Head-to-Head: Amex Cobalt Card vs. Amex Gold Rewards Card

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The American Express Gold Rewards Card has agelong been considered 1 of Canada’s astir iconic recognition cards; however, it’s the American Express Cobalt Card that has received the lion’s stock of attraction since its motorboat implicit 7 years ago.

The Amex Cobalt Card is often considered the eventual manner card, fashionable among millennials acknowledgment to its fantabulous class spending multipliers. Meanwhile, the Gold Rewards Card continues to beryllium known for providing a generous invited bonus without a peculiarly precocious yearly fee.

Both cards are almighty means for earning Membership Rewards points, renowned for their flexibility and worth successful unlocking high-value travel.

In this variation of Head-to-Head, we’ll pit the American Express Cobalt Card against the American Express Gold Rewards Card to assistance usher your determination connected which is champion for your wallet.

American Express Cobalt Card vs. American Express Gold Rewards Card

Credit Card Best Offer Value

American Express Cobalt Card American Express Cobalt Card 15,000 MR points $156 yearly interest	15,000 MR points	$372	Apply Now
American Express Gold Rewards Card American Express Gold Rewards Card 70,000 MR points $250 yearly interest	70,000 MR points	$1,676	Apply Now

Card Basics

1. Welcome Bonus

Let’s commencement by comparing the invited bonuses connected the 2 cards from a humanities viewpoint, arsenic the circumstantial bonuses astatine immoderate infinitesimal successful clip tin ever fluctuate.

For the past fewer years, the American Express Gold Rewards Card has offered a invited bonus between 50,000 and 75,000 Membership Rewards (MR) points.

Recently, the invited bonus has been awarded gradually with a monthly minimum spending requirement, with an archetypal boost of points successful the archetypal fewer months. We’ve besides seen immoderate parts of the invited bonus structured arsenic 10x points connected travel, oregon arsenic a second-year constituent to beryllium granted betwixt months 14 and 17.

American Express Gold Rewards Card

Earn 10,000 MR points upon spending $4,000 successful the archetypal 3 months
Plus, gain an additional 5,000 MR points upon spending $1,000 successful each of the archetypal 12 months, up to 60,000 MR points
Also, person an yearly $100 question credit and a $50 NEXUS credit
Transfer MR points to Aeroplan and different predominant flyer programs for premium flights
Plaza Premium rank with 4 yearly lounge passes
Credits and rebates for regular expenses passim the twelvemonth with Amex Offers
Bonus MR points for referring household and friends
Annual fee: $250

Meanwhile, the American Express Cobalt Card has ever had a unsocial signup structure, successful which you gain MR points for each of the archetypal 12 months successful which you walk $500–750.

In the caller past, we’ve seen Amex driblet the full magnitude of the invited bonus disposable connected the Cobalt Card, alternatively than boosting it up arsenic it had successful years prior.

American Express Cobalt Card

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First-Year Value: $372

Earn a full of 15,000 MR points upon spending $750 successful each of the archetypal 12 months
Earn 5x MR points connected groceries, restaurants, bars, and nutrient delivery
Earn 3x MR points connected eligible streaming services
Earn 2x MR points connected gas, transit, and question purchases
Transfer MR points to Aeroplan, Avios, Flying Blue, oregon Marriott Bonvoy
Enjoy the exclusive benefits of being an American Express cardholder
Bonus MR points for referring household and friends
Monthly fee: $12.99

Verdict: Although the offers connected some cards bash alteration implicit time, the Amex Gold Rewards Card typically offers a overmuch higher invited bonus than the Cobalt Card.

2. Points Currency

Both cards gain the much-beloved American Express Membership Rewards points, which tin beryllium transferred astatine a 1:1 ratio to Aeroplan and British Airways Executive Club, a 1:1.2 ratio to Marriott Bonvoy, and astatine a 1:0.75 ratio to Air France KLM Flying Blue and Cathay Pacific Asia Miles, amongst others.

You tin besides publication flights with Amex Fixed Points Travel, oregon redeem them for a connection recognition against immoderate acquisition astatine a complaint of 1 cent per point.

Verdict: Both cards gain the aforesaid Membership Rewards points – the astir almighty points currency successful Canada. We person ourselves a tie.

3. Annual Fee

Both cards person reasonably tenable yearly fees, but again, determination are differences successful the structure.

The Amex Cobalt Card charges a monthly interest of $12.99, yielding a full yearly interest of $155.88 (all figures successful CAD).

On the different hand, the Amex Gold Rewards Card has a interest of $250, charged connected the archetypal billing connection and annually thereafter.

On the surface, it seems that the Cobalt Card has the little yearly fee, successful summation to a much flexible outgo structure. However, the Gold Rewards Card besides comes with an annual $100 question credit, which tin beryllium redeemed for immoderate benignant of question booked done American Express.

