Credit cards that give you great travel rewards are incredibly popular and – as a comparison between the American Express Cobalt Card and TD Aeroplan Visa Infinite Card shows – incredibly varied. Although the TD Aeroplan VI provides superior benefits and insurance, we prefer the Amex Cobalt’s dazzling and flexible rewards.
Key Takeaways
- The American Express Cobalt Card is the fastest earner on the Canadian market, but it offers few benefits or insurance.
- The TD Aeroplan Visa Infinite adds premium travel and lifestyle perks to the ability to collect Aeroplan points.
- Although it doesn’t provide any special travel treatment, the American Express Cobalt Card will take you further than any Aeroplan credit card on the market.
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Amex Cobalt vs. TD Aeroplan Visa Infinite overview
The American Express Cobalt Card and TD Aeroplan Visa Infinite Card offer two takes on a travel credit card. A quick look should tell you which credit card is the faster earner and which one provides the best benefits and insurance:
| American Express Cobalt Card | TD Aeroplan Visa Infinite Card | |
|---|---|---|
| Annual fee | $191.88 | $139 |
| Welcome bonus |  $100 GeniusCash + Up to 15,000 bonus points (terms) | Up to 45,000 bonus points (terms) |
| Rewards | Up to 5 Amex Membership Rewards points per $1 spent | Up to 1.5 Aeroplan points per $1 spent |
| Highest earning categories | Groceries and restaurants | Gas, groceries, and Air Canada |
| Insurance types included | 10 | 12 |
| Special features | American Express benefits | Air Canada benefits, Visa Infinite benefits, and a $100 NEXUS credit every 4 years |
| Income requirements | None | $60K personal or $100K household income |
| Best for | General spenders and occasional travellers | Frequent Air Canada flyers |
| Get started | Apply now | Apply now |
While their differences are obvious at first glance, if you keep looking you’ll find a few subtle similarities between the Amex Cobalt and TD Aeroplan VI’s rewards and insurance packages.
Aeroplan rewards
The Aeroplan Rewards program enables frequent Air Canada flyers to collect points for future travel, vacation packages, and merchandise. It’s one of the best rewards programs in Canada because redeeming points for air travel can yield up to 4 cents per point (CPP).
Value of reward in CAD / cost in points x 100 = value in cents per point (CPP)
The TD Aeroplan VI collects Aeroplan points and Cobalt cardholders can transfer their points to Aeroplan for free on a 1:1 basis. To make comparison easier, we’ll use the average value of an Aeroplan point (2 CPP) to evaluate the returns of both cards later.
Credit card insurance
Credit card shopping and travel insurance eliminates the need to buy separate policies and covers multiple purchases and trips per year with a single annual fee. The TD Aeroplan VI and Amex Aeroplan provide great value, offering 10 types of credit card insurance with slightly different coverage limits:
| Insurance | Amex Cobalt coverage limit | TD Aeroplan VI coverage limit | Estimated value |
|---|---|---|---|
| Extended warranty | 1 year | 1 year | $72 |
| Purchase protection | 90 days | 90 days | $48 |
| Mobile device | $1,000 | $1,000 | $50 |
| Travel accident | $250,000 | $500,000 | $10 |
| Flight delay | $500 | $500 | $6 |
| Baggage delay | $500 | $1,000 | $9 |
| Lost or stolen baggage | $500 | $1,000 | $2 |
| Hotel burglary | $500 | $2,500 | $2 – $3 |
| Theft and damage rental car insurance | 48 days | 48 days | $140 |
No matter which card you choose, you’ll benefit from at least $339 worth of insurance. As for which credit card provides the most insurance (and the best rewards and benefits), we examine their differences in full detail below.
What we love about the American Express Cobalt Card
×8 Award winner 
GC: $100
8x Award winner Pros:
- American Express benefits
- Higher returns
- Lower cash advance interest fees
- No income requirements
Cons:
- $2,5000 monthly limit on eligible spending in 5X points categories
- Higher annual fee
- Higher purchase interest fees
- Less insurance coverage
- Lower acceptance for American Express
We can’t talk about the American Express Cobalt Card without acknowledging its many titles, including best rewards, best travel, and overall best credit card in Canada – all of which stem from its stellar earning rate. Choosing the Amex Cobalt means choosing high returns over just about everything else, including benefits and insurance.
