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Introduction
Investing in an Amex Card at the right time can make or break your investment. Annual fees stay about the same, but welcome bonuses on some cards can change 2-3 times a year, so it’s important to know when the best time to apply is.
We’ve crunched the numbers for this “PointsWise Welcome Bonus Tracker” post, and we’ll break down the best welcome bonus for each Amex points currency in Canada. Here are the winners:
- Best Amex Membership Rewards Welcome Bonus: Amex Gold Rewards Card Canada
- Best Amex Marriott Bonvoy Welcome Bonus: Amex Marriott Bonvoy Business Card Canada
- Best Amex Aeroplan Welcome Bonus: Amex Aeroplan Reserve Card Canada
- Best Amex Air Miles Welcome Bonus: Amex Air Miles Platinum Card Canada
- Best Amex Cashback Welcome Bonus: Amex SimplyCash Preferred Card
For Cards we have data for, we’ll also show you the trends over the last 2 years for how often the welcome bonus has been updated on a Card, and whether it’s currently devalued, or has an increased welcome bonus since the last update.
Best Amex Membership Rewards Welcome Bonus in Canada
Winner: Amex Gold Rewards Card Canada
Current Welcome Bonus:
Annual Fee: $
Last Update: September, 2021
Amex Membership Rewards Cards are some of the most rewarding travel Cards in Canada, which made this category tough to judge. But once we ran the numbers, the choice was clear:
Winner: Amex Gold Rewards Card
The biggest factor we considered was how much you would have to spend to earn the maximum amount of welcome bonus points. That includes the:
- annual fee
- minimum spend requirement
- second year annual fee to earn the 14 month card anniversary bonus
- spending bonus throughout the year
Generally, I don’t consider the 14-month card anniversary bonus points a big enough incentive to renew, because most of the Card’s value comes in the first year of ownership.
But in this case, the Gold Card still comes out ahead after paying the second year fee.
With a minimum spend requirement (MSR) of $3,000 in the first 3 months, plus the annual fee of $250, and the second year annual fee, that’s a total of $3,500 charged in the first year to earn a guaranteed 60,000 points. Keep in mind, that doesn’t include the points you’d earn on daily purchases. $3,500 minimum spend / 60,000 points = means it will cost just about 6 cents to earn 1 point.
The weakest welcome bonus was the Business Gold Card costing an astounding 73 cents per point. The Business Gold Card requires way too high of a spend to justify the points. If you’re charging $80k+ on a Card each year, consider the Platinum Card for luxury travel benefits.
With a new Metal Card redesign, Rose Gold option, and revamped benefits, the Gold Card will give you airport lounge access and 60,000 points. Use your points towards a straight forward Amex Fixed Travel redemption for flights, Or, because your Gold Card is a flexible travel rewards Card, you can transfer your Membership Rewards to airline and hotel loyalty programs for even more value. Your bonus points can also be redeemed for a $600 cash statement credit.
If you’re charging $300 a month to this Card, and will fly or stay in hotels at least once or twice in the next year, then you’ll come out ahead with the Gold Card.
Like to fly?
60,000 points is enough for a roundtrip flight anywhere in North America, Hawaii, Mexico, the Caribbean, or Europe valued up to $900 with Amex Fixed Travel. That’s a straightforward points redemption coming way ahead of the $250 annual fee.
Into hotels?
60,000 Amex points is enough for a free night at the The Ritz-Carlton Maui, Kapalua. A base room is currently selling for $1,700 CAD a night in early December. If you’ve allocated $250 a night for a hotel room, elevate your travel game and book a night here instead for some huge savings and memories, after you apply for the Gold Rewards Card Canada.
And since your Gold Card gives you automatic Marriott Gold Elite status, you’ll also get a free room upgrade and late checkout. Another incredible use of points after an easy transfer to your Marriott Bonvoy account.
Best Amex Marriott Bonvoy Welcome Bonus in Canada
Winner: Amex Marriott Bonvoy Business Card Canada
Current Welcome Bonus:
Annual Fee: $
Last Update: September, 2021
Current Status: Devalued 1x (?) The Card has seen a devaluation in welcome bonus points offered since the last update. The number represents how many times the Card has been devalued in a row.
The Amex Marriott Bonvoy Business Card in Canada is currently offering a welcome bonus of 85,000 Marriott points, and comes out ahead of the Personal Bonvoy Card.