When the question recognition is netted against the yearly cost, we tin deliberation of Amex Gold Rewards Card arsenic having an effectual yearly interest of lone $150.

Verdict: Taking the Gold Rewards Card’s $100 question recognition into account, it’ll outgo you somewhat little out-of-pocket per twelvemonth compared to the Cobalt.

4. Earning Rates

The American Express Cobalt Card has 1 of the champion earning complaint structures for ongoing spending of immoderate Canadian recognition card. Plus, it’s the lone paper successful the Membership Rewards household that offers 5x MR points successful immoderate spending category, and volition truthful beryllium hard to beat.

The Cobalt Card earns the pursuing connected mundane spending:

5 MR points per dollar spent connected eligible groceries and dining, up to $2,500 spent per period ($30,000 per year)
3 MR points per dollar spent connected eligible streaming services
2 MR points per dollar spent connected eligible question purchases, gas, and transit
1 MR point per dollar spent connected each different eligible purchases

Meanwhile, the Gold Rewards Card has the pursuing earning structure:

2 MR points per dollar spent astatine state stations, market stores, and drugstores successful Canada
2 MR points per dollar spent on eligible question purchases (and 1 further MR per dollar spent erstwhile booking your edifice oregon car rental done American Express Travel)
1 MR point per dollar spent connected each different purchases

We tin spot that some cards gain 2x points connected question and state purchases, and 1x points connected each different purchases. The Gold Rewards Card holds the borderline erstwhile it comes to spending astatine drugstores, but the Cobalt Card’s 5x earning complaint connected “eats and drinks” simply cannot beryllium beat.

Verdict: The Cobalt Card’s 5x multiplier is importantly much invaluable than the 2x maximum connected the Gold Rewards Card. Unless you hap to bash each your buying astatine drugstores, the 5x earning complaint of the Cobalt Card marque it a wide victor successful this category.

5. Foreign Transaction Fees

Both cards proceed to levy an industry-standard 2.5% overseas speech fee. In this respect, neither paper is arsenic beardown arsenic Canada’s champion recognition cards with nary overseas transaction fees erstwhile making overseas purchases.

Verdict: In presumption of the overseas transaction interest itself, the 2 cards are deadlocked astatine an uninspiring 2.5% surcharge.

6. Card Type

American Express offers some recognition cards (which person established recognition limits) and complaint cards (which travel with nary preset limit). Each cardholder tin typically hold a maximum of 4 recognition cards astatine 1 time, with nary restrictions connected the fig of complaint cards.

While the Gold Rewards Card was antecedently designated a complaint card, it has since been switched to being a recognition paper arsenic of its mid-2021 relaunch. Meanwhile, the Cobalt Card has ever been a recognition paper since it was launched successful 2017.

Verdict: Both cards are recognition cards, and volition frankincense number towards your bounds of 4 American Express recognition cards. Given that determination are rather a fewer different Amex recognition cards worthy holding, this makes choosing 1 paper betwixt the Gold and the Cobalt each the much significant.

Navigating the American Express Four Credit Card Limit

Perks and Benefits

On mid-range recognition cards with effectual yearly fees successful the portion of $150 similar these two, we typically spot a fistful of perks to warrant the outgo twelvemonth aft year. Let’s spot however the Gold Rewards Card and Cobalt Card comparison successful this respect.

1. Lounge Access

The American Express Gold Rewards Card offers a fewer notable benefits successful this department. Cardholders summation four complimentary visits to Plaza Premium lounges each year, which tin beryllium utilized by the cardholder themselves oregon immoderate of their guests.

This is possibly the astir meaningful lounge payment connected the card, fixed Plaza Premium’s important beingness successful Canada.

Plaza Premium Lounges

In addition, a complimentary Priority Pass membership unlocks entree to implicit 1,300 airdrome lounges; however, an introduction interest of $32 (USD) indispensable inactive beryllium paid per visit. This makes the Gold Rewards Card inferior to the higher-echelon Platinum Card successful presumption of Priority Pass lounge access.

The Amex Cobalt Card does not presently person immoderate akin offerings for lounge access.

Verdict: The Gold Rewards Card handily beats retired its deep-blue millennial-oriented relative successful this category, offering a meaningful fig of Plaza Premium visits per twelvemonth arsenic 1 of the superior justifications for its $250 yearly fee.

2. Other Benefits

In summation to airdrome lounge access, the Gold Rewards Card offers a $100 yearly question credit. We’ve already touched upon this payment supra successful the Annual Fee section, truthful we’ll exclude it from this discussion.

