American Express Cobalt® Card vs Scotiabank Passport® Visa Infinite* Card: Which one is better?
American Express Cobalt® Card
5
RECOMMENDED CREDIT SCORE*
Scotiabank Passport® Visa Infinite* Card
4.3
RECOMMENDED CREDIT SCORE
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
$333.58
Scene+
Welcome Bonus
$250
Scene+
Annual Fee
$150
First Year Value
$433.58
$183.58 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Emergency Out of province Medical
$5M/insured Person Up to 15 daysFlight Delay
$500Baggage Delay
$500Hotel Burglary Insurance
$500Lost or Stolen Baggage
$500Travel Accident
$250,000Car Rental Damage & Theft
$85K up to 48 daysPurchase Protection
90 daysExtended Warranty
1 yearMobile Device Insurance
$1000
Insurance Included
Emergency Out of province Medical
$5M/insured Person Up to 15 daysFlight Delay
$500Baggage Delay
$500Hotel Burglary Insurance
$500Lost or Stolen Baggage
$500Travel Accident
$250,000Car Rental Damage & Theft
$85K up to 48 daysPurchase Protection
90 daysExtended Warranty
1 yearEmergency Medical Over 65
$2M/insured up to 3 daysTrip Cancellation
$1,500/person, $10,000/tripTrip Interruption
$2,500/person, $10,000/trip
Extra Benefits*
American Express Experiences
Extra Benefits
No Foreign Transaction Fees
Airport Lounge - Dragon Pass
6 Free complimentary visitsStatus lift
Avis® Preferred Plus membershipConcierge Services
Visa Infinite Exclusive Benefits
Interest Rates*
Purchase:
21.99%1
Cash Advance:
21.99%1
Interest Rates
Purchase:
20.99%
Cash Advance:
22.99%
Annual Fee*
$155.8
Annual Fee
$150
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 25,000 bonus Scene+ points by making at least $1000 in everyday eligible purchases in your first 3 months. Plus, another 10,000 bonus Scene+ points after making $40,000 of purchases annually.
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
- 3 Points on on every $1 you spend at Sobeys, Safeway, IGA, Foodland & Participating Co-ops
- 2 Points dining and at other eligible grocery stores,entertainment purchases which includes movies, theatre, and ticket agencies and Rides which includes rideshare,buses,taxis, subways and more
- 1 Point on everything else
Loyalty Program*
Loyalty Program
Point Redemption Options*
Gift Cards
0.765¢ / pointMerchandise
0.63¢ / pointMost Optimal
Transfer to Airline Partners
2.1¢ / pointFixed Point Travel Program
1.66¢ / pointTransfer to Hotel Partners
1.66¢ / pointStatement Credits
1¢ / pointAmazon.ca
0.7¢ / point
Point Redemption Options
Gift Cards
0.765¢ / pointMerchandise
0.63¢ / pointEntertainment
1¢ / pointTravel
1¢ / pointGroceries (Sobeys)
1¢ / 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 Scotiabank Passport Visa Infinite is a strong choice for frequent travelers, especially those who value flexibility and premium perks. It stands out with its rare benefit of no foreign transaction fees, making international purchases more cost-effective. Additionally, the card offers a valuable blend of travel perks, including airport lounge access, comprehensive insurance coverage, and flexible rewards, making it an ideal companion for those who frequently travel abroad and want to avoid extra fees while enjoying premium benefits.
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
- High Rewards on Select Purchases: Earn up to 3 points per $1 spent on select categories.
- No Foreign Transaction Fees: Shop abroad without additional charges.
- Comprehensive Insurance: Includes 11 types of insurance coverage.
- Airport Lounge Access: Enjoy up to 6 airport lounge passes per year through the Visa Airport Companion program.
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
- High Income Requirements: Requires $60,000 personal or $100,000 household income.
- Lower Overall Rewards: Rewards potential is lower compared to premium credit cards.
- High Annual Fee: Comes with a significant annual fee.
- Average Insurance Coverage: Insurance benefits are standard, not exceptional.
- Mediocre Earnings Potential: The card’s rewards structure might not offer the highest returns for every spender.
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American Express Cobalt® Card vs Scotiabank Passport® Visa Infinite* Card: When to go for one over the other
Annual Fees and Requirements
Rewards Comparison
Reward Redemption Options
Benefits and Insurance
Network Differences
Conclusion
Legal