American Express Cobalt® Card vs American Express® Aeroplan®* Reserve Card: Which one is better?
American Express Cobalt® Card
5
American Express® Aeroplan®* Reserve Card
4.1
Rewards Breakdown
Annual Rewards
$1,096
American Express Membership Rewards
First Year Bonus
$315
American Express Membership Rewards
Annual Fee
$155.8
First Year Value
$1,255.2
$940.2 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$659.8
Air Canada Aeroplan®
First Year Bonus
$0
Air Canada Aeroplan®
Annual Fee
$599
First Year Value
$60.8
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Lost or Stolen Baggage
$500
Baggage Delay
$500.svg)
Car Rental Damage & Theft
yes
Travel Accident
$250,000
Extended Warranty
Up to 1 year
Purchase Protection
90 days
Hotel Burglary Insurance
$500
Emergency Out of province Medical
15 daysFlight Delay
$500
Mobile Device Insurance
$1,000
Insurance Included*
Lost or Stolen Baggage
$1KBaggage Delay
$1K/person after 6 hoursCar Rental Damage & Theft
$85K Up to 48 consecutive rental daysTravel Accident
$500,000Extended Warranty
1 yearsPurchase Protection
90 daysHotel Burglary Insurance
$1000Emergency Out of province Medical
$5M/insured up to 15 daysFlight Delay
$1,000/person after 4 hours
Trip Cancellation
$1.5K/person, $3K/trip
Trip Interruption
$1.5K/person, $6K/trip
Extra Benefits*
Amex Experiences™
Access Front Of The Line® Amex Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with Amex Experiences™.svg)
Travel Credit
Book two or more consecutive nights at participating properties through The Hotel Collection with American Express Travel to receive a $100 credit for amenities or a complimentary room upgrade, if available.
Extra Benefits*
Amex Experiences™
Amex Experiences™ opens doors for you to access a number of special events, including special dining experiences, VIP parties, advance film screenings and more
Companion Voucher
Annual Worldwide Companion Pass from $99 to a max of $599 After spending $25,000 on your card.svg)
Status lift
Reach Aeroplan Elite™ Status sooner by earning 1,000 Status Qualifying Miles and one (1) Status Qualifying Segment for every $5,000 of net purchasesStatus lift
Complimentary upgrade to Avis® President's ClubStatus lift
Primary Cardholders who also hold Aeroplan Elite Status can roll over up to 200,000 Status Qualifying Miles (SQM) beyond the status level for which they’ve qualified, from the prior qualification year to qualify for status the next year.Status lift
Primary Cardholders who also hold Aeroplan Elite Status will benefit from an extra 12 months to use eUpgrade credits, for a total of 24 months from issuance..svg)
Free first checked bag
First checked bag is free for primary cardholder on WestJet flight and up to 8 guests
Extra points
Earn points twice at over 150 Aeroplan partner brands and over 170 online retailers through the Aeroplan eStore
Free Extra Night at Hotels
Cardmembers can now get an extra night free for every 3 hotel nights redeemed with Aeroplan points.
Nexus Program Rebate
$100 every 4 years
Priority Travel
At Toronto Pearson airport get benefits such as Priority Security lane, Complimentary valet, premium parking spots, priorioty taxi and limo lane and discount for parking and car care.Priority Travel
Get Priority Check-in, Priority Boarding and Priority Baggage Handling, Priority Airport Standby & Priority Airport Upgrades for you, your authorized users and up to 8 companions on the same flight (Only AirCanada)
Airport Lounge - Maple Leaf and AirCanada Cafes
Unlimited Access for you and one guestAirport Lounge - Priority Pass
Pass only. No Complimentary visits!
Interest Rates*
Purchase:
21.99%1
Cash Advance:
21.99%1
Interest Rates*
Purchase:
21.99%2
Cash Advance:
21.99%2
Annual Fee*
$155.8
Annual Fee*
$599
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Welcome Bonus*
Earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in purchases on your Card in the first Year
Welcome Bonus*
60,000 Aeroplan® points after spending over $7,500 on your Card within the first 3 months as a new American Express® Aeroplan® Reserve Cardmember, plus 25,000 Aeroplan® points when you spend $2,500 in month 13. Current or former Cardmembers with this Card are not eligible for these offers. Other terms apply.
