Tie (1x vs 1x – Cobalt’s 2x tier is gas/transit/rideshare, not general travel)
Air Canada bookings
TD Aeroplan
Gas
Amex Cobalt (2x vs 1.5x; both pay a bonus rate on gas)
Everything else
Tie (1x on both)
Earning Example: $2,500/month Spending
Spending Pattern
Category
Monthly Spend
Groceries
$600
Restaurants
$400
Gas/Transit
$300
Travel/Hotels
$200
Everything else
$1,000
Total
$2,500
Points Earned
Card
Calculation
Annual Points
Amex Cobalt
(600×5)+(400×5)+(300×2)+(200×1)+(1000×1)×12
81,600 points
TD Aeroplan
(600×1.5)+(400×1)+(300×1.5)+(200×1)+(1000×1)×12
35,400 miles
Amex Cobalt earns roughly 2.3x more points on this spending pattern.
Redemption Value
Aeroplan Redemptions
Redemption
Value per Point
Air Canada flights (economy)
1.5-2.0¢
Partner flights (economy)
1.5-2.5¢
Business/First class
2.0-4.0¢+
Pointly (merchandise)
~0.7¢
Amex Cobalt Redemptions
Redemption
Value per Point
Transfer to Aeroplan
1.5-2.5¢+
Transfer to other partners
1.0-2.0¢
Fixed Points Travel
Depends on the fare and route category; from January 6, 2027, Amex’s terms limit the program to the Centurion, Platinum, Business Platinum and enrolled Corporate Platinum cards, so the Cobalt loses access from that date
Statement credits
0.7-1.0¢
Winner: Tie (Both can access Aeroplan seats)
Since Cobalt transfers 1:1 to Aeroplan, both cards can achieve the same Aeroplan redemption value. Both cards also have full reviews, listed with the rest on our card reviews hub.
Welcome Bonuses
Feature
Amex Cobalt
TD Aeroplan Visa Infinite
Offer structure
Monthly points: a set number of points for each month you meet a monthly spend target
Tiered Aeroplan points: released in stages after the first purchase and after spend thresholds
Timeline
Spread over the first 12 months
Mostly in the first few months, with a later tier possible
Welcome bonus amounts and structures change frequently for both cards. Compare the current offers directly on Amex’s and TD’s websites before applying; how welcome offers work covers what to check.