Higher returns, more flexibility
- 5 points per $1 spent on eligible groceries and restaurants
- 3 points per $1 spent on eligible streaming services
- 2 points per $1 spent on eligible gas, transit, and ride share purchases
- 1 point per $1 spent on foreign currency purchases
- 1 point per $1 spent on all other purchases
The American Express Cobalt Card earns more points than the TD Aeroplan Visa Infinite Card in more spending categories without losing value. American Express Membership Rewards points can be transferred to Aeroplan for free on a 1:1 basis and you can use the Amex Fixed Points Travel program to get up to 2 CPP without needing to fly Air Canada.
According to our math, the Amex Cobalt offers the highest return rate in Canada. Cardholders can reap 4.5% on average and up to 10% on its best purchase categories, groceries and restaurants. Every percent of returns is another dollar in your pocket, or $4.50 – $10 in rewards for every $100 spent!
The only downside is Amex limits the Cobalt Card’s best earning rate to $2,500 of eligible spending per month. Once you earn 12,500 Amex points on groceries and/or restaurants (valued at approximately $250), your earnings will drop to 1 point per $1 until the 1st of the next month.
American Express benefits
The American Express Cobalt Card doesn’t match the luxury provided by its rival, but it's not without benefits, including:
- A $100 USD hotel credit, room upgrades, early check-ins, and late check-outs at 700+ properties in The Hotel Collection
- Access to special dining, rewards, and shopping rebates through Amex and Member Offers
- Early access to in-demand event tickets, reserved seating, and curated experiences through Amex Front Of The Line, Presale Tickets, and Reserved Tickets
- Exclusive access to dining, entertainment, shopping, and wellness benefits and events through American Express Experiences
Compared to the TD Aeroplan VI, the Amex Cobalt’s benefits emphasize events and shopping rebates rather than fine dining and travel. You’ll get more use from them if you live in or near a major Canadian city stocked with partner hotels, stores, and venues.
What we love about the TD Aeroplan Visa Infinite Card
Pros:
- Air Canada benefits
- Lower purchase interest fees
- More insurance coverage
- Worldwide acceptance for Visa
- Visa Infinite benefits
Cons:
- Higher cash advance interest fees
- Lower returns
- Requires $60,000 of personal or $100,000 of household income
The TD Aeroplan Visa Infinite Card is one of the best TD credit cards in Canada because it’s such a great deal. Cardholders receive steady rewards, a large selection of benefits, and comprehensive travel insurance coverage, all for a moderate annual fee.
Lower returns
- 1.5 points per $1 spent on eligible gas, electric vehicle charging, grocery and direct through Air Canada purchases
- 1 point per $1 spent on all other purchases
As an Aeroplan credit card, the TD Aeroplan VI earns Aeroplan points with every purchase. You’ll receive the most rewards on Air Canada purchases such as air travel, car rentals, hotel stays, vacation packages, in-flight services, or gifts from the duty-free boutique.
Although the TD Aeroplan VI earns fewer points than the Cobalt, it has one point in its favour: acceptance. It’s much easier to find a merchant who accepts Visa than one who accepts American Express, and you only earn points on purchases you can make.
More benefits
If there’s one reason to prefer the TD Aeroplan VI over the Cobalt, it’s the credit card benefits. TD customers receive a $100 NEXUS credit every 4 years, 600 bonus Starbucks Stars, and a 10% discount on Avis and Budget base car rentals in Canada and the US, which drops to 5% internationally.
On the Aeroplan side, you’ll receive preferred pricing on flight rewards, points that never expire, and 1,000 miles and 1 flight toward Elite Status membership per $10,000 spent. You’ll also get 1 free night whenever you book 3 nights entirely in Aeroplan points (or 2 free nights if you book 6) and automatic Avis Preferred Plus status, which entitles you to a complimentary rental car class upgrade.
Finally, you and up to 8 travelling companions on the same reservation will receive a free first checked bag whenever you fly Air Canada, Air Canada Rouge, or Air Canada Express.
Off the tarmac, you’ll be treated to a range of luxury perks courtesy of the Visa Infinite program, including:
- 24/7 Visa Infinite Concierge services
- Automatic Platinum status at 60+ Sandman and Sutton Place hotels courtesy of Visa RSVP Rewards
- Automatic Silver Status in Troon Rewards
- Complimentary tastings, tours, and other benefits courtesy of Visa Infinite Wine Country
- Preferred pricing, complimentary breakfast, room upgrades, and in-room WiFi at 900+ properties in the Visa Infinite Luxury Hotel Collection
- Primetime reservations and access to exclusive in-person dining events through the Visa Infinite Dining Series
- Special perks at the Toronto International Film Festival through the Visa Infinite Screening Series
The TD Aeroplan VI provides an estimated $2,500+ of additional value in credit card benefits compared to the Amex Cobalt’s $780. If you have a taste for the finer things in life, it’s worth considering a Visa Infinite credit card.
