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Metal Credit Cards in Canada: Should You Get One?

To the point Many institutions now offer metal credit cards but are they worth it? Here's why you should subscribe or not a credit card in metal.

Over the years, credit cards have become a status symbol in personal finance and consumerism. Who could forget the countless movies where credit cards were used by wealthy people without a care in the world? In one way or another, the company or type of credit card you owned gave you some sense of superiority and exclusivity.

The epitome of status and privilege in the credit card game is the metal credit card – cards offered by credit card companies in various metals, including brass, steel, gold and platinum. The sleek, crisp design was once offered on an invitation-only basis to people back in the late 90s with the American Express Centurion Card. Fortunately, now that more players are offering metal credit cards, they are accessible to more people than ever.

With this option available to the public, the credit card experience just got better.

You may be surprised to learn that there is much more to the metal credit card than the trendy experience it provides; If you are eligible for one, you may have access to the highest and most exclusive rewards and benefits.

The question in all of this is, should you get one? This article will help you make that decision.

Differences Between a Metal Credit Card and a Traditional Credit Card

Despite the increased accessibility of the metal credit card, it is still viewed as a symbol of success and privilege. Just imagine the high one must feel when paying for things like food at a swanky restaurant. The feeling certainly boosts your ego.

Are metal credit cards better? From a user standpoint, there isn’t really much of a difference between metal and traditional credit cards. Each card offers a host of features you can use to your benefit. You will find, however, that many metal credit cards require you to spend between $200-$700 on an annual fee while having a high personal income to qualify. Among other things (i.e. high credit score), you should keep these in mind before applying with your credit card provider.

Visually, the metal card, for obvious reasons, is much heavier than a traditional plastic card with some going as heavy as 28.5g. Because of its material, the metal credit card is much more difficult to dispose of. Want to use scissors to cut them? Good luck. How about a shredder? Do that, and you might have to make a trip to your local supplies store for a new shredder. It is best to send it to your credit card provider and have them safely terminate your card if you really need to.

Lastly, you don’t have to do anything special to get a metal credit card. Similar to traditional cards, you apply, qualify and get sent your card in the mail. You should be aware of the cards available, which is what we’ll get to in the next section.

Examples of Metal Credit Cards in Canada

The following list will look at some of the best metal credit cards in Canada today.

1. American Express Platinum Card®

Minimum personal income: $0

Annual fee: $699

Great for: Travel, dining, everyday purchases

If you want to get started with a metal credit card, look no further than the American Express Platinum Card! American express cards incredibly generous when it comes to its bonus points.

The Platinum Card® is the Best Premium Travel Card in Canada.

Earn up to 80,000 Membership Rewards points with this welcome offer:

  • 60,000 points after $6,000 in Card purchases within the first 3 months
  • Plus, earn 20,000 points when you make a purchase between 14 and 17 months of Cardmembership

With this card, you get:

  • 3 points per dollar on dining purchases
  • 2 points per dollar on travel purchases
  • 1 point per dollar on all other purchases

You can use your Membership Rewards points in many ways:

  • Transfer your points to airline partners (Aeroplan, British Airways Executive Club, Delta Skymiles, Flying Blue, etc.)
  • Transfer points to hotel programs (Hilton Honors, Marriott Bonvoy)
  • Redeem points for statement credits to offset any travel purchase charged to your Card (1,000 points = $10)
  • Redeem points for statement credits towards other purchases (1,000 points = $10)
  • And more!

With this card, you also have advantages for your travels:

  • $200 Annual Travel Credit
  • $100 NEXUS Card Statement Credit
  • Complimentary and unlimited access for you and one additional traveller to over 1,200 airport lounges worldwide
  • Hilton Honors Gold Elite status (complimentary breakfast at all Hilton hotels)
  • Marriott Bonvoy Gold Elite status
  • Access to the Fine Hotels & Resorts program

Finally, the Platinum Card® comes with premium insurance: Car Rental Theft and Damage, $500,000 Travel Accident, Emergency medical insurance (outside the province or country), Lost or Stolen Baggage, Flight delay insurance and misdirected baggage, Hotel or motel burglary, Purchase Protection® Plan, Buyer’s Assurance® Protection Plan.

Like all American Express Canada Cards, there is no minimum income requirement.

If you want to learn more about this card, visit our webpage for a detailed breakdown!

2. American Express® Gold Rewards Card

Minimum personal income: $0

Annual fee: $250

Great for: Travel, hotel, dining

Let’s say you want a lower annual fee card but still offer great bonuses. The American Express® Gold Rewards Card still gives you the awesome benefits of a metal credit card without sacrificing too much on fees.

Earn up to 50,000 Membership Rewards points with this welcome offer for the American Express® Gold Rewards Card:

  • 40,000 points after $3,000 in Card purchases within the first 3 months
  • Plus, earn an additional 10,000 points when you make a purchase between 14 and 17 months of Cardmembership

With this Card, you get many benefits like:

  • $100 annual travel credit
  • Priority Pass membership and 4 complimentary Plaza Premium visits per year
  • $50 NEXUS credit

You earn 2 points per dollar for travel purchases, and at:

  • gas stations
  • grocery stores
  • drugstores

And 1 point per dollar everywhere else.

