Introduction
Trying to decide between the Amex Cobalt and Amex Gold Rewards Card? In just 10 easy steps, this guide will help you compare both cards and choose the best one based on bonuses, fees, benefits, rewards, and more.
Earn
up to 60000 Amex points
Annual Fee:
Rewards:
Earn
2
points
for every $1 in Card purchases at eligible gas stations, grocery stores and drugstores in Canada
Earn
up to 15000 Amex points
Annual Fee:
Rewards:
Earn
5x
points
on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.
Earn
up to 15000 Amex points
Annual Fee:
Rewards:
Earn
5x
points
on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.
When it comes to travel rewards credit cards in Canada, two of the most popular choices are the American Express Cobalt Card and the American Express Gold Rewards Card. Both offer access to Amex Membership Rewards points, valuable perks, and flexible redemption options. However, depending on your spending habits, one card may suit you better than the other.
1. Card Details
| Feature | Amex Cobalt Card | Amex Gold Rewards Card |
| Card Brand | American Express | American Express |
| Card Type | Consumer Credit Card | Consumer Credit Card |
| Material | Plastic | Metal (Gold or Rose Gold) |
| Membership Rewards Category | Mid-Level Card | Mid-Level Card |
The Amex Gold Rewards Card stands out with its metal design, while the Cobalt Card is plastic. However, both cards earn Membership Rewards points and fall into the mid-level card category.
2. Welcome Bonuses
| Feature | Amex Cobalt Card | Amex Gold Rewards Card |
| Welcome Bonus | Earn 15,000 Membership Rewards points (1,250 per month) when you spend $750 per month for 12 months | Earn 60,000 Membership Rewards points (5,000 per month) when you spend $1,000 per month for 12 months |
| Estimated Value | $150 (at 1¢ per point) | $600 (at 1¢ per point) |
The Amex Gold Rewards Card has a significantly higher welcome bonus of 60,000 points, valued at $600 compared to 15,000 points ($150) on the Cobalt Card.
3. Card Fees
| Feature | Amex Cobalt Card | Amex Gold Rewards Card |
| Annual Fee | $155.88 ($12.99/month) | $250/year |
| Foreign Transaction Fee | 2.50% | 2.50% |
| Additional Card Fee | Free | First additional card free, then $50 per card |
The Cobalt Card charges a monthly fee of $12.99 instead of an annual fee, making it easier to manage for some users. The Gold Rewards Card costs more upfront but includes a free first supplementary card.
4. Card Benefits (Including Insurance)
Travel & Lifestyle Perks
Amex Gold Rewards Card
The Gold Rewards Card is the winner here. This card is ideal for frequent travelers, offering premium benefits like:
- Four complimentary Plaza Premium Lounge passes per year—perfect for relaxing before flights.
- It also provides a $100 Annual Travel Credit, which helps offset costs on eligible bookings through Amex Travel Online.
- Additionally, cardholders receive a $50 NEXUS credit every four years, making border crossings smoother.
But if you want luxury travel benefits, be sure to check out the Amex Platinum Card in Canada.
Amex Cobalt Card
While the Cobalt Card is strong on everyday spending categories, its travel benefits are limited. It does offer Front of the Line presale tickets and access to exclusive experiences, but it lacks the premium travel benefits of the Gold Card.
Learn More: How to Get the Best Concert Seats with Amex Presales
Insurance Coverage
| Coverage | Amex Cobalt Card | Amex Gold Rewards Card |
| Travel Accident Insurance | $250,000 | $500,000 |
| Baggage Delay Insurance | Up to $500 | Up to $500 |
| Car Rental Theft & Damage | Up to $85,000 | Up to $85,000 |
| Trip Cancellation Insurance | Not included | Up to $1,500 per person (max $3,000 per trip) |
| Trip Interruption Insurance | Not included | Up to $1,500 per person (max $6,000 per trip) |
| Emergency Medical Insurance | Up to $5,000,000 (15 days) | Up to $5,000,000 (15 days) |
The Gold Rewards Card offers better travel insurance, including trip cancellation and interruption coverage, which the Cobalt Card lacks.
