Amex Cobalt Vs Amex Gold: Which Card Is Better?

To the point Here's our detailed comparison between the American Express Cobalt® Card and the American Express® Gold Rewards Card.

Welcome bonus Minimum income Annual fee Membership Rewards Points earning

Redeeming points Other benefits

Promotional offers Insurance Bottom line

American Express Canada offers several cards, but two stand out for their popularity:

Let’s take a look at the major differences between the blue and the golden cards.

Welcome bonus

The welcome bonus offered by each of these cards varies according to the promotions.

Here is how the current offer is structured:

With this welcome offer, you can earn up to 30,000 Membership Rewards points, spread over the first 12 months of card ownership.

2,500 Membership Rewards points after $500 in purchases, each month (monthly statement period)

With this welcome offer for the American Express^® Gold Rewards Card, you can earn up to 60,000 Membership Rewards points :

Earn 5,000 Membership Rewards points for each monthly statement period in which you charge $1,000 in net purchases to your card (12 months X 5,000 points).

Advantage: Gold Rewards card but...

Because it gives you more Membership Rewards points, the American Express^® Gold Rewards Card is the winner.

The American Express Cobalt^® Card earns fewer points but also requires less monthly spending. However, our tip is to make the most of your 5X points accumulation at restaurants and grocery stores.

In fact, by combining the welcome bonus (30,000 Membership Rewards points) of the American Express Cobalt^® Card with $500 of purchases at 5X points, another 30,000 Membership Rewards points are added (2,500 points X 12 months), for a total of 60,000 Membership Rewards points.

As a result, 60,000 Membership Rewards points will have been accumulated with $6,000 of spending on the American Express Cobalt^® Card, compared with $12,000 on the American Express^® Gold Rewards Card.

Minimum income

The American Express Cobalt^® Card requires no minimum income.

The American Express^® Gold Rewards Card requires no minimum income.

Draw

This one’s easy!

Like the vast majority of American Express credit cards, these two credit cards do not require a minimum personal income.

Annual fee

The American Express Cobalt^® Card has a fee of $12.99 per month (or $155.88 per year).

Holding the American Express^® Gold Rewards Card has a $250 fee, charged once a year.

Advantage: Cobalt card but...

On paper, the American Express Cobalt^® Card fee costs less than the American Express^® Gold Rewards Card.

But, the American Express^® Gold Rewards Card has an advantage that the American Express Cobalt^® Card doesn’t: an annual $100 travel credit.

This brings the net annual fee for the American Express^® Gold Rewards Card to $150, compared with the $155 fee for the American Express Cobalt^® Card.

Membership Rewards Points earning

The American Express Cobalt^® Card and the American Express^® Gold Rewards Card each offer several levels of point accumulation.

The American Express Cobalt^® Card gives :

5 X points on restaurant purchases, drinks (bars and bistros), groceries and food delivery services (Uber Eats, SkipTheDishes, etc.)
3 X points on streaming services in Canada (Apple TV+, Apple Music, Crave, Disney+, Netflix, RDS, Spotify, etc.)
2 X points on travel and transport purchases (gas station, public transport, plane ticket, hotels, etc.)
1 X points for the rest

For its part, the American Express^MD Gold Rewards Card, you get:

2 X points on travel purchases (gas stations, plane tickets, hotels, car rentals, cruises, trains, etc.)
2 X points on purchases at gas stations, grocery stores and pharmacies
1 X points on the rest

Advantage: Cobalt card

For its 5 X points on everyday purchases at grocery stores, restaurants and food services, the American Express Cobalt^® Card clearly wins this round. In fact, our favorite trick is to buy gift cards at the grocery store at 5X the points, to take advantage of this great accumulation.

Since August 2023, the accumulation of these 5X points has a maximum of $2,500 in purchases per month and a maximum of $30,000 per year. So, from a $2,501 purchase at 5X points, the accumulation decreases to 1 X.

On the other hand, if major purchases are to be made at the pharmacy, the American Express^® Gold Rewards Card is the winner in its category.

Redeeming points

Both American Express cards earn Membership Rewards points, and the redemption process is similar. On this point, the American Express Cobalt^® Card and the American Express^® Gold Rewards Card are no different, and both are winners!

