American Express Cobalt® Card vs Walmart Rewards™ Mastercard®: Which one is better?
American Express Cobalt® Card
5
Walmart Rewards™ Mastercard®
1.7
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
$242.9
First Year Bonus
$45
Annual Fee
$0
First Year Value
$287.9
$242.9 in years after
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included*
Purchase Protection
90 days
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
Hotel Burglary Insurance
$500
Emergency Out of province Medical
15 daysFlight Delay
$500
Insurance Included
Purchase Protection
90 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
N/A
Interest Rates*
Purchase:
21.99%1
Cash Advance:
21.99%1
Interest Rates
Purchase:
20.89% - 26.99%
Cash Advance:
22.97% - 27.99%
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
$45 on Approval
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
- 1.25% cashback on Walmart store and Walmart.ca purchases
- 1% cashback on all credit card purchases.
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?
The Walmart Rewards Mastercard is ideal for frequent Walmart shoppers who want to spread out payments on larger purchases without paying much interest. It offers 1.25 Walmart Reward Dollars for every dollar spent at Walmart stores and the ability to pay in installments. Additionally, you can earn up to $45 in Walmart Reward Dollars when you sign up. However, the rewards can only be redeemed at Walmart, and the card lacks additional benefits or insurance coverage beyond purchase assurance and extended warranty.
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
- Installment Payments: Allows you to pay for Walmart purchases in installments over six months.
- Walmart Rewards: Earn 1.25 Walmart Reward Dollars for every dollar spent at Walmart stores.
- Sign-Up Bonus: Get up to $45 in Walmart Reward Dollars when you sign up.
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
- Limited Redemption: Rewards can only be redeemed at Walmart and Walmart.ca.
- Lower Rewards: Offers lower rewards compared to other store and cashback credit cards.
- Minimal Benefits: No additional benefits or insurance coverage aside from purchase assurance and extended warranty.
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American Express Cobalt® Card vs Walmart Rewards™ Mastercard®: When to go for one over the other
Annual Fees and Requirements
The American Express Cobalt® Card charges a higher annual fee, which reflects its extensive rewards and benefits package. In contrast, the Walmart Rewards™ Mastercard® has no annual fee, making it more accessible to budget-conscious consumers. Neither card has specific income requirements, allowing a wide range of applicants to be eligible.
Rewards
The American Express Cobalt® Card offers a higher rewards rate, particularly in categories like dining and groceries, which can lead to significant value over time. It also provides a substantial welcome bonus, making it appealing for those who spend regularly in its high-reward categories. The Walmart Rewards™ Mastercard® offers straightforward cashback rewards, particularly on Walmart purchases, but the overall value is significantly lower compared to the Cobalt® Card.
Reward Redemption Options
The American Express Cobalt Card offers multiple redemption options, including transfers to airline and hotel partners, statement credits, and gift cards. These options provide flexibility and value. The Walmart Rewards Mastercard, however, limits rewards redemption to Walmart, reducing flexibility compared to the cashback versatility of the Cobalt Card.
Benefits and Insurance
The American Express Cobalt® Card comes with a robust package of benefits and insurance, including travel insurance, purchase protection, and extended warranty. It also offers unique perks like access to American Express Experiences. The Walmart Rewards™ Mastercard® is more basic, with limited benefits primarily focused on purchase protection and an extended warranty, and lacks the extensive insurance coverage provided by the Cobalt® Card.
Network Differences
The American Express Cobalt® Card operates on the American Express network, which is less widely accepted compared to Mastercard which the Walmart Mastercard is on.
Conclusion
For most users, especially those who value high rewards in dining, groceries, and travel, the American Express Cobalt® Card is the superior choice due to its extensive benefits and higher rewards potential. However, the Walmart Rewards™ Mastercard® may be better suited for frequent Walmart shoppers who prefer a no-fee card with straightforward rewards and broader acceptance.
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