Intro: Why the Amex Cobalt Card Deserves a Spot in Your Wallet
The American Express Cobalt Card has become a favourite among Canadian travellers, foodies, and everyday spenders alike. With standout earn rates on groceries, dining, streaming, and transit, it delivers real-world value where most people actually spend.
Earn
up to 15000 Amex points
Annual Fee:
Rewards:
Earn
5x
points
on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.
But is it still worth it in 2025? And how does it compare to other popular Amex cards in Canada?
In this review, I’ll break down the actual value of the welcome bonus, point-earning potential, referral perks, and redemption options based on years of data and personal experience. I’ll also cover important details many reviews skip – like hidden fees and approval odds – to help you make an informed choice.
If you’re wondering whether American Express is a smart choice overall, start here:
Let’s take a closer look at what the Amex Cobalt offers – and whether it fits your lifestyle and goals.
Cobalt Card Details: What You Need to Know
The American Express Cobalt Card is a mid-tier credit card, built for Canadian consumers who want to earn serious points on everyday purchases. With flexible Membership Rewards points, strong category multipliers, and a monthly fee structure, it’s a top choice for those who want high value without a premium price tag.
Unlike other travel rewards cards, the Cobalt Card focuses on where most people actually spend – groceries, dining, streaming, gas, and transit. It’s especially popular with young professionals, frequent diners, and anyone who wants to rack up points fast.
| Monthly Fee | $12.99 CAD |
| Annual Cost | $155.88 CAD |
| Card Type | Credit Card (Plastic) |
| Card Issuer | American Express |
Related: How to Use Amex at Grocery Stores in Canada
Bonus Tip: How to Use Your Amex Card at Superstore
Apply now for the Cobalt Card and start earning 5x on eats!
Welcome Bonus: Earn up to 15,000 Points
The Amex Cobalt Card offers a monthly welcome bonus of up to 15,000 Membership Rewards points. You’ll earn 1,250 points each month when you spend $750 or more in that billing period, for the first 12 months.
This structure spreads the bonus out over time instead of offering a large upfront payout. While it’s ideal for those with consistent monthly spending, it may be less appealing if you’re looking to unlock a high-value bonus quickly.
| Bonus Total | 15,000 points (1,250/month) |
| Spend Requirement | $750 per month for 12 months |
| Estimated Value | $150 (at 1¢ per point) |
Missing a monthly target means missing that month’s bonus, with no option to catch up later. If you’re consistent with spending on food, groceries, and transit, this bonus is easy to earn.
Here’s a look at how the welcome bonus has changed over time:
Apply for the Amex Cobalt Card
Card Fees: What Does the Amex Cobalt Really Cost?
The Amex Cobalt Card has a monthly fee of $12.99, totalling $155.88 annually. While that’s on par with other mid-tier rewards cards, the monthly model offers flexibility if you’re not ready to commit to a full annual fee upfront.
| Monthly Fee | $12.99 CAD |
| Annual Equivalent | $155.88 CAD |
| Foreign Transaction Fee | 2.5% |
| Purchase Interest Rate | 21.99% |
| Cash Advance APR | 21.99% |
| Penalty APR | 25.99% – 28.99% Variable |
| Additional Card Fee | $0 |
There are no fees for adding additional cards, which is helpful if you’re sharing spending with a partner or family member.
However, like all Amex cards in Canada, a 2.5% foreign transaction fee applies on purchases made in non-Canadian currencies. This is a common blind spot for travellers.
Card Benefits & Insurance
The Amex Cobalt Card comes with strong travel and shopping insurance, exclusive experiences, and flexible rewards redemption options – making it one of the best mid-tier cards in Canada.
Travel & Shopping Insurance Highlights
- $5 million emergency medical coverage (up to 15 days, under age 65)
- Flight & baggage delay insurance – up to $500 for meals, hotels, and essentials
- Lost or stolen baggage – up to $500 per trip
- Car rental coverage for vehicles up to $85,000
- Mobile device insurance – up to $1,000
- Extended warranty & purchase protection
Everyday Perks
- Amex Offers – rotating deals on shopping, dining, and more
- Front of the Line access to concerts and events
- Exclusive Access at select Canadian venues
- Hotel Collection benefits like late checkout and $100 USD credit
Want the full list of perks? Read our deep dive:
Amex Cobalt Card Benefits in Canada
Reward Rates: Maximize Points on Your Everyday Spending
The Amex Cobalt Card is built around real life spending. With strong earn rates on food, transit, and streaming, it’s one of the best options in Canada if you want to rack up points fast on everyday purchases. You’ll earn Membership Rewards points, which can be incredibly valuable when used the right way.
| Category | Points per $1 | Monthly Cap |
| Food & Drinks | 5x | $2,500 (then 1x) |
| Streaming Services | 3x | No stated cap |
| Gas & Transit | 2x | No stated cap |
| Everything Else | 1x | Unlimited |
Each category includes detailed rules on what qualifies, so we’ve broken those down here:
If your monthly grocery or dining bill is over $2,500, consider pairing the Cobalt with another Amex card to keep earning at higher rates.
Referral Bonuses: Earn 5,000 Points Per Approved Friend
The Amex Cobalt Card makes it easy to earn extra Membership Rewards points through referrals. As a cardholder, you can earn 5,000 points each time someone applies through your referral link and is approved.
