American Express Cobalt® Card vs Walmart Rewards™ World Mastercard®: Which one is better?

American Express Cobalt® Card

More Details

RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Walmart Rewards™ World Mastercard®

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

$250.13

Welcome Bonus

$45

Annual Fee

First Year Value

$295.13

$250.13 in years after

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

Insurance Included*

Purchase Protection

90 days

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

Extended Warranty

1 year

Insurance Included

Purchase Protection

90 days

Extra Benefits*

American Express Experiences

Extra Benefits

N/A

Interest Rates*

Purchase:

21.99%¹

Cash Advance:

21.99%¹

Interest Rates

Purchase:

20.89% - 26.99%

Cash Advance:

22.97% - 27.99%

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:

$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

$45 on Approval

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% cashback on Walmart.ca purchases
1.25% cashback on Walmart store and gas purchases
1% cashback on all credit card purchases.

Loyalty Program*

American Express Membership Rewards

Loyalty Program

N/A

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

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, 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 Walmart Rewards World Elite Mastercard is ideal for frequent Walmart shoppers who want to spread out payments on larger purchases without paying much interest. It's especially beneficial for those who frequently shop at Walmart's online store. However, it offers a rather average reward rate for other types of purchases, making many other cards a better choice for non-Walmart spending categories.

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

Installment Payments: Allows you to pay for Walmart purchases in installments over six months.

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

Limited Redemption: Rewards can only be redeemed at Walmart and Walmart.ca.
Lower Rewards: Offers lower rewards compared to other store and cashback credit cards.
Minimal Benefits: No additional benefits or insurance coverage aside from purchase assurance and extended warranty.

Other Comparisons

vs TD Aeroplan® Visa Infinite* Card

vs Rogers Red Mastercard®

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vs RBC ION Visa

vs Scotiabank Passport® Visa Infinite* Card

vs Rogers Red World Elite® Mastercard®

vs Walmart Rewards™ Mastercard®

vs American Express Gold Rewards Card®

vs Neo Credit Card

vs RBC ION+ Visa

vs Simplii Financial™ Cash Back Visa* Card

vs American Express® Green Card

vs PC World Elite Mastercard

vs MBNA Rewards World Elite® Mastercard®

vs Scotia Momentum® Visa Infinite* Card

TD® Aeroplan® Visa Infinite Privilege* Credit Card

vs TD® Aeroplan® Visa Infinite Privilege*

vs SimplyCash™ Preferred Card from American Express

vs Amazon.ca Rewards Mastercard®

vs Tangerine Money-Back Credit Card

vs BMO CashBack® World Elite® Mastercard®

vs CIBC Costco Mastercard

vs Scotia Momentum® Visa* Card

vs American Express® Aeroplan®* Card

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vs American Express Platinum Card®

Other Comparisons

vs Rogers Red World Elite® Mastercard®

vs Walmart Rewards™ Mastercard®

American Express Cobalt® Card vs Walmart Rewards™ World Mastercard®: When to go for one over the other

Annual Fees and Requirements

The American Express Cobalt® Card comes with a moderate annual fee, while the Walmart Rewards™ World Mastercard® has no annual fee. This makes the Walmart Mastercard more appealing for those looking to avoid yearly charges. However, the Cobalt® Card’s fee may be justified by its more comprehensive rewards and benefits. Neither card specifies a minimum personal income requirement, but the Walmart Mastercard requires a household income that not everyone might be able to meet.

Rewards Comparison

The American Express Cobalt® Card offers significantly higher rewards, particularly in categories like dining, groceries, and travel, which makes it ideal for frequent spenders in these areas. The card also offers a substantial welcome bonus. In contrast, the Walmart Rewards™ World Mastercard® focuses on cashback for Walmart purchases, with lower rewards for other spending categories. This card is more suitable for those who frequently shop at Walmart.

Reward Redemption Options

The American Express Cobalt Card offers multiple redemption options, including transfers to airline and hotel partners, statement credits, and gift cards. These options provide flexibility and value. The Walmart Rewards World Mastercard, however, limits rewards redemption to Walmart, reducing flexibility compared to the cashback versatility of the Cobalt Card.

Benefits and Insurance Comparison

The Cobalt® Card provides extensive insurance coverage, including emergency medical, travel accident, and mobile device insurance, along with unique benefits like American Express Experiences. The Walmart Mastercard offers basic purchase protection and extended warranty coverage but lacks the more robust benefits offered by the Cobalt® Card. The Cobalt® Card’s extensive insurance options and extra perks make it more valuable for frequent travelers and those seeking comprehensive coverage.

Conclusion

The American Express Cobalt® Card is generally the better option for most users due to its superior rewards structure and extensive benefits, making it ideal for those who spend heavily on dining, travel, and groceries. However, the Walmart Rewards™ World Mastercard® is better suited for individuals who primarily shop at Walmart and prefer a no-fee card.

Annual Fees and Requirements
Rewards Comparison
Reward Redemption Options
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 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%.