Amex Cobalt Card Benefits in Canada

The American Express Cobalt Card has a strong reputation as a high earning rewards card in Canada thanks to its earning potential of 5x the points on food. If you’re a foodie and a casual traveller, this is the card for you. Earn 5x the points at grocery stores, restaurants and on food delivery services like DoorDash, Skip the Dishes, and Uber Eats.

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Earn Up to 5x the Points

Here’s how you’ll earn points:

• 5x Points on Eats and Drinks: Restaurants, bars, grocery stores and food delivery services will all earn you 5x the points. There is a $2,500 monthly spend cap for this points category. After the spend cap has been reached, you’ll earn 1x the points on eats and drinks.
• 3x Points on Streaming Subscriptions: Reward yourself for entertainment with popