Status: checked against official sources; automated independent review
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GUIDE
Canadian card points earning rates compared
Canadian card points earning rates are the number of points a Canada-issued rewards card pays for each dollar of eligible spending, normally quoted as one base rate plus higher rates in named categories. American Express Canada, for example, publishes 3 points per $1 on eligible purchases made directly with Air Canada and 1.25 points per $1 on other purchases for its Aeroplan Reserve card. [1]
Facts checked: 18 October 2026
Key takeaways
- Published rates are quantities of points per dollar, so two cards can only be ranked after each currency is given a value. American Express Canada fixes one conversion itself: 1,000 Membership Rewards points buys a $10 statement credit. [1]
- Category rates arrive with conditions. The Cobalt card's 5-point categories share a $2,500 monthly cap and then pay 1 point per $1. [1]
- RBC Royal Bank of Canada presents its welcome offers with dollar values attached: on its card index, up to 70,000 Avion points is described as a travel value of up to $1,500. [2]
What are the published earning rates for Canadian points cards?
American Express Canada sets out each card as a base rate plus category rates, and notes that Aeroplan points have no cash value but are redeemable under the Aeroplan programme for flights and other rewards. [1] The table keeps each rate with the cap or condition attached to it. [1]
| Card | Base rate | Higher rates | Cap or condition |
|---|---|---|---|
| American Express Cobalt Card | 1 point per $1 | 5 points per $1 at restaurants, quick-service restaurants, coffee shops and drinking establishments in Canada, stand-alone grocery stores in Canada, and food and grocery delivery in Canada; 3 points per $1 on eligible streaming subscriptions; 2 points per $1 at stand-alone gas stations and on local commuter transport | The three 5-point categories share a combined $2,500 in net purchases posted each month, then 1 point per $1; the calculation resets on the 1st of each month [1] |
| American Express Gold Rewards Card | 1 point per $1 | 2 points per $1 at stand-alone gas stations, drugstores and grocery stores in Canada, and on travel services or travel bookings | 1 point per $1 applies where the merchant code is not in an eligible category, or where the purchase is made with an electronic wallet or not directly from the provider [1] |
| American Express Aeroplan Reserve Card | 1.25 points per $1 | 3 points per $1 on eligible purchases made directly with Air Canada; 2 points per $1 at restaurants, quick-service restaurants, coffee shops, drinking establishments and food delivery in Canada | Air Canada tickets bought through another website, a travel agent including American Express Travel Services, or another merchant do not qualify, and neither do Air Canada gift cards or Maple Leaf Club memberships [1] |
| Marriott Bonvoy American Express Card | 2 points per $1 | 5 points per $1 at participating Marriott Bonvoy properties, standalone Marriott Bonvoy retail locations and Marriott-branded online stores | 2 points per $1 applies where the merchant code is not in an eligible category [1] |
| American Express Green Card | 1 point per $1 | None published | Interest charges, fees and cash equivalent transactions are not purchases [1] |
Two cards on the same page pay cash back as a percentage of spend rather than points: the SimplyCash card pays 2% at stand-alone gas stations and grocery stores in Canada, capped at $15,000 in purchases a year (equal to $300 cash back) and 1.25% afterwards, and the SimplyCash Preferred card pays 4% on the same categories, capped at $30,000 a year (equal to $1,200) and 2% afterwards. [1] Their rates are percentages of spend rather than points, so they sit outside a points-per-dollar comparison. [1]
How do you normalize earning rates across points currencies?
Points per dollar counts points, not value. To put two currencies on one footing, multiply the points per dollar by a value for one point, and make sure the value you use comes from a source or is stated openly as your own assumption. [1] [2]
American Express Canada fixes one anchor: through Use Points for Purchases, 1,000 Membership Rewards points buys a $10 statement credit, with a minimum of 1,000 points per redemption. [1] The same page offers a second, non-fixed anchor for Aeroplan: it says the majority of current Aeroplan cardmembers were receiving $0.02 per point or more when redeeming for a flight, as of 1 September 2025, a figure calculated from redemptions made between 8 November 2020 and 1 September 2025. [1] One is a fixed statement-credit ratio; the other describes flight redemptions, so they belong in separate calculations. [1]
RBC Royal Bank of Canada describes Avion points as redeemable for travel, merchandise and gift cards at avionrewards.com, and WestJet dollars, Avios and Asia Miles as redeemable directly with the airline programme connected to the card. [2] Its card index gives welcome-offer values in dollars — up to 70,000 Avion points described as a travel value of up to $1,500 on the Avion Visa Infinite, and up to 70,000 WestJet points described as up to $700 off travel on the WestJet RBC World Elite Mastercard. [2] These describe specific welcome offers, and the Avion Visa Infinite offer carries an apply-by date of 25 November 2026. [2]
A transfer adds a second exchange step. American Express Canada says transfer ratios vary by participant and that transfers can take up to 5 days, while the Cobalt listing on the same page advertises 1:1 transfers to several frequent flyer and other loyalty programmes. [1] Under American Express's U.S. Membership Rewards terms, transfers usually need a minimum of 1,000 points in multiples of 1,000, typically take 48 hours, cannot be reversed, and carry a ratio that varies by partner; transfers to a U.S. airline frequent flyer programme also carry an excise tax offset fee of $0.0006 per point, capped at $99. [10]
How do category caps and merchant coding change the effective rate?
