American Express Cobalt® Card vs Rogers Red Mastercard®: Which one is better?
American Express Cobalt® Card
5
RECOMMENDED CREDIT SCORE*
Rogers Red Mastercard®
4.5
RECOMMENDED CREDIT SCORE
Finly Rebate
N/A
Finly Rebate
Rewards Breakdown
Annual Rewards
$1,041.82
American Express Membership Rewards
Welcome Bonus
$315
American Express Membership Rewards
Annual Fee
$155.8
First Year Value
$1,201.02
$886.02 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$720
Welcome Bonus
$90
Annual Fee
$0
First Year Value
$810
$720 in years after
Based on $2,000/mo average spending and assuming you have an eligible Rogers, Fido or Shaw service as the primary or level 1 authorized user. Calculate your rewards.
Insurance Included*
Emergency Out of province Medical
15 days
Flight Delay
$500
Baggage Delay
$500
Hotel Burglary Insurance
$500
Lost or Stolen Baggage
$500
Travel Accident
$250,000.svg)
Car Rental Damage & Theft
Up to 48 days and $85k car MSRP
Mobile Device Insurance
$1000
Purchase Protection
90 days
Extended Warranty
1 year
Insurance Included
Balance Protection
Minimum payments
Extra Benefits*
American Express Experiences
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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.
Extra Benefits
No Cost roaming
5 days
Interest Rates*
Purchase:
21.99%1
Cash Advance:
21.99%1
Interest Rates
Purchase:
19.99%
Cash Advance:
22.99%
Annual Fee*
$155.8
Annual Fee
$0
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 cash back when you make a mobile wallet purchase within the first 90 days and 6 automatic payments within the first 8 months for your Rogers, Fido or Shaw postpaid service ($90 if redeemed for Rogers, Fido or Shaw purchases).
Rewards Rate*
- 5x points per $1 spent in Restaurants, Fast Foods, Coffee Shops, Food delivery and Groceries up to 12,500 points monthly
- 3x points per $1 spent on eligible streaming subscriptions in Canada
- 2x points per $1 spent in standalone gasoline stations, Amex Travel online, travel services or local commuter transportation in Canada including ride share services
- 1x point per $1 spent on all other purchases
Rewards Rate
- 2% cashback on all purchases if you have 1 qualifying Rogers, Fido or Shaw service as the account owner
- 2% cashback on all U.S dollar purchases and 1% on all other eligible purchases if you do not have a qualifying Rogers, Fido or Shaw service
- 1.5x redemption bonus on your earned cash back value when used on Rogers, Fido and Shaw purchases – that’s a 3% cash back value
Loyalty Program*
Loyalty Program
N/A
Point Redemption Options*
Most Optimal
Transfer to Airline Partners
2.1¢ / pointFixed Point Travel Program
1.66¢ / point
Transfer to Hotel Partners
1.66¢ / point
Statement Credits
1¢ / point
Gift Cards
0.765¢ / point
Amazon.ca
0.7¢ / point
Merchandise
0.63¢ / point
Point Redemption Options
Not Applicable
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, the card has good benefit coverage, making it the best candidate to become the main credit card for the majority of people.
Is this card worth it?
This card is one of our top-ranked options in terms of rewards, especially if you are a Rogers, Fido, or Shaw customer. With those services, you can effectively get a 3% cashback rate, which is a higher rate than almost any other card offers, even those with annual fees! If you have a high income of $80K or a household income of $150K, you can apply for the World Elite version of this card, which comes with additional insurance and benefits like a lounge pass.
Pros
- 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
- Voted as the Best Cash Back Card in Canada for Rogers, Fido and Shaw Customers by FinlyWealth.
- There is no annual fee, a notable perk for a card with such high reward multipliers. Most cards with slightly lower reward rates typically have annual fees.
- Offers the flexibility to redeem cash towards Rogers, Shaw, or Fido services, potentially increasing the value of your earned rewards.
- The roam-like benefit is a benefit unique only to this card.
- It is accepted at nearly all locations as it's a Mastercard.
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
- No real insurance coverage (only balance protection), not even purchase protection or extended warranty which are pretty standard benefits for almost all credit cards.
- Low rewards multiplier if you don't have an eligible Rogers, Shaw, or Fido service.
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Other Comparisons
Other Comparisons
vs TD Aeroplan® Visa Infinite* Card
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vs Simplii Financial™ Cash Back Visa* Card
vs Scotia Momentum® Visa Infinite* Card
vs Tangerine Money-Back Credit Card
vs BMO CashBack® World Elite® Mastercard®
vs CIBC Costco Mastercard
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American Express Cobalt® Card vs Rogers Red Mastercard®: When to go for one over the other
Annual Fees and Requirements
Rewards
Reward Redemption Options
Benefits and Insurance
Conclusion
Legal