More travel insurance
The TD Aeroplan VI provides an estimated $710 worth of coverage and 3 extra types of insurance compared to the Cobalt. To the above list we can add:
- 4 days of emergency medical travel insurance for seniors over the age of 65
- $1,500 of trip cancellation insurance
- $5,000 of trip interruption insurance
TD® Aeroplan® Visa Infinite* Card
| Extended Warranty | 1 year |
| Purchase Protection | 90 days |
| Mobile Device | $1,000 |
| Travel Accident | $500,000 |
| Emergency Medical Term | 21 days |
| Emergency Medical Maximum Coverage | $1,000,000 |
| Emergency Medical over 65 | 4 days |
| Trip Cancellation | $1,500 |
| Trip Interruption | $5,000 |
| Flight Delay | $500 |
| Baggage Delay | $1,000 |
| Lost or Stolen Baggage | $1,000 |
| Hotel Burglary | $2,500 |
| Rental Car Theft & Damage | Yes |
Please review your insurance certificate for details, exclusions and limitations of your coverage.
How do the Amex Cobalt and TD Aeroplan Visa Infinite compare?
Before we declare the winner, let’s do a category-by-category recap of the competition.
Best rewards: American Express Cobalt Card
The American Express Cobalt Card earns more points than the TD Aeroplan Visa Infinite Card, and Amex Membership Rewards provides more redemption options than the Aeroplan rewards program.
Best benefits: TD Aeroplan Visa Infinite Card
The TD Aeroplan VI provides a winning combination of TD, Air Canada, and Visa Infinite benefits to elevate your experience in the air, on the golf course, and more.
Best insurance: TD Aeroplan Visa Infinite Card
The TD Aeroplan Visa Infinite Card offers superior insurance coverage and claim limits, plus essential travel protection for seniors over 65.
Highest acceptance: TD Aeroplan Visa Infinite Card
Although many businesses accept American Express, it has yet to catch up to Visa, the world’s leading payment network. The TD Aeroplan VI is welcome in more than 170 countries and territories worldwide.
Interest fees: Tie
While the Cobalt offers the lower rate on purchases, the TD Aeroplan VI has a lower rate on cash advances.
| Amex Cobalt interest rate | TD Aeroplan VI interest rate | |
|---|---|---|
| Purchases | 21.99% | 21.99% |
| Cash advances | 21.99% | 22.99% |
| Balance transfers | N/A | 22.99% |
Lowest annual fee: TD Aeroplan Visa Infinite Card
Not only does the TD Aeroplan Visa Infinite Card charge less per year, but it also includes a first year fee waiver and a further annual rebate when you open a TD All-Inclusive Banking Plan. If you’re set on the Cobalt, you’ll be pleased to know its $191.88 yearly fee is charged as $15.99 per month.
It costs $75 per year to add an authorized cardholder for the TD Aeroplan VI and $0 to add one for the Amex Cobalt.
Lowest eligibility requirements: American Express Cobalt Card
The American Express Cobalt Card may be yours with a good credit score, but the TD Aeroplan Visa Infinite Card demands at least $60,000 of personal or $100,000 of household income per year.
The winner: American Express Cobalt Card
Rewarding, accessible, and versatile, the American Express Cobalt Card can help more Canadians save faster for their vacations. Although the TD Aeroplan Visa Infinite Card provides a greater value in benefits and insurance, cardholders must spend 3 times as much on gas, groceries, and/or Air Canada to match the value of the Cobalt’s rewards.
Top travel alternative
×1 Award winner GC: $100
1x Award winner If you’d like more benefits than the Amex Cobalt and more points than the Aeroplan VI, check out the Scotiabank Gold American Express Card. You’ll earn tons of Scene+ points to spend on travel, enjoy Amex benefits and airport lounge access, and pay no foreign exchange fees when shopping abroad.
FAQ
What are the drawbacks of the American Express Cobalt Card?
The biggest downside to theAmerican Express Cobalt Card is Amex’s somewhat limited acceptance, especially among international vendors. It also limits eligible spending in the 5X points categories to $2,500 per month.
Can I transfer my Amex Cobalt points to Aeroplan?
You can transfer an unlimited number of American Express Membership Rewards points to Aeroplan for free at a 1:1 ratio.
Is it worth it to transfer Amex points to Aeroplan?
The Amex Fixed Points Travel Program is easier to use than Aeroplan and offers similar value on domestic flights, but if you’re considering a quiet international destination, transferring your points to Aeroplan will yield better value.
What income do you need for Amex Cobalt?
The American Express Cobalt Card has no hard income requirements.
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