American Express · American Express · travel
Gold Rewards Card
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Terms read from American Express's page on Oct 16, 2026.
Year 1, after fees
$995
Year 2+, after fees
$395
every year after
3 years, after fees
$1,786
Break-even
Month 2
Earn rate by category
Points at 1.00¢ each (cash or statement credit); published range 1¢ to 2.2¢. Source: Amex Cobalt card page.
All values are after each card's annual or monthly fee, and foreign transaction fees when you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime or Instacart+) aren't included.
Values for points and miles are estimates based on published redemption valuations; actual value depends on how you redeem.
On each spending preset
After fees; points at their cash value. "~" marks estimates.
| Spending | Year 1 | Year 2+ | 3 years | Break-even |
|---|---|---|---|---|
| Student ($985/mo) | −$9 | −$9 | −$26 | Never |
| Couple ($2,555/mo) | $852 | $252 | $1,357 | Month 2 |
| Family ($3,350/mo) | $995 | $395 | $1,786 | Month 2 |
| Frequent traveller ($3,880/mo) | $1,098 | $498 | $2,095 | Month 2 |
| Big spender ($7,960/mo) | $1,745 | $1,145 | $4,036 | Month 1 |
Who it suits
- People who spend a lot on groceries and gas, where it earns above its base rate.
Who should skip it
- Light spenders: on a student's $985 a month it doesn't earn back its $250 fee after year 1.
Fees and rates
- Annual fee
- $250
- Additional card
- $50
- Foreign transaction fee
- Not stated
- Purchase APR
- 21.99%
Rewards
- 2x on travel
- 2x on gas, grocery and drugstore purchases in Canada
- 1x on everything else
Credits, as counted
- Annual travel credit: $100 a year80% used
Eligibility and availability
- Income
- None published
- Provinces
- All (no restriction stated)
Published requirements only. We don't estimate approval odds.
Assumptions
- Point value: American Express Membership Rewards (Canada) points at 1.00 cents each: no redemption style chosen, so cash or statement credit. Source: Amex Cobalt card page.
- Welcome bonus: 5,000 points for each month you spend $1,000 in the first year, up to 60,000. Your spending meets it in month 1.
- Credits: Each credit counts at the share a typical cardholder uses (listed on the card's page).
- Note: The welcome offer pays 5,000 points for each month you spend $1,000 in the first year.
- Note: One additional card is free; more cost $50 a year.
Not counted or not confirmed
- Foreign transaction fee isn't on the card page.
Perks, listed but not valued
- Priority Pass lounge access
Earns more every year after year 1
On a family's spending, these keep more value from year 2 than this card's $395.
Scotiabank Gold American ExpressYear 2+ $940
American Express SimplyCash PreferredYear 2+ $936
CIBC Dividend Visa InfiniteYear 2+ $767
Head to head
Frequently asked questions
Is the American Express Gold Rewards Card worth it?
On a family's spending ($3,350 a month, points at their cash value), it's worth $995 in year 1 and $395 a year after that, after a $250 annual fee. It covers its fee by month 2.
What is the American Express Gold Rewards Card welcome offer?
5,000 points for each month you spend $1,000 in the first year, up to 60,000.
Does the American Express Gold Rewards Card charge foreign transaction fees?
The issuer's page doesn't state its foreign transaction fee, so check the full terms before travelling.
Sources
Rates, fees and offers are set by the issuer and may change. Check the issuer's terms before you apply. We don't estimate approval odds.
Compare it with 39 other cards on the Canadian card comparison or read how cards are valued.