How to Earn Over $1000 by Paying Rent With an American Express Credit Card
19 juin 2024
Written by
Written by
Diamond Noul (Chexy Staff)
Diamond Noul (Chexy Staff)
Table of contents
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American Express is a popular credit card issuer known for its extensive rewards programs and offering some of the most premium credit cards in Canada. Their lineup of credit cards offers various perks, from cashback to travel rewards, making them an attractive option for many consumers.
The more premium cards in the lineup often come with lucrative sign-up bonuses and high Minimum Spend Requirements in the first 3 months. This makes it hard for an average consumer to earn those bonuses. That is before you could pay rent with your AMEX!
With Chexy's latest release, you can now pay rent with any Canadian American Express card and take advantage of their rewards on your biggest monthly expense.
In this blog post, we'll be exploring which American Express credit cards offer the most value for your rent payment, based on a monthly rent of $2000 and taking into account AMEX's current sign-up bonuses:
American Express Platinum Card
The American Express Platinum Card is the crème de la crème of Canadian AMEX cards, offering unparalleled travel benefits. Cardholders enjoy premium lounge access, a $200 annual travel credit, and automatic mid-tier Gold Elite status with Marriott Bonvoy, Hilton Honors, and Radisson Rewards.
In addition to these travel perks, the Platinum Card rewards cardholders with 2 rewards points per dollar spent on dining and 2 points per dollar spent on travel, with 1 point on all other eligible card purchases, including rent payments made through Chexy.
It's important to note that the Platinum Card comes with a $799 annual fee, but the potential rewards can far outweigh this cost. The card offers an incredible sign-up bonus of 80,000 points upon spending $10,000 in net purchases within the first three months. With Chexy, cardholders can easily reach this spending threshold by simply paying their rent with that card!
Valuing AMEX points at 2.2 cents per point due to their incredible conversion to Aeroplan and British Airways Avios, here's an example of the potential value of paying $2,000 in rent with Chexy using an Amex Platinum Card for a year:
Sign-up bonus points value: $1,760
Annual rent points value: $528
Annual travel credit: $200
Less: Annual fee $799
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $1,269
Learn more about the American Express Platinum card here.
American Express Aeroplan Reserve Card
The Aeroplan Reserve Credit Card by American Express is a top-tier travel credit card that offers exceptional benefits and rewards for frequent flyers with Air Canada. American Express cardmembers can enjoy exclusive access to premium lounges, an annual buddy pass, and a fast-tracked way of earning an Aeroplan Elite Status.
In addition to these premium travel perks, the Aeroplan Reserve Credit Card rewards cardholders with 3 Aeroplan points per dollar spent on Air Canada purchases, 2 Aeroplan points per dollar spent on dining and food delivery, and 1.25 Aeroplan points per dollar spent on all other purchases.
While the Aeroplan Reserve Credit Card has a $599 annual fee, the rewards and benefits more than make up for the cost. For example, new cardholders can earn up to 90,000 welcome bonus points upon meeting the minimum spending requirement within the first three months of opening the account. With Chexy, cardholders can easily earn this bonus of $1,980 by using their card to pay their rent.
To give you an idea of the potential value of the Aeroplan Reserve Credit Card, let's take a look at the following example:
Given each Aeroplan point is worth 2.1 cents, here's an example of the potential value of paying $2000 in rent with Chexy using this card:
Sign-up bonus points value: $1,980
Annual rent points value: $630
Annual travel credit: $0
Less: Annual fee $599
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $1,591
American Express Gold Card
The American Express Gold Card offers generous rewards and benefits for everyday spending. Cardholders earn 2 reward points per dollar spent on flights, hotels, car rentals, gas, pharmacy, and eligible grocery store purchases, and 1 point per dollar spent on dining to takeout, subscriptions, and shopping, including rent payments through Chexy.
In addition to rewards, the Gold Card offers travel benefits such as travel accident insurance and baggage delay insurance. Cardholders also receive access to exclusive events and experiences, such as advance tickets for concerts and shows.
The annual fee for the Gold Card is $250, significantly less than the Platinum Card. However, the Gold Card still offers a great sign-up bonus of 60,000 Membership Rewards points for each monthly billing period in which you spend at least $1,000. With Chexy, cardholders will easily surpass this spending threshold by using the card to pay their rent.