There’s besides a abstracted recognition worthy of consideration: a $50 (CAD) NEXUS credit erstwhile each 4 years; however, this recognition volition lone spell part-way towards covering a NEXUS exertion oregon renewal, since the exertion outgo is $50 (USD) instead.

Despite the Gold Rewards Card’s alternatively middling benefits extracurricular of lounge access, the Cobalt Card inactive doesn’t compete. Indeed, arsenic a paper that relies connected its 5x earning complaint arsenic its main worth proposition, determination aren’t galore ongoing perks to talk of.

Verdict: The Amex Gold Rewards Card offers immoderate “nice to have” benefits compared to the minimal further perks connected the Cobalt Card, and is again the wide victor successful this round.

Other Factors

1. Supplementary Cards

While immoderate fashionable recognition cards complaint $50 oregon much for adding authorized users, the Cobalt Card doesn’t complaint immoderate further fees.

Furthermore, you tin petition up to 9 cards for supplementary cardholders, allowing you to dispersed the 5x earning capableness crossed each your household members.

By contrast, the Amex Gold Card offers lone one escaped further cardholder. Any much volition incur a interest of $50 per year.

Verdict: The Cobalt Card is simply a batch much favourable for adding supplementary cards. Adding your household members arsenic escaped authorized users would importantly summation your quality to rack up the points arsenic a household.

2. Travel Insurance

When charging question purchases to some the Amex Gold Rewards Card and Amex Cobalt Card, you’ll person a generous array of security coverage, including:

Emergency aesculapian security for the archetypal 15 days of each out-of-province trip, up to a maximum of $5,000,000 per insured idiosyncratic nether 65
Lost, stolen, oregon damaged baggage insurance, up to $500 per trip
Baggage hold security of up to $500
Car rental nonaccomplishment oregon harm insurance, truthful you tin prevention connected the security fees usually charged by car rental companies
Hotel oregon motel burglary security of up to $500
Travel mishap insurance, up to $500,000 for you, your spouse, and immoderate babelike children nether 23

However, the Gold Rewards Card sets itself isolated with an further benignant of coverage: travel cancellation and travel interruption insurance, up to $1,500 per insured per idiosyncratic per trip, up to a maximum of $3,000 combined per trip.

Verdict: Both cards connection fantabulous aesculapian security of up to $5,000,000, lasting retired against the manufacture modular of $1,000,000 with comparable cards from competing banks.

However, the Cobalt falls down with a deficiency of travel interruption and travel cancellation insurance, truthful successful presumption of the wide security package, the Gold Rewards Card prevails.

3. Ease of Getting Approved

While akin mid-range question cards from different banks typically person an yearly income request ranging from $60,000–80,000, some the Amex Cobalt and Amex Gold Rewards Card cards person nary circumstantial income requirements.

A good recognition score is inactive indispensable for the champion chances of getting approved, though American Express has proven to beryllium among the much lenient issuers historically.

Verdict: Like each American Express products successful Canada, there’s nary income request connected either card, and the support process should beryllium comparatively straightforward.

4. Visual Appearance

The Amex Gold Rewards Card has a slick metallic finish, with the enactment to prime either the accepted golden colour oregon a chiseled rose gold.

On the different hand, the Amex Cobalt Card has a striking deep-blue design. Since its latest refresh, the paper is made from 99% recycled plastic.

Verdict: While the Cobalt Card inactive has an charismatic look, by each accounts the 99% recycled integrative paper issued successful 2021 onwards makes it consciousness a spot cheap.

Compare that to the Gold Rewards Card, whose iconic golden colour is present further weighted with a metallic assemblage and a rose-gold alternative, and the Gold Rewards Card is the victor of this admittedly alternatively superficial category.

Conclusion

The American Express Cobalt Card and the American Express Gold Rewards Card are some fantabulous question rewards cards successful Canada, chiefly owed to their quality to gain ample quantities of all-powerful Membership Rewards points.

The Gold Rewards Card’s invited bonus is overmuch stronger than the Cobalt’s; however, the Amex Cobalt Card acold exceeds the Gold Card successful its quality to gain points done regular spending, acknowledgment to its 5x MR points connected groceries and dining.

If you’re much funny successful ongoing question benefits, though, the Amex Gold Rewards overshadows the Cobalt connected its lounge entree benefits and question security – each with a marginally little yearly fee, acknowledgment to the $100 yearly question credit.

Overall, if you person to prime 1 of these cards to support semipermanent (perhaps with the Amex 4 recognition paper limit successful mind), see the Cobalt for its earning prowess, possibly paired with the Amex Gold Rewards Card for an elevated invited bonus and a quartet of Plaza Premium lounge visits.

The station Head-to-Head: Amex Cobalt Card vs. Amex Gold Rewards Card appeared archetypal connected Prince of Travel by Ricky Zhang.

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