Amex Cobalt Card vs Amex Platinum Card (Canada)
Two cards, one Standard Score rubric. The Amex Platinum Card (Canada) scores higher overall at 7.8/10, but the right pick depends on which components match your spending.
The verdict
ExcellentThese aren't rivals so much as a sequence: the Cobalt earns Membership Rewards faster than any card in Canada, and the Platinum converts travel days into lounges, credits, and status. If you fly less than 3-4 times a year the Platinum's fee never clears, and the Cobalt is the easy answer. Frequent travellers often carry both: one to earn, one to travel on.
See offer · current Amex Platinum Card (Canada) 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 Platinum Card (Canada) | |
|---|---|---|
| Standard Score | 7.7/10 · Excellent | 7.8/10 · Excellent |
| Annual fee | $191.88 ($15.99 charged monthly (increased from $12.99/mo effective November 5, 2025)) | $799 |
| Welcome bonus | Up to 15,000 MR points (1,250/month for 12 months of qualifying spend) | Up to 100,000 MR points (70,000 on $10K/3 mo + 30,000 on a purchase in months 15-17) |
| Est. bonus value | ≈ $285 | ≈ $1,900 |
| First-year net value | ≈ $699 | ≈ $1,330 |
| 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 Platinum Card (Canada) wins
- First-year value: scores 8.5/10 on this component
- Perk usability: scores 7.5/10 on this component
Read the full reviews: Amex Cobalt Card and Amex Platinum Card (Canada), or see how both rank in Best Credit Cards for Groceries and Dining in Canada.
What the points are worth in dollars: Amex Membership Rewards Value. Each has a calculator for your balance.