Is Amex Cobalt or Amex Gold the best card?

For everyday purchases, the American Express Cobalt Card is the best, offering 5X points at grocery stores and restaurants.For those who travel a few times a year, the American Express® Gold Rewards Card is the ideal choice, thanks to its access to airport lounges across Canada and its comprehensive travel insurance benefits.

Which card delivers a better long-term return on travel spending?

The American Express Gold Rewards Card wins on travel-specific spending thanks to 2 points per dollar on travel plus a $100 annual travel credit, while the Cobalt's travel multiplier dropped to 1 point per dollar in October 2024.For a household spending $5,000 annually on travel, that swing alone represents:- Gold: 10,000 Membership Rewards (worth $200+ at airline transfer rates) + $100 travel credit = $300 in value; - Cobalt: 5,000 Membership Rewards = $100 in value; Net annual cost favours the Gold by roughly $50 once you factor in fees and the travel credit. For non-travel everyday spending, Cobalt still leads.

Should I switch from Cobalt to Gold if I already have the Cobalt?

It depends on your spending pattern. Stay with the Cobalt if:- Your monthly grocery + dining spend is $2,000+ (you fully use the 5x cap); - You don't travel enough to absorb the $100 travel credit; - You value monthly billing flexibility; Upgrade to the Gold if:- You travel 2+ times per year and book through the Amex travel portal; - You spend $1,000+ monthly for the welcome offer thresholds; - You'd benefit from 4 Plaza Premium lounge passes per year; Many advanced cardholders hold both cards simultaneously, using Cobalt for groceries and dining and Gold for travel and gas.

How do I find the credit card that matches my profile?

To compare these cards against other Canadian offers based on your criteria (annual fee, rewards type, minimum income), use our credit card comparator. You can also browse the best credit cards in Canada, ranked monthly by the Milesopedia team.