120 days against damage, loss, or theft of new items.⁴
9. Mobile Device Insurance provides up to $1,000 for new phones or tablets if they are lost, damaged, or stolen.⁴

Fees and interest rates to be paid

Fee to be paid	Amount4
Annual Fee	399 CAD
Additional Card Fee	99 CAD/year
Interest on purchases	9.99%
Interest on cash advances and fund transfers	9.99%

American Express Cobalt Card

The American Express Cobalt Card is a popular credit card within Canada, beloved for its hefty rewards for frequent spenders.⁷

Eligibility Criteria

There is no annual income requirement for the AMEX Cobalt card, but you must be a Canadian resident.

Travel Benefits

Enjoy the following when on vacation :

• 5 times the membership rewards point on all food and beverages, up to $2,500 monthly, after which, the earn rate drops to 1x.⁷
• 2 times the membership rewards points on travel and transit.⁷
• 1 bonus membership reward when any travel is booked directly through Amex Travel.⁷
• Enjoy hotel credit for dining, spa, or other leisure facilities when paid with your card and a chance for a one-category room upgrade at check-in, when staying two or more consecutive nights at participating accommodations .⁷

Note: Cardholders can use their earned points freely to pay for whatever they choose, from subscription services to entertainment, and dining, drinks, or travel.⁷

Insurance benefits

Feel a sense of peace with the following insurance coverage:

1. Emergency medical insurance for up to five million for the first 15 days of your out-of-province trip, applicable to travelers under 65.⁷
2. Insurance against lost, stolen, or damaged baggage, up to $500.⁷
3. Insurance for baggage delay, up to $500.⁷
4. Car rental loss and damage insurance, which protects the car with a Manufacturer's Suggested Retail Price of up to $85,000.⁷
5. Accommodation burglary insurance, up to $500.⁷
6. Receive up to $500 in coverage for necessary accommodations, dining, and other items purchased within 48 hours due to a delay or denial of boarding lasting 4 hours or more.⁷
7. Purchase Security for eligible items charged for 90 days from the date of purchase against any accidental physical damage or theft for up to $1,000.⁷
8. Mobile security up to $1,000 against theft, loss, or accidental damage worldwide.⁷
9. This coverage continues for up to 2 years from the date of purchase.⁷
10. Extended Warranty Protection.⁷

Fees and interests to be paid:

Fees and interests to pay	Amount6
Monthly Fees	12.99 CAD
Foreign transaction commission	Mentioned in the disclosure when applying10
Additional Card Fee	0.00 CAD
Interest on purchases	21.99%
Interest on cash advances	21.99%

What If Credit Cards Aren’t Accepted At Your Favourite Travel Destinations!?

Imagine your favorite travel destinations not accepting Credit Cards! The stress of realizing your international credit or debit card is not accepted can be daunting.

For moments like these, it is important to carry money in the local currency.

Wise helps, offering a practical and stress-free solution with their multi-currency account, allowing holders to have over 40 currencies readilyaccessible in one single account that they can instantly convert when needed.

How Can Wise Help During Your Travels?

Globetrot with a multi-currency account from Wise! Wise lets you instantly transfer your Canadian dollars and convert them into Brazilian reals, Japanese yen, Philippine pesos, Indian rupees, and beyond! Carry and manage your money across multiple currencies without the stress.

With your Wise card, you’ll feel like a local!

You can freely send and spend money worldwide at the mid-market exchange rate, without hidden fees typically associated with currency exchange. So you can feel secure withdrawing cash from millions of ATMs abroad, eating at restaurants, shopping, or booking flights. You benefit from transparent pricing.

Wise charges a smallconversion fee starting at 0.33%, while matching the mid-market or interbank exchange rate, matching the exchange rate you are likely to see on Google.

Wise can save you up to 4x the cash you’d lose in hidden fees/exchange rates with other banks or money transfer providers. Read more!

Spend like a local, order your Wise Card today! Best of all — it’s free to get your Wise card, be it physical or virtual!

Please see theTerms and Conditions for your region and visit ourpricing page for the most up-to-date pricing and fee information on Wise products.

How to Use Wise

After signing upand verifying your identity, you can either select to fund your transfer from an external account or your existing Wise balance. Confirm the amount and currency, and voilà ! You can use it and spend it just like a local with your handy Wise Card.

What if you need to use cash instead?

Easy! Simply head to an ATM and use the Wise card to withdraw in the local currency. Money is then automatically deducted in the local currency from your account, avoiding currency conversion charges on top of the ATM fees you might have to pay.

The Wise card allows you to make two free withdrawals up to 350 CAD, or the equivalent, every month. Thereafter, a nominal fee is charged by Wise per subsequent withdrawal in the particular calendar month.

To Sum It Up

We designed this article to help you choose the best-suited card for your international travel based on your preferences and needs. All the cards mentioned have their perks, but Wise stands out as a superhero, allowing you to avoid exorbitant fees and enjoy spending like a local. Join the 16 million customersworldwide today! Learn more about Wise!

Get your Wise account and card in a few clicks! 🚀

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Sources

1. American Express - SimplyCash Insurance Coverage Review
2. American Express SimplyCash Annual Interest Rate
3. ScotiabankAmex Gold
4. Scotiabank Platinum American Express Card
5. Scotiabank Application
6. Amex Cobalt
7. Cobalt Card Benefits | American Express CA
8. Cobalt Card - Review Current Insurance Coverage | Amex CA
9. Upgrade to the American Express ® Gold Rewards Card.
10. Amex Cobalt foreign transaction fees Page 10 - 11

Sources verified on 2 July 2024