Caps turn a headline rate into a blend. On the American Express Cobalt Card, the 5-point categories stop at a combined $2,500 in net purchases posted each month and pay 1 point per $1 after that, with the calculation resetting on the 1st of each month. [1] On the SimplyCash cards, the top grocery and gas rate stops at $15,000 in purchases a year on the SimplyCash card and $30,000 on the SimplyCash Preferred card, and the calculation resets each year on the cardmembership anniversary date. [1]
Merchant coding decides which rate applies. American Express says merchants are typically assigned codes and categorised by what they sell, and the lower rate applies where the code is not in an eligible category, where a third-party payment account or service is used, where a card reader is attached to a mobile phone, where an online retailer sells other merchants' goods, or where the category is otherwise not identified. [1] On the Gold Rewards Card, the 2-point rate also drops away when the purchase is made with an electronic wallet. [1] Purchases at merchants whose primary business is not gas, grocery, pharmacy or travel — including superstores, wholesale clubs, alcohol retailers and general merchandise retailers — do not qualify for those category rates. [1]
Returns are recalculated at the rate in effect at the time of the return, so the points deducted can differ from the number originally earned. [1] On the Aeroplan Reserve Card's welcome offer, points may also be deducted where a return means the required spend threshold is not reached. [1] Interest charges, annual fees, other fees and cash equivalent transactions are not purchases and do not earn points on these cards. [1]
Exceptions and limits
- Reset schedules differ. The Cobalt card's 5-point categories reset on the 1st of each month, while the SimplyCash cards' category calculations reset on the cardmembership anniversary date. [1]
- Statement-credit redemptions are bounded. A redemption needs at least 1,000 points, and only eligible purchases posted in the last three months, up to the 150 most recent, are shown for redemption. [1]
- Transfers move one way. Points already transferred to a partner loyalty programme cannot be converted back into Membership Rewards points. [10]
- Welcome offers are limited to new cardmembers. American Express says current or former cardmembers of the same card may be approved but will not be eligible for the listed offers. [1]
- This is not a card recommendation. The figures above are the published rates and conditions of the cards named; how a rate fits a particular spending pattern is a separate question. [1] [2]
Frequently asked questions
Is a higher points-per-dollar rate always better?
Only after the point is valued. American Express Canada fixes 1,000 Membership Rewards points at a $10 statement credit, and separately reports $0.02 per point or more for Aeroplan flight redemptions as of 1 September 2025. [1] Because those two anchors take different forms — a fixed statement-credit ratio against a flight-redemption figure — points per dollar on its own does not show which card earns more value. [1]
Do all purchases in a bonus category earn the higher rate?
No. On the Cobalt card the 5-point categories share a $2,500 monthly cap and then pay 1 point per $1, and on the SimplyCash card the 2% grocery and gas rate stops at $15,000 in purchases a year, equal to $300 cash back. [1]
What happens when a merchant's category code is not recognised?
The lower rate applies. American Express quotes 1.25 points per $1 on the Aeroplan Reserve Card, 1 point per $1 on the Cobalt and Gold Rewards cards, and 2 points per $1 on the Marriott Bonvoy card where the code is not in an eligible category. [1]
Can Avion points and Membership Rewards points be compared directly?
Not by points per dollar alone. RBC describes Avion points as redeemable for travel, merchandise and gift cards at avionrewards.com and values one welcome offer at up to $1,500 for up to 70,000 points, while American Express publishes a fixed statement-credit ratio for Membership Rewards. [2] [1]
Sources
Sources checked on 18 October 2026. Covered here are the published rates of the cards named by American Express Canada and the redemption routes and offer values named by RBC. Not covered: the earning rules of the Aeroplan, WestJet Rewards and British Airways Club programmes themselves, hotel points earned from stays, and business or corporate cards.
- American Express Canada credit cards and card footnote terms, checked 18 October 2026
- RBC Royal Bank of Canada credit cards index, checked 18 October 2026
- American Express Membership Rewards program terms and conditions (United States), checked 18 October 2026