Intro

When it comes to everyday purchases-groceries, gas, and dining out, having the right rewards card in your wallet makes a big difference. Two of the top Amex cards in Canada for everyday spending are the Amex Cobalt and the Amex SimplyCash. But which one actually gives you more value day to day? Let’s take a look:

Card Details

Card Feature	Amex Cobalt Card	Amex SimplyCash Card
Card Type	Credit Card	Credit Card
Rewards Program	Membership Rewards	Cashback
Target Market	Canadian Consumers	Canadian Consumers
Card Tier	Mid-Level	Entry-Level
Card Style	Plastic	Plastic
Product Category	Travel / Flexible Points	Everyday Cashback

The Amex Cobalt Card offers flexible Membership Rewards that can be redeemed for travel, statement credits, and more. It’s ideal for people who spend heavily on food, drinks, and transit and want strong value from their everyday spending.

The Amex SimplyCash Card is a cashback card that’s easy to use and doesn’t require a points strategy. It’s a great choice for anyone new to rewards cards or looking for a simple way to earn money back without overthinking it.

Ready to Apply?

Apply for the Amex Cobalt Card!

Apply for the Amex SimplyCash Card!

Welcome Bonuses

Card	Bonus Value	Spend Requirement	Timeline
Cobalt	$150 in MR points	$750/month for 12 months	12 months
SimplyCash	$100 cash back	$2,000 total in first 3 months	3 months

The Cobalt Card offers more total value, but it requires consistency.
The SimplyCash Card gives you faster rewards with less commitment.

Card Fees

Fee Type	Amex Cobalt	Amex SimplyCash
Annual Fee	$12.99/month ($155.88/year)	$0
Additional Card Fee	$0	$0
Foreign Transaction Fee	2.5%	2.5%
Purchase Interest	21.99%	21.99%
Penalty APR	25.99%–28.99% (variable)	25.99%–28.99% (variable)
Cash Advance Rate	21.99%	21.99%

Card Benefits & Insurance

The Cobalt Card is built with travel and lifestyle in mind. Perks like The Hotel Collection, premium venue access, and deeper Amex Offers integration make it a strong choice if you’re planning getaways or enjoy events. While the SimplyCash Card shares some Amex Experiences and Offer access, it doesn’t carry the same depth of benefits.

Travel Benefits & Experiences

Feature	Amex Cobalt	Amex SimplyCash
Hotel Perks	Access to The Hotel Collection with perks like room upgrades, late checkout, and $100 USD credit on 2+ night stays	None
Amex Experiences	Special access to advance movie screenings, online offers, weekend getaway packages, and more	Same perks available through Amex Experiences
Front of the Line® Access	Early presale access to concerts, shows, and events	Included
Venue Access	Dedicated entrances and lounges at venues like Budweiser Stage, Massey Hall, and Mirvish Theatres	Included
Amex Offers	Exclusive savings and cashback offers at top retailers and restaurants	Included

Insurance Coverage

Are you a frequent traveller? The Cobalt Card is clearly the stronger pick for travel perks, protection, and redemption flexibility.

The SimplyCash Card offers a solid base with purchase protection and extended warranty, but lacks most travel-specific insurance.

Insurance Type	Amex Cobalt	Amex SimplyCash
Emergency Medical	Up to $5 million for out-of-province/out-of-country travel (first 15 days, under age 65)	Not included
Travel Accident Insurance	Up to $250,000	Up to $100,000
Flight Delay Insurance	Up to $500 for meals/hotels when delayed 4+ hours	Not included
Baggage Delay Insurance	Up to $500 for essentials when baggage is delayed 6+ hours	Not included
Lost or Stolen Baggage	Up to $500 for lost/damaged luggage	Not included
Hotel Burglary Insurance	Up to $500	Not included
Car Rental Insurance	Theft/damage coverage for rentals up to $85,000 (when card is used for booking and insurance waived)	Not included
Mobile Device Insurance	Up to $1,000 coverage on phones purchased with the card	Not included
Extended Warranty	Doubles the manufacturer’s warranty by up to 2 years	Included
Purchase Protection	90-day coverage up to $1,000 per incident for accidental damage or theft	Included

Ready to Apply?

Apply for the Amex Cobalt Card!

Apply for the Amex SimplyCash Card!

Reward Rates

Amex Cobalt – Earn Flexible Points

The Cobalt Card is built for everyday spenders who want to maximize rewards across food, transit, and entertainment. The standout here is the 5x earn rate on groceries and dining, which can add up quickly, especially for families or anyone who eats out often.

Amex SimplyCash – Straightforward Cashback

The SimplyCash Card keeps things simple, with solid earn rates on essentials and no points to manage.

Category	Amex Cobalt	Amex SimplyCash
Groceries	5x points (up to $2,500/month)	2% cashback (up to $15,000/year)
Dining/Delivery	5x points	1.25% cashback
Streaming	3x points	1.25% cashback
Gas & Transit	2x points	2% cashback (gas only)
Everything Else	1x point	1.25% cashback

Which Card Wins?

If you’re comfortable using points and redeeming them strategically (especially for travel), the Cobalt Card delivers more value-especially on food and grocery spending. But if you want a no-fuss solution with cash back you don’t have to think about, the SimplyCash Card offers consistent value with no annual fee.

Referral Bonuses

Referral bonuses can help offset annual fees-or stack up toward your next trip.