Valuing AMEX points at 2.2 cents per point, here's an example of the potential value of paying $2,000 in rent with Chexy using an Amex Gold Card for a year:
Sign-up bonus points value: $1,320
Annual rent points value: $528
Annual travel credit: $100
Less: Annual fee $250
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $1,278
American Express Aeroplan Card
The American Express Aeroplan Card is a travel credit card that offers strong rewards and benefits for frequent Air Canada travellers but has a cheaper annual fee than the AMEX Aeroplan Reserve Card.
The Aeroplan American Express Card offers 2 Aeroplan points per dollar spent on eligible Air Canada purchases and 1.5 Aeroplan points per dollar spent on eligible dining and food delivery purchases. Cardholders can also earn 1 Aeroplan point per dollar spent on all other purchases, including rent payments made through Chexy.
The card's annual fee is a smaller $120, but this fee is easily offset by the valuable rewards and benefits offered. For example, new cardholders can earn up to 45,000 bonus Aeroplan points upon meeting the minimum spending requirement within the first six months of opening the account. With Chexy, cardholders can easily earn this bonus by using their card to pay their rent.
Here's an example of the potential rewards that can be earned when you use the Aeroplan American Express Card:
Sign-up bonus points value: $990
Annual rent points value: $504
Less: Annual fee $120
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $954
American Express Cobalt Card
The American Express Cobalt Card is one of the best rewards cards among young Canadians who are looking for a great everyday credit card. This card offers a unique rewards program that allows cardholders to earn points on a wide range of purchases, including dining, groceries, transportation, and travel.
While the card does come with a $12.99 monthly fee ($155.88 annually), cardholders can earn 5 Membership Rewards points per dollar spent on groceries, restaurants, bars, cafes, and food delivery services in Canada. Additionally, they can earn 3 Membership Rewards points per dollar spent on eligible streaming subscriptions, plus 2 points on travel and transit, including taxis, public transportation, and gas stations. The Cobalt Card also offers 1 Membership Rewards point per dollar spent on all other eligible purchases, making it a great option for everyday spending.
New cardholders can earn up to 15,000 Membership points when they spend over $750 every month. With Chexy, cardholders can easily earn this bonus by using their card to pay their rent.
Here's an example of the potential rewards that can be earned with the Cobalt Card:
With each Amex point worth 2.2 cents, here's the breakdown of the potential rewards for a year of spending:
Sign-up bonus points value: $330
Annual rent points value: $528
Less: Annual fee $155.88
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $182.12
Learn more about the Cobalt Amex credit card here.
American Express SimplyCash Preferred Card
For those looking to take advantage of cashback instead of points, the American Express SimplyCash Preferred Card is a great card that offers a high earning rate on everyday purchases. Cardholders earn 4% cash back on gas and groceries, and 2% on everything else, including rent payments made through Chexy.
In addition to cashback rewards, the SimplyCash Preferred Card offers valuable travel benefits such as travel accident insurance, car rental theft and damage insurance, and emergency medical insurance. Cardholders also receive access to exclusive experiences and events, such as advance tickets for concerts and shows.
The card comes with a $9.99 monthly fee ($199.88 annually); however, you can earn $200 in statement credits when you earn a bonus 10% cash back on all purchases within the first three months. Plus, earn a $50 statement credit when you make a purchase in month 13. With Chexy, cardholders can easily earn this bonus by using the card to pay their rent.
Based on the sign-up bonus and cashback incentives, below is the potential value of paying $2,000 in rent with Chexy using this Amex card:
Sign-up bonus points value: $250
Annual rent points value: $480
Annual travel credit: $0
Less: Annual fee $119.88
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $190.12
When it comes to earning rewards on rent payments, there are several American Express credit cards that offer great opportunities. The best card for you depends on your spending habits and your travel and lifestyle preferences. Universally, however, by using Chexy to pay rent with your American Express credit cards, you are meeting the minimum spend requirements to earn your bonuses and continuously getting hundreds of points every month that you can use to fund your next vacation.
Before applying for any credit card, make sure to read the terms and conditions carefully and consider the annual fees, interest charges, transaction fees, and other fees associated with the card. It is also important to use credit cards responsibly and pay off your credit card balance on time to avoid interest charges and potential damage to your Canadian credit file.