Rewards Rate*
- 5x points per $1 spent on eligible eats and drinks in Canada, including groceries and food delivery (up to 12,500 points per month)
- 3x points per $1 spent on eligible streaming subscriptions in Canada
- 2x points per $1 spent on eligible gas, transit & ride share in Canada
- 1x point per $1 spent on all other purchases
Rewards Rate*
- 3x Aeroplan® points per $1 spent on eligible Air Canada® and Air Canada Vacations® purchases
- 2x Aeroplan® points per $1 spent on eligible dining & food delivery purchases
- 1.25x Aeroplan® points per $1 spent on all other purchases
Loyalty Program*
Loyalty Program*
Point Redemption Options*
Gift Cards
0.765¢ / point
Merchandise
0.63¢ / pointMost Optimal
Transfer to Airline Partners
2.1¢ / point
Fixed Point Travel Program
1.66¢ / point
Transfer to Hotel Partners
1.66¢ / point
Statement Credits (Cash)
1¢ / point
Amazon.ca
0.7¢ / point
Point Redemption Options*
Merchandise
0.75¢ / pointGift Cards
0.72¢ / pointMost Optimal
Aeroplan® Flights
2.1¢ / point
Car Rentals
0.9¢ / pointTravel
0.825¢ / point
Is this card worth it?
This card was voted the Best Credit Card in Canada by FinlyWealth. The rewards earned on this card for a person with average spending exceed those of other credit cards in Canada by a huge margin! In addition, this card has a good benefits coverage, a flexible points redemption program (1:1 transfer to Aeroplan® or Avios), making it the best candidate to become the main credit card for the majority of people.
Is this card worth it?
If you are a frequent Air Canada traveler, having an Aeroplan card for perks like free checked bags and priority service can be very beneficial. Many financial institutions offer Aeroplan cards, but I don't believe the American Express version is the best one. Opting for another option might be better. However, the Amex card does have a very large sign-up bonus, making it a great choice for those specifically seeking that.
Pros
- Points can be transferred to Air Canada Aeroplan® at a 1:1 ratio, making this card a solid Aeroplan® points earner as an alternative to Aeroplan® branded credit cards
- Generous welcome bonus of up to 15,000 points
- 4+ different ways of redeeming your points for great value
- 10 different types of insurance, including travel
- Often referred to as the Best Credit Card in Canada
Pros
- Generous rewards rate with up to 3 Aeroplan points per $1 spent on purchases, particularly beneficial for frequent flyers.
- Enjoy free checked bags when flying with Air Canada, reducing travel costs.
- Access to preferred pricing on Aeroplan flight awards, maximizing the value of your points.
- Unlimited access to Maple Leaf lounges when flying with Air Canada, providing a more comfortable travel experience.
- Extensive insurance coverage, including 11 types of insurance, offering peace of mind during your travels.
Cons
- Less acceptance of American Express at different merchants across Canada
- Not all types of travel insurance are covered, especially trip cancellation and interruption insurance
Cons
- As an American Express card, it may have limited acceptance compared to other credit cards, potentially limiting its use in some places.
- The most valuable rewards are generally tied to Air Canada flights, which may not appeal to travelers who fly with other airlines.
- The card comes with a high annual fee of $599, which may be a consideration for budget-conscious users.
- The unlimited lounge access is limited to Maple Leaf Lounges and Air Canada Cafe lounges which don't have a great worldwide coverage.
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American Express Cobalt® Card vs American Express® Aeroplan®* Reserve Card: When to go for one over the other
Annual Fees and Requirements
The American Express Cobalt Card has a significantly lower annual fee compared to the American Express Aeroplan Reserve Card. The Aeroplan Reserve Card also has higher income requirements, making it less accessible for average users. For those who meet the income criteria, the higher fee of the Reserve Card may be justified by its premium travel perks, but for many, the Cobalt Card offers better value at a lower cost.
Rewards Comparison
The Cobalt Card offers superior rewards for everyday spending, especially in dining and groceries, which makes it attractive for non-travel users. The Aeroplan Reserve Card, however, focuses on Air Canada purchases and dining, with rewards tailored for frequent flyers. While both cards offer substantial welcome bonuses, the Cobalt Card is more valuable for consistent, non-travel spenders, whereas the Reserve Card is ideal for those who frequently fly with Air Canada.
Reward Redemption Options
One of the biggest advantages of the Cobalt Card is the ability to transfer points to various airline partners, including Aeroplan. This makes it more versatile than the Aeroplan Reserve Card, which primarily restricts rewards to Aeroplan redemptions. The Cobalt’s flexibility, especially the ability to redeem for cashback or transfer to multiple partners, makes it a better option for those seeking diverse redemption opportunities.
Benefits and Insurance
Both cards offer strong insurance coverage, but the Aeroplan Reserve Card excels with premium travel benefits, such as unlimited access to Maple Leaf lounges, free checked bags, and priority airport services for Air Canada flights. In contrast, the Cobalt Card is more focused on everyday perks, without the high-end travel-specific benefits. The Reserve Card’s extensive travel perks cater specifically to frequent flyers, especially those who prefer flying with Air Canada.
Conclusion
For most users, the American Express Cobalt Card is a better choice due to its lower annual fee, excellent rewards on daily spending, and versatile redemption options, including the ability to transfer points to Aeroplan and other airline partners. However, frequent Air Canada travelers who can take advantage of the Aeroplan Reserve Card’s travel perks, like lounge access and priority services, may find the higher fee worth it.
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