Scotiabank Gold Amex vs Amex Cobalt (2026)

Figures are from our card data. Net annual value uses the published spend profile on How we rank (rewards minus annual fee, no welcome bonus). Scores use the same formula as every other page.

Scotiabank Gold American Express Card (Scene+ at 1¢/point — Fixed: 1,000 pts = $10 grocery/pharmacy):

• 6 Scene+ points per $1 on Sobeys, Safeway, FreshCo, Foodland & more — 6% at 1¢/point
• 5 Scene+ points per $1 on Dining, food delivery, food subscriptions, other eligible grocery — 5% at 1¢/point
• 5 Scene+ points per $1 on Entertainment — 5% at 1¢/point
• 3 Scene+ points per $1 on Gas, transit (rideshare, bus, taxi, subway) — 3% at 1¢/point
• 3 Scene+ points per $1 on Streaming — 3% at 1¢/point
• Up to 4 Scene+ points per $1 on Travel (1 + up to 3 extra via Scene+ Travel)
• 1 Scene+ point per $1 on All other purchases — 1% at 1¢/point

The 6X line is store-specific (Sobeys, Safeway, FreshCo, Foodland and more). Our calculator applies the 5X grocery/dining line to general grocery, not 6X at every grocer.

The Scotiabank issuer page also states: accelerated Scene+ rates apply on Canadian-dollar purchases in Canada; foreign-currency purchases earn 1 Scene+ point per $1 after conversion even though the FX mark-up is 0%. Accelerated earn applies to the first $50,000 in qualifying purchases each calendar year, then 1X. That $50,000 cap is not stored in our earn-rate data, so our score and calculator do not apply it.

American Express Cobalt Card (Membership Rewards at 1¢/point — Fixed: 1,000 pts = $10 statement credit):

• 5 MR points per $1 on Eligible restaurants, stand-alone grocery stores, and food delivery in Canada (Capped at $2,500/month combined spend, then 1 pt/$1) — 5% at 1¢/point
• 3 MR points per $1 on Eligible streaming subscriptions in Canada — 3% at 1¢/point
• 2 MR points per $1 on Gas, transit, rideshare in Canada — 2% at 1¢/point
• 1 MR point per $1 on All other purchases — 1% at 1¢/point

Cobalt’s 5X line is a combined monthly cap on restaurants, stand-alone grocery, and food delivery in Canada. On the published spend profile, grocery + dining is under that cap.

Cobalt lists 1:1 transfers to Aeroplan, Marriott Bonvoy, and more. This site still values Membership Rewards at the issuer statement-credit rate above. We do not invent a transfer value.

Estimated rewards below use the How we rank monthly mix: groceries $500, gas $200, dining $150, travel $50, bills $150, other $400. That is a card-only profile, not a household budget.

Scotiabank Gold American Express Card: $534 rewards − $120 fee = $414.
American Express Cobalt Card: $510 rewards − $191.88 fee = $318.

Welcome bonuses are scored separately. Listed welcome offer: Up to 50,000 bonus Scene+ points: 30,000 for $2,000 eligible purchases in first 3 months, plus 20,000 more for $7,500 in first year Value used in our score: $500. Conditions: Account must be opened July 2 - November 1, 2026. Not for current/past-2-year Scotiabank personal credit card holders.. Listed welcome offer: Up to 15,000 Membership Rewards points: earn 1,250 points per month when you spend $750 in each of your first 12 months Value used in our score: $150. Conditions: New cardmembers only.

Fees: Gold Amex $120; a listed perk is “Waived with eligible Scotiabank account”; additional card $29. Cobalt $191.88 ($15.99/month); additional card $0.

FX: Gold Amex lists None. Cobalt lists 2.5%. On $2,000 of foreign-currency spend, 2.5% is $50. A 0% FX card still converts the currency; you avoid the issuer mark-up, not the exchange rate.

Income: Gold Amex $12,000. Cobalt Not listed.

Insurance (as listed in our data):

Pick the Scotiabank Gold American Express Card if: You want Scene+, a listed 0% FX fee, and the lower listed annual fee ($120, score 4.7/5). The 6X grocery line is Sobeys-family stores. Excellent for Sobeys shoppers and travellers with no FX fees and up to 6X points on groceries.

Pick the American Express Cobalt Card if: You want Membership Rewards you can transfer 1:1 to partners Cobalt lists, and you spend on food in Canada under the $2,500/month 5X cap ($191.88 ($15.99/month), score 3.8/5). The foodie's dream card with 5X on eats and drinks in Canada, plus flexible point transfers to airline and hotel partners.

This is not Amex Gold Rewards. Cobalt vs the American Express Gold Rewards Card is a different comparison (both are Amex-issued Membership Rewards cards). See Amex Cobalt vs Gold Rewards.

Run your own grocery, dining, and travel mix on the spending calculator. Rankings here use the published score.