American Express Cobalt® Card vs Rogers Red Mastercard®: Which one is better?
American Express Cobalt® Card
5
Rogers Red Mastercard®
4.5
Finly Rebate
N/A
Finly Rebate
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
$720
First Year 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*
Lost or Stolen Baggage
$500
Baggage Delay
$500.svg)
Car Rental Damage & Theft
yes
Travel Accident
$250,000
Mobile Device Insurance
$1,000
Extended Warranty
Up to 1 year
Purchase Protection
90 days
Hotel Burglary Insurance
$500
Emergency Out of province Medical
15 daysFlight Delay
$500
Insurance Included
Balance Protection
Minimum payments
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
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 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
- 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¢ / 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
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, 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 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
- 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
- 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
vs Scotiabank Gold American Express® Card
vs Scotiabank Passport® Visa Infinite* Card
vs Rogers Red World Elite® Mastercard®
vs Simplii Financial™ Cash Back Visa* Card
vs Scotia Momentum® Visa Infinite* Card
vs SimplyCash™ Preferred Card from American Express
vs Tangerine Money-Back Credit Card
vs BMO CashBack® World Elite® Mastercard®
vs CIBC Costco Mastercard
vs Scotia Momentum® Visa* Card
vs SimplyCash® Card from American Express
vs American Express Platinum Card®
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