American Express Cobalt® Card

American Express Cobalt® Card

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Rogers Red Mastercard

Rogers Red Mastercard®

Apply Now

American Express Cobalt® Card vs Rogers Red Mastercard®: 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

Rogers Red Mastercard

Rogers Red Mastercard®

4.4


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$1,096

American Express Membership Rewards


First Year Bonus

$315

American Express Membership Rewards


Annual Fee

$155.8


First Year Value

$1,255.2

$940.2 in years after

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

Rewards Breakdown

Annual Rewards

$720


First Year Bonus

$90


Annual Fee

$0


First Year Value

$810

$720 in years after

Based on $2,000/mo average spending and assuming you have an eligible Rogers, Fido or Shaw service as the primary or level 1 authorized user. Calculate your rewards.

Insurance Included*

  • 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
  • extended warranty

    Extended Warranty

    Up to 1 year
  • purchase protection

    Purchase Protection

    90 days
  • burglar

    Hotel Burglary Insurance

    $500
  • travel accident medical

    Emergency Out of province Medical

    15 days
  • hourglass timer

    Flight Delay

    $500

Insurance Included

  • credit card dollar

    Balance Protection

    Minimum payments

Extra Benefits*

  • 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.
  • Amex logo

    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™

Extra Benefits

  • mobile phone wifi

    No Cost roaming

    5 days

Interest Rates*

Purchase:

21.99%1

Cash Advance:

21.99%1

Interest Rates

Purchase:

19.99%

Cash Advance:

22.99%

Balance Transfer:

22.99%

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

$60 cash back when you make a mobile wallet purchase within the first 90 days and 6 automatic payments within the first 8 months for your Rogers, Fido or Shaw postpaid service ($90 if redeemed for Rogers, Fido or Shaw purchases).

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

  • 2% cashback on all purchases if you have 1 qualifying Rogers, Fido or Shaw service as the account owner
  • 2% cashback on all U.S dollar purchases and 1% on all other eligible purchases if you do not have a qualifying Rogers, Fido or Shaw service
  • 1.5x redemption bonus on your earned cash back value when used on Rogers, Fido and Shaw purchases – that’s a 3% cash back value

Loyalty Program

N/A

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

Not Applicable

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, this card has a good benefits coverage, a flexible 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.

Is this card worth it?

This card is one of our top-ranked options in terms of rewards, especially if you are a Rogers, Fido, or Shaw customer. With those services, you can effectively get a 3% cashback rate, which is a higher rate than almost any other card offers, even those with annual fees! If you have a high income of $80K or a household income of $150K, you can apply for the World Elite version of this card, which comes with additional insurance and benefits like a lounge pass.

Pros

  • Points can be transferred to Air Canada Aeroplan® at a 1:1 ratio, making this card a solid Aeroplan® points earner as an alternative to Aeroplan® branded credit cards
  • 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

  • Voted as the Best Cash Back Card in Canada for Rogers, Fido and Shaw Customers by FinlyWealth.
  • There is no annual fee, a notable perk for a card with such high reward multipliers. Most cards with slightly lower reward rates typically have annual fees.
  • Offers the flexibility to redeem cash towards Rogers, Shaw, or Fido services, potentially increasing the value of your earned rewards.
  • The roam-like benefit is a benefit unique only to this card.
  • It is accepted at nearly all locations as it's a Mastercard.

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

  • No real insurance coverage (only balance protection), not even purchase protection or extended warranty which are pretty standard benefits for almost all credit cards.
  • Low rewards multiplier if you don't have an eligible Rogers, Shaw, or Fido service.

American Express Cobalt® Card vs Rogers Red Mastercard®: When to go for one over the other


Annual Fees and Requirements

The American Express Cobalt® Card carries an annual fee, while the Rogers Red Mastercard® does not, making the latter an attractive option for those looking to avoid an extra yearly expense. Neither card has a specified minimum income requirement, making them accessible to a wide range of applicants. The Cobalt® Card’s fee might be justified for users who can fully leverage its robust rewards and benefits.

Rewards

In terms of rewards, the American Express Cobalt® Card significantly outperforms the Rogers Red Mastercard® for most spending categories, particularly in areas like dining and groceries. It also offers a substantial welcome bonus that could enhance the card's value in the first year. The Rogers Red Mastercard®, however, offers a straightforward cash-back program with a higher multiplier if you are a Rogers, Fido, or Shaw customer, making it a compelling choice for those who already use these services.

Reward Redemption Options

The American Express Cobalt Card offers a variety of redemption options, including transfers to airline and hotel partners, which can yield significant value for those who travel frequently. Additionally, points can be used for statement credits, gift cards, and merchandise, though the value may vary. The Rogers Red Mastercard does not offer a point redemption system but instead provides flexible cashback that can be used on anything, making it more straightforward and versatile for everyday expenses.

Benefits and Insurance

The American Express Cobalt® Card stands out with its comprehensive insurance coverage, including travel, purchase protection, and mobile device insurance, which the Rogers Red Mastercard® lacks. The Rogers Red Mastercard® does offer a unique roam-like-home benefit that is not available with the Cobalt® Card, but its overall insurance offering is minimal, limited to balance protection.

Conclusion

For users who prioritize high rewards in specific categories and comprehensive insurance coverage, the American Express Cobalt® Card is the better choice, despite its annual fee. It’s ideal for frequent travelers, diners, and those who value extensive insurance. However, the Rogers Red Mastercard® is better suited for individuals who prefer a no-fee card with simple, effective cashback rewards, especially if they are Rogers, Fido, or Shaw customers.

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 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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