American Express Cobalt Card vs Scotiabank Gold American Express
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 Scotiabank Gold American Express instead if your priority is grocery shoppers and travellers who want no foreign transaction fees.
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| Our rating | 4.8 | 4.7 |
|---|---|---|
| Annual fee | $156/yr | $120/yr |
| Welcome bonus | ~$300 | ~$650 |
| Foreign transaction fee | 2.5% | None |
| Rewards type | points | points |
| Top earn rates |
|
|
| Purchase interest | 21.99% | 20.99% |
| Income required | None stated | None stated |
| Best for | Foodies and everyday spenders who want maximum points on dining and groceries | Grocery shoppers and travellers who want no foreign transaction fees |
| 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.
Scotiabank Gold American Express
A do-it-all rewards card: category-leading grocery earning, strong dining and entertainment multipliers, and no FX fee for when you travel or shop in USD.
Frequently asked questions
Is the American Express Cobalt Card or the Scotiabank Gold American Express 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 Scotiabank Gold American Express can still win if you specifically want grocery shoppers and travellers who want no foreign transaction fees.
Which card has the lower annual fee?
The Scotiabank Gold American Express has the lower annual fee (a $120 annual fee vs a $156 annual fee).
Do either of these cards charge foreign transaction fees?
American Express Cobalt Card: 2.5% foreign transaction fee. Scotiabank Gold American Express: no foreign transaction fee.