Amex Cobalt vs Gold vs Platinum Canada: Which Card Should You Get?
The three major Amex Membership Rewards cards in Canada serve different purposes. Here's how they compare for earning, redemption, and selling points.
| Feature | Cobalt | Gold | Platinum |
|---|---|---|---|
| Annual Fee | $156 | $150 | $799 |
| Points Type | MR Select | MR | MR |
| Groceries/Dining | 5x | 2x groceries | 3x restaurants |
| Travel | 2x | 2x | 3x flights |
| Transfer Partners | 2 (Aeroplan, Marriott) | 7+ | 7+ |
| Cash Value When Sold | 1.1-1.55¢ | 1.1-1.55¢ | 1.1-1.55¢ |
| Airport Lounges | |||
| Travel Credit | $200/year | ||
| Best For | Points maximizers | Transfer flexibility | Frequent travelers |
Quick Verdict
For most Canadians: Cobalt wins. Its 5x earning on groceries and dining generates more points per dollar than any other card. Since points have the same cash value when sold, paying $156/year beats paying $799/year for the same sellable point value.
Card-by-Card Analysis
American Express Cobalt Card
$156/year ($13/month)
Earning Rates
- 5xGroceries, restaurants, food delivery
- 3xStreaming, transit
- 2xTravel (hotels, flights)
- 1xEverything else
Key Details
- • Earns MR Select (limited transfer partners)
- • Transfers to Aeroplan 1:1 (instant)
- • Transfers to Marriott 1:1.2
- • No airport lounge access
- • Monthly welcome bonus (first year)
Cobalt Points Value for Selling
If you spend $500/month on groceries and dining (conservative for most households):
Monthly earn (5x)
2,500 pts
Annual earn
30,000 pts
Cash value if sold
$330-465
At $156 annual fee, you're getting 2-3x return just from selling points from your everyday spending.
American Express Gold Rewards Card
$150/year
Earning Rates
- 2xGas, groceries, drugstores, travel
- 1xEverything else
Key Details
- • Earns full MR (all transfer partners)
- • 7+ airline/hotel partners
- • No airport lounge access
- • Annual travel credit: None
Our Take: Gold is hard to recommend. Cobalt earns 2.5x more points on groceries (5x vs 2x) for nearly the same fee. The only advantage is access to more transfer partners, but most Canadians use Aeroplan anyway—which Cobalt also has.
The Platinum Card
$799/year
Earning Rates
- 3xDining, travel booked via Amex
- 2xTravel booked elsewhere
- 1xEverything else
Premium Benefits
- • Priority Pass airport lounges
- • $200 annual travel credit
- • Marriott Gold Elite status
- • Hilton Gold status
- • Global Entry/NEXUS credit ($100)
Is Platinum Worth It for Points?
For earning points, Platinum is inefficient. With only 1-3x multipliers, you'd need to spend significantly more to earn the same points as Cobalt.
To earn 30,000 points/year:
- • Cobalt: $6,000 on groceries/dining (5x)
- • Platinum: $10,000 on restaurants (3x) or $30,000 on general (1x)
When Platinum makes sense: If you use the $200 travel credit, visit airport lounges 5+ times/year, and value hotel elite status. The benefits can offset the fee—but not for points earning alone.
Points Value: Are All Amex Points Equal?
Here's the key insight: When selling for cash, all Amex MR points have the same value regardless of which card earned them.
Cash Value When Selling (All Cards)
Cobalt MR Select
1.1-1.55¢
(via Aeroplan)
Gold MR
1.1-1.55¢
(via Aeroplan)
Platinum MR
1.1-1.55¢
(via Aeroplan)
All three transfer to Aeroplan at 1:1, so the selling value is identical.
The implication: If your goal is to accumulate points and sell them for cash, Cobalt is objectively the best choice. You earn 2.5x more points on groceries than Gold/Platinum, and those points are worth the same amount when sold.
Which Card Should You Choose?
Choose Cobalt If...
- You want to maximize points earning (5x on food beats everything)
- You plan to sell points for cash (same value, lower fee)
- You primarily fly Air Canada/Star Alliance (Aeroplan is enough)
- You don't need airport lounge access
- You want the best ROI on annual fee
Choose Platinum If...
- You travel frequently and will use Priority Pass lounges
- You'll use the $200 travel credit annually
- You want Marriott/Hilton Gold elite status
- You need Global Entry/NEXUS reimbursement
- You want access to all transfer partners (BA, Emirates, etc.)
Choose Gold If...
- You specifically need access to all MR transfer partners
- You don't want to pay Platinum fees but need partner flexibility
- Honestly, most people should choose Cobalt or Platinum instead
The Optimal Strategy: Hold Both Cards
Many savvy Canadians hold both Cobalt and Platinum, using each for its strengths:
Dual-Card Strategy
Use Cobalt for:
- • All groceries (5x points)
- • All restaurants (5x points)
- • Food delivery apps (5x points)
- • Streaming services (3x points)
Use Platinum for:
- • Airport lounge access
- • Flights booked via Amex Travel (3x)
- • $200 travel credit
- • Hotel elite status benefits
Total cost: $955/year ($156 + $799) for maximum earning + premium benefits.
Your MR points pool together across both cards, and you can transfer or sell from either account. This gives you the best of both worlds: high earning rates AND premium travel benefits.
Frequently Asked Questions
Which Amex card has the best earning rate for everyday spending?
Amex Cobalt offers the best earning rate for most Canadians: 5x on groceries and dining (most people's biggest spending categories). Platinum and Gold only offer 2-3x on restaurants and 1-2x on other categories.
Are Cobalt points worth less than Platinum points?
When selling, Cobalt and Platinum points have the same cash value ($0.011-0.0155/pt) because both transfer to Aeroplan at 1:1. The main difference is that Cobalt's MR Select can only transfer to Aeroplan and Marriott, while Platinum can access all 7+ partners.
Is the Amex Platinum worth the $799 annual fee?
Only if you heavily use the benefits: Priority Pass lounges ($400+ value), $200 travel credit, Marriott/Hilton elite status, and Global Entry/NEXUS credit. If you don't travel frequently or use lounges, Cobalt offers better value for points earning.
Can I hold multiple Amex MR cards?
Yes! Points pool across all your MR-earning cards. Many Canadians hold Cobalt for earning (5x on food) and Platinum for benefits (lounges, status). You can then sell or transfer from either account.
Which card should I choose if I want to sell my points?
Cobalt is the best choice for maximizing sellable points. At 5x on groceries/dining with a $156 annual fee, you accumulate more points per dollar than any other card. When sold through Aeroplan, the points have the same cash value as Platinum points.
Is Amex Gold worth it in Canada?
Gold sits awkwardly between Cobalt and Platinum. At $150/year with only 2x on gas and groceries (vs Cobalt's 5x), it's hard to justify unless you specifically need the MR-earning capability without the Platinum fee. Most should choose Cobalt or Platinum.