American Express Cobalt® Card vs American Express® Aeroplan®* Card: Which one is better?

American Express Cobalt® Card

More Details

RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

American Express® Aeroplan®* Card

3.3

More Details

RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Rewards Breakdown

Annual Rewards

$1,041.82

American Express Membership Rewards

Welcome Bonus

$315

American Express Membership Rewards

Annual Fee

$155.8

First Year Value

$1,201.02

$886.02 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$506.17

Air Canada Aeroplan

Welcome Bonus

$630

Air Canada Aeroplan

Annual Fee

$120

First Year Value

$1,016.17

$386.17 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included*

Flight Delay

$500

Baggage Delay

$500

Hotel Burglary Insurance

$500

Travel Accident

$250,000

Car Rental Damage & Theft

$85K up to 48 days

Purchase Protection

90 days

Extended Warranty

1 year

Emergency Out of province Medical

$5M/insured Person Up to 15 days

Lost or Stolen Baggage

$500

Mobile Device Insurance

$1000

Insurance Included*

Flight Delay

$500

Baggage Delay

$500

Hotel Burglary Insurance

$500

Travel Accident

$250,000

Car Rental Damage & Theft

$85K up to 48 days

Purchase Protection

90 days

Extended Warranty

1 year

Extra Benefits*

American Express Experiences

Extra Benefits*

American Express Experiences

Free first checked bag

You and up to 8 companions every time you fly with Air Canada

Status lift

Reach Aeroplan Elite™ Status sooner by earning Status Qualifying Miles and Status Qualifying Segments with purchases made on your account

Free Extra Night at Hotels

Receive an extra night free for every 3 hotel nights redeemed with Aeroplan points

Extra points

Earn points twice at over 150 Aeroplan partner brands

Interest Rates*

Purchase:

21.99%¹

Cash Advance:

21.99%¹

Interest Rates*

Purchase:

30% Annual²

Cash Advance:

30% Annual²

Annual Fee*

$155.8

Annual Fee*

$120

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus*

Earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in purchases on your Card in the first Year

Welcome Bonus*

Earn 30,000 Aeroplan points after spending $3,000 on your Card within the first 3 months. Additional 20,000 Aeroplan points when you spend $1,000 in month 13.

Rewards Rate*

5x points per $1 spent in Restaurants, Fast Foods, Coffee Shops, Food delivery and Groceries up to 12500 points monthly
3x points per $1 spent on eligible streaming subscriptions in Canada
2x points per $1 spent in standalone gasoline stations, Amex Travel online, travel services or local commuter transportation in Canada including ride share services
1x point per $1 spent on all other purchases

Rewards Rate*

2 points on Aircanada and AirCanada Vacations
1.5 points on Dining
1 Point on everything else

Loyalty Program*

American Express Membership Rewards

Loyalty Program*

Air Canada Aeroplan

Point Redemption Options*

Most Optimal

Transfer to Airline Partners

2.1¢ / point

Gift Cards

0.765¢ / point

Fixed Point Travel Program

1.66¢ / point

Transfer to Hotel Partners

1.66¢ / point

Statement Credits

1¢ / point

Amazon.ca

0.7¢ / point

Merchandise

0.63¢ / point

Point Redemption Options*

Most Optimal

Transfer to Airline Partners

2.1¢ / point

Gift Cards

0.765¢ / point

Travel

0.825¢ / point

Is this card worth it?

This card was voted the Best Credit Card in Canada by FinlyWealth. The rewards earned on this card for a person with average spending exceed those of other credit cards in Canada by a huge margin! In addition, the card has good benefit coverage, making it the best candidate to become the main credit card for the majority of people.

Is this card worth it?

This card comes with the free checked bag benefit, which can save hundreds on a single trip for you and your family, more than making up for the annual fee of the card. In addition, the card helps you reach the next Aeroplan Status faster with spending on the card. However, if you don't have a specific use for these two benefits, there are many better cards in terms of benefits and rewards.

Pros

Generous welcome bonus of up to 15,000 points
4 different ways of redeeming your points for great value
10 different types of insurance, including travel
Often referred to as the Best Credit Card in Canada

Pros

Free checked bag benefit: Every checked bag might cost you $60 - $100 per person on a round trip. The amount you can save in a year if you travel a few times or travel with a few companions can easily be much higher than the annual fee of the card.
If you are interested in a higher Aeroplan Status, the card helps you get there faster.

