American Express Cobalt® Card vs Scotiabank Passport® Visa Infinite* Card: Which one is better?

Annual Fees and Requirements

The American Express Cobalt® Card and the Scotiabank Passport® Visa Infinite* Card have similar annual fees, though the specific amount can vary. The Scotiabank Passport Visa Infinite requires a minimum income level, potentially limiting eligibility for some applicants, whereas the American Express Cobalt Card does not have specified income requirements, offering broader accessibility.

Rewards Comparison

The American Express Cobalt® Card significantly outperforms the Scotiabank Passport® Visa Infinite* Card in terms of rewards, particularly for spending on dining, groceries, and travel. The lower value of Scene+ points results in the overall rewards from the Passport card being about one-third of what the Cobalt® Card offers. Additionally, the Cobalt® Card’s monthly rewards structure maximizes earning potential, making it the more rewarding choice for most users.

Reward Redemption Options

The American Express Cobalt Card offers more versatile redemption options, including the ability to transfer points to airline and hotel partners, which can provide significant value. In contrast, the Scotiabank Passport Visa Infinite Card's redemption options are more limited and less flexible, primarily focusing on Scene+ points, which offer less versatility than the Cobalt’s statement credit or travel redemption options.

Benefits and Insurance

The Scotiabank Passport® Visa Infinite* Card excels in travel-related benefits, offering no foreign transaction fees, airport lounge access, and comprehensive insurance coverage, including trip cancellation and interruption. The American Express Cobalt® Card, while offering strong lifestyle benefits and coverage, particularly for dining and entertainment, does not match the travel-specific perks provided by the Passport card.

Network Differences

Because the Scotiabank Passport card is on the Visa network, it is much more accepted both in Canada and internationally, whereas you might not get the same acceptance with the Amex Cobalt.

Conclusion

The American Express Cobalt® Card is the superior choice for most users, offering exceptional rewards, especially for those with significant spending on dining, groceries, and travel within Canada. However, the Scotiabank Passport® Visa Infinite* Card is a better fit for frequent travelers who value no foreign transaction fees, comprehensive insurance coverage, and broader acceptance in local and international locations.