This points program is the most flexible in Canada, allowing :

Apply Membership Rewards points to any travel purchase on the card, as you wish (airline tickets, hotels, Airbnb, car rentals, etc.) 1,000 points are required to reduce the card balance by $10.
To use the American Express Fixed Points Travel for certain airplane tickets. Redemption rate is 1,000 points = $20
Use Membership Rewards points on everyday purchases charged to the card. The redemption rate is 1,000 points = $10.
Transfer points to other rewards programs (Aeroplan, Air France KLM Flying Blue, British Airways Executive Club, Delta Skymiles, Asia Miles, Etihad Guest, Marriott Bonvoy and Hilton Honors).

Other benefits

With the American Express Cobalt^® Card, you enjoy the following benefits:

Mobile Device Insurance
Book with The Hotel Collection for upgrades and credits at unique hotels

With the American Express^® Gold Rewards Card, you enjoy the following benefits:

$ 100 annual travel credit on American Express Online Travel Services (similar to the $200 annual credit on the American Express Platinum Card)
4 free admissions to Plaza Premium airport lounges in Canada per year
$ 50 account credit for NEXUS membership
Free subscription to Priority Pass (after that, admission is charged)
Special benefits (upgrade and free additional driver) for car rental at Hertz
Book with The Hotel Collection for upgrades and credits at unique hotels
The American Express^® Gold Rewards Card is made of metal.
And you can decide the color of your card! Do you prefer it in Gold or Rose Gold?

Advantage: Gold card with rewards

The American Express^® Gold Rewards Card is for people who travel.

The American Express Cobalt^® Card is more of a card for everyday purchases, with no fla fla.

Promotional offers

The American Express Cobalt^® Card and the American Express^® Gold Rewards Card both have promotional offers.

American Express regularly offers savings to its cardholders. They are given on the basis of purchases from targeted retailers and according to each person’s purchasing profile:

a discount (“Spend $100 or more and get a $30 credit”)
bonus points (“Spend $50 and earn 1,000 bonus points”)
a higher accumulation rate (“Earn 4 points per dollar, up to 4,000 bonus points”)

There is no difference between the two cards. You may get certain offers on one card and not on the other, and vice versa.

Insurance

Insurance
Trip Cancellation Insurance	–	Up to $1,500
Trip Interruption Insurance	–	Up to $1,500
Out of Province/Country Emergency Medical Insurance	Up to $5,000,000 15 days	Up to $5,000,000 15 days
Flight delay insurance	Up to $500 after 4 hours	Up to $500 after 4 hours
Misdirected Baggage Insurance	Up to $500 after 6 hours	Up to $500 after 6 hours
Lost or stolen luggage insurance	Up to $500	Up to $500
Hotel Burglary Insurance	Up to $500	Up to $500
Car Rental Theft and Damage Insurance	Up to $85,000	Up to $85,000
Travel accident insurance	250 000 $	$500,000
Purchase Protection^® Plan	1 additional year	1 additional year
Purchase Protection^® Plan	Up to $1,000 90 days	Up to $1,000 90 days
Medical Concierge Service Standby	–	–
Mobile Device Insurance	Up to $1,000	–

Advantage: Gold card with rewards

For the traveller, the American Express^® Gold Rewards Card is the best card for insurance. Unfortunately, the American Express Cobalt^® Card does not offer trip cancellation and interruption insurance.

However, the American Express Cobalt^® Card does offer an attractive mobile device insurance policy.

Bottom line

So? Which Card is the winner?

For people who travel from time to time: the American Express^® Gold Rewards Card, thanks to its travel benefits and insurance!

For everyday purchases, the American Express Cobalt^® Card is best.

There’s no reason why you can’t have both, for a good combination.

The American Express Cobalt^® Card stands out thanks to:

With its unbeatable 5 X points accumulation rate in grocery stores, restaurants and bars
To its mobile device insurance

The American Express^® Gold Rewards Card stands out on:

$ 100 annual travel credit
Travel insurance
Travel benefits (NEXUS credit, 4 free admissions per year to Plaza Premium airport lounges in Canada)
Its beautiful Rose Gold card!