Amex Cobalt vs. Scotiabank Passport: full comparison
| American Express Cobalt | Scotiabank Passport Visa Infinite | |
|---|---|---|
| Cost | ||
| Annual fee | $155.88 ($12.99/mo) | $150 |
| Income requirement | None published | $60K personal / $100K household |
| Earn rates | ||
| Eats & drinks (dining, food delivery, bars) | 5x MR (up to $2,500/mo) | 2x Scene+ dining |
| Groceries | 5x MR (eats & drinks, shared $2,500/mo cap) | 3x at Sobeys banners · 2x other |
| Streaming | 3x MR | 1x |
| Transit | 2x MR | 2x Scene+ |
| Gas | 2x MR | 1x |
| All other purchases | 1x MR | 1x Scene+ |
| Travel & foreign spending | ||
| Foreign transaction fee | 2.5% | None |
| Airport lounge passes | None | 6 per year |
| Travel insurance | Travel & purchase coverage | Comprehensive (medical, trip, rental) |
| Rewards program | ||
| Loyalty currency | Membership Rewards | Scene+ |
| Airline transfer partners | Aeroplan, Avios, Flying Blue, Marriott, Hilton | None (fixed-value Scene+) |
| Welcome bonus | Up to 15,000 pts (first year) | Varies · check current offer |
The Cobalt earns Membership Rewards, which transfer to airline and hotel programs. The Passport earns Scene+, a fixed-value currency worth about 1¢ per point toward travel, groceries, dining, and Cineplex.
Two cards, two different jobs
This is not a case of one card beating the other. The Amex Cobalt is an earning engine for food and drink. Its 5x rate covers groceries, restaurants, food delivery, and bars in Canada, up to $2,500 in net purchases a month, and the Membership Rewards points it earns can transfer to Aeroplan, Avios, or Flying Blue, which is where their value can climb well past 1¢. What it is not is a travel card: it adds a 2.5% fee on every purchase in a foreign currency and includes no lounge access.
The Scotiabank Passport Visa Infinite is the mirror image. Its earn rates are lower and its Scene+ points are fixed-value, but it waives the foreign transaction fee entirely, hands you six airport lounge passes a year, and carries full travel insurance. It is built to be used the moment you leave the country, which is exactly when the Cobalt becomes expensive to use.
The foreign transaction fee is the real divider
Almost every Canadian card, the Cobalt included, adds 2.5% to purchases made in a foreign currency. The Passport does not. On $5,000 of foreign spending in a year, that is about $125 saved before any points are counted. If you travel or shop in US dollars often, this single line decides it.
Amex Cobalt or Scotiabank Passport: how to choose
| Choose the Amex Cobalt if… | Choose the Scotiabank Passport if… |
|---|---|
| Most of your spending is food, dining, and groceries | You spend in a foreign currency often and want to skip the 2.5% fee |
| You want points that transfer to airlines like Aeroplan and Flying Blue | You want airport lounge passes and comprehensive travel insurance |
| You can't meet a $60K income requirement, or prefer no income gate | You prefer simple fixed-value Scene+ points with no transfer learning curve |
Common questions
Which is better, the Amex Cobalt or the Scotiabank Passport?
They do different jobs. The Amex Cobalt is the better everyday earner if most of your spending is food: it earns 5x Membership Rewards on eats and drinks, including groceries and restaurants, and those points transfer to airlines like Aeroplan and Flying Blue. The Scotiabank Passport is the better travel card: no foreign transaction fee, six airport lounge passes, and fixed-value Scene+ points. Choose the Cobalt for food and flexible points, the Passport for travel and foreign spending.
Which card is better for travelling abroad?
The Scotiabank Passport, clearly. It charges no foreign transaction fee, while the Amex Cobalt adds the usual 2.5% currency conversion charge on every purchase in a foreign currency. On $5,000 of foreign spending a year, the Passport saves about $125 in fees alone, before counting its six lounge passes and travel insurance.
Can you hold both the Amex Cobalt and the Scotiabank Passport?
Yes, and it is a common pairing. Many people use the Cobalt for everyday food and drink spending, where its 5x rate is hard to beat, and the Passport for travel and any purchase in a foreign currency, where its no-FX-fee and lounge access matter most. The two cards cover each other's weak spots.