Fees. No Annual Fee. The AMEX Cobalt features several categories but most of the category overlap and intersect with one another. In that case, with the Scotia card you would earn 1 point while with the Cobalt card you would earn 2.5 points (5% – 2.5% forex fee, assuming you apply the points against travel expenses). First year annual fee waived; American Express Cobalt Card. Amex foreign transaction fees apply when you buy things abroad OR shop at foreign merchants online. You can also receive two Monthly Payment ** benefits toward your balance to mark special occasions, such as marriage, retirement or birth of a child! Visa and Mastercard both charge a fee of 1%. Get the first year free, saving you $120. That’s $439 difference in fees for only 20k pts more. Foreign Currency. 10% cash back on all purchases + first year free. American Express Cobaltᵀᴹ Card Requirements. Foreign transactions ran across the AMEX Gold will incur an additional 2.5% for each charge. There’s more to it then that but it’s a high level overview when comparing the two cards. Transactions in a foreign currency are charged a 2.5% fee. This offer is only available to new American Express Cobalt Cardmembers. Platinum: $3,000 MSR for 50k MR in 3 months. Purchases made outside of Canada (or directly with some international airlines) will incur a 2.50% fee. Any other fees you pay beyond this will be standard fees for your account and not directly related to your Amex acceptance. Amex Keyed Fee (0.30%): This additional fee only applies to keyed-in or manually-entered transactions. The average credit card adds 1.5% to every international charge. Interest charges, annual fees, other fees and cash equivalent transactions are not purchases and do not qualify for Membership Rewards points. They both feature flight delay, car rental coverage and lost and stolen baggage. However, there is an Amex card with no foreign transaction fees and no annual fee: the Hilton Honors American Express Card (see rates & fees). All Categories. Benefits All Categories. Credit limit of $500 to $4,000. AMEX® Account Protector Ultimate can protect your balance for up to $20,000 if you experience a loss like unemployment, illness or death. No Foreign Transaction Fees! Scotiabank Gold American Express. All Cards. Apply now: American Express Cobalt Card product rating: 5.0 stars. Co- Branded Cards. No Annual Fee. Since the Cobalt card doesn’t have that feature, you’re paying 2.5% more whenever you make a purchase in a foreign currency. Winner: American Express Cobalt. Both cards feature very similar travel insurance coverage. Foreign exchange fee: 2.5%: Special features * Access to Cobalt Perks Program, Amex Front Of The Line, and Amex Offers : Insurance coverages: 9 types: Interested? Regardless of the type of credit card, this fee is applied to all transactions. The final major boost to the Scotia Gold Amex is the elimination of the 2.5% foreign transaction fees on the card. 10% return on all purchases for 3 months ‒ until Feb 28, 2021. purchase card with no fees for foreign transactions or late payments. If this card had 0% foreign transaction fees, it could almost be a perfect offering. That said, the American Express Cobalt does offer free supplementary credit cards, so it won’t cost anything to add an authorized user. Secondly, we should let you know that there aren't many that do and there is a big reason why. Starting on August 1, the card will have no foreign transaction fees, bringing it in line with the Scotia Passport Visa Infinite product. Good: No Foreign Exchange Fees. Intro APR period You won’t find a 0% intro APR period in any of these cards. If you’re looking for an international credit card, it’s best to … Earn up to 30,000 Points; 5x on Groceries and Dining! Bankwest Zero Platinum card – $0 annual fee and no foreign transaction fees – great combination for annual travel and occasional use – may also suit shoppers paying their balance off each month. Business. American Express Cobalt TM Card. With millennials and pretty much everyone in mind, this card offers a juicy 5% rewards rate on food and drink purchases, 2% on travel and 1% for all your other spending. That means you and … Send and receive international payments for your business using a simple and secure online payment platform. Please answer all two questions to find your Card. The annual fee is a steep $699 (though you are getting that $200 travel credit), and like most Canadian credit cards you’ll also incur foreign transaction fees if you use the card abroad. You can use this rewards calculator to calculate how many points, miles, or cash back you can earn based on your spend per category. This may not matter for many people, but it’s something to consider. and Card Value Calculator. That means you’ll need to spend $6,000 over the course of a year to get the full bonus of 30,000 Membership Reward Select (MRS) points, but it’s worth it since your points can be converted to hotel points or used for travel credits. The American Express Cobalt card is at the top of my list of the best travel credit cards in Canada. Like most of the recent offers for this conversion, it is once again a 15% bonus. This can be summed up with five main categories which are grocery shopping, dining, travel, transit, and gas station purchases. Despite the AMEX Cobalt charging a foreign transaction fee you would still come