Amex Gold vs Amex Cobalt (Canada)

Gold has a bigger welcome bonus; Cobalt earns more every month afterward.

Updated June 25, 2026 · 4 min read · By Loyalty Concierge Editorial

AMEX · AMEX

Annual fee $250 · FX 2.5%

Best for: Balanced points earners, Aeroplan transfers

AMEX · AMEX

Annual fee $192 · FX 2.5%

Best for: Foodies, Groceries and dining

Feature	American Express Gold Rewards Card	American Express Cobalt Card
Annual fee	$250.00	$191.88
Welcome bonus	60,000 MR points with $3,000 spend in 3 months.	Up to 15,000 MR points in year one (1,250/month for 12 months).
Earn rates	2x MR on Grocery, gas, travel, dining; 1x MR on Everything else	5x MR on Groceries & dining; 3x MR on Streaming; 2x MR on Gas, transit, travel; 1x MR on Everything else
Insurance	Travel emergency medical, Trip cancellation, Car rental damage	Travel emergency medical, Trip cancellation & interruption, Mobile device
Lounge access	—	—
FX fees	2.5%	2.5%
Network / acceptance	AMEX	AMEX
Transfer partners	Aeroplan, Marriott Bonvoy, British Airways Avios	Aeroplan, Marriott Bonvoy, British Airways Avios
Best for	Simpler earn + upfront welcome bonus	Ongoing 5x on groceries and dining

Verdict

Cobalt for long-term earn, Gold for a large bonus now.