Which has the lower annual fee, American Express Cobalt Card or Scotiabank Gold American Express?

The Scotiabank Gold American Express has a $120 annual fee, while the American Express Cobalt Card charges $192/year.

Which card is better for groceries, American Express Cobalt Card or Scotiabank Gold American Express?

The American Express Cobalt Card earns 5x on groceries, while the Scotiabank Gold American Express earns 4x. 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 Scotiabank Gold American Express — 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 $1,310/yr — strongest in groceries

American Express Cobalt Card earns $767 more on groceries
American Express Cobalt Card earns $304 more on dining & restaurants
$72 higher annual fee, offset by rewards

Groceries: +$767Dining & Restaurants: +$304Gas: +$130

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

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

Scotiabank Gold American Express: $30/yr in foreign transaction fees

Scotiabank Gold American Express (Amex) — not accepted at Costco, Loblaws, No Frills, Walmart

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

$1,222

/first year

2.9% effective$102/mo

vs 1% no-fee card: +$803

Annual rewards earned+$802

Welcome bonus+$450

First-year fee waiver+$120

FX costs−$30

Annual fee−$120

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

+$1,310 more than Scotiabank Gold American Express

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Earn Rates by Category

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The Bottom Line

American Express Cobalt Card wins by $1,310/yr — strongest in groceries

American Express Cobalt Card earns $767 more on groceries
American Express Cobalt Card earns $304 more on dining & restaurants
$72 higher annual fee, offset by rewards

Groceries: +$767Dining & Restaurants: +$304Gas: +$130

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 Mar 2026)

Merchant MCC verification (239 merchants)

Insurance certificates (PDF review)

Reward program documentation

User-reported acceptance data

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