I think what most of us that state AMEX is better is because while CIBC (seems to) let you hold 2 of the same card, but they only have 1 card to churn - Aerogold. With AMEX, you really have 4 to 8 cards to churn (depending what value to you) and some of us do hold 4 or 5 of these cards at one time. Along with self / spouse / friend referral bonus, it will build up your points much faster via AMEX over CIBC.