American Express Cobalt vs Scotiabank Gold American Express Card

By   |   Verified by David Boyd   |   Updated 17 Aug 2023

The main difference between the American Express Cobalt and Scotiabank Gold American Express Card lies in their rewards structure and perks. While both cards cater to the Canadian taste for rewards, they sport some striking differences that could sway your choice.

When it comes to rewards, the American Express Cobalt card dances to the beat of your lifestyle, offering an array of categories to earn points from, such as dining, groceries, travel, and more. On the flip side, the Scotiabank Gold American Express Card focuses on travel enthusiasts, packing a punch with its accelerated points for travel-related expenses like flights, hotels, and dining.

Speaking of fees, the Cobalt card often appeals with a lower annual fee, but the Scotiabank Gold American Express Card counters with a generous annual travel credit. Both cards do play the introductory game, but the Cobalt card might capture your attention with its points boost during the first year, while Scotiabank's offering is more about flexible rewards.

Bonuses and perks? The Cobalt card sways you with its monthly bonus point potential and sweet redemption options, while the Scotiabank Gold American Express Card throws in airport lounge access and comprehensive travel insurance to sweeten the pot. Fancy those standout features? The Cobalt card boasts the 'Monthly Membership Rewards' multiplier, while Scotiabank's card delights with its travel benefits.

At the end of the credit card day, both the American Express Cobalt and Scotiabank Gold American Express Card share the stage with impressive offerings, but it's the fine print of their rewards, fees, and bonuses that'll have you tapping your plastic with a knowing grin. So, whether you're a foodie with wanderlust or a travel aficionado with an appetite, these cards are vying to be your wallet's BFF

American Express Cobalt Card
 

On website

Scotiabank Gold American Express Card
 
Description
Offers an attractive rewards program with a focus on earning points quickly on everyday spending categories like dining, streaming subscriptions, and transportation.Save 2.5% on foreign transaction fees and earn up to 6X the Scene+ points on every $1 CAD you spend in Canada on eligible grocery, dining, and entertainment purchases.
Basics
Additional Cardholders
910
Card Type
American ExpressAmerican Express
Minimum Credit Limit
N/A$5,000.00
Maximum Credit Limit
N/AN/A
Sign up bonus
Signup Bonus Points
15000 points20000 points
Signup Bonus Points Required Spend
$750.00$1,000.00
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.everyday purchases in the first 3 months, plus an additional 20,000 Scene+ point bonus when you spend at least $7,500 in everyday eligible purchases in your first year. That's a total of 40,000 points.
Rewards
Rewards Program
American Express RewardsScotia Rewards
Domestic Rewards Points Earn Rate
11
Cashback Percentage Grocery Spend
N/AN/A
Cashback Percentage Petrol Spend
N/AN/A
Cashback Percentage Any Domestic Spend
N/AN/A
Benefits
Airport Lounge Access Included
YesYes
Concierge Service Included
YesYes
Cardholder's International Travel Insurance
YesYes
Complimentary Flight Voucher Included
NoNo
Introductory balance transfer
Balance Transfer Rate
N/AN/A
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.22.99% p.a.
Purchase Rate Ongoing
21.99% p.a.20.99% p.a.
Ongoing fees
Annual Fee Ongoing
$155.88$120.00
Foreign Exchange Fee
$2.50$0.00
Foreign Exchange Fee Percentage
N/A0%
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
YesYes
Eligibility
Available To Existing Customers
NoNo
Minimum Age
18 years18 years
Minimum Credit Rating
GoodGood
Minimum Income
N/A$60,000.00
Temporary Residents Accepted
NoNo