Subscribe to our newsletter below for up-to-date credit card, travel, and rental content.
American Express is a popular credit card issuer known for its extensive rewards programs and offering some of the most premium credit cards in Canada. Their lineup of credit cards offers various perks, from cashback to travel rewards, making them an attractive option for many consumers.
The more premium cards in the lineup often come with lucrative sign-up bonuses and high Minimum Spend Requirements in the first 3 months. This makes it hard for an average consumer to earn those bonuses. That is before you could pay rent with your AMEX!
With Chexy's latest release, you can now pay rent with any Canadian American Express card and take advantage of their rewards on your biggest monthly expense.
In this blog post, we'll be exploring which American Express credit cards offer the most value for your rent payment, based on a monthly rent of $2000 and taking into account AMEX's current sign-up bonuses:
American Express Platinum Card
The American Express Platinum Card is the crème de la crème of Canadian AMEX cards, offering unparalleled travel benefits. Cardholders enjoy premium lounge access, a $200 annual travel credit, and automatic mid-tier Gold Elite status with Marriott Bonvoy, Hilton Honors, and Radisson Rewards.
In addition to these travel perks, the Platinum Card rewards cardholders with 2 rewards points per dollar spent on dining and 2 points per dollar spent on travel, with 1 point on all other eligible card purchases, including rent payments made through Chexy.
It's important to note that the Platinum Card comes with a $799 annual fee, but the potential rewards can far outweigh this cost. The card offers an incredible sign-up bonus of 80,000 points upon spending $10,000 in net purchases within the first three months. With Chexy, cardholders can easily reach this spending threshold by simply paying their rent with that card!
Valuing AMEX points at 2.2 cents per point due to their incredible conversion to Aeroplan and British Airways Avios, here's an example of the potential value of paying $2,000 in rent with Chexy using an Amex Platinum Card for a year:
Sign-up bonus points value: $1,760
Annual rent points value: $528
Annual travel credit: $200
Less: Annual fee $799
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $1,269
Learn more about the American Express Platinum card here.
American Express Aeroplan Reserve Card
The Aeroplan Reserve Credit Card by American Express is a top-tier travel credit card that offers exceptional benefits and rewards for frequent flyers with Air Canada. American Express cardmembers can enjoy exclusive access to premium lounges, an annual buddy pass, and a fast-tracked way of earning an Aeroplan Elite Status.
In addition to these premium travel perks, the Aeroplan Reserve Credit Card rewards cardholders with 3 Aeroplan points per dollar spent on Air Canada purchases, 2 Aeroplan points per dollar spent on dining and food delivery, and 1.25 Aeroplan points per dollar spent on all other purchases.
While the Aeroplan Reserve Credit Card has a $599 annual fee, the rewards and benefits more than make up for the cost. For example, new cardholders can earn up to 90,000 welcome bonus points upon meeting the minimum spending requirement within the first three months of opening the account. With Chexy, cardholders can easily earn this bonus of $1,980 by using their card to pay their rent.
To give you an idea of the potential value of the Aeroplan Reserve Credit Card, let's take a look at the following example:
Given each Aeroplan point is worth 2.1 cents, here's an example of the potential value of paying $2000 in rent with Chexy using this card:
Sign-up bonus points value: $1,980
Annual rent points value: $630
Annual travel credit: $0
Less: Annual fee $599
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $1,591
American Express Gold Card
The American Express Gold Card offers generous rewards and benefits for everyday spending. Cardholders earn 2 reward points per dollar spent on flights, hotels, car rentals, gas, pharmacy, and eligible grocery store purchases, and 1 point per dollar spent on dining to takeout, subscriptions, and shopping, including rent payments through Chexy.
In addition to rewards, the Gold Card offers travel benefits such as travel accident insurance and baggage delay insurance. Cardholders also receive access to exclusive events and experiences, such as advance tickets for concerts and shows.
The annual fee for the Gold Card is $250, significantly less than the Platinum Card. However, the Gold Card still offers a great sign-up bonus of 60,000 Membership Rewards points for each monthly billing period in which you spend at least $1,000. With Chexy, cardholders will easily surpass this spending threshold by using the card to pay their rent.
