Amex Cobalt Card vs Amex Gold Rewards Card
Two cards, one Standard Score rubric. The Amex Cobalt Card scores higher overall at 7.7/10 — but the right pick depends on which components match your spending.
The verdict
ExcellentThe Gold Rewards wins the first year on bonus size; the Cobalt wins every year after on its 5x food earn — the strongest earn rate in Canadian cards. If you're opening one card this year, take the Gold's bonus; if you're holding long term, the Cobalt out-earns it decisively. The hobbyist answer is both: they pool a single Membership Rewards balance.
See offer · current Amex Cobalt Card offer, direct from the issuer
Rewards math assumes you pay your balance in full every month — interest charges quickly exceed any rewards value.
| Amex Cobalt Card | Amex Gold Rewards Card | |
|---|---|---|
| Standard Score | 7.7/10 · Excellent | 7.5/10 · Excellent |
| Annual fee | $191.88 ($15.99 charged monthly (increased from $12.99/mo effective November 5, 2025)) | $250 |
| Welcome bonus | Up to 15,000 MR points (1,250/month for 12 months of qualifying spend) | Up to 60,000 MR points (5,000/month on $1K monthly spend for 12 months) — the widely promoted 90,000 is a referral-only offer |
| Est. bonus value | ≈ $285 | ≈ $1,140 |
| First-year net value | ≈ $699 | ≈ $1,040 |
| Earn rates |
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| Points currency | Amex Membership Rewards | Amex Membership Rewards |
| No FX fees | No | No |
| Lounge access | No | Yes |
Where the Amex Cobalt Card wins
- Ongoing value — scores 8.5/10 on this component
- Low friction — scores 6.5/10 on this component
- Strategic fit — scores 8.5/10 on this component
Where the Amex Gold Rewards Card wins
- First-year value — scores 7.5/10 on this component
- Perk usability — scores 7.5/10 on this component
Read the full reviews: Amex Cobalt Card and Amex Gold Rewards Card, or see how both rank in Best Rewards Credit Cards in Canada.