American Express Canada and National Bank each offer a credit card that earns 5 points per dollar spent at grocery stores and restaurants:
These are two basic cards that we often recommend when someone wants to get points quickly and easily.
So, we will analyze what are the main differences between these credit cards on:
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.
When you subscribe to the American Express CobaltMD Card, you can earn up to 15,000 points:
With the current welcome offer, receive up to 35,000 bonus points earned as follows:
What’s more, the annual fee is fully refunded in the first year.
Thanks to its welcome bonus, the American Express CobaltMD Card offers the most, with a reasonable spending amount.
The American Express Cobalt® Card requires no minimum income.
The National Bank World Elite Mastercard requires :
The American Express CobaltMD Card requires no minimum income, unlike the National Bank World Elite Mastercard®.
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.
The National Bank World Elite Mastercard® has an annual fee of $150.
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.
The American Express CobaltMD Card and the National Bank World Elite Mastercard® each offer similar levels of point accumulation.
With the American Express CobaltMD Card, you can earn up to 5 points per dollar:
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.
With the National Bank World Elite Mastercard®, you can also earn up to 5 points per dollar:
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.
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.
Both cards are part of different loyalty programs:
Thus, the ways of using the points are different.
The American Express CobaltMD Card is highly versatile and flexible. You can redeem Membership Rewards points for a statement credit on:
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.
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:
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:
With the American Express CobaltMD Card you can also enjoy :
Each calendar year, National Bank World Elite Mastercard® cardholders have a $150 travel credit to reimburse certain travel expenses:
It also offers :
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.
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.
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:
While the National Bank World Elite Mastercard® stands out thanks to..:
Savings are here:
