American Express Cobalt® Card vs Scotia Momentum® Visa Infinite* Card: Which one is better?

Annual Fees and Requirements

The American Express Cobalt Card and the Scotia Momentum Visa Infinite* Card have annual fees that are comparable, though slightly different. The Cobalt card has a marginally higher annual fee but does not have explicit income requirements, making it accessible to a broader range of applicants. On the other hand, the Scotia Momentum Visa Infinite* Card has a slightly lower annual fee, but it does require a minimum personal or household income, which may limit eligibility for some potential users.

Rewards Comparison

The rewards structure of the American Express Cobalt Card is highly attractive, particularly for those who spend heavily on dining, groceries, and streaming services, offering significant points multipliers in these categories. The Scotia Momentum Visa Infinite* Card, while also competitive, primarily excels in offering high cashback rates on groceries and recurring payments. The American Express Cobalt Card generally provides greater overall rewards value for most users, especially for those who can maximize spending in its top categories.

Reward Redemption Options

American Express Membership Rewards points can be redeemed in various ways, including transferring to airline or hotel partners, using them for travel through Amex, or for statement credits. This flexibility often provides higher value compared to the cashback model of the Scotia Momentum card, which, while straightforward and usable on any purchase, lacks the potential for higher-value redemptions found in the Cobalt card's point system.

Benefits and Insurance

Both cards offer comprehensive insurance packages, including emergency medical, travel accident, and car rental insurance. However, the Scotia Momentum® Visa Infinite* Card stands out by also including trip cancellation and interruption insurance, which the American Express Cobalt Card lacks. Additionally, American Express offers exclusive perks through its Amex Experiences, which might appeal to those who frequently attend events or seek unique experiences.

Acceptance and Network

The American Express Cobalt® Card is part of the American Express network, which, while offering excellent perks, is less widely accepted compared to Visa. The Scotia Momentum® Visa Infinite* Card benefits from the broader acceptance of the Visa network, making it a more practical choice for those who prioritize widespread usability.

Conclusion

For most users, the American Express Cobalt® Card is likely the better option due to its superior rewards structure, especially for those who spend significantly on dining and entertainment. However, those who prioritize cashback on groceries and recurring payments or need broader card acceptance should consider the Scotia Momentum® Visa Infinite* Card. Additionally, if trip cancellation and interruption insurance are important, the Scotia card provides an extra layer of coverage that the Amex card does not.