Amex Cobalt Referral Bonus

As a Cobalt cardholder, you can earn:

• Per Referral Bonus: 5,000 points
• Annual Max: 75,000 points
• Value per Referral: $50 (based on 1¢/point)

Refer 3 friends to the Amex Cobalt, and you’ve earned 15,000 extra points-enough for a short-haul round-trip flight with the Fixed Points Travel Program.

Amex SimplyCash Referral Bonus

The SimplyCash Card offers a smaller referral bonus, but it’s still a nice perk considering the card has no annual fee.

• Per Referral Bonus: $25 cash back
• Annual Max: $375
• Value per Referral: $25

Ready to Apply?

Apply for the Amex Cobalt Card!

Apply for the Amex SimplyCash Card!

Redemption Power: Which Card Gets You Further?

Want to fly for less? The Cobalt Card gives you far more potential-especially if you’re willing to transfer points or use Fixed Points Travel.

Want simple savings? The SimplyCash Card puts money back in your pocket without the extra steps.

Amex Cobalt: Flexible Rewards with Travel Potential

Cobalt earns Membership Rewards points, which are some of the most flexible rewards in Canada. You can redeem for:

• Travel through Amex Travel at 1,000 points = $10
• Transfer to partners like Aeroplan, Avios, Marriott, and Hilton
• Fixed Points Travel Program, where 15,000 points can cover a round-trip short-haul flight
• Statement credits at 1,000 points = $10
• Amazon or PayPal purchases at 1,000 points = $7 (poor value)
• Gift cards, merchandise, or even charitable donations.

Real-Life Example: Travel vs. Statement Credit

Let’s say you spend $1,000/month on groceries and dining with the Cobalt Card. That’s 5,000 points/month, or 60,000 points/year just from that one category.

• Redeemed for statement credits: 60,000 pts = $600
• Transferred to Aeroplan: Potentially worth $1,000+ in flights

So if you’re working toward a future trip, the Cobalt Card can easily cover a round-trip flight, or even multiple flights, depending on how you redeem.

SimplyCash: Straightforward Cash in Hand

The SimplyCash Card earns cash back, credited to your statement once a year (September billing cycle). There’s no need to track points or transfer to partners.

• Redemption Rate: 1 dollar earned = 1 dollar off your statement
• No categories to worry about when redeeming
• No travel partners or bonus portals to manage

Real-Life Example: Simple Savings Add Up

Let’s say you spend $1,000/month on groceries and gas combined, earning 2% cashback.

• $12,000/year × 2% = $240 cashback
• Add another $12,000 in miscellaneous spend at 1.25% = $150 cashback
  Total Annual Cashback: $390 (no tracking, no strategy)

Best for: People who want to set it and forget it. Cashback shows up automatically,

Hidden Costs to Consider

Before you apply, it’s important to look beyond rewards and welcome bonuses. Here are some things to consider:

1. Foreign Transaction Fees

Both cards charge a 2.5% foreign transaction fee, which applies to purchases made outside Canada-or even online in a foreign currency.

2. Monthly Cap on Cobalt’s 5x Bonus

The Cobalt Card’s 5x earn rate on food and groceries is capped at $2,500 in combined spend per month. Anything beyond that drops to just 1x.

3. Annual Cashback Timing on SimplyCash

The SimplyCash Card only pays out cashback once per year, in your September statement. You won’t see monthly credits or be able to use the cashback throughout the year.

4. Limited Acceptance for Amex Cards

American Express cards, while widely accepted in major cities and online, aren’t accepted everywhere-especially at some grocery chains (e.g. No Frills, Costco) or smaller businesses.

5. Redemption Value Can Vary with Cobalt

If you’re not using points for travel, you might not get full value from the Cobalt Card. While the Cobalt Card offers flexible redemptions, not all options are equal.

Approval Odds

Requirement	Amex Cobalt	Amex SimplyCash
Credit Score	Good (670+)	Good (670+)
Income Requirement	Stable personal income	Stable personal income
Example Income	$35,000–$70,000/year	$35,000–$70,000/year
Minimum Age	Age of majority in your province	Same
Business Info Needed	No	No

Which Card Is Easier to Get Approved For?

While both cards have similar approval requirements, the SimplyCash Card is considered an entry-level product, which may be slightly easier to qualify for if you’re new to credit cards or building credit history.

The Cobalt Card is a mid-tier product with a monthly fee, but if your credit score is in good standing and you have reliable income, your chances are solid.

Ready to Apply?

Apply for the Amex Cobalt Card!

Apply for the Amex SimplyCash Card!

Final Comparison: Which Card Is Better for You?

Both the Amex Cobalt and Amex SimplyCash are excellent everyday cards-but they’re built for different goals.

• Choose the Cobalt Card if you want maximum rewards on food, transit, and streaming, plus travel perks, insurance coverage, and the flexibility to turn points into flights, statement credits, or hotel stays. This card offers serious long-term value, especially for anyone who’s focused on travel or already spending heavily in bonus categories.
• Go with the SimplyCash Card if you prefer straightforward cashback with no annual fee. It’s a low-maintenance card that delivers consistent value on groceries, gas, and everyday purchases-no points strategy required.

Learn More:

• Read the full Amex Cobalt Card Review.
• Read the full SimplyCash Card Review.
• Or if you’re looking to earn even more cashback, check out the SimplyCash Preferred Card Review.

Ready to Apply?

Apply today using the links below to get your welcome bonus and support this site at no extra cost:

• Apply for the Amex Cobalt Card – Earn 15,000 points.
• Apply for the Amex SimplyCash Card – Earn $100 cashback.