American Express Cobalt® Card vs American Express® Green 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® Green Card

3.8

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

$457.03

American Express Membership Rewards

Welcome Bonus

$210

American Express Membership Rewards

Annual Fee

First Year Value

$667.03

$457.03 in years after

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

Insurance Included*

Purchase Protection

90 days

Extended Warranty

1 year

Emergency Out of province Medical

$5M/insured Person Up to 15 days

Flight Delay

$500

Baggage Delay

$500

Hotel Burglary Insurance

$500

Lost or Stolen Baggage

$500

Travel Accident

$250,000

Car Rental Damage & Theft

$85K up to 48 days

Mobile Device Insurance

$1000

Insurance Included*

Purchase Protection

90 days

Extended Warranty

1 year

Extra Benefits*

American Express Experiences

Extra Benefits*

American Express Experiences

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*

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 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*

1x point per $1 spent on all purchases

Loyalty Program*

American Express Membership Rewards

Loyalty Program*

American Express Membership Rewards

Point Redemption Options*

Most Optimal

Transfer to Airline Partners

2.1¢ / point

Fixed Point Travel Program

1.66¢ / point

Transfer to Hotel Partners

1.66¢ / point

Statement Credits

1¢ / point

Gift Cards

0.765¢ / point

Amazon.ca

0.7¢ / point

Merchandise

0.63¢ / point

Point Redemption Options*

Most Optimal

Transfer to Airline Partners

2.1¢ / point

Fixed Point Travel Program

1.66¢ / point

Transfer to Hotel Partners

1.66¢ / point

Statement Credits

1¢ / point

Gift Cards

0.765¢ / point

Amazon.ca

0.7¢ / point

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.

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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.

Annual Fees and Requirements
Rewards Comparison
Benefits and Insurance Comparison
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.

^1,2 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%.