American Express Cobalt® Card vs American Express Gold Rewards Card®
Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.
Welcome bonus
Each offer as the issuer words it. The numbers below show whether your spending reaches it.
The offer
The offer
Earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in purchases on your amex cobalt credit card in the first Year. That's up to 15,000 Membership Rewards® points.
- Earn up to 60,000 Membership Rewards® points
- New American Express® Gold Rewards Cardmembers, earn 5,000 Membership Rewards® points for each monthly billing period in which you spend $1,000 in net purchases on your Card
What each card is worth
Rewards, the welcome bonus and any Finly rebate in, the annual fee and FX fees out, all on your spending.
Worked out on a typical $2,000 a month of spending. Enter yours to see your own numbers.
$1,147
First-year value
$1,427
$787
Every year after
$287
Amex Gold is worth $280 more to you in year one.
From year two, Amex Cobalt pulls ahead by $500 a year.
How the first year adds up
Annual rewards
$979.03
51,528 points a year
Welcome bonus
+ $285
first year only
Annual fee
− $191.88
Finly rebate
paid by FinlyWealth
First-year value
$1,147.15
Annual rewards
$536.71
28,248 points a year
Welcome bonus
+ $1,140
first year only
Annual fee
− $250
First-year value
$1,426.71
Where each card earns
A year of your spending at each card's own reward rates, most first.
5xFood, drinks and groceries in Canada
32,604 pts
$619.48
2xGas, transit & ride share in Canada
4,692 pts
$89.15
3xStreaming subscriptions in Canada
1,440 pts
$27.36
1xAll other purchases
12,792 pts
$243.05
2xGas, Groceries, Pharmacy
9,804 pts
$186.28
2xTravel
2,400 pts
$45.6
1xAll other purchases
16,044 pts
$304.84
Fees, rates and eligibility
What each card costs to hold and to use abroad, and who it's for.
Annual fee
Additional cards
Interest rates
Interest rates
Purchase:
21.99%1
Cash Advance:
21.99%1
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 29.99%.
Purchase:
21.99%2
Cash Advance:
21.99%2
2 Subject to approval. The preferred rate for purchases is 21.99% and funds advances is 21.99%. If you have Missed Payments, the applicable rates for your account will be 25.99% and/or 29.99%. See the information box included with the application for the definition of Missed Payment and which rates apply to charges on your account and other details.
Recommended credit score
Recommended credit score
Income required
Income required
Min Personal Income:
N/A
Min Household Income:
N/A
Min Personal Income:
N/A
Min Household Income:
N/A
How each card earns
The earn rates and caps, as each issuer sets them.
- 5x points per $1 spent on eligible eats and drinks in Canada, including groceries and food delivery (up to 12,500 points per month)
- 3x points per $1 spent on eligible streaming subscriptions in Canada
- 2x points per $1 spent on eligible gas, transit & ride share in Canada
- 1x point per $1 spent on all other purchases
- 2x points per $1 spent on gas, groceries and drugstore purchases
- 2x points per $1 spent on travel (eligible flights, hotels, tours and more)
- 1x point per $1 spent on all other eligible purchases
Points and how we value them
Points become dollars at each card's best redemption. Here's the value we used, and every other way to spend them.
Loyalty program
Loyalty program
We count each point at 1.9¢ a point, what it's worth redeemed for Transfer to Airline Partners, its best value. Every dollar figure above uses that value.
We count each point at 1.9¢ a point, what it's worth redeemed for Transfer to Airline Partners, its best value. Every dollar figure above uses that value.
Point redemption options
Point redemption options
Most Optimal
Transfer to Airline Partners
1.9¢ / point
Fixed Point Travel Program
1.16¢ / point
Transfer to Hotel Partners
1.08¢ / point.svg)
Flexible Points Travel Program
1¢ / point
Statement Credits (Cash)
1¢ / point
Gift Cards
0.91¢ / point
Amazon.ca
0.7¢ / point
Merchandise
0.63¢ / point
Most Optimal
Transfer to Airline Partners
1.9¢ / pointFixed Point Travel Program
1.16¢ / pointTransfer to Hotel Partners
1.08¢ / pointFlexible Points Travel Program
1¢ / pointStatement Credits (Cash)
1¢ / pointGift Cards
0.91¢ / pointAmazon.ca
0.7¢ / pointMerchandise
0.63¢ / point
Insurance and perks
What both cards include comes first in each list.
