American Express Cobalt® Card vs Walmart Rewards™ World Mastercard®: Which one is better?
American Express Cobalt® Card
5
Walmart Rewards™ World Mastercard®
2
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
$250.13
First Year Bonus
$45
Annual Fee
$0
First Year Value
$295.13
$250.13 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
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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 days
Flight 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:
$100,000
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
$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
- 3% cashback on Walmart.ca purchases
- 1.25% cashback on Walmart store and gas 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 World Elite Mastercard is ideal for frequent Walmart shoppers who want to spread out payments on larger purchases without paying much interest. It's especially beneficial for those who frequently shop at Walmart's online store. However, it offers a rather average reward rate for other types of purchases, making many other cards a better choice for non-Walmart spending categories.
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.
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.
vs TD Aeroplan® Visa Infinite* Card
vs Rogers Red Mastercard®
vs Scotiabank Gold American Express® Card
vs RBC ION Visa
vs Scotiabank Passport® Visa Infinite* Card
vs Rogers Red World Elite® Mastercard®
vs Walmart Rewards™ Mastercard®
vs American Express Gold Rewards Card®
vs Neo Mastercard®
vs RBC ION+ Visa
vs Simplii Financial™ Cash Back Visa* Card
vs American Express® Green Card
vs PC World Elite Mastercard
vs MBNA Rewards World Elite® Mastercard®
vs Scotia Momentum® Visa Infinite* Card
vs TD® Aeroplan® Visa Infinite Privilege*
vs TD First Class Travel® Visa Infinite* Card
vs SimplyCash™ Preferred Card from American Express
vs Amazon.ca Rewards Mastercard®
vs Tangerine Money-Back Credit Card
vs BMO CashBack® World Elite® Mastercard®
vs CIBC Aeroplan® Visa Infinite* Card
vs CIBC Costco Mastercard
vs Scotia Momentum® Visa* Card
vs American Express® Aeroplan®* Card
vs American Express® Aeroplan®* Reserve Card
vs SimplyCash® Card from American Express
vs American Express Platinum Card®
vs Neo World Elite® Mastercard®
American Express Cobalt® Card vs Walmart Rewards™ World Mastercard®: When to go for one over the other
Annual Fees and Requirements
The American Express Cobalt® Card comes with a moderate annual fee, while the Walmart Rewards™ World Mastercard® has no annual fee. This makes the Walmart Mastercard more appealing for those looking to avoid yearly charges. However, the Cobalt® Card’s fee may be justified by its more comprehensive rewards and benefits. Neither card specifies a minimum personal income requirement, but the Walmart Mastercard requires a household income that not everyone might be able to meet.
Rewards Comparison
The American Express Cobalt® Card offers significantly higher rewards, particularly in categories like dining, groceries, and travel, which makes it ideal for frequent spenders in these areas. The card also offers a substantial welcome bonus. In contrast, the Walmart Rewards™ World Mastercard® focuses on cashback for Walmart purchases, with lower rewards for other spending categories. This card is more suitable for those who frequently shop at Walmart.
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 World Mastercard, however, limits rewards redemption to Walmart, reducing flexibility compared to the cashback versatility of the Cobalt Card.
Benefits and Insurance Comparison
The Cobalt® Card provides extensive insurance coverage, including emergency medical, travel accident, and mobile device insurance, along with unique benefits like American Express Experiences. The Walmart Mastercard offers basic purchase protection and extended warranty coverage but lacks the more robust benefits offered by the Cobalt® Card. The Cobalt® Card’s extensive insurance options and extra perks make it more valuable for frequent travelers and those seeking comprehensive coverage.
Conclusion
The American Express Cobalt® Card is generally the better option for most users due to its superior rewards structure and extensive benefits, making it ideal for those who spend heavily on dining, travel, and groceries. However, the Walmart Rewards™ World Mastercard® is better suited for individuals who primarily shop at Walmart and prefer a no-fee card.
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