Head-to-Head: American Express Cobalt Card vs. National Bank World Elite Mastercard

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Alexandrine Bertrand
Alexandrine Bertrand

Alexandrine Bertrand

Alexandrine Bertrand
A passionate solo traveler, Alexandrine is an expert on loyalty programs such as Aeroplan, Avios, AIR MILES, Flying Blue and Marriott Bonvoy. With a budget-conscious approach, she helps travelers maximize their points and miles for low-cost, off-the-beaten-path getaways. A food lover, she enjoys discovering the local flavors and culinary traditions that enrich her adventures.
All posts by Alexandrine Bertrand
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American Express Cobalt Card vs National Bank World Elite Mastercard
To the point Here's our detailed comparison of the American Express Cobaltᴹᴰ Card and the National Bank World Elite Mastercard® Credit Card.

American Express Canada and National Bank each offer a credit card that earns 5 points per dollar spent at grocery stores and restaurants:

Welcome bonus

The welcome bonus offered by each of these credit cards varies according to promotions. However, there are differences to be aware of between the two credit cards.

american express cobalt card

When you subscribe to the American Express CobaltMD Card, you can earn up to 15,000 points:

  • 1,250 points per month for the first 12 months (monthly expenses of $750 or more)
national bank world elite mastercard

With the current welcome offer, receive up to 35,000 bonus points earned as follows:

  • 10,000 points if you make at least $5,000 in purchases in the first 3 months
  • 10,000 points if you make at least $10,000 in purchases in the first 6 months
  • 15,000 pointsif you make at least $20,000 in purchases in the first 14 months

What’s more, the annual fee is fully refunded in the first year.

Advantage: American Express CobaltMD Card

Thanks to its welcome bonus, the American Express CobaltMD Card offers the most, with a reasonable spending amount.

Minimum Income

american express cobalt card

The American Express Cobalt® Card requires no minimum income.

national bank world elite mastercard

The National Bank World Elite Mastercard requires :

  • $80,000 individual income
  • $150,000 household income
  • or assets under management of $400,000 or more
Advantage: American Express Cobalt Card

The American Express CobaltMD Card requires no minimum income, unlike the National Bank World Elite Mastercard®.

Annual Fees

american express cobalt card

The American Express CobaltMD Card has a monthly fee of $12.99, charged on each monthly statement. At the end of 12 months, the total is $155.88.

national bank world elite mastercard

The National Bank World Elite Mastercard® has an annual fee of $150.

Advantage: National Bank World Elite Mastercard®.

The annual fee for the National Bank World Elite Mastercard® is lower than for the American Express CobaltMD Card.

What’s more, the National Bank World Elite Mastercard® has a special advantage: it gives you a $150 travel credit every year!

As a result, cardholders have a total of $150 to apply to certain travel expenses. Used to its full potential, the card costs nothing each year.

Earning Points

The American Express CobaltMD Card and the National Bank World Elite Mastercard® each offer similar levels of point accumulation.

Earning

american express cobalt card

With the American Express CobaltMD Card, you can earn up to 5 points per dollar:

Category Points
Grocery, Restaurant, Home Food Delivery, Bars, Convenience Stores 5*
Streaming services (Apple TV+, Apple Music, Crave, Disney+, Netflix, RDS, TSN, etc.) 3
Local transport, service stations 2
Other purchase 1

For the 5X points category, you can earn 5 points per dollar up to $2,500 in monthly purchases in this category, charged to the card. Starting at $2,501, points are accumulated at a rate of 1 point per dollar for the 5 X points category.

national bank world elite mastercard

With the National Bank World Elite Mastercard®, you can also earn up to 5 points per dollar:

Category Points
Grocery and Restaurant 5*
Gas, Electric recharging, Recurring bill, À la carte Travel 2
Other purchase 1

For the Grocery and Restaurant category, you can earn 5 points for every dollar spent within the first $2,500 of monthly purchases (all categories combined) charged to the card. Starting at $2,501, points are accumulated at a rate of 2 points per dollar for the 5 X points category.

Equality

Depending on your needs and the majority of your expenses, you may choose one or the other. Since groceries are a major budget item, getting 5 points per dollar on one of these 2 credit cards for this expense is excellent.

Don’t forget the possibility of buying gift cards at the grocery store to maximize your points: you earn 5 points per dollar, even on Walmart, Amazon, Sports Experts, Canadian Tire gift cards, and so on.

Redeeming Points

Both cards are part of different loyalty programs:

Thus, the ways of using the points are different.

