compuease;374576 wroteTrouble is, who takes Amex these days? Other issue is, can you cancel before the year is up, ie before the $150. per year fee?
pokerJAH;375521 wroteYes, pretty sure you can cancel anytime with any card. You might lose any points that are unused.
You can definitely cancel before incurring the yearly fee. Actually, people on forums I read have reported that you can even call and cancel and get the fee back if you accidentally forget to cancel in time.
You might lose the points, as pokerJAH said, but not if you just transfer to Aeroplan (1:1) before cancelling.
As for who takes Amex - like moose said - most places. Importantly, all gas stations do: you get double points on gas. Double points on groceries too, though Loblaws branded stores don't take it (which sucks because I do most of my shopping at no frills) since they want you to use their PC Mastercard. The PC Mastercard
is a very good rewards program for a free card though so it's not really a loss.