American Express Cobalt Card vs American Express Platinum Card
The short answer: for most people the American Express Cobalt Card is the better overall card — we rate it 4.8/5 and it shines if you want foodies and everyday spenders who want maximum points on dining and groceries. Choose the American Express Platinum Card instead if your priority is frequent travellers who want top-tier lounge access and transferable points.
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| Our rating | 4.8 | 4.7 |
|---|---|---|
| Annual fee | $156/yr | $799/yr |
| Welcome bonus | ~$300 | ~$1,200 |
| Foreign transaction fee | 2.5% | 2.5% |
| Rewards type | points | points |
| Top earn rates |
|
|
| Purchase interest | 21.99% | 21.99% |
| Income required | None stated | None stated |
| Best for | Foodies and everyday spenders who want maximum points on dining and groceries | Frequent travellers who want top-tier lounge access and transferable points |
| Apply now | Apply now |
American Express Cobalt Card
Our winnerThe Cobalt is the gold standard for food-and-grocery earning in Canada. If you spend heavily at restaurants and supermarkets and value flexible, transferable points, nothing else comes close.
American Express Platinum Card
Canada's flagship premium travel card. The lounge access, travel credits and hotel status can outweigh the steep fee for those who travel often — and the points are the most flexible going.
Frequently asked questions
Is the American Express Cobalt Card or the American Express Platinum Card better?
For most Canadians, the American Express Cobalt Card is the better overall pick (we rate it 4.8/5 vs 4.7/5). It's especially strong if you want foodies and everyday spenders who want maximum points on dining and groceries. The American Express Platinum Card can still win if you specifically want frequent travellers who want top-tier lounge access and transferable points.
Which card has the lower annual fee?
The American Express Cobalt Card has the lower annual fee (a $156 annual fee vs a $799 annual fee).
Do either of these cards charge foreign transaction fees?
American Express Cobalt Card: 2.5% foreign transaction fee. American Express Platinum Card: 2.5% foreign transaction fee.