Redeeming Points

american express cobalt card

The American Express CobaltMD Card is highly versatile and flexible. You can redeem Membership Rewards points for a statement credit on:

  • Travel purchases (car rental, hotels, flights, etc.);
  • Everyday purchases (groceries, gas, bill payments, etc.).

The redeeming rate is 1,000 points = $10.

So use your Membership Rewards points to simply pay off your American Express Cobalt® Card balance.

A minimum of 1,000 points (minimum $10) is required, thereafter in increments of one cent per point.

In addition, redeem your Membership Rewards points to:

It offers plenty of opportunities, depending on what you need and when you want it.

national bank world elite mastercard

With the National Bank World Elite Mastercard®, it’s different. NBC points cannot be transferred to other rewards programs.

To redeem your National Bank World Elite Mastercard® rewards points, you’ll need to log in to your NBC Plan Rewards à la carte online account.

You can then use these NBC points in many ways:

Rewards Points for $100
Exchange on the dedicated NBC à la carte Plan portal 10 000
Flexible travel discount
(from 55,000 points redeemed)
11 000
Flexible travel discount (on travel purchases you book yourself) 12 000
Extras à la carte
RRSP or TFSA contribution
Repayment of all-in-one mortgage or mortgage loan
12 000
Gift card 12 000 – 13 500
Statement credit 25 000

 

Advantage: American Express Cobalt Card

Thanks to the great flexibility of the American Express CobaltMD Card and Membership Rewards points, they can be used in a variety of ways. Points can be used for travel purchased on the card:

Other benefits

american express cobalt card

With the American Express CobaltMD Card you can also enjoy :

national bank world elite mastercard

Each calendar year, National Bank World Elite Mastercard® cardholders have a $150 travel credit to reimburse certain travel expenses:

  • Airport parking
  • Baggage fees
  • Seat selection
  • Access to airport lounges
  • Airline ticket upgrades

It also offers :

Advantage: National Bank's World Elite Mastercard®

With its wide range of travel benefits, the National Bank World Elite Mastercard® is unbeatable in this respect.

Whereas for the American Express CobaltMD Card, its benefits are more about everyday purchases.

Insurance

Insurance cobalt card carte world elite de la banque nationale promo exclusive
Trip Cancellation Insurance up to $2,500
Trip interruption insurance up to $5,000
Out-of-province/country emergency medical coverage Up to $5,000,000 for 15 days Up to $5,000,000 for up to 60 days
Flight delay insurance Up to $500
after 4 hours
Up to $500
after 4 hours
Baggage Delay Insurance Up to $500
after 6 hours
Up to $500
after 6 hours
Baggage loss or theft insurance up to $500 up to $1,000
Hotel burglary insurance up to $500
Rental car theft and damage insurance up to $85,000 up to $65,000
Travel accident insurance 250 000 $ 500 000 $
Purchase Protection 1 additional year 2 additional years
Purchase Guarantee Up to $1,000
90 days
Up to $1,000
180 days
Advantage: National Bank's World Elite Mastercard®

The National Bank World Elite Mastercard® offers much more generous additional coverage than the American Express CobaltMD Card.

What’s more, it requires only a portion of travel purchases to be charged to the card. The American Express CobaltMD Card, on the other hand, requires the entire trip to have been charged to it.

Bottom Line

So? Which card is the winner?

In our opinion, these two credit cards complement each other. For everyday shopping, it’s the American Express Cobalt® Card. For travel purchases and insurance, it’s the National Bank World Elite Mastercard®.

The American Express CobaltMD Card is the perfect way to do whatever you want with your points without breaking the bank! In addition, it stands out with:

  • An attractive welcome bonus;
  • Its advantages for everyday purchases (credits for purchases in specific stores, access to show pre-sales, etc.);
  • The absence of a minimum income requirement;
  • Its points that can be used on anything;
  • The possibility of transferring points to several other loyalty programs.

While the National Bank World Elite Mastercard® stands out thanks to..:

  • Its $150 travel credit;
  • Its welcome offer, which arrives a few times a year
  • Its robust travel insurance package, one of the best of any credit card;
  • The possibility of using it at Costco;
  • The opportunity to invest your points in an RRSP, TFSA or to pay off your mortgage;
  • Unlimited access to the National Bank Lounge at Montreal-Trudeau International Airport before your trip.
Come to discuss that topic in our Facebook Group!
Caroline Tremblay

Caroline Tremblay

Caroline Tremblay
Caroline, a loyalty program specialist, helps families maximize their points to travel more frequently and affordably. With expertise in Disney, AIR MILES, and Costco, she travels the world with her partner and two children through rewards. Passionate about the latest in loyalty programs, Caroline shares tips to help you earn more points and turn your travel dreams into reality.
All posts by Caroline Tremblay
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