American Express Cobalt® Card
on American Express Canada's website
Pros & Cons
Pros
- +Welcome Bonus: 15,000 points
- +Up to 5x on Restaurants
- +Purchase protection included
Cons
- –High annual fee ($191.88/yr)
- –Foreign Transaction Fee (2.5%)
- –No airport lounge access despite fee
Our Review
The American Express Cobalt® Card is the best credit card from American Express, whether you want points for travel or cash back.
The welcome bonus is distributed monthly for the first 12 months. You’ll earn 1,250 Membership Rewards points for every $750 in purchases charged to your card during the month (whether in the 1X, 2X, 3X or 5X category). That’s up to 15,000 Membership Rewards points.
You can easily use these points as statement credits for everyday or travel purchases. The value is the same for both: 1,000 points = $10.
Alternatively, transfer them to Aeroplan points, Avios (British Airways/Qatar Airways), Flying Blue, Marriott Bonvoy, or Hilton Honors.
For example, with this welcome offer, if you decide to transfer your Membership Rewards points to a partner loyalty program, you would have the choice of earning up to:
- 15,000 Aeroplan points
- 15,000 Avios points
- 15,000 Flying Blue Miles
- 18,000 Marriott Bonvoy points
With the American Express Cobalt® Card, you can earn between 1 and 5 points per dollar:
| Category | Points per dollar |
| Grocery (Métro, IGA, Sobeys, Super C, etc.) | 5 |
| Home food delivery | 5 |
| Restaurants and bars | 5 |
| Convenience stores | 5 |
| Streaming services | 3 |
| Service station | 2 |
| Transport | 2 |
| Travel | 1 |
| Other | 1 |
This is a 1 to 5% return on all these purchases.
For example, if you spend $1,000 per month on groceries and/or restaurants and/or food delivery, you’ll earn $50 cash back per month, or $600 cash back per year with this card for this category of purchases!
And if you decide to transfer your points to other programs like Aeroplan, you could get even more value!
In addition, this card provides excellent insurance coverage: rental car theft and damage, baggage delay, lost or stolen baggage, flight delay, $250,000 travel accident, hotel or motel burglary, Mobile Device Insurance, Purchase Security, Purchase Protection Insurance.
Like all American Express Canada Cards, there is no minimum income requirement.
Rewards
All Spending
1x
Amex Membership Rewards pts per dollar
Restaurants
5x
Groceries
5x
Convenience
5x
Streaming
3x
Transit
2x
Gas
2x
Credit Card Rewards Calculator
See how much you could earn with this card based on your spending.
Points Earned
84,000
Amex Membership Rewards/yr
Estimated Value
$1,428
After Fees
+$1,236
1st Year Value
$1,491
incl. welcome bonus
Annual rewards breakdown
- Get 1,250 Amex Membership Rewards after $750 in purchases per month for 12 months
Travel Insurance
Travel Medical
Up to $5,000,000 / 15 days
Delayed Baggage
Up to $500
Lost Baggage
Up to $500
Flight Delay
Up to $500
Hotel Burglary
Up to $500
Travel Accident
Up to $250,000
Purchase Protection
Purchase Protection
Included
Extended Warranty
+1 year(s)
Mobile Device
Up to $1,000
Auto Rental
Up to $85,000 / 48 days
Interest Rates
- Purchase Rate21.99%
- Cash Advance21.99%
- Foreign Transaction Fee2.5%
Terms & Conditions
Card Features
- In your first year as a new Cobalt Cardmember, you can earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in net purchases on your Card. This could add up to 15,000 points in a year. That’s up to $150 towards a weekend getaway or concert tickets
Card features
- Earn 5X the points on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.
- Earn 3X the points on eligible streaming subscriptions in Canada
- Earn 2X the points for eligible gas, public transit and ride sharing purchases in Canada
- Earn 1 additional point on eligible hotel and car rental bookings via American Express Travel Online
- Earn 1X point for every $1 in Card purchases everywhere else
- Fees: $15.99/month (Equals $191.88 annually) for non-Quebec residents. $191.88/year for Quebec residents.
- Enjoy access to hotel bookings, a room upgrade (when available), 12pm check-in and late check-out (when available), and up to $100 USD hotel credit to use on amenities when charged to the room for a stay of 2 or more consecutive nights through The Hotel Collection from American Express Travel
- Transfer points 1:1 to several frequent flyer and other loyalty programs
- Access Front Of The Line® AmexTM Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with Amex ExperiencesTM
Apply with confidence!
- See if you’ll be approved before you apply – with no impact to your credit score.*
- When applying for a new card, businesses will typically run a “hard check” of your credit report. A hard credit check can cause a temporary impact to your credit score.
- Unlike many lenders, for American Express’ personal cards, you can see if you will be approved before you apply without impacting your credit score
- A soft credit check is a check into your credit report initiated either by you or a company even if you didn’t apply for credit. It is primarily used to screen for pre-approval financing offers or for a background check
- Available for American Express personal cards, we’ll let you know your eligibility with no impact to your credit score, so you can submit your application with confidence.*
*Instant decisions are only available for Consumer (also known as Personal) Card applications.
Legal
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, we may receive compensation from American Express, which can be in the form of monetary payment.
Related Cards
Conditions apply. All information is believed accurate but not guaranteed. Card details, rewards, and offers are subject to change at any time. Always verify the latest terms on the issuer’s website before applying. EducFinance may receive compensation through affiliate links. This does not affect our editorial choices or card rankings. © 2026 American Express Canada. All trademarks are property of their respective owners.