American Express Cobalt® Card vs PC World Elite Mastercard: Which one is better?
American Express Cobalt® Card
5
PC World Elite Mastercard
3.1
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
$266
PC Financial
First Year Bonus
$100
PC Financial
Annual Fee
$0
First Year Value
$366
$266 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
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Car Rental Damage & Theft
yes
Extended Warranty
Up to 1 year
Purchase Protection
90 days
Emergency Out of province Medical
15 days
Lost or Stolen Baggage
$500
Baggage Delay
$500
Travel Accident
$250,000
Mobile Device Insurance
$1,000
Hotel Burglary Insurance
$500Flight Delay
$500
Insurance Included
Car Rental Damage & Theft
Up to 31 daysExtended Warranty
Doubled up to a yearPurchase Protection
90 daysEmergency Out of province Medical
$1M, Up to 10 days
Extra Benefits*
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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.
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™
Extra Benefits
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Concierge Services
Identity Theft Assistance
Interest Rates*
Purchase:
21.99%1
Cash Advance:
21.99%1
Interest Rates
Purchase:
21.99%
Cash Advance:
22.97%
Annual Fee*
$155.8
Annual Fee
$0
Income Required*
Min Personal Income:
N/A
Min Household Income:
N/A
Income Required
Min Personal Income:
$80,000
Min Household Income:
$150,000
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
100,000 PC after approval of the application
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
Loyalty Program*
Loyalty Program
Point Redemption Options*
Most 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
Gift Cards
0.765¢ / point
Amazon.ca
0.7¢ / point
Merchandise
0.63¢ / point
Point Redemption Options
Groceries
0.1¢ / point.svg)
Gas (Esso)
0.1¢ / 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?
This is a great card to have in your arsenal if you frequently shop at Shoppers Drug Mart®, Loblaw's owned chains, and ESSO and Mobil gas stations, as you will earn significant rewards in these categories. The additional benefits, such as out-of-province medical insurance, car rental damage insurance, and concierge service, are impressive and typically only come with cards that have annual fees; however, you can access these benefits for free with this card. We do not recommend using this as your primary credit card but as a supplement to another primary card, especially because there are no fees. This is because the rewards on purchases outside the mentioned shops are very average, and many other cards offer much more substantial rewards for general use.
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
- Out-of-province medical insurance, concierge service, and car rental damage insurance—benefits that are usually included with cards that have fees—are included with this card.
- Decent rewards on purchases at Shoppers Drug Mart®, Loblaw's owned chains, and ESSO and Mobil gas stations.
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
- Many other high-spend categories don't earn as many rewards. Shopping at any other grocery chains, gas stations, or pharmacies will only give the base reward rate, and restaurant purchases and purchases in other categories don't earn much either.
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Other Comparisons
Other Comparisons
vs Rogers Red World Elite® Mastercard®
vs American Express Gold Rewards Card®
vs RBC ION+ Visa
vs Simplii Financial™ Cash Back Visa* Card
vs American Express® Green Card
vs MBNA Rewards World Elite® Mastercard®
vs Scotia Momentum® Visa Infinite* Card
vs SimplyCash™ Preferred Card from American Express
vs Amazon.ca Rewards Mastercard®
vs BMO CashBack® World Elite® Mastercard®
vs CIBC Costco Mastercard
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American Express Cobalt® Card vs PC World Elite Mastercard: When to go for one over the other
Annual Fees and Requirements
Rewards Comparison
Reward Redemption Options
Benefits and Insurance Comparison
Network Acceptance
Conclusion
Legal