Card comparison
Amex Cobalt vs Scotiabank Gold Amex
Scotiabank Gold if you buy gas or travel, Cobalt if you want points that move to airlines.
Both earn 5 points per $1 on groceries and restaurants. Scotiabank Gold adds 3 points on gas, charges no foreign currency fee and costs about $72 less a year. Cobalt earns Amex points, which move to Aeroplan, Marriott and other programs.
Facts checked Nov 9, 2026 Sources By Mr. Loonie editors
What’s in each?
- Light:
- Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
- Typical:
- Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
- Big:
- Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400
Points counted at 1.7 cents each, our value for American Express Membership Rewards. Why we value Amex Cobalt this way
Points counted at 1 cent each, our value for Scene+. Why we value Scotiabank Gold Amex this way
Lower is better here.
Typical spending, $2,500 a month. Bigger is better.
Counted at your spending, not the advertised maximum.
See the 2 parts
- 40,000 Scene+ points after you spend $2,000 in the first 3 months ($400)
- 25,000 Scene+ points after you spend $7,500 in the first 12 months ($250)
Who should get each
Our editors’ take, based on the numbers above.
Get Amex Cobalt if
- Good: You want points you can move to Aeroplan or Marriott
- Good: You’d rather pay a small monthly fee than one yearly fee
- Good: You rarely buy gas or shop in other currencies
Get Scotiabank Gold Amex if
- Good: You spend on gas as well as food
- Good: You travel or shop online in other currencies
- Good: You want the lower yearly cost
More comparisons with these cards
Pairs our editors picked. Numbers are year one at typical spending.
Mr. Loonie’s tip Look at every year after before year one. A big welcome offer pays once; the earn rates pay every month you keep the card.
Questions
Which earns more on groceries?
Both earn 5 points per $1 at grocery stores. Cobalt stops paying 5 points after $30,000 a year on groceries and restaurants together.
Which is better outside Canada?
Scotiabank Gold. It charges no foreign currency fee. Cobalt charges 2.5% on every purchase in another currency.
Are both cards accepted in the same stores?
Yes. Both run on the American Express network. Some stores in Canada don’t take American Express, so carry a Visa or Mastercard as well.
How do you work out year one?
We add what each card earns at your spending, plus the part of the welcome offer you’d get, then take off the first year’s annual fee. Every year after leaves out the offer and uses the regular fee.
Can I compare more than two cards?
Yes, up to four. Tap Add a card above the table, or + Compare on any card page.
Do banks pay to appear here?
No. You pick the cards and the math decides the numbers. We may earn a fee when you apply through some links. That never changes a number.
Year one adds what each card earns at the spending you picked, plus the part of the welcome offer that spending reaches, then takes off the first year’s fee. Every year after leaves out the offer and uses the regular fee. Points are counted at the value shown under each card.
Sources, checked by us:
- Amex Cobalt: americanexpress.com, checked Nov 8, 2026
- Scotiabank Gold Amex: scotiabank.com, checked Nov 8, 2026
Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. Values are estimates for the spending you picked, rounded to the nearest dollar.
Spot something wrong? We’ll check it with the bank. Suggest a correction