What happened
- Amex Cobalt: Offers up to 15,000 Membership Rewards (MR) points over the first year, requiring $750 spend in each of the first 12 months.
- Scotiabank Gold Amex: Offers up to 45,000 Scene+ points, with 25,000 after $2,000 spend in 3 months and 20,000 after $7,500 total spend in the first year. Annual Fees:
- Amex Cobalt: $15.99 monthly ($191.88 annually).
- Scotiabank Gold Amex: $120 annual fee charged upfront. Earning Rates:
- Amex Cobalt: 5x MR on groceries, dining, food delivery; 3x on streaming; 2x on transit, gas, rideshare; 1x elsewhere.
- Scotiabank Gold Amex: Earning structure detailed in full article (typically higher on dining/groceries in CAD). Other Features:
- Amex Cobalt: Includes a referral bonus of 5,000 MR points per referral (up to 75,000/year).
- Scotiabank Gold Amex: No referral bonus. The article concludes that the Scotiabank card offers a higher total bonus with lower spend requirements, while the Cobalt card wins on referral potential
Prince of Travel provides a head-to-head comparison of two Canadian credit cards known for strong earning rates: the American Express Cobalt Card and the Scotiabank Gold American Express® Card. Welcome Bonuses: