Which has the lower annual fee, American Express Cobalt Card or BMO Ascend World Elite Mastercard?

The BMO Ascend World Elite Mastercard has a $150 annual fee, while the American Express Cobalt Card charges $192/year.

Which card is better for groceries, American Express Cobalt Card or BMO Ascend World Elite Mastercard?

The American Express Cobalt Card earns 5x on groceries, while the BMO Ascend World Elite Mastercard earns 0.7x. The better choice depends on your grocery spending and the specific merchants you shop at.

Is the American Express Cobalt Card accepted everywhere in Canada?

The American Express Cobalt Card runs on the American Express network, which is not accepted at some Canadian retailers like Costco and Loblaws. Visa and Mastercard have broader acceptance in Canada.

American Express Cobalt Card vs BMO Ascend World Elite Mastercard — Which Is Better? | Churnr

Header Quick Take Value Earn Rates Merchants Wallet Bonus FX Benefits Eligibility Perks Downgrade Verdict

American Express Cobalt Card wins by $2,423/yr — strongest in groceries

American Express Cobalt Card earns $1,215 more on groceries
American Express Cobalt Card earns $284 more on dining & restaurants
$300 welcome bonus advantage

Groceries: +$1,215Dining & Restaurants: +$284Gas: +$198

American Express Cobalt Card: $30/yr in foreign transaction fees

American Express Cobalt Card (Amex) — not accepted at Costco, Loblaws, No Frills, Walmart

BMO Ascend World Elite Mastercard: $30/yr in foreign transaction fees

Showing Year 1 analysis

Dollar Value

Winner

$2,532

/first year

6.0% effective$211/mo

vs 1% no-fee card: +$2,113

Annual rewards earned+$2,454

Welcome bonus+$300

FX costs−$30

Annual fee−$192

$109

/first year

0.3% effective$9/mo

vs 1% no-fee card: −$310

Annual rewards earned+$289

FX costs−$30

Annual fee−$150

Best for your spendingAmerican Express Cobalt Card—$2,532Year 1 value

+$2,423 more than BMO Ascend World Elite Mastercard

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Earn Rates by Category

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The Bottom Line

American Express Cobalt Card wins by $2,423/yr — strongest in groceries

American Express Cobalt Card earns $1,215 more on groceries
American Express Cobalt Card earns $284 more on dining & restaurants
$300 welcome bonus advantage

Groceries: +$1,215Dining & Restaurants: +$284Gas: +$198

Showing Year 1 analysis

American Express Cobalt Card wins in both Year 1 and Year 2+ — consistent long-term value.

Data Sources

Issuer terms & conditions (verified Feb 2026)

Merchant MCC verification (239 merchants)

Insurance certificates (PDF review)

Reward program documentation

User-reported acceptance data

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