Two of Canada’s best travel rewards cards — but with fundamentally different strategies. The Amex Cobalt earns transferable Membership Rewards points with a blazing 5x on food; the TD Aeroplan Visa Infinite earns Aeroplan directly at competitive rates. Both are aimed at Canadians who want premium travel rewards. Here’s how they compare.
At a Glance
| Feature | Amex Cobalt | TD Aeroplan Visa Infinite |
|---|---|---|
| Annual fee | $156 | $139 |
| Network | Amex | Visa |
| Grocery earn | 5x MR ($30,000/yr cap) | 1.5x Aeroplan |
| Dining earn | 5x MR | 1.5x Aeroplan |
| Gas earn | 3x MR | 1.5x Aeroplan |
| Travel earn | 2x MR | 3x Aeroplan (Air Canada) |
| All other | 1x MR | 1x Aeroplan |
| Points currency | Amex MR (transferable) | Aeroplan (direct) |
| Transfer to Aeroplan | Yes (1:1) | N/A — already Aeroplan |
| Acceptance | Lower (Amex) | Universal (Visa) |
| Income requirement | None | $60,000 / $100,000 HH |
Earn Rate Comparison
Grocery and dining scenario ($1,500/month spend):
| Card | Points Earned/Month | Value at 1.5¢/pt | Value at 2.5¢/pt |
|---|---|---|---|
| Amex Cobalt (5x) | 7,500 MR | $112.50 | $187.50 |
| TD Aeroplan Visa Infinite (1.5x) | 2,250 Aeroplan | $33.75 | $56.25 |
Cobalt wins on food spending by a factor of 3x in points earned.
Travel scenario ($5,000 Air Canada booking):
| Card | Points Earned | Value at 1.5¢/pt |
|---|---|---|
| TD Aeroplan (3x on Air Canada) | 15,000 Aeroplan | $225 |
| Amex Cobalt (2x travel) | 10,000 MR | $150 (at 1.5¢) |
TD Aeroplan wins on Air Canada bookings.
Flexibility: Transferable vs Direct Earn
Cobalt (Amex MR): Points transfer to Aeroplan 1:1, so you’re not locked in. You can also transfer to British Airways Avios, Air France Flying Blue, or Cathay Pacific Asia Miles for potentially higher per-point value. If your travel plans change, you can optimize later.
TD Aeroplan: Points land directly in your Aeroplan account — no transfer step needed. If you’re an Air Canada loyalist who knows exactly how they’ll redeem (Aeroplan awards), this saves a step.
Acceptance: Amex vs Visa
This is the Cobalt’s real weakness in Canada. Amex is not accepted everywhere — Costco, many independent restaurants, some grocery stores, and smaller merchants do not take Amex. If you need universal acceptance, the TD Aeroplan Visa wins.
Common solution: Use Cobalt everywhere it’s accepted (especially restaurants and groceries), with a backup no-fee Visa/Mastercard for Amex-not-accepted situations.
Welcome Bonus Comparison
Both cards offer competitive welcome bonuses — verify current offers at amex.ca and td.com, as these change regularly. Cobalt’s bonus is structured as monthly earn boosts in year one; TD Aeroplan’s is a lump-sum bonus after minimum spend.
Who Should Choose Each Card?
Choose Amex Cobalt if:
- Dining and groceries dominate your spending
- You want the highest possible points accumulation from food spend
- You’re comfortable with Amex acceptance gaps (or have a backup card)
- You value transfer flexibility to multiple partners
Choose TD Aeroplan Visa Infinite if:
- You fly Air Canada frequently and want direct Aeroplan earn + status consideration
- You need universal Visa acceptance
- You want all travel insurance on a Visa
- You prefer simplicity of one programme
The Verdict
The Cobalt is the better accumulation card for food-heavy spenders — it earns 3x more points on dining and groceries. The TD Aeroplan is the better Air Canada loyalty card with 3x on Air Canada purchases and the simplicity of direct Aeroplan deposit. Many serious Canadian points enthusiasts hold both.
Related Articles
- American Express Cobalt Card Review
- TD Aeroplan Visa Infinite Review
- Amex MR Transfer Partners in Canada
- Aeroplan Programme Guide
- TD Aeroplan vs CIBC Aeroplan
Card details current as of June 2026. Welcome bonuses change frequently. Verify at amex.ca and td.com. See our Advertiser Disclosure.