American Express Canada and National Bank each offer a credit card that earns 5 points per dollar spent at grocery stores and restaurants:
These are two basic cards that we often recommend when someone wants to get points quickly and easily.
So, we will analyze what are the main differences between these credit cards on:
The welcome bonus offered by each of these credit cards varies according to promotions. However, there are differences to be aware of between the two credit cards.
When you subscribe to the American Express Cobalt® Card, you can earn up to 15,000 points:
Right now, there’s a great welcome offer for the National Bank World Elite Mastercard®.
With this promotion, you can earn up to 40,000 welcome bonus points (worth up to $400) until August 15, 2024!
Here is the requirements of this National Bank welcome bonus:
With its extra points, the National Bank World Elite Mastercard® is the best!
The American Express Cobalt® Card requires no minimum income.
The National Bank World Elite Mastercard requires :
The American Express Cobalt® Card does not require a minimum income, unlike the National Bank World Elite Mastercard®.
The American Express Cobalt® Card has a monthly fee of $12.99, charged on each monthly statement. At the end of 12 months, the total is $155.88.
The National Bank World Elite Mastercard® has an annual fee of $150.
The annual fee for the National Bank World Elite Mastercard® is lower than for the American Express Cobalt® Card.
What’s more, the National Bank World Elite Mastercard® has a special advantage: it gives you a $150 travel credit every year!
As a result, cardholders have a total of $150 to apply to certain travel expenses. Used to its full potential, the card costs nothing each year.
The American Express Cobalt® Card and the National Bank World Elite Mastercard® each offer similar levels of point accumulation.
With the American Express Cobalt® Card, you can earn up to 5 points per dollar:
For the 5X points category, you can earn 5 points per dollar up to $2,500 in monthly purchases in this category, charged to the card. Starting at $2,501, points are accumulated at a rate of 1 point per dollar for the 5 X points category.
With the National Bank World Elite Mastercard®, you can also earn up to 5 points per dollar:
For the Grocery and Restaurant category, you can earn 5 points for every dollar spent within the first $2,500 of monthly purchases (all categories combined) charged to the card. Starting at $2,501, points are accumulated at a rate of 2 points per dollar for the 5 X points category.
Depending on your needs and the majority of your expenses, you may choose one or the other. Since groceries are a major budget item, getting 5 points per dollar on one of these 2 credit cards for this expense is excellent.
Don’t forget the possibility of buying gift cards at the grocery store to maximize your points: you earn 5 points per dollar, even on Walmart, Amazon, Sports Experts, Canadian Tire gift cards, and so on.
Both cards are part of different loyalty programs:
Thus, the ways of using the points are different.
The American Express Cobalt® Card is highly versatile and flexible. You can redeem Membership Rewards points for a statement credit on:
The redeeming rate is 1,000 points = $10.
So take your Membership Rewards points to simply pay off your American Express Cobalt® Card balance.
A minimum of 1,000 points (minimum $10) is required, thereafter in increments of one cent per point.
In addition, redeem your Membership Rewards points to:
It offers plenty of opportunities, depending on what you need and when you want it.
With the National Bank World Elite Mastercard®, it’s different. NBC points cannot be transferred to other rewards programs.
To redeem your National Bank World Elite Mastercard® rewards points, you’ll need to log in to your NBC Plan Rewards à la carte online account.
You can then use these NBC points in many ways:
Thanks to the great flexibility of the American Express Cobalt® Card and Membership Rewards points, they can be used in many ways. Points can be used for travel purchased on the card:
With the American Express Cobalt® Card you can also enjoy :
Each calendar year, National Bank World Elite Mastercard® cardholders have a $150 travel credit to reimburse certain travel expenses:
It also offers :
With its wide range of travel benefits, the National Bank World Elite Mastercard® is unbeatable in this respect.
Whereas for the American Express Cobalt® Card, its benefits are more about everyday purchases.
The National Bank World Elite Mastercard® offers much more generous additional coverage than the American Express Cobalt® Card.
What’s more, it requires only a portion of travel purchases to be charged to the card. The American Express Cobalt® Card, on the other hand, requires that the entire trip be charged to the card.
So? Which card is the winner?
In our opinion, these two credit cards complement each other. For everyday purchases, it’s the American Express Cobalt® Card. For travel purchases and insurance, it’s the National Bank World Elite Mastercard®.
The American Express Cobalt® Card is the perfect way to do whatever you want with your points without breaking the bank! In addition, it stands out with:
While the National Bank World Elite Mastercard® stands out thanks to..:
Savings are here:
