Rewards programs

American Express Membership Rewards

Program run by Amex Bank of Canada. Here is what one American Express Membership Rewards point is worth, how to redeem it and the cards that earn the most of it.

  • Values taken from official pages or from an announced specialist benchmark
  • Cards ranked by net value, annual fees deducted
  • Official pages reread regularly

Official program site All programs

Value of one point

Where the value comes from
Fixed redemption published by the program
Value used for the ranking
Cards are ranked at 1.5¢ per point: points transfer 1,000 → 1,000 to Aeroplan, which Futello values at 1.5¢ per point, above the official 1.0¢ statement credit.
Source
American Express Canada
Verification
Verified on October 8, 2026 Source up to date

“a minimum redemption of 1,000 points for a $10 statement credit”

Restrictions

  • Minimum redemption of 1,000 points.
  • Amazon.ca and SafeKey redemptions pay $7 per 1,000 points; airline and hotel transfers vary.

Programs do not issue the same number of points per dollar: to compare two programs, look at the return per dollar spent, not the value of a point.

Excerpts are quoted in the language of their source.

Cards that earn these points

Annual spending levels

Each level is a basket of annual spending split across everyday categories. The returns and the ranking are recomputed for that basket.

  • Moderate — $24,000 / year
  • Standard — $36,000 / year
  • High — $60,000 / year

In a personalized analysis, your actual spending replaces this reference basket.

Ranked by annual net value on the standard reference basket ($36,000 of spending a year), annual fees fully deducted.

Rank Card Network Annual fee Annual net value Earning Limitations
1 American Express Cobalt Card American Express $191.88 $1,122.12
  • Eats and drinks: 5 points / $ (7.5¢ per dollar)
  • Food delivery: 5 points / $ (7.5¢ per dollar) (capped at $2,500)
  • Groceries: 5 points / $ (7.5¢ per dollar) (capped at $2,500)
  • Restaurants: 5 points / $ (7.5¢ per dollar) (capped at $2,500)
  • Streaming: 3 points / $ (4.5¢ per dollar)
  • Gas / charging: 2 points / $ (3¢ per dollar)
  • Rideshare: 2 points / $ (3¢ per dollar)
  • Transit: 2 points / $ (3¢ per dollar)
  • Everyday purchases: 1 point / $ (1.5¢ per dollar)
 Point value: transfer equivalent — for the ranking, a point is worth the partner program’s point it transfers to at the official ratio, above the official statement-credit rate.
2 American Express Green Card American Express $0 $540
  • Everyday purchases: 1 point / $ (1.5¢ per dollar)
 Point value: transfer equivalent — for the ranking, a point is worth the partner program’s point it transfers to at the official ratio, above the official statement-credit rate.
3 American Express Gold Rewards Card American Express $250 $488
  • American Express Travel: 3 points / $ (4.5¢ per dollar)
  • Travel: 2 points / $ (3¢ per dollar)
  • Drugstores: 2 points / $ (3¢ per dollar)
  • Gas / charging: 2 points / $ (3¢ per dollar)
  • Groceries: 2 points / $ (3¢ per dollar)
  • Everyday purchases: 1 point / $ (1.5¢ per dollar)
 Point value: transfer equivalent — for the ranking, a point is worth the partner program’s point it transfers to at the official ratio, above the official statement-credit rate.

Return computed with the value used for the ranking: 1.5¢ per point.

Unranked cards

These cards also earn American Express Membership Rewards points, but the calculation could not rank them. They stay listed with the reason.

How to use your points

The redemption options the program publishes, with the value of a point when it is fixed.

  • Statement credit

    Statement credit

    1.0¢ per point

    “a minimum redemption of 1,000 points for a $10 statement credit”

    • Not available to corporate cardmembers.
    Official source

  • Travel booking

    Travel (Flexible Points Travel Program)

    1.0¢ per point

    “Flexible Points 1,000 points = $10 travel credit Travel Program”

    • Booked through American Express Travel.
    Official source

  • Flight rewards

    Fixed Points Travel Program

    Variable value, not published

    “Under the Fixed Points Travel Program, a fixed number of points covers the base ticket price of eligible flights up to the applicable maximum base ticket price.”

    • Retired on January 6, 2027 except for Platinum, Business Platinum, Corporate Platinum and Centurion by phone; Quebec rules differ.
    Official source

  • Other redemption

    Amazon.ca Shop with Points

    0.7¢ per point

    “Shop with Points at 1,000 points = $7 credit Amazon.ca”

    Official source

  • Gift cards

    American Express gift cards

    0.8¢ per point

    “American Express gift cards can be redeemed at the rate of 125 points per Gift Cards & $1.”

    • Other gift cards: 130 points per $1.
    Official source

Transfer partners

Conversion rates as read on the program’s official pages.

Partner Type Conversion Restrictions Source
Aeroplan Airline 1,000 → 1,000 The partner account must be in the cardmember's name; transfers are final. Verified Source
Air France KLM Flying Blue Airline 1,000 → 1,000 Verified Source
British Airways Club (Avios) Airline 1,000 → 1,000 Verified Source
Cathay Pacific Asia Miles Airline 1,000 → 750 Verified Source
Delta SkyMiles Airline 1,000 → 750 Verified Source
Etihad Guest Airline 1,000 → 750 Verified Source
Hilton Honors Hotel 1,000 → 1,000 Verified Source
Marriott Bonvoy Hotel 1,000 → 1,200 Verified Source
ALL Accor Hotel 1,000 → 500 Verified Source

Expiry and minimum redemption

Point expiry
“There is no expiry or use by date on points while you stay enrolled in the program.” Official source
Minimum redemption
“a minimum redemption of 1,000 points for a $10 statement credit” Official source

Welcome offers in American Express Membership Rewards points

Current offers on the cards of this program. Their value is not part of the ranking above.

View all offers

How to read this ranking

The ranking compares the cards of one program on a single scenario, so the gaps come from the cards and not from the assumptions.

  • Reference basket, standard level: $36,000 of spending a year, spread over everyday categories.
  • High-spend profile; reference province: Quebec.
  • Annual fees fully deducted from the value.
  • Welcome offers excluded: only the recurring value counts.

Your spending is different? See the best cards by use or the strategies by profile.

Limitations of this page

  • Cards are ranked on the standard reference basket of a high-spend profile; your actual spending may change the order.
  • Point value: transfer equivalent — for the ranking, a point is worth the partner program’s point it transfers to at the official ratio, above the official statement-credit rate.
  • Recurring annual fees are fully deducted from each card’s value.
  • Transfer partners and rates are those read on the official pages; a program may change them without notice.
  • The value of welcome offers is not part of the card ranking.