Working hard in the background...
Working hard in the background...
Side by Side Credit Cards Comparison
Which one is better?

American Express CobaltĀ® Card
4.9

American Express Platinum CardĀ®
4.6
Welcome Bonus
Earn 1,250 Membership RewardsĀ® points for each monthly billing period in which you spend $750 in purchases on your amex cobalt credit card in the first Year. That's up to 15,000 Membership RewardsĀ® points.
Welcome Bonus
Earn up to 100,000 Membership RewardsĀ® points - thatās up to $1,000 towards a weekend away. New PlatinumĀ® Cardmembers, earn 70,000 Welcome Bonus points after you charge $10,000 in net purchases to your Card in your first 3 months of Cardmembership. Plus, earn 30,000 points when you make a purchase between 15 and 17 months of Cardmembership.
Rewards Breakdown
Annual Rewards
$1,037.82
American Express Membership Rewards
First Year Bonus Value
+
$300
American Express Membership Rewards
Annual Fee
-
$191.88
First Year Value
$1,145.94
$845.94 in years after
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$554.46
American Express Membership Rewards
First Year Bonus Value
+
$0
American Express Membership Rewards
Annual Fee
-
$799
First Year Value
-$244.54
Based on a hypothetical $2,000/mo average spending. Calculate your rewards.
While the first year bonus value here may show $0, the actual welcome bonus offer for this credit card is Earn up to 100,000 Membership RewardsĀ® points, which we value at $2,000 when you meet the minimum spending or other listed requirements. The value of $0 here was derived based on numbers in the spending inputs and whether you meet the minimum listed requirements.
How to Earn Rewards
How to Earn Rewards
Insurance Included
Lost or Stolen Baggage
Baggage Delay
Car Rental Damage & Theft
Common Carrier Travel Accident Insurance
Extended Warranty
Purchase Protection
Hotel Burglary Insurance
Travel Medical Insurance
Flight Delay
Mobile Device Insurance
Insurance Included
Lost or Stolen Baggage
Baggage Delay
Car Rental Damage & Theft
Common Carrier Travel Accident Insurance
Extended Warranty
Purchase Protection
Hotel Burglary Insurance
Travel Medical Insurance
Flight Delay
Trip Cancellation
Trip Interruption
Extra Benefits
Travel Credit
Amex Experiencesā¢
Extra Benefits
Travel Credit
Trip and legal Assistance
Concierge Services
American ExpressĀ® Experiences
Status lift
Status lift
Extra points
Dining Credit
Nexus Program Rebate
Airport Lounge - American Express Global Lounge
Complimentary Hotel Benefits
Priority Travel
Interest Rates
Purchase:
21.99%1
Cash Advance:
21.99%1
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 29.99%.
Interest Rates
Purchase:
21.99% - 30%2
Cash Advance:
N/A2
2 This Charge Card requires full payment of the Due in Full balance each month, with a 30% interest rate on late payments. The Flexible Payment Option balance has a 21.99% interest rate, which increases to 25.99% after two missed payments and 29.99% after three or more within 12 months. A 21-day interest-free grace period applies to new transactions if the full balance is paid by the due date.
Annual Fee
$191.88 (paid monthly)
Annual Fee
$799
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required
Min Personal Income:
N/A
Min Household Income:
N/A
Loyalty Program
Loyalty Program
Point Redemption Options
Most Optimal
AeroplanĀ® Flights
Transfer to Airline Partners
Fixed Point Travel Program
Transfer to Hotel Partners
Statement Credits (Cash)
Gift Cards
Amazon.ca
Merchandise
Point Redemption Options
Most Optimal
AeroplanĀ® Flights
Transfer to Airline Partners
Fixed Point Travel Program
Transfer to Hotel Partners
Statement Credits (Cash)
Gift Cards
Amazon.ca
Merchandise
Is this card worth it?
This card was voted one of 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 amex cobalt bonus points redemption program (1:1 transfer to AeroplanĀ® or Avios), making it the best candidate to become the main credit card for the majority of people.
Is this card worth it?
If you're a frequent traveler, the Platinum card is an excellent choice. It's highly recommended for its extensive travel benefits, including unlimited lounge access for you and a guest at the American Express Lounge collection, making it the best card for lounge access in Canada. The card also offers unique perks not commonly found with other Canadian cards, such as status upgrades at Marriott Bonvoy and Hilton, dining and travel credits, concierge service, airport benefits, Nexus application reimbursement, and more. These benefits can more than offset the annual fee. However, if you don't travel often or are mainly looking for a card that maximizes rewards, this card may not be the best option for you.
