American Express Cobalt vs MBNA Rewards Platinum Plus Mastercard

By   |   Verified by David Boyd   |   Updated 17 Aug 2023

The main difference between the American Express Cobalt and the MBNA Rewards Platinum Plus Mastercard lies in their rewards structure and standout features. While both cards offer attractive perks for Canadian consumers, there are some striking differences that cater to diverse spending habits and preferences.

When it comes to rewards, the American Express Cobalt card is a champion for the foodies and wanderlusters. With a focus on dining and travel, this card dishes out bonus points for restaurant visits and globetrotting adventures. Plus, its flexible points redemption lets you savor the rewards your way. On the flip side, the MBNA Rewards Platinum Plus Mastercard offers a broader approach, showering you with points on everyday purchases, making it a versatile pick for various spending categories.

The fees differ across these cards. While the American Express Cobalt card involves a monthly fee, it offers increased flexibility to recoup its expenses through earned rewards, particularly for individuals who frequently indulge in dining and travel. Conversely, the MBNA Rewards Platinum Plus Mastercard might be attractive to individuals who favor a card with no annual fee and a simpler rewards system.

When diving into introductory offers and bonuses, the American Express Cobalt card delights with a burst of bonus points for hitting spending milestones – a tempting treat for new cardholders. Meanwhile, the MBNA Rewards Platinum Plus Mastercard tempts you with a different kind of bonus, offering a promotional interest rate on balance transfers, a lifeline for those looking to consolidate credit card debt.

Standout features? The American Express Cobalt card showers you with the Monthly Multiplier, a nifty way to supercharge points earned in select categories. In contrast, the MBNA Rewards Platinum Plus Mastercard shines with a price protection feature, ensuring you snag the best deal on your purchases even after swiping your card.

In the end, your choice boils down to your lifestyle and spending habits. Whether you're a jet setter craving travel rewards or a savvy spender seeking a broader rewards spectrum, both cards present appealing options with distinct flavors. It's worth crunching the numbers and considering your preferences to pick the card that suits your financial taste buds

American Express Cobalt Card
 

On website

MBNA Rewards Platinum Plus Mastercard
 
Description
Offers an attractive rewards program with a focus on earning points quickly on everyday spending categories like dining, streaming subscriptions, and transportation.A no-annual-fee rewards card with the flexibility to redeem merchandise, cashback, and more.
Basics
Additional Cardholders
99
Card Type
American ExpressMastercard
Minimum Credit Limit
N/AN/A
Maximum Credit Limit
N/AN/A
Sign up bonus
Signup Bonus Points
15000 points10000 points
Signup Bonus Points Required Spend
$750.00$500.00
Signup Bonus Points Required Spend Terms
eligible purchases every month for 12 months, that's 1,250 Membership Rewards points for each monthly billing period.on eligible purchases within 90 days and signing up or paperless e-statements.
Rewards
Rewards Program
American Express RewardsMBNA Rewards
Domestic Rewards Points Earn Rate
11
Benefits
Airport Lounge Access Included
YesNo
Concierge Service Included
YesNo
Cardholder's International Travel Insurance
YesNo
Complimentary Flight Voucher Included
NoNo
Introductory balance transfer
Balance Transfer Rate
N/A22.99%
Balance Transfer Period
N/AN/A
Balance Transfer Fee
N/AN/A
Balance Transfer Limit
N/AN/A
Balance Transfer Revert Rate
N/AN/A
Ongoing rates
Cash Advance Rate
21.99% p.a.24.99% p.a.
Purchase Rate Ongoing
21.99% p.a.19.99% p.a.
Ongoing fees
Annual Fee Ongoing
$155.88$0.00
Foreign Exchange Fee
$2.50N/A
Foreign Exchange Fee Percentage
N/A2.5%
Late Payment Fee
$38.00N/A
Overseas ATM Withdrawal Fee
$5.00$5.00
Digital wallets
Apple Pay Enabled
YesYes
Google Pay Enabled
YesYes
Samsung Pay Enabled
YesNo
Eligibility
Available To Existing Customers
NoYes
Minimum Age
18 years18 years
Minimum Credit Rating
GoodGood
Minimum Income
N/AN/A
Temporary Residents Accepted
NoNo