Overview of the American Express Cobalt® Card

Earn rewards

5 points/$1

On eligible eats and drinks in Canada, including groceries and food delivery., restaurants (including fast food & drinks)

3 points/$1

On eligible streaming subscriptions in Canada

2 points/$1

On eligible ride shares, transit & gas in Canada, travel (including flights, hotels, taxis, public transit)

1 point/$1

On other purchases

American Express Cobalt® Card details

Welcome bonus: earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
Annual fee: $156
Reward: Earn 5x points on eligible eats and drinks in Canada, including groceries and food delivery., restaurants (including fast food & drinks), 3x points on eligible streaming subscriptions in Canada, 2x points on eligible ride shares, transit & gas in Canada, travel (including flights, hotels, taxis, public transit), 1x points on other purchases
Average point value: $0.01
Purchase interest rate: 20.99%
Cash advance interest rate: 21.99%
Balance transfer interest rate: N/A
Minimum income: Any amount
Household income: Any amount
Recommended credit score: 660+
Network: American Express
Provider: American Express
Card type: Travel

Detailed card summary

Benefits & features

Ratehub.ca’s 2023 Award Winner – Best Rewards Credit Card
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
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 on eligible ride shares, transit & gas 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
Enjoy access to hotel bookings, 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
Cobalt Cardmembers receive regular Perks such as bonus reward offers and access to great events
Access Front Of The Line® Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with American Express® Experiences
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, (I/we) may receive compensation from American Express, which can be in the form of monetary payment

How to redeem

How to get approved

User reviews

Average user score for American Express Cobalt® Card

5.0 | 1 review

Cody K September 27, 2017
This card is probably my favourite card in my wallet. 1) looks slick 2) has 5% back on food and groceries! and comes with Amex customer service. I also really like their mobile app, and how it shows pending transactions. Redeeming for travel is crazy easy (I can book anywhere and get a statement credit!)

Ratehub review

Natasha Macmillan

July 20, 2023

5 | Our rating

The American Express Cobalt has solidified its position as one of Canada’s best travel credit cards in 2023. If you’re looking for a versatile and rewarding credit card that excels both in everyday spending and travel, the American Express Cobalt is your ideal choice. Cardholders can take advantage of the strong travel insurance, a generous welcome offer, and flexible point redemption options.

Pros

Exceptional point earning: 5x the points on eligible restaurant and food delivery, 3x the points on eligible streaming services, 2x the points on travel and daily transit. The earning potential for restaurants and takeout is significantly higher than most other cards
Flexible point redemption: Easily redeemable Membership Rewards for travel, gift cards, merchandise, or purchases. Frequent flyers can also transfer their points 1:1 to several loyalty programs
Exclusive access: Enjoy privileges such as Front of the Line Presale and Reserved tickets to concerts, theatre performances, movie screenings, culinary events, and other special offers
Comprehensive travel insurance: Benefit from a strong travel insurance package, including up to $5,000,000 in travel emergency medical
No additional fee for authorized users: Add authorized users for no extra cost (an average fee of $30 – 50 on other comparable cards)

Cons

Monthly fee: A monthly fee of $12.99 (totalling an annual fee of $156, which is higher than most other rewards cards)
Limited acceptance: American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
Travel insurance age limitations: The travel insurance package does not cover trip cancellation or medical coverage for cardholders over the age of 65
Lack of airport lounge access: Frequent travellers may be disappointed as this card does not offer access to airport lounges

Legal

Effective August 15, 2023, Cobalt Cardmembers will earn 5x the points on all eligible eats & drinks charged to their Card up to $2,500 monthly, for the same total of $30,000 annually already in place today. Cardmembers will also continue to earn 3x on streaming subscriptions, 2x on eligible transit, gas & travel purchases and 1x on everything else. T&Cs apply. While the annual earn does not change, the new monthly construct intends to curb gaming activity. The change should have little to no impact on the majority of Cardmembers who utilize the Card and Membership Rewards program as it was intended.

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