Pros
Pros
Cons
Cons
vs Marriott BonvoyĀ® American ExpressĀ®* Card
vs Neo World EliteĀ® MastercardĀ®
vs SimplyCashĀ® Card from American Express
vs American ExpressĀ® AeroplanĀ®* Reserve Card
vs American ExpressĀ® AeroplanĀ®* Card
vs Scotia MomentumĀ® Visa* Card
vs CIBC Costco Mastercard
vs CIBC AeroplanĀ® Visa Infinite* Card
vs BMO CashBackĀ® World EliteĀ® MastercardĀ®
vs Tangerine Money-Back Mastercard
vs Amazon.ca Rewards MastercardĀ®
vs SimplyCash⢠Preferred Card from American Express
vs TD First Class TravelĀ® Visa Infinite* Card
vs TDĀ® AeroplanĀ® Visa Infinite Privilege* Credit Card
vs Scotia MomentumĀ® Visa Infinite* Card
vs MBNA Rewards World EliteĀ® MastercardĀ®
vs PC World Elite Mastercard
vs American ExpressĀ® Green Card
vs Simplii Financial⢠Cash Back Visa* Card
vs RBC ION+ Visa
vs Neo MastercardĀ®
vs American Express Gold Rewards CardĀ®
vs Walmart Rewards⢠World Mastercard®
vs Walmart Rewards⢠Mastercard®
vs Rogers Red World EliteĀ® MastercardĀ®
vs Scotiabank PassportĀ® Visa Infinite* Card
vs RBC ION Visa
vs Scotiabank Gold American ExpressĀ® Card
vs Rogers Red MastercardĀ®
vs TD AeroplanĀ® Visa Infinite* Card
vs Marriott BonvoyĀ® American ExpressĀ®* Card
vs SimplyCashĀ® Card from American Express
vs American ExpressĀ® AeroplanĀ®* Reserve Card
vs American ExpressĀ® AeroplanĀ®* Card
vs Scotia MomentumĀ® Visa* Card
vs SimplyCash⢠Preferred Card from American Express
vs MBNA Rewards World EliteĀ® MastercardĀ®
vs American ExpressĀ® Green Card
vs American Express Gold Rewards CardĀ®
vs Rogers Red World EliteĀ® MastercardĀ®
vs Scotiabank PassportĀ® Visa Infinite* Card
vs Scotiabank Gold American ExpressĀ® Card
vs Rogers Red MastercardĀ®
vs TD AeroplanĀ® Visa Infinite* Card
The American Express Cobalt Card has a significantly lower annual fee compared to the American Express Platinum Card. This makes the Cobalt Card more accessible to users who may not want to pay a premium for their credit card but still seek a valuable rewards program. In contrast, the Platinum Cardās much higher annual fee is justified by the extensive travel perks and luxury benefits it offers. Neither card has a strict minimum income requirement, which makes them both accessible based on creditworthiness rather than income levels.
When it comes to rewards, the American Express Cobalt Card excels in everyday spending categories such as groceries, dining, and streaming services. This card is ideal for users looking to maximize their points through common, recurring purchases. The Platinum Card also earns points on purchases, but its rewards rate is less focused on everyday spending and more geared towards travel and dining. Although both cards offer a valuable signup bonus, the Platinum Card requires higher spending to unlock its larger bonus. The Cobalt Card delivers better long-term value for individuals who prioritize earning rewards on daily expenses.
The American Express Cobalt Card and Platinum Card offer distinctly different benefits, tailored to two types of users. The Cobalt Card shines in its rewards-earning capabilities, especially for everyday spending on dining, groceries, and subscriptions. It also offers essential insurance coverage like purchase protection, extended warranty, and basic travel accident insurance. However, its travel-related perks are not as comprehensive, and it lacks benefits like trip cancellation or interruption insurance.
The Platinum Card, on the other hand, is designed for luxury travelers who value perks over rewards. It provides unlimited access to over 1,300 airport lounges globally, automatic hotel status upgrades, annual travel and dining credits, and Nexus application fee reimbursement. The Platinum Card also includes a concierge service and priority airport services. Additionally, it has a wide range of insurance offerings, including emergency medical, trip cancellation, and trip interruption coverage. This makes it the clear choice for frequent travelers who prefer high-end perks and comprehensive protection.
The decision between the American Express Cobalt Card and the Platinum Card ultimately depends on your personal priorities. If you value maximizing rewards from everyday spending on groceries, dining, and entertainment, the Cobalt Card is a better fit. It offers strong rewards rates and a lower annual fee, making it ideal for people who spend primarily on routine purchases.
Conversely, if youāre a frequent traveler looking for luxurious perks, extensive travel benefits, and comprehensive insurance coverage, the Platinum Card is the superior option. Although it has a much higher annual fee, the access to premium lounges, travel credits, and hotel status upgrades make it worthwhile for those who travel often and prefer a first-class experience. In short, Cobalt is for rewards-focused individuals, while Platinum is for those who prioritize luxury travel and premium benefits.
Legal
*Terms and conditions apply.
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 29.99%.
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.
*Terms and conditions apply.
This Charge Card requires full payment of the Due in Full balance each month, with a 30% interest rate on late payments. The Flexible Payment Option balance has a 21.99% interest rate, which increases to 25.99% after two missed payments and 29.99% after three or more within 12 months. A 21-day interest-free grace period applies to new transactions if the full balance is paid by the due date.
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.
Earn a non-promotional rate of up to 3% on your savings + an exclusive $50 bonus!
SEE OFFER