Head-to-Head: Amex Cobalt Card vs. Amex Gold Rewards Card

The American Express Gold Rewards Card has long been considered one of Canada’s most iconic credit cards; however, it’s the American Express Cobalt Card that has received the lion’s share of attention since its launch over seven years ago. 

The Amex Cobalt Card is often considered the ultimate lifestyle card, popular among millennials thanks to its excellent category spending multipliers. Meanwhile, the Gold Rewards Card continues to be known for providing a generous welcome bonus without a particularly high annual fee.

Both cards are powerful means for earning Membership Rewards points, renowned for their flexibility and value in unlocking high-value travel. 

In this edition of Head-to-Head, we’ll pit the American Express Cobalt Card against the American Express Gold Rewards Card to help guide your decision on which is best for your wallet.

Card Basics

1. Welcome Bonus

Let’s start by comparing the welcome bonuses on the two cards from a historical viewpoint, as the specific bonuses at any moment in time can always fluctuate.

For the past few years, the American Express Gold Rewards Card has offered a welcome bonus between 50,000 and 75,000 Membership Rewards (MR) points.

Recently, the welcome bonus has been awarded gradually with a monthly minimum spending requirement, with an initial boost of points in the first few months. We’ve also seen some parts of the welcome bonus structured as 10x points on travel, or as a second-year component to be granted between months 14 and 17.