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 60,000 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.
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.
Still Deciding Between Cards?
If you want to see how both of these cards compare against Platinum, Aeroplan, Marriott, and cashback options, review our full Best Amex Cards in Canada (2026 Guide) before making a final decision. Research the Best Amex Cards in Canada (2026 Guide).
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 up to 60,000 Membership Rewards® points: New American Express® Gold Rewards Cardmembers, earn 5,000 Membership Rewards® points for each monthly billing period in which you spend $1,000 in net purchases on your Card Earn 2 points for every $1 in Card purchases for eligible travel purchases, including flights, hotels, car rentals, cruises, and more Earn 2 points for every $1 in Card purchases at eligible gas stations, grocery stores and drugstores in Canada, and 1 point for every $1 in Card purchases everywhere else |
| 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.
Learn More: Want to compare their historical welcome offers? Here’s the full chart.
3. Card Fees
COBALT CARD IMPORTANT NOTICE: Effective November 5, 2025, the monthly fee for non-Quebec residents will increase to $15.99 per month ($191.88 annually), and the annual fee for Quebec residents will increase to $191.88 per year. Apply now before the annual fee increases!
| Feature | Amex Cobalt Card | Amex Gold Rewards Card |
| Annual Fee | $15.99/month (Equals $191.88 annually) for non-Quebec residents. $191.88/year for Quebec residents. | $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 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.
Another advantage for both cards is access to recurring promos like the Amex Additional Card Offer.
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?
Cobalt earns faster at home, but Gold shines on the road. Here’s a Colombia trip where I break down the difference using real costs.
Right now, the Amex Gold Rewards Card’s 60,000-point welcome bonus and travel benefits makes it a great choice for Canadian travellers look to earn points on everyday expenses.
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 other cards, check out our comparison posts:
- Amex Platinum vs. Gold – Which is Worth It for Travel?
- Amex Platinum vs. Cobalt – When is it Time to Upgrade?
- Amex Cobalt vs. SimplyCash – What’s Better for Everyday Spending?
Great detailed breakdown – thank you! I’m wondering your thoughts on holding BOTH of these cards along with a no fee Visa Infinite (Wealthsimple, yes I’m a client there)? Since these cards give their top benefits in really different areas, could I max out points collection by holding both and making sure I spend on the appropriate categories the the appropriate card?
Having both the Cobalt and the Gold can make sense if you’re able to put enough spend through each card to justify the annual fees. As you mentioned, the sweet spots don’t overlap much:
Amex Cobalt is unbeatable for food, dining, and streaming at 5x.
Amex Gold is strong for flights booked with airlines directly, hotels and transit (2x), plus the 4 free airport lounge passes through Priority Pass.
Adding a no-fee Visa Infinite (like Wealthsimple) is smart for places that don’t accept Amex, especially Costco or smaller stores.
Just make sure your monthly spending in each category is high enough to outweigh the second annual fee. If so, then yes, using the right card for the right category is one of the best ways to maximize your Amex points while keeping the no-fee Visa as backup.
Thanks, Britt
HI, I currently have the cobalt personally and a business platimum through my work that gives me the travel credit/lounge perks. Would upgrading to gold personally make any sense at all here?
Hi! Since you already have the Cobalt and a Business Platinum, the Gold would really only make sense if you need personal travel perks your work card doesn’t cover. Gold adds a $100 annual travel credit, stronger travel insurance, and some lounge/NEXUS perks, but it also comes with a higher annual fee. Your Business Platinum already gives you lounge access and credits, so you may find there’s a lot of overlap. In your case I’d stick with the Cobalt.
Thanks, Britt