Insurance
Insurance
Lost or Stolen Baggage
$500
Baggage Delay
$500.svg)
Car Rental Damage & Theft
yes
Common Carrier Travel Accident Insurance
$250,000
Extended Warranty
1 year
Purchase Protection
90 days
Hotel Burglary Insurance
$500
Travel Medical Insurance (64 & under)
15 days, up to $5M (if under age 65)Flight Delay
$500
Mobile Device Insurance
$1,000
Lost or Stolen Baggage
$500Baggage Delay
$500Car Rental Damage & Theft
yesCommon Carrier Travel Accident Insurance
$500,000Extended Warranty
Up to 1 yearPurchase Protection
90 daysHotel Burglary Insurance
$500Travel Medical Insurance (64 & under)
15 daysFlight Delay
$500
Trip Cancellation
$1,500 per person, $3,000 combined
Trip Interruption
$1,500 per person, $6,000 combined
Perks
Perks
Amex Experiences™
Access Front Of The Line® Amex Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with Amex Experiences™
American Express® Experiences
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Status lift
Hertz Gold Plus Rewards® loyalty program
Extra points
Earn 2 points on Amex Travel Online purchases and extra points on American Express offers.svg)
Travel Credit
$100
Nexus Program Rebate
$50 statement credit every 4 yearsComplimentary Hotel Benefits
Hotels booked American Express Travel
Airport Lounge - Priority Pass
Pass only. No Complimentary visits!Airport Lounge - Plaza Premium
4 Free complimentary visits
Our take
Why we like it
Why we like it
This card was voted one of 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, this card has a good benefits coverage, a flexible amex cobalt bonus points redemption program (1:1 transfer to Aeroplan® or Avios), making it the best candidate to become the main credit card for the majority of people.
The American Express® Gold Rewards Card is an excellent choice for travelers seeking an entry-level card that offers a strong balance of generous travel benefits without excessive costs. With a relatively low annual fee, this card provides flexibility and a range of perks that make it stand out among other options. It’s ideal for those who want to maximize their travel rewards without being tied to a specific airline or compromising on the benefits offered.
Pros
Pros
- Impressive optimization
- 1:1 Aeroplan point transfer
- Generous welcome bonus
- Flexible high value redemptions
- Comprehensive coverage
- Highly ranked
- Instant decision. No credit impact.
- Flexible rewards
- Travel perks
- Comprehensive insurance
- Multiple redemption options
- Instant decision. No credit impact.
Cons
Cons
- Limited acceptance
- Lacks valuable coverage categories
- High annual fee
- Foreign transaction fees
- Limited senior travel insurance
- Limited acceptance
American Express Cobalt® Card vs American Express Gold Rewards Card®: When to go for one over the other
Annual Fees and Requirements
The American Express Cobalt® Card has a lower annual fee compared to the American Express Gold Rewards Card®. This difference makes the Cobalt® Card more appealing to those looking to maximize rewards while minimizing upfront costs. Both cards have no specific income requirements, making them accessible to a broad range of users. The lower fee on the Cobalt® Card makes it a better option for individuals who want to save on annual expenses.
Rewards
When it comes to rewards, the American Express Cobalt® Card excels with its high earn rates on dining, groceries, and streaming services. It offers significantly more points for these everyday categories compared to the Gold Rewards Card®, which is more balanced with points on travel, gas, and grocery purchases. For users who spend heavily in food-related categories, the Cobalt® Card provides superior value. The Gold Rewards Card, however, offers a substantial welcome bonus, which can be attractive for those planning to maximize points in the first year.
Benefits and Insurance
The American Express Gold Rewards Card outshines the Cobalt® Card in terms of benefits and insurance. It includes an annual travel credit, access to airport lounges, and broader insurance coverage, such as trip cancellation and interruption insurance, which the Cobalt® Card does not offer. On the other hand, the Cobalt® Card's benefits are more geared towards everyday protection, like mobile device insurance. Therefore, if comprehensive travel perks and insurance are a priority, the Gold Rewards Card is the better option.
Conclusion
The American Express Cobalt® Card is best suited for individuals who spend heavily on dining, groceries, and streaming services, offering excellent value for everyday spending. The majority of users, especially those who want to maximize rewards in these categories, should choose the Cobalt® Card. However, the American Express Gold Rewards Card is better suited for frequent travelers who prioritize travel perks, flexibility, and extensive insurance coverage. Users who value these travel-related benefits should consider the Gold Rewards Card despite its higher annual fee.
More comparisons
Other cards we've put each of these up against.
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vs Amex Green
vs Amex Marriott Bonvoy
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vs CIBC Aeroplan Visa Infinite
vs MBNA Rewards World Elite
vs PC World Elite Mastercard
vs Rogers Red World Elite
vs Scotia Amex Gold
vs Scotiabank Passport
vs TD Aeroplan Visa Infinite
vs TD Aeroplan Visa Infinite Privilege
vs TD First Class Travel
Legal
*Terms and conditions apply.
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 29.99%.
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.
*Terms and conditions apply.
Subject to approval. The preferred rate for purchases is 21.99% and funds advances is 21.99%. If you have Missed Payments, the applicable rates for your account will be 25.99% and/or 29.99%. See the information box included with the application for the definition of Missed Payment and which rates apply to charges on your account and other details.
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.