By spending $30 more on the annual fee for the Bonvoy Business Card, compared to the Personal Card, you’ll end up with 15,000 more points.
After a record breaking summer for the Personal, and Business Bonvoy Cards we’ve seen the welcome bonus offer stabilize at a respectable 85,000 points as of September, 2021. Welcome bonus offers were even extended twice, as reflected in the above chart.
Even though the Card has devalued since summer, 85,000 Bonvoy points is a great welcome bonus considering the annual fee is only $150.
With an annual free night awarded on this Card as well, you can pair that with your welcome bonus points to redeem 2 nights at a mid-range Marriott hotel – offering impressive value for only $150.
If you have any hotel stays planned in the next year, consider the Bonvoy Business Card to save big, and invest that $150 into this Card to get elite hotel benefits, instead of booking through a third party for an average hotel experience.
The current offer still seems to be riding the coattails of the Summer windfall, so I predict this Card to be devalued further to drop back in line with standard offers we saw prior to.
Best Amex Aeroplan Welcome Bonus in Canada
Winner: Amex Aeroplan Reserve Card Canada
Current Welcome Bonus:
Annual Fee: $
Last Update: August, 2021
Current Status: Devalued 1x (?) The Card has seen a devaluation in welcome bonus points offered since the last update. The number represents how many times the Card has been devalued in a row.
The Amex Aeroplan Reserve Card is currently offering .
The Reserve Card saw a tremendous leap offering up to 150,000 Aeroplan points welcome bonus, plus a Buddy Pass, in June for a limited time. Although the Card has since been devalued to the current offer of 90,000 points, it still outranks the 50,000 and 65,000 points offer we saw in 2019 and 2020.
The last welcome bonus update was in August, 2021 which likely means we are still a few months away from another offer. My prediction is the Card will be devalued again to fall back in line with the offer we saw before the summer 2021 windfall.
The Aeroplan Business Reserve saw the same welcome bonus offers as the personal Card, but has a higher annual fee of $.
Best Amex Air Miles Welcome Bonus in Canada
Winner: Amex Air Miles Platinum Card Canada
Current Welcome Bonus:
Annual Fee: $
Last Update: March, 2021
Current Status: Devalued 1x (?) The Card has seen a devaluation in welcome bonus points offered since the last update. The number represents how many times the Card has been devalued in a row.
Although the top tier Air Miles Reserve Card offers a higher welcome bonus of 2,400 Air Miles, the annual fee is also much higher.
You’ll get better bang for your buck and a better earning rate by investing in the Air Miles Platinum Card if you are a serious Air Miles collector. But if you’re still considering what the best travel rewards Card is, take a look at an Amex Membership Rewards Card instead to maximize your earning potential and flexibility when it comes to redeeming your points.
The current offer of 2,000 Air Miles isn’t as great as we’ve seen compared to the last update which featured 3,000 Air Miles back in October, 2020.
This Card doesn’t seem to see as many welcome bonus updates as some of the other Amex Cards in Canada, so updates are on pace to see a once a year refresh, and should be due for another update soon.
Best Amex Cashback Welcome Bonus in Canada
Winner: Amex SimplyCash Preferred Card
Current Welcome Bonus:
Annual Fee: $
Last Update: September, 2020
Earn up to $500 cashback welcome bonus with the Amex SimplyCash Preferred Card. You’ll earn $400 in cashback, plus a $100 statement credit which cancels out the annual fee.
You’ll earn 10% cashback on everything your first 4 months, then 2% afterwards with no earning limit.
It’s been over 1 year since the last welcome bonus update happened in September, 2020 so we are definitely overdue to see a change with this Card.
There is a $99 annual fee on this Card, compared to the entry level Amex SimplyCash Card that earns a $200 cashback welcome bonus.
This is a rewarding Card with straightforward earning potential, and with no limits, you’ll be able to earn cashback on every purchase, especially when you double dip on cashback deals like this one for Superstore groceries.
Conclusion
If you’re considering an Amex Card in Canada, now you know what Cards are offering the best welcome bonus point offers for each category. Amex Card welcome bonus offers are always changing. Follow PointsWise to make sure you’re getting the most welcome bonus points.
Do you like these types of comparison posts? Let us know in the comments below!
I want to get the Amex Business Gold. I currently have the Bonvoy Business. When I look at the application, it says that current small business card holders are not entitled to the welcome bonus. Do you know if this is the case?