Valuing AMEX points at 2.2 cents per point, here's an example of the potential value of paying $2,000 in rent with Chexy using an Amex Gold Card for a year:
Sign-up bonus points value: $1,320
Annual rent points value: $528
Annual travel credit: $100
Less: Annual fee $250
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $1,278
American Express Aeroplan Card
The American Express Aeroplan Card is a travel credit card that offers strong rewards and benefits for frequent Air Canada travellers but has a cheaper annual fee than the AMEX Aeroplan Reserve Card.
The Aeroplan American Express Card offers 2 Aeroplan points per dollar spent on eligible Air Canada purchases and 1.5 Aeroplan points per dollar spent on eligible dining and food delivery purchases. Cardholders can also earn 1 Aeroplan point per dollar spent on all other purchases, including rent payments made through Chexy.
The card's annual fee is a smaller $120, but this fee is easily offset by the valuable rewards and benefits offered. For example, new cardholders can earn up to 45,000 bonus Aeroplan points upon meeting the minimum spending requirement within the first six months of opening the account. With Chexy, cardholders can easily earn this bonus by using their card to pay their rent.
Here's an example of the potential rewards that can be earned when you use the Aeroplan American Express Card:
Sign-up bonus points value: $990
Annual rent points value: $504
Less: Annual fee $120
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $954
American Express Cobalt Card
The American Express Cobalt Card is one of the best rewards cards among young Canadians who are looking for a great everyday credit card. This card offers a unique rewards program that allows cardholders to earn points on a wide range of purchases, including dining, groceries, transportation, and travel.
While the card does come with a $12.99 monthly fee ($155.88 annually), cardholders can earn 5 Membership Rewards points per dollar spent on groceries, restaurants, bars, cafes, and food delivery services in Canada. Additionally, they can earn 3 Membership Rewards points per dollar spent on eligible streaming subscriptions, plus 2 points on travel and transit, including taxis, public transportation, and gas stations. The Cobalt Card also offers 1 Membership Rewards point per dollar spent on all other eligible purchases, making it a great option for everyday spending.
New cardholders can earn up to 15,000 Membership points when they spend over $750 every month. With Chexy, cardholders can easily earn this bonus by using their card to pay their rent.
Here's an example of the potential rewards that can be earned with the Cobalt Card:
With each Amex point worth 2.2 cents, here's the breakdown of the potential rewards for a year of spending:
Sign-up bonus points value: $330
Annual rent points value: $528
Less: Annual fee $155.88
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $182.12
Learn more about the Cobalt Amex credit card here.
American Express SimplyCash Preferred Card
For those looking to take advantage of cashback instead of points, the American Express SimplyCash Preferred Card is a great card that offers a high earning rate on everyday purchases. Cardholders earn 4% cash back on gas and groceries, and 2% on everything else, including rent payments made through Chexy.
In addition to cashback rewards, the SimplyCash Preferred Card offers valuable travel benefits such as travel accident insurance, car rental theft and damage insurance, and emergency medical insurance. Cardholders also receive access to exclusive experiences and events, such as advance tickets for concerts and shows.
The card comes with a $9.99 monthly fee ($199.88 annually); however, you can earn $200 in statement credits when you earn a bonus 10% cash back on all purchases within the first three months. Plus, earn a $50 statement credit when you make a purchase in month 13. With Chexy, cardholders can easily earn this bonus by using the card to pay their rent.
Based on the sign-up bonus and cashback incentives, below is the potential value of paying $2,000 in rent with Chexy using this Amex card:
Sign-up bonus points value: $250
Annual rent points value: $480
Annual travel credit: $0
Less: Annual fee $119.88
Less: Chexy credit card fees: $420
Net value of rewards after 1 year: $190.12
When it comes to earning rewards on rent payments, there are several American Express credit cards that offer great opportunities. The best card for you depends on your spending habits and your travel and lifestyle preferences. Universally, however, by using Chexy to pay rent with your American Express credit cards, you are meeting the minimum spend requirements to earn your bonuses and continuously getting hundreds of points every month that you can use to fund your next vacation.
Before applying for any credit card, make sure to read the terms and conditions carefully and consider the annual fees, interest charges, transaction fees, and other fees associated with the card. It is also important to use credit cards responsibly and pay off your credit card balance on time to avoid interest charges and potential damage to your Canadian credit file.
Subscribe to our newsletter below for up-to-date credit card, travel, and rental content.