Amex Cobalt vs Amex Platinum: Here are the Differences

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The American Express Cobalt Card and the Platinum Card offer distinct benefits tailored to different lifestyles.

The Cobalt Card, with its lower annual fee, is designed for those who want rewards on everyday spending, especially on eats and drinks, along with a moderate level of travel benefits.

The Platinum Card is a charge card that is a premium offering with a higher annual fee, catering to frequent travelers who value extensive travel benefits, higher reward point earnings on travel and dining, and exclusive services like Global Lounge Access and Platinum Concierge.

The Platinum Card has no pre-set spending limit.

American Express Cobalt Card American Express Platinum Card
Annual Fee $155.88 ($12.99 per month) $799
Income Requirements N/A N/A
Interest Rate 20.99% on purchases, 21.99% on funds advances Charge Card, balance to be paid in full, however portion of your balance me qualify for lexibile payment option rate of 20.99%
Reward Points 5X on eats & drinks, 3X on streaming, 2X on travel & transit, 1X on other purchases 2X on dining & travel, 1X on other purchases
Insurance Coverage Mobile device insurance, travel insurance (emergency medical, flight delay, baggage delay, hotel burglary, lost/stolen baggage, travel accident) Comprehensive travel insurance including Out of Province/Country Emergency Medical Insurance, Trip Cancellation Insurance, Trip Interruption Insurance, Hotel Burglary, Lost or Stolen Baggage, Flight Delay, and Baggage Delay Insurances, Travel Accident Insurance
Special Partnerships Front Of The Line® access, The Hotel Collection benefits American Express Global Lounge Collection, Fine Hotels + Resorts, Hotel Status Benefit, Global Dining Collection, exclusive offers at Toronto Pearson International Airport
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Welcome Offer

  • Cobalt Card: Up to 15,000 Membership Rewards points in the first year (1,250 points for each monthly billing period with $750 spent). Get this bonus at Americanexpress.ca.

  • Platinum Card: 70,000 points after spending $10,000 in first three months, and an additional 30,000 points for a purchase of any amount between 14 and 17 months.

Annual Fee

  • Cobalt Card: $155.88 ($12.99 per month).

  • Platinum Card: $799.

Interest Rates

  • Cobalt Card: 20.99% on purchases, 21.99% on funds advances.

  • Platinum Card: N/A (Charge Card, not a credit card).

Points Earning Structure

  • Cobalt Card: Offers a diverse points earning structure tailored for everyday spending. You earn 5X points on eats & drinks, 3X on eligible streaming subscriptions, 2X on eligible travel & transit purchases, and 1X points on all other purchases. Additional points can be earned for bookings made through American Express Travel.

  • Platinum Card: Geared more towards travel and dining, offering 2X points on eligible dining and food delivery, and 2X points on eligible travel. For all other purchases, it provides 1X points. There’s also an additional point for eligible hotel or car rental bookings made through American Express Travel.

Rewards Redemption

  • Both cards offer a flexible rewards redemption program, allowing cardholders to use points towards a wide array of options. These include statement credits, travel bookings through American Express Travel, transferring points to frequent flyer and other loyalty programs, and redeeming for gift cards and merchandise.

Travel Benefits

  • Cobalt Card: Offers benefits like access to The Hotel Collection, which includes a $100 USD hotel credit and a room upgrade when available for stays of two consecutive nights or more. It also provides various travel-related insurance coverages.

  • Platinum Card: Comes with extensive travel perks including access to over 1,300 Global Lounge Collection lounges, Fine Hotels + Resorts benefits (like room upgrades, daily breakfast for two, late check-out), a $200 Annual Travel Credit, Hotel Status Benefits (like Hilton Honors Gold and Marriott Bonvoy™ Gold Elite), and special offers at Toronto Pearson International Airport.

Insurance Coverage

Cobalt Card:

  • Mobile Device Insurance: Up to $1,000 per insured person.
  • Emergency Medical Insurance: Up to $5,000,000 for first 15 days of a trip.
  • Flight Delay Insurance: Up to $500 in coverage.
  • Baggage Delay Insurance: Up to $500 in coverage.
  • Hotel Burglary Insurance: Up to $500 in coverage.
  • Lost or Stolen Baggage Insurance: Up to $500 per trip.
  • Travel Accident Insurance: Up to $250,000 coverage.
  • Car Rental Theft and Damage Insurance: Coverage for cars with an MSRP up to $85,000.

Platinum Card:

  • Out-of-Province/Country Emergency Medical Insurance: Up to $5,000,000 coverage.
  • Trip Cancellation Insurance: Up to $2,500 per insured person, per trip (maximum $5,000 for all insured).
  • Trip Interruption Insurance: Up to $2,500 per insured person, per trip (maximum $6,000 for all insured).
  • Flight Delay Insurance: Up to $1,000 in coverage.
  • Baggage Delay Insurance: Up to $1,000 in coverage.
  • Hotel Burglary Insurance: Up to $1,000 in coverage.
  • Lost or Stolen Baggage Insurance: Up to $1,000 per trip.
  • Travel Accident Insurance: Up to $500,000 coverage.
  • Car Rental Theft and Damage Insurance: Coverage for rentals with an MSRP up to $85,000.

Visit Americanexpress.ca to get your Welcome Offer today!

Frequently Asked Questions

  • Is Amex Platinum or Cobalt better?
  • Can I get lounge access with Amex Cobalt?