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


American Express Cobalt® Card

American Express Cobalt® Card

5


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

American Express® Green Card

American Express® Green Card

3.8


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


First Year 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

$457.03

American Express Membership Rewards


First Year Bonus

$210

American Express Membership Rewards


Annual Fee

$0


First Year Value

$667.03

$457.03 in years after

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

Insurance Included*

  • extended warranty

    Extended Warranty

    Up to 1 year
  • purchase protection

    Purchase Protection

    90 days

  • lost baggage

    Lost or Stolen Baggage

    $500
  • hourglass timer

    Baggage Delay

    $500
  • car insurance

    Car Rental Damage & Theft

    yes
  • heart lock

    Travel Accident

    $250,000
  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • burglar

    Hotel Burglary Insurance

    $500
  • travel accident medical

    Emergency Out of province Medical

    15 days
  • hourglass timer

    Flight Delay

    $500

Insurance Included*

  • extended warranty

    Extended Warranty

    Up to a year
  • purchase protection

    Purchase Protection

    90 days

Extra Benefits*

  • Amex logo

    American Express® Experiences


  • travel

    Travel Credit

    Book two or more consecutive nights at participating properties through The Hotel Collection with American Express Travel to receive a $100 credit for amenities or a complimentary room upgrade, if available.

Extra Benefits*

  • Amex logo

    American Express® Experiences


  • reward cup

    Extra points

    2 points on Amex Travel Online purchases

Interest Rates*

Purchase:

21.99%1

Cash Advance:

21.99%1

Interest Rates*

Purchase:

21.99%2

Cash Advance:

21.99%2

Annual Fee*

$155.8

Annual Fee*

$0

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 a Welcome Bonus of 10,000 points when you charge $1,000 in purchases to your Card in the first 3 months.

Rewards Rate*

  • 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

Rewards Rate*

  • 1x point per $1 spent on all purchases

Point Redemption Options*

  • Most Optimal

    plane

    Transfer to Airline Partners

    2.1¢ / point
  • travel - plane

    Fixed Point Travel Program

    1.66¢ / point
  • hotel

    Transfer to Hotel Partners

    1.66¢ / point
  • cash coins

    Statement Credits (Cash)

    1¢ / point
  • gift card

    Gift Cards

    0.765¢ / point
  • amazon logo

    Amazon.ca

    0.7¢ / point
  • online shop

    Merchandise

    0.63¢ / point

Point Redemption Options*

  • Most Optimal

    plane

    Transfer to Airline Partners

    2.1¢ / point
  • travel - plane

    Fixed Point Travel Program

    1.66¢ / point
  • hotel

    Transfer to Hotel Partners

    1.66¢ / point
  • cash coins

    Statement Credits (Cash)

    1¢ / point
  • gift card

    Gift Cards

    0.765¢ / point
  • amazon logo

    Amazon.ca

    0.7¢ / point
  • online shop

    Merchandise

    0.63¢ / 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?

The American Express® Green Card is a great option for those looking for a no-frills card that earns rewards on all purchases without any annual fee or minimum income requirement. It's an accessible card with no cap on rewards, making it ideal for those who want to earn points without the higher costs and complexities of premium cards. However, it does come with lower rewards earnings across most categories and a modest welcome bonus.

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

  • No Spending Limits: Earn unlimited rewards with no caps.
  • Flexible Redemption: Transfer points to other loyalty programs for maximum value.
  • VIP Perks: Access a variety of exclusive benefits through American Express Experiences.
  • Eco-Friendly: The card is made from 99% recycled plastic.

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

  • Lower Reward Rates: Earn rates are lower compared to other no-fee cards.
  • Limited Travel Perks: Lacks some of the travel benefits and insurance options provided by other cards.

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


Annual Fees and Requirements

The American Express Cobalt® Card has an annual fee, while the American Express® Green Card does not. This fee difference is one of the primary factors in choosing between the two cards. If you prefer a card with no annual fee, the Green Card is the clear choice. However, for those who are comfortable paying an annual fee in exchange for better rewards and benefits, the Cobalt® Card may be more appealing.

Rewards Comparison

The Cobalt® Card offers significantly higher rewards rates, especially in categories like food and groceries, where it earns multiple points per dollar spent. In contrast, the Green Card provides a flat rate of points on all purchases, which is much lower overall. For those who spend more in categories like dining and groceries, the Cobalt® Card can yield much higher annual rewards, making it a better option for maximizing points.

Benefits and Insurance Comparison

The Cobalt® Card comes with a more extensive range of benefits and insurance options, including travel-related coverages such as out-of-province medical insurance, flight delay insurance, and mobile device insurance. The Green Card offers basic benefits like purchase protection and extended warranty, but lacks many of the travel perks provided by the Cobalt® Card. If you travel frequently or value extensive insurance coverage, the Cobalt® Card is likely the better option.

Conclusion

For most users, the American Express Cobalt® Card is the superior choice due to its higher rewards rates and broader benefits, particularly for those who spend significantly on food, groceries, or travel. The Green Card, however, might be better suited for those with lower spending levels or those who prefer not to pay an annual fee, while still earning points on all purchases.

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 here for full details and current product information.
1,2 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%.

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