out ahead if the purchase was made in the 5x points category. AMEX, unfortunately, does not have a similar feature for its cards. No Foreign Transaction Fee: International purchases, whether you’re traveling abroad or shopping online from foreign merchants, won’t cost you extra with Amex Gold, thanks to its 0% foreign fee. Scotiabank Gold American Express. while the other part is imposed by the issuer (Citibank, Chase, etc.). This fee, known as the Foreign Transaction Fee is charged over and above the actual exchange rate. Earn up to 30,000 Points; 5x on Groceries and Dining! Featured Cards. Annual fee of $120, which is waived for the first year. Additional cards are available for no additional fee. In your first year as a new Cobalt Cardmember, earn 2,500 Membership Rewards points for each monthly billing period in which you spend $500 on your card (for a total of 30,000 points in a year). Earn up to 30,000 Membership Rewards® points 2. That said, I can’t imagine why the foreign currency rates that AMEX uses would be drastically different from Mastercard/Visa, so if you enter the relevant foreign currency transaction fee for your AMEX you should get a figure that’s not too far off. The first is charged by the credit card network (Visa, Mastercard, etc.) Some of the best American Express cards with no foreign fees include Amex Platinum and Premier Rewards Gold as well as the PenFed Premium Travel Rewards card and the Amex cards affiliated with Starwood, Hilton and Delta. The fee is charged monthly The American Express Cobalt has an annual fee of $120, but unlike most other cards, it charges you monthly rather than annually, so it feels more manageable. Westpac Lite Credit Card – Low 9.90% p.a. by spending at least $500 monthly with the Amex Cobalt Card: Travel Credit : $200 annually $100 hotel credit annually Foreign Transaction Fees: 2.5% for purchases and ATM usage 2.5% for purchases and ATM usage Eat & Drink Bonus (per $1 spent) 3x unlimited: 5x limited to the first $30,000 spent annually: Travel Bonus (per $1 spent) 2x 2x incl. It doesn't stop there. That’s great if you have a lot of friends and family that you trust to responsibly use the card in order to rack up the points! And many American Express credit cards charge a foreign transaction fee of 2.7%. No Foreign Transaction Fees! The Cobalt Card is also offering up to 9 supplementary cards for free! That offer is the latest transfer bonus from RBC Rewards to WestJet Rewards. 2. No Foreign Transaction Fee (FTF) Credit Cards like Chase Sapphire Preferred, Discover it, AmEx SPG, BoA Travel Rewards can save you 3% when using abroad. Earn up to 40,000 BMO Reward Points! Authorized User Fee; Foreign Transaction Fee; AMEX Points Calculator; Bonus Categories. These cards advertise low or no fees on foreign transactions, connect to extensive international ATM networks, and, sometimes, will waive extra fees for currency conversion. If you’re looking to consolidate your debt or carry a large purchase interest-free for a long period, look for 0% intro APR cards. Rack up Membership Rewards with the AMEX Cobalt on your everyday spending and redeem for flights, car rentals, merchandise and more. Conclusion. This offer is only available to new American Express Cobalt Cardmembers. The American Express Cobalt Card can get you some of the best earn rates on 2 major categories – groceries and restaurants. 5 days ago. Membership Rewards® Cashback. Earn up to 15,000 bonus points! $499 net annual fee. The Amex Cobalt card is interesting since the annual fee and signup bonus happen on a monthly basis. Earn up to 40,000 BMO Reward Points! Earn up to 30,000 Scotia Rewards points; BMO World Elite MasterCard. Winner: AMEX Cobalt (but just slightly) The Scotiabank Gold American Express and the American Express Cobalt both have an annual fee of $120 for the primary cardholder, so the two cards are evenly matched in this respect. Foreign Transaction Fee. Best cash back credit card in Canada for 2 years in a row. Interest charges, annual fees, other fees and cash equivalent transactions are not purchases and do not qualify for Membership Rewards points. Annual fee. Monthly $9 card fee. Earn up to 15,000 bonus points! Most Popular. Earn up to 30,000 Scotia Rewards points; BMO World Elite MasterCard. The good thing is credit card companies (Visa, Mastercard, Amex) tend to have extremely good exchange rates compared to banks and currency conversion outlets. No Foreign Transaction Fee Credit Cards for Canadians; We came across this next offer somewhat late due to our vacation but for anyone who is interested, you still have a week or so to take advantage of it. Why don't you try looking at the rates and fees table for your card... it has to be there. 4% … Travel. One major difference between the card is the no foreign transaction fees that the Scotiabank Gold Amex has. Amex Interchange Rates With A Direct Agreement . You may want to request a no foreign transaction fee credit card specially for this purpose. As we … Amex Cross-Border Fee (0.40%): This additional fee only applies to international transactions. Categories . The foreign transaction fee is composed of two parts. $60 fee. Cobalt: $3,000 MSR for 30k MR-S in 6 months. The results, for me, were a bit of a mixed bag. First year annual fee waived; American Express Cobalt Card.
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