Amex Cobalt vs Scotiabank Passport Visa Infinite for Travel

Maximizing the flexibility of a good rewards program

Each of these travel cards comes with unique perks, and when used together, they complement one another exceptionally well. The Amex Cobalt clearly stands out for its generous rewards structure, offering high earn rates on dining, subscriptions and groceries. This allows you to quickly accumulate points on it, compared to the Scotiabank Passport Visa Infinite. In fact, it tops the Money.ca list of best credit cards in Canada for this very reason.

Even though the Amex Cobalt is not accepted at Loblaws or Costco, I can regularly use it at Shoppers Drug Mart, Walmart, restaurants and Uber Eats, getting bonus points on every purchase. I also earn bonus points on my Hayu, Spotify and Netflix subscriptions every month. Let's crunch some numbers to see the minimum number of points I can accumalate annually.

With the Cobalt earn rate, if you spend $500 monthly on groceries, $200 on dining out, $100 on subscriptions and $1,000 on other purchases, here's what you'd earn:

• Groceries: 500 × 5 points = 2,500 points
• Dining: 200 × 5 points = 1,000 points
• Subscriptions: 100 × 2 points = 200 points
• Other purchases: 1,000 × 1 points = 1,000 points
• Total monthly points: 4,700

That brings the potential annual membership rewards points to 4,700 × 12 points = 56,400

That’s 56,400 points per year, which can unlock significant free travel when transferred to Aeroplan or Emirates Skywards at a 1:1 ratio and redeemed for flights. That’s around $1,128 CAD in value—enough for an easy ticket to Tokyo!

For travel point benefits, the Amex Membership Rewards program is truly the best out there due to its flexibility, as it allows you to transfer your accumulated points in a matter of minutes to amazing travel rewards programs, such as Air Canada’s Aeroplan, KLM’s Flying Blue and Emirates’ Skywards. I transfer my points according to which carrier I want to book my flights with. For example, I prefer Emirates’ luxury Air Bus 380 for long haul flights and use my Amex Membership Rewards points as Emirates Skywards Miles to upgrade my flight or get special perks such as hotel stays. But for lounge access, no FX fee and comprehensive travel insurance, I rely on my trusty Scotiabank Passport Visa Infinite card.

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The ultimate luxury of the Scotiabank Passport Visa Infinite

When it comes to luxury travel perks, the Scotiabank Passport Visa Infinite comes with a variety of wonderful benefits. The Amex Cobalt charges a standard 2.5% foreign transaction fee, while the Scotiabank Passport Visa Infinite has no foreign transaction fees, making it an excellent choice for international spending. It’s my best friend when it comes to online shopping and travelling, replacing cash on every trip I take to the States and around the world.

The Visa Airport Companion lounge membership gives me complimentary passes, allowing me to access some of the best airport lounges in the world. And as someone who has travel anxiety and prefers layovers, I get to comfortably recharge and refresh myself in between flights. I recently used my complimentary lounge access pass in Dubai, at the Ahlan lounge, which saved me more than USD$32 in lounge entrance fees, not to mention the money I saved in  food (just one of the perks that comes with lounge access). I also used my Scotiabank Passport Visa Infinite card to make purchases at the duty free stores, avoiding the FX fee on each purchase.

And let’s not forget that you can skip long lines at several airports with the Visa Infinite Privilege. Simply flash your Scotiabank Passport Visa Infinite card and zip through security express lanes at several international, domestic and transborder checkpoints.

Insurance benefits to consider

The Scotiabank Passport Visa Infinite stands out with its valuable trip cancellation and interruption insurance, a feature missing from the Amex Cobalt. Additionally, it offers longer coverage for travel medical insurance, which can be crucial for extended trips. The Scotiabank Passport card also boasts higher coverage for delayed and lost baggage, making it a clear winner in this category.

Personally, I like charging my trips to the Scotiabank Passport Visa Infinite card because of the more comprehensive insurance coverage as life happens, and you can’t always predict the future. It’s important to remember that your trip is covered with cancellation and interruption insurance when you charge at least 75% of your trip costs to your card. Knowing my trips paid through the Scotiabank Passport Visa Infinite are always covered gives me great peace of mind.

The Amex Cobalt, on the other hand, offers higher travel medical insurance coverage (albeit for a shorter duration), higher car rental insurance coverage and added mobile device insurance. Your choice between these two cards may depend on your travel habits and specific needs.

If you frequently book non-refundable travel arrangements to save extra dough or tend to take longer trips, the Scotiabank Passport Visa Infinite may be more suitable. But if you value higher coverage amounts for medical emergencies and car rentals, the Amex Cobalt could be the better choice. Remember, insurance terms and conditions can change, so it's always a good idea to check the most current information directly with the card issuer before making a decision. Also, consider other factors such as annual fees, rewards programs and additional perks when choosing between these cards.

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Is the annual fee really worth it?

But what about the annual fees? I know you’re probably thinking that having two travel credit cards with significant annual fees is excessive. However, the Amex Cobalt pays for itself. Every month, I have the option of offsetting the Cobalt’s monthly fee with statement credits because I rack up points so easily.

Similarly, for the Scotiabank Passport Visa Infinite, I use my Scene points for statement credits. With free lounge access and no foreign transaction fees, I don’t mind the annual fee at all. Here’s how much I’m saving:

• Foreign transaction fee savings throughout the year: 2.5% of $5,000 average spending = $125
• Lounge access savings ($32 USD): CDN$43 × 6 = $258
• Total savings: $383

This $383 in savings already outweighs the combined annual fees of both cards, and we haven't even factored in the value of the points earned or the travel insurance benefits. Not to mention the Scene points I’m racking up and redeeming in statement credits throughout the year.

When it comes to welcome offers, the Scotiabank Passport often offers a higher upfront value, but if you look at the Amex Cobalt and its potential referral bonuses, you can easily rack up more points, all ready to transfer to your airline's loyalty program.

The bottom line

By strategically using both these cards, you're not just maximizing your rewards — you're elevating your entire travel experience. From earning points on everyday purchases with the Amex Cobalt to enjoying stress-free international spending and airport lounge access with the Scotiabank Passport Visa Infinite, this combination covers all bases for the savvy traveler. I can already hear the tropical birds and waves crashing on the beach as I type this, knowing that my next adventure is being funded by my smart credit card strategy.