Amex Cobalt Card vs Scotiabank Gold American Express
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
ExcellentCanada's two food-earning heavyweights. The Cobalt's 5x earns transferable points worth about 2¢ at our index; the Scotia Gold's 5-6x earns Scene+ fixed at 1¢, but answers back with no FX fees. Point maximizers take the Cobalt; pragmatists who spend abroad and want simple redemptions take the Scotia Gold.
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 | Scotiabank Gold American Express | |
|---|---|---|
| Standard Score | 7.7/10 · Excellent | 7.2/10 · Strong |
| Annual fee | $191.88 ($15.99 charged monthly (increased from $12.99/mo effective November 5, 2025)) | $120 |
| Welcome bonus | Up to 15,000 MR points (1,250/month for 12 months of qualifying spend) | Up to 50,000 Scene+ points (30,000 on $2K/3 mo + 20,000 on $7.5K in the first year); offer ends November 1, 2026 |
| Est. bonus value | ≈ $285 | ≈ $500 |
| First-year net value | ≈ $699 | ≈ $620 |
| Earn rates |
|
|
| Points currency | Amex Membership Rewards | Scene+ |
| No FX fees | No | Yes |
| Lounge access | No | No |
Where the Amex Cobalt Card wins
- Ongoing value: scores 8.5/10 on this component
- Flexibility: scores 9.0/10 on this component
- Strategic fit: scores 8.5/10 on this component
Where the Scotiabank Gold American Express wins
- Perk usability: scores 8.0/10 on this component
- Low friction: scores 7.5/10 on this component
Read the full reviews: Amex Cobalt Card and Scotiabank Gold American Express, 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 and Scene+ Points Value. Each has a calculator for your balance.