Cons

Less acceptance of American Express at different merchants across Canada
Not all types of travel insurance are covered, especially trip cancellation and interruption insurance

Cons

The main reward category is only for Air Canada purchases. Unless you are a frequent Air Canada traveler, this reward category is not useful to most people.
The only other rewards category offered is for food, and it doesn't offer that high of a reward rate either.
In terms of insurance benefits, the types and coverage amounts provided are lower compared to other cards with a similar annual fee.

Other Comparisons

vs TD Aeroplan® Visa Infinite* Card

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vs Rogers Red World Elite® Mastercard®

vs Walmart Rewards™ Mastercard®

vs Walmart Rewards™ World Mastercard®

vs American Express Gold Rewards Card®

vs Neo Credit Card

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vs Simplii Financial™ Cash Back Visa* Card

vs American Express® Green Card

vs PC World Elite Mastercard

vs MBNA Rewards World Elite® Mastercard®

vs Scotia Momentum® Visa Infinite* Card

TD® Aeroplan® Visa Infinite Privilege* Credit Card

vs TD® Aeroplan® Visa Infinite Privilege*

vs SimplyCash™ Preferred Card from American Express

vs Amazon.ca Rewards Mastercard®

vs Tangerine Money-Back Credit Card

vs BMO CashBack® World Elite® Mastercard®

vs CIBC Costco Mastercard

vs Scotia Momentum® Visa* Card

vs American Express® Aeroplan®* Reserve Card

vs SimplyCash® Card from American Express

vs American Express Platinum Card®

Other Comparisons

vs TD Aeroplan® Visa Infinite* Card

vs Scotiabank Gold American Express® Card

vs Scotiabank Passport® Visa Infinite* Card

vs Rogers Red World Elite® Mastercard®

vs American Express Gold Rewards Card®

vs American Express® Green Card

vs MBNA Rewards World Elite® Mastercard®

vs SimplyCash™ Preferred Card from American Express

vs Amazon.ca Rewards Mastercard®

vs Tangerine Money-Back Credit Card

vs Scotia Momentum® Visa* Card

vs American Express® Aeroplan®* Reserve Card

vs SimplyCash® Card from American Express

vs American Express Platinum Card®

American Express Cobalt® Card vs American Express® Aeroplan®* Card: When to go for one over the other

Annual Fees and Requirements

The American Express Cobalt Card has a slightly higher annual fee compared to the American Express Aeroplan Card. However, neither card imposes specific income requirements, making them accessible to a broad range of users. The annual fee differences may be offset depending on how often you utilize the rewards categories.

Rewards Comparison

The American Express Cobalt Card focuses heavily on food-related categories, offering high rewards on dining, groceries, and streaming services. The Aeroplan Card, meanwhile, centers its rewards on Air Canada purchases and dining. Both offer substantial signup bonuses, but the Cobalt Card provides better ongoing rewards for everyday spending beyond travel.

Reward Redemption Options

One of the key advantages of the Cobalt Card is the ability to transfer points to airline partners, including Aeroplan, which enhances its flexibility and makes it a superior choice even compared to the Aeroplan Card. In addition, the Cobalt offers other redemption options such as cash back, travel, and gift cards. The Aeroplan Card primarily focuses on Aeroplan-related travel redemptions, limiting its versatility.

Benefits and Insurance

Both cards provide solid insurance coverage, including travel and purchase protection. However, the Aeroplan Card offers a unique benefit of free checked bags on Air Canada flights, which can save frequent flyers significant amounts. In contrast, the Cobalt Card’s benefits are better suited to everyday use, but it doesn’t match the travel perks of the Aeroplan Card.

Conclusion

The American Express Cobalt Card is best for those who want maximum flexibility and strong rewards across multiple categories, including the option to transfer points to Aeroplan and other airline partners. This makes it a better choice for most users. On the other hand, the Aeroplan Card is ideal for frequent Air Canada travelers who can take advantage of specific travel benefits like the free checked bag perk.

Annual Fees and Requirements
Rewards Comparison
Reward Redemption Options
Benefits and Insurance
Conclusion

Legal

^*American Express is not responsible for maintaining or monitoring the accuracy of information on this website. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment. Check for full details and current product information.

¹ If you have 2 separate missed Payments, the applicable rates for your account will be 25.99%. If you have 3 or more separate missed payments, the applicable rates will be 28.99%.

² As a Charge Card, the balance must always be paid in full each month. 30% annual interest rate applies to balances not paid in full. Payments must be received and processed by the date of the next monthly statement to avoid interest charges.