Like all American Express Canada Cards, there is no minimum income requirement.

Want to learn more? We have an article on this incredible card that you would love!

3. TD® Aeroplan® Visa Infinite Privilege* Credit Card

Minimum personal income: $150,000

Annual fee: $599

Great for: Air Canada, Travel, hotel, lifestyle

This card is the Best Aeroplan Visa Credit Card. You’ll enjoy many benefits when travelling with Air Canada.

With the TD® Aeroplan® Visa Infinite Privilege* Credit Card, you can earn up to 105,000 Aeroplan points:

  • 20,000 Aeroplan points when you make your first purchase with your new card
  • 30,000 Aeroplan points when you spend $3,000 within 90 days of account opening
  • 55,000 Aeroplan points when you spend $12,000 within 12 months of account opening
  • $100 NEXUS fee rebate
  • Access to Air Canada Maple Leaf lounge
  • 6 annual visits to airport lounge members of the Visa Airport Companion Program hosted by Dragonpass International Ltd.
  • Up to eight passengers travelling on the same reservation will all enjoy their first checked bag free (up to 23kg/50lb) when your travel originates on an Air Canada flight

It’s the best TD credit card for Air Canada frequent flyers.

With the TD® Aeroplan® Visa Infinite Privilege* Credit Card, you earn 1.5 points per dollar for:

  • Grocery stores
  • Gas stations
  • travel purchases
  • Dining purchases

And 2 points† for every $1 spent on Air Canada purchases, including Air Canada Vacations. Everywhere else, you’ll get 1.25 points† per dollar.

4. BMO eclipse Visa Infinite Privilege Card*

Minimum personal income: $150,000

Annual fee: $499

Great for: Travel, hotel, lifestyle

This card is definitely named appropriately for those seeking privilege in their credit card experience. The BMO eclipse Visa Infinite Privilege Card* – also known as BMO’s most expensive credit card, offers some great incentives to cardholders that are unique to this card alone.

The BMO eclipse Visa Infinite Privilege Card* is a premium metal card! With this card , you can earn up to 90,000 BMO Rewards points:

  • 50,000 points when you spend $6,000 in the first 3 months
  • 40,000 points twelve months after the Credit Card account open date after you spend a minimum of $100,000 within the first twelve months

Plus, you’ll get a $200 annual lifestyle credit – per calendar year – to spend however you want. As well as a Visa Airport Companion membership with 6 complimentary airport lounge visits per year.

With this Card, you earn 5 BMO Rewards points per dollar of purchases for:

  • Groceries
  • Gas
  • Drugstores
  • travel purchases
  • Dining
  • Food delivery

And 1 BMO Rewards point for every $1 spent on everything else.

If you think you may qualify, read more about the amazing rewards on this card.

5. American Express®* Aeroplan® Reserve Card

Minimum personal income: $0

Annual fee: $599

Great for: Air Canada, Travel, hotel, lifestyle

This card is the Best Aeroplan American Express Credit Card. You’ll enjoy many benefits when travelling with Air Canada.

With this welcome offer for the American Express®* Aeroplan® Reserve Card, you can earn up to 85,000 Aeroplan points. Here’s how:

  • 55,000 Aeroplan points after $6,000 in Card purchases within the first 6 months
  • 5,000 Aeroplan points for each monthly billing period in which you spend $1,000 in purchases on your Card for the first 6 months. That’s up to 30,000 Aeroplan Points

With this Card, you earn 3X the points on purchases made directly with Air Canada and Air Canada Vacations. And 2x the points on Dining and Food Delivery purchases in Canada. Everywhere else, you will earn 1.25X the points.

With this Card, you receive many Air Canada travel benefits such as access to Maple Leaf Lounges in North America for you and one guest, priority check-in, priority boarding and priority baggage handling.

Enjoy your first checked bag free (up to 23kg/50lb) for up to 9 people travelling on the same reservation on Air Canada®* flights.

And you can get a FREE Uber Pass membership for 12 months.

Like all American Express Canada Cards, there is no minimum income requirement.

Conclusion: Are Metal Credit Cards Worth It?

If you satisfy the qualifications to receive a metal credit card, then it can certainly be worth it. But please keep in mind: Credit cards don’t ever change just because one doesn’t come in plastic anymore. Sure, they look good but the opportunity cost may not all be there, especially when you consider the high annual fees. You still have to be responsible and make sure you don’t get yourself into a financial mess.

As you can tell from our shortlist, there are a bunch of different cards that offer amazing benefits and speak to your diverse needs. Take the time to review all of the cards out there before making a decision on metal credit cards.

Come to discuss that topic in our Facebook Group!

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