5. Reward Rates
| Category | Amex Cobalt Card | Amex Gold Rewards Card |
| Dining & Groceries | 5x points (up to $2,500/month) | 2x points |
| Streaming Services | 3x points | N/A |
| Gas & Transit | 2x points | 2x points |
| Travel | N/A | 2x points |
| Everything Else | 1x point | 1x point |
If you spend heavily on dining, groceries, and food delivery, the Cobalt Card’s 5x rate makes it the better choice. However, the Gold Rewards Card earns 2x points on travel bookings, making it appealing for frequent travellers.
Learn More: How to Earn the Amex Cobalt 5x Points on Food & Drinks
6. Referral Bonuses
| Feature | Amex Cobalt Card | Amex Gold Rewards Card |
| Referral Bonus for Referrer | 5,000 points per referral | 7,500 points per referral |
| Annual Max Referral Points | 75,000 points | 112,500 points |
| Referral Welcome Bonus for Referee | 15,000 points | 70,000 points (includes a 10,000-point bonus in Month 13) |
The Gold Rewards Card has a higher referral bonus for both the referrer and the referee, making it the better choice for those who frequently refer friends and family.
Learn More: How to Earn the Amex Cobalt Referral Bonus
7. Redemption Power: Which Card Gets You Further?
Cobalt Card for Everyday Spenders
Stronger for everyday spenders—5x on food can rack up points quickly, but the $2,500/month cap limits how much you can maximize.
Gold Rewards Card for Travel
Best for travel redemptions—comes with better Aeroplan and Avios transfer rates, making it ideal for frequent flyers.
If you’re looking to redeem for flights, the Gold Rewards Card provides more value with better transfer flexibility to airline programs. However, if your spending is food-heavy, the Cobalt Card’s 5x earning rate makes up for its weaker transfer ratios.
8. Hidden Costs to Consider
The Cobalt’s 5x earn rate on food, drinks and groceries is capped at $2,500/month. If you go over this, you only earn 1x on extra spending.
The Gold Rewards Card has a $250 annual fee, but the $150 in travel credits offsets some of this cost.
Both cards charge a 2.5% foreign transaction fee, so neither is ideal for frequent international purchases.
9. Approval Odds
| Feature | Amex Cobalt Card | Amex Gold Rewards Card |
| Recommended Credit Score | 670+ (Good) | 670+ (Good) |
| Recommended Income | $35,000+ | $50,000+ |
| Approval Difficulty | Easier | Slightly harder |
American Express Canada does not publicly disclose a specific income requirement for these cards. However, a stable income and good credit history can improve your chances of approval.
If you’re ready to see if you qualify, click here to apply now for the Gold Rewards Card, or apply for the Cobalt Card.
10. Final Comparison: Which Card is Better for You?
| Best For | Amex Cobalt Card | Amex Gold Rewards Card |
| Dining & groceries | ✅ | ❌ |
| Travel rewards & insurance | ❌ | ✅ |
| Lower monthly fee | ✅ | ❌ |
| Higher welcome bonus | ❌ | ✅ |
| More accessible approval | ✅ | ❌ |
Choose the Amex Cobalt Card if you spend heavily on dining and groceries and prefer a lower monthly fee.
Choose the Amex Gold Rewards Card if you want better travel benefits, insurance, and a higher welcome bonus.
Is the Gold Rewards Card Right For You?
Right now, the Amex Gold Rewards Card’s 60,000-point welcome bonus is one of the best we’ve seen – worth up to $600 in travel. Don’t miss it!
Apply for the Gold Rewards Card!
Is the Cobalt Card Right For You?
If your focus is on maximizing points on dining and groceries, the Amex Cobalt Card’s 5x points on food is a game-changer. For many, it’s the fastest way to rack up Membership Rewards points for everyday spending.
Still can’t decide? Check out our full reviews of the Cobalt and Gold Cards, or check out our full Amex reviews to compare in even more detail.
And if you’re considering the Platinum Card as well, check out our comparison post: Amex Platinum vs. Amex Gold – Which is Worth It for Travel?
