American Express Cobalt® CardVSAmerican Express® Aeroplan®* Card

Annual Fees and Requirements

The American Express Cobalt Card has a slightly higher annual fee compared to the American Express Aeroplan Card. However, neither card imposes specific income requirements, making them accessible to a broad range of users. The annual fee differences may be offset depending on how often you utilize the rewards categories.

Rewards Comparison

The American Express Cobalt Card focuses heavily on food-related categories, offering high rewards on dining, groceries, and streaming services. The Aeroplan Card, meanwhile, centers its rewards on Air Canada purchases and dining. Both offer substantial signup bonuses, but the Cobalt Card provides better ongoing rewards for everyday spending beyond travel.

Reward Redemption Options

One of the key advantages of the Cobalt Card is the ability to transfer points to airline partners, including Aeroplan, which enhances its flexibility and makes it a superior choice even compared to the Aeroplan Card. In addition, the Cobalt offers other redemption options such as cash back, travel, and gift cards. The Aeroplan Card primarily focuses on Aeroplan-related travel redemptions, limiting its versatility.

Benefits and Insurance

Both cards provide solid insurance coverage, including travel and purchase protection. However, the Aeroplan Card offers a unique benefit of free checked bags on Air Canada flights, which can save frequent flyers significant amounts. In contrast, the Cobalt Card’s benefits are better suited to everyday use, but it doesn’t match the travel perks of the Aeroplan Card.

Conclusion

The American Express Cobalt Card is best for those who want maximum flexibility and strong rewards across multiple categories, including the option to transfer points to Aeroplan and other airline partners. This makes it a better choice for most users. On the other hand, the Aeroplan Card is ideal for frequent Air Canada travelers who can take advantage of specific travel benefits like the free checked bag perk.