You can refer up to 15 people per year, allowing you to earn up to 75,000 points annually – a value of about $750 if redeemed at 1 cent per point.
| Points per Referral | 5,000 points |
| Annual Limit | 75,000 points (15 referrals) |
| Estimated Value | Up to $750 |
Your referee will receive the standard welcome bonus (15,000 points over 12 months) when they meet the spend requirement, so everyone wins.
Once you’re approved, you’ll get access to your personalized referral link through your Amex online account. This is a powerful way to boost your points without extra spending.
Apply for the Amex Cobalt Card
Redemption Power: Unlock Maximum Value From Your Points
The Amex Cobalt earns Membership Rewards points, one of the most valuable and flexible loyalty currencies in Canada. While you can redeem points for gift cards, statement credits, or Amazon purchases, the best value by far comes from transferring points to airline and hotel partners.
Top transfer partners include Aeroplan, Avios (British Airways/Iberia), Marriott Bonvoy, and Hilton Honors. Most transfers to Aeroplan and Avios are instant, while Marriott Bonvoy can take up to 48 hours.
Here’s where you really start to see the value:
- Vancouver to Toronto, round-trip in economy with Aeroplan = around 25,000 MR points, often worth $500+ in cash fares (a solid redemption value of 1.8 to 2.4 cents per point!)
- Toronto to New York, round-trip in business class with Aeroplan = ~20,000 MR points.
- Vancouver to Tokyo in ANA business class via Avios (partner booking through British Airways) = around 75,000 MR points.
- 7-night hotel stay in Montreal using Marriott Bonvoy (transfer 60,000 MR = around 72,000 Bonvoy points).
- Last-minute domestic flights that would otherwise cost $700+ can often be booked for 10,000–20,000 Aeroplan points.
Each of these redemptions can offer 2–5 cents per point in value – far exceeding the standard 1 cent per point baseline.
Explore more options:
Best Ways to Use Membership Rewards in Canada
Hidden Costs to Consider
While the Amex Cobalt Card offers exceptional earning potential, there are a few costs and limitations worth knowing upfront.
1. 2.5% Foreign Transaction Fee
Despite being positioned as a great travel card, the Cobalt still charges a 2.5% fee on purchases in non-Canadian currencies. If you travel often or shop online from U.S. retailers, these fees can add up quickly. This is one area where it falls short compared to some no-FX-fee cards in Canada.
2. Limited Acceptance
Although Amex acceptance is growing, some independent shops, contractors, and even big box stores still don’t take it. It’s smart to carry a Visa or Mastercard as a backup, especially for property tax payments, utility bills, or smaller local markets where Amex still isn’t accepted.
See Where to use Amex Cobalt Card to Earn 5x Points
3. No Airport Lounge Access
Unlike the Platinum or Aeroplan Reserve cards, the Cobalt doesn’t offer lounge access – even for a fee. If that’s a must-have perk for you, this might not be the right primary card.
That said, for daily spending and flexible rewards, the value still outweighs these limitations for most cardholders.
Approval Odds: Is It Hard to Get Approved for the Cobalt Card?
The Amex Cobalt is one of the more accessible rewards cards in Canada. While American Express doesn’t publish exact requirements, approval typically favours applicants with a credit score of 670 or higher and a stable personal income.
Most successful applicants fall into the $35,000 to $70,000 annual income range – whether salaried, self-employed, or gig workers with reliable earnings. You’ll also need to be the age of majority in your province or territory.
| Suggested Credit Score | 670+ (Good) |
| Income Guidance | $35,000–$70,000 (stable income) |
| Age Requirement | Age of majority |
Good credit history and a few years of credit activity help, but even newer credit profiles have success, especially with no history of missed payments or high utilization.
Conclusion: Is the Amex Cobalt Right for You?
The Amex Cobalt Card offers an impressive mix of value, flexibility, and everyday earning potential. With up to 15,000 points in your first year, generous multipliers on essential spending, and access to exclusive Amex perks, it continues to stand out in Canada’s competitive credit card market.
That said, it’s not perfect. The 2.5% foreign transaction fee, limited acceptance in some areas, and lack of premium perks like lounge access might make it a secondary card for some.
So, is it the best choice for you?
If you spend consistently on food, transit, and streaming, want to earn flexible travel points, and prefer monthly fees over upfront annual costs, the Cobalt Card delivers excellent long-term value.
Still comparing Amex Cards? Check out:
- Amex Gold vs. Amex Cobalt
- Amex SimplyCash vs. Amex Cobalt
- Is the Amex Cobalt Card Worth It in Canada?
Ready to earn 5x points on your everyday spending?
Apply for the Amex Cobalt Card now!
Frequently Asked Questions
Is the Amex Cobalt Card worth it in Canada?
Yes, if you spend regularly on food, groceries, streaming, and transit, the Cobalt Card offers excellent long-term value. It earns flexible Membership Rewards points and comes with strong insurance and perks for a mid-tier fee.
What is the income requirement for the Amex Cobalt Card?
American Express doesn’t publish an official income requirement, but most approved applicants report earning between $35,000 and $70,000 per year with a good credit score (670+).
Can I use the Amex Cobalt Card at Costco or Walmart?
Costco only accepts Mastercard in-store, so the Amex Cobalt won’t work there. Walmart accepts Amex online but not in-store at all locations. You can use your Cobalt Card at most major grocery stores and online food retailers in Canada.
How many points do you need to fly from Vancouver to Toronto with Amex points?
A round-trip economy flight booked through Aeroplan typically costs around 25,000 Membership Rewards points (transferred 1:1). This is one of the best redemptions for domestic travel in Canada.
Apply now for the Cobalt Card and start earning 5x on eats!
