American Express Cobalt® Card

American Express Cobalt® Card

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Scotia Momentum® Visa Infinite* Card

Scotia Momentum® Visa Infinite* Card

Apply Now

American Express Cobalt® Card vs Scotia Momentum® Visa Infinite* 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

Scotia Momentum® Visa Infinite* Card

Scotia Momentum® Visa Infinite* Card

4


RECOMMENDED CREDIT SCORE*

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

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

$407.15


First Year Bonus

$200


Annual Fee

$120


First Year Value

$607.15

$287.15 in years after

Based on $2,000/mo average spending. 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
  • travel accident medical

    Emergency Out of province Medical

    15 days
  • hourglass timer

    Flight Delay

    $500

  • burglar

    Hotel Burglary Insurance

    $500

Insurance Included*

  • lost baggage

    Lost or Stolen Baggage

    $500
  • hourglass timer

    Baggage Delay

    $500
  • car insurance

    Car Rental Damage & Theft

    48 days
  • heart lock

    Travel Accident

    $500,000
  • mobile device insurance

    Mobile Device Insurance

    $1,000
  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days
  • travel accident medical

    Emergency Out of province Medical

    15 days
  • hourglass timer

    Flight Delay

    $500

  • cancel airplane

    Trip Cancellation

    $1,500
  • pause

    Trip Interruption

    $2,000

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*

  • car rental

    Car Rental Discount

    25% off base rate of Avis Rent A Car and Budget Rent A Car
  • exclusive

    Visa Infinite Exclusive Benefits

    Yes

Interest Rates*

Purchase:

21.99%1

Cash Advance:

21.99%1

Interest Rates*

Purchase:

20.99%

Cash Advance:

22.99%

Balance Transfer:

22.99%

Annual Fee*

$155.8

Annual Fee*

$120

$0

First Year Waived

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required*

Min Personal Income:

$60,000

Min Household Income:

$100,000

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 10% cash back on all purchases for the first 3 months (up to $2,000 in total purchases). Plus, no annual fee in the first year, including on additional cards.

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*

  • 4% cashback on groceries, recurring payments (maximum $1000 cashback per year)
  • 2% cashback on gas, daily transit (maximum $500 cashback per year)
  • 1% cashback on all other credit card purchases (unlimited).

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?

The 4% cashback offered on groceries and recurring purchases is the highest among all other credit cards. With the first year's annual fee waived, and with the right transactions used on this credit card, a high amount of cashback could be earned.

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

  • Highest Cashback rates on Groceries and Recurring purchases compared to other cashback credit cards.
  • High insurance coverage.
  • First year annual fee waived.

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 base cashback rate (1%) is low for most high spent categories, especially after the first year when the card's annual fee kicks in.

American Express Cobalt® Card vs Scotia Momentum® Visa Infinite* Card: When to go for one over the other


Annual Fees and Requirements

The American Express Cobalt Card and the Scotia Momentum Visa Infinite* Card have annual fees that are comparable, though slightly different. The Cobalt card has a marginally higher annual fee but does not have explicit income requirements, making it accessible to a broader range of applicants. On the other hand, the Scotia Momentum Visa Infinite* Card has a slightly lower annual fee, but it does require a minimum personal or household income, which may limit eligibility for some potential users.

Rewards Comparison

The rewards structure of the American Express Cobalt Card is highly attractive, particularly for those who spend heavily on dining, groceries, and streaming services, offering significant points multipliers in these categories. The Scotia Momentum Visa Infinite* Card, while also competitive, primarily excels in offering high cashback rates on groceries and recurring payments. The American Express Cobalt Card generally provides greater overall rewards value for most users, especially for those who can maximize spending in its top categories.

Reward Redemption Options

American Express Membership Rewards points can be redeemed in various ways, including transferring to airline or hotel partners, using them for travel through Amex, or for statement credits. This flexibility often provides higher value compared to the cashback model of the Scotia Momentum card, which, while straightforward and usable on any purchase, lacks the potential for higher-value redemptions found in the Cobalt card's point system.

Benefits and Insurance

Both cards offer comprehensive insurance packages, including emergency medical, travel accident, and car rental insurance. However, the Scotia Momentum® Visa Infinite* Card stands out by also including trip cancellation and interruption insurance, which the American Express Cobalt Card lacks. Additionally, American Express offers exclusive perks through its Amex Experiences, which might appeal to those who frequently attend events or seek unique experiences.

Acceptance and Network

The American Express Cobalt® Card is part of the American Express network, which, while offering excellent perks, is less widely accepted compared to Visa. The Scotia Momentum® Visa Infinite* Card benefits from the broader acceptance of the Visa network, making it a more practical choice for those who prioritize widespread usability.

Conclusion

For most users, the American Express Cobalt® Card is likely the better option due to its superior rewards structure, especially for those who spend significantly on dining and entertainment. However, those who prioritize cashback on groceries and recurring payments or need broader card acceptance should consider the Scotia Momentum® Visa Infinite* Card. Additionally, if trip cancellation and interruption insurance are important, the Scotia card provides an extra layer of coverage that the Amex card does not.

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.
*See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information. 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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