- Platinum Member
- Posts: 52
- Joined: Fri Jan 25, 2013 3:10 am
- Location: San Bruno
Canadian credit cards generally offer much less rewards compared to their American counterparts, and AmEx is no exception. The well-recommended non-mainline (Green/Gold/Platinum for charge, Blue Sky for credit) cards such as BCE is simply unsustainable in Canada from a business perspective (a survey of recommended Canadian CCs offering rewards on groceries gives 2% tops on cards without an annual fee - where the standard reward rate is 0.5%). The closest analogue to the AmEx SimplyCash is the Air Miles credit card, but that's a 0.05% on everything card. The best Canadian credit card that offers is ChoicePlus (which is pretty much the Canadian counterpart to the BCP, but with 2% rewards on five places of your choice and 1% elsewhere - and one of those eligible 2% places is GO Transit, so Torontonians can abuse it easily).
Also, unlike banks in the US, only AmEx issues AmEx cards. This is because up until VERY recently, the big banks in Canada could only issue credit cards using only one major processing network. 4 of the big 5 sided with Visa, BMO with MC. Thus, there's no real incentive to accept AmEx at most Canadian retailers.
Current Credit Scores:
VantageScore 3.0 - 760 TU, 764 EX (11-19-16, Credit Karma)
FICO 8 - 747 EX (10-22-16, AmEx statement)
Discover - 750 TU (11-4-16, Discover statement)
Current Credit Cards:
RBC - $8000 CAD
BoA - $13500 USD
Capital One - $2750 USD
AmEx BCE - $4000 USD
Discover It - $8000 USD