American Express Cobalt® Card vs Amazon.ca Rewards Mastercard®
Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.
Welcome bonus
Each offer as the issuer words it. The numbers below show whether your spending reaches it.
The offer
The offer
Earn 1,250 Membership Rewards® 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 Rewards® points.
Up to $150
What each card is worth
Rewards, the welcome bonus and any Finly rebate in, the annual fee and FX fees out, all on your spending.
Worked out on a typical $2,000 a month of spending. Enter yours to see your own numbers.
$1,147
First-year value
$394
$787
Every year after
$244
Amex Cobalt is worth $753 more to you in year one.
It stays ahead after that, by $543 a year.
How the first year adds up
Amazon Rewards Mastercard
Amazon Prime member?
Eligible customers unlock boosted rewards on this card
Annual rewards
$979.03
51,528 points a year
Welcome bonus
+ $285
first year only
Annual fee
− $191.88
Finly rebate
paid by FinlyWealth
First-year value
$1,147.15
Annual rewards
$243.95
cash back a year
Welcome bonus
+ $150
first year only
Annual fee
− $0
no annual fee
First-year value
$393.95
Where each card earns
A year of your spending at each card's own reward rates, most first.
5xFood, drinks and groceries in Canada
32,604 pts
$619.48
2xGas, transit & ride share in Canada
4,692 pts
$89.15
3xStreaming subscriptions in Canada
1,440 pts
$27.36
1xAll other purchases
12,792 pts
$243.05
1.5%AmazonCA, WholeFoods
$11.84
1%All other purchases
$232.11
Fees, rates and eligibility
What each card costs to hold and to use abroad, and who it's for.
Annual fee
Additional cards
Interest rates
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%.
Purchase:
21.74%
Cash Advance:
22.99%
Recommended credit score
Recommended credit score
Income required
Income required
Min Personal Income:
N/A
Min Household Income:
N/A
Min Personal Income:
N/A
Min Household Income:
N/A
How each card earns
The earn rates and caps, as each issuer sets them.
- 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
- 2.5% cashback on Amazon.ca, Whole Foods and foreign currency transactions IF a prime member
- Only 1.5% on Amazon.ca and Whole foods and 1% on foreign currency transactions IF not a prime member
- 1% cashback on everything else
Points and how we value them
Points become dollars at each card's best redemption. Here's the value we used, and every other way to spend them.
Loyalty program
Loyalty program
We count each point at 1.9¢ a point, what it's worth redeemed for Transfer to Airline Partners, its best value. Every dollar figure above uses that value.
Cash back: every dollar it earns counts as a dollar, so there's nothing to convert.
Point redemption options
Point redemption options
Most Optimal
Transfer to Airline Partners
1.9¢ / point
Fixed Point Travel Program
1.16¢ / point
Transfer to Hotel Partners
1.08¢ / point.svg)
Flexible Points Travel Program
1¢ / point
Statement Credits (Cash)
1¢ / point
Gift Cards
0.91¢ / point
Amazon.ca
0.7¢ / point
Merchandise
0.63¢ / point
Nothing to redeem: it pays cash back.
Insurance and perks
What both cards include comes first in each list.
Insurance
Insurance
Extended Warranty
1 year
Purchase Protection
90 days
Lost or Stolen Baggage
$500
Baggage Delay
$500.svg)
Car Rental Damage & Theft
yes
Common Carrier Travel Accident Insurance
$250,000
Mobile Device Insurance
$1,000
Hotel Burglary Insurance
$500
Travel Medical Insurance (64 & under)
15 days, up to $5M (if under age 65)Flight Delay
$500
Extended Warranty
Up to a yearPurchase Protection
90 days
Perks
Perks
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™
Car Rental Discount
10% off base rate of Avis Rent A Car and Budget Rent A Car
Trip and legal Assistance
Yes
Our take
Why we like it
Why we like 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 Aeroplan® or Avios), making it the best candidate to become the main credit card for the majority of people.
If you are a Prime member and want to maximize your cashback on your Amazon purchases, then this card is the best option for that specific purchase category. However, for other purchases, many other cards offer better benefits and rewards.
Pros
Pros
- Impressive optimization
- 1:1 Aeroplan point transfer
- Generous welcome bonus
- Flexible high value redemptions
- Comprehensive coverage
- Highly ranked
- Instant decision. No credit impact.
- Impressive Prime optimization
- Foreign currency cashback
Cons
Cons
- Limited acceptance
- Lacks valuable coverage categories
- Low non-Amazon optimization
- Limited benefits
American Express Cobalt® Card vs Amazon.ca Rewards Mastercard®: When to go for one over the other
Annual Fees and Requirements
The American Express Cobalt Card has an annual fee, while the Amazon.ca Rewards Mastercard does not. This difference makes the Amazon.ca card a more attractive option for those looking to avoid annual fees. However, the American Express Cobalt Card might justify its fee with higher rewards and benefits, making it suitable for those who can maximize these perks. Neither card has a specified income requirement, making them accessible to a broad range of applicants.
Rewards Comparison
The American Express Cobalt Card offers significantly higher rewards, especially in specific categories like dining and groceries, compared to the Amazon.ca Rewards Mastercard. The welcome bonus on the Cobalt Card is also higher, making it potentially more lucrative in the first year. In contrast, the Amazon.ca card offers decent cashback, particularly for Amazon Prime members, but falls short in overall rewards compared to the Cobalt Card.
Reward Redemption Options
The American Express Cobalt Card provides various redemption options, including transfers to airline and hotel partners, which can offer excellent value. It also allows for statement credits and gift cards, though at a lower value per point. The Amazon.ca Rewards Mastercard is straightforward, offering cashback that can be easily used for any purchase, making it more flexible but potentially less rewarding than the points system of the Cobalt Card.
Benefits and Insurance
The American Express Cobalt Card comes with extensive benefits and insurance, including travel insurance, purchase protection, and exclusive access to events through American Express Experiences. In contrast, the Amazon.ca Rewards Mastercard offers more basic benefits, with fewer insurance options and no unique perks beyond cashback. This makes the Cobalt Card a better choice for those who value comprehensive coverage and additional benefits.
Conclusion
The American Express Cobalt Card is generally better for users who can take advantage of its higher rewards, extensive benefits, and flexible redemption options. It is especially suited for those who spend significantly in its high-reward categories. On the other hand, the Amazon.ca Rewards Mastercard is a solid option for Amazon Prime members or those who prefer a no-fee card with simple cashback, particularly if they frequently shop on Amazon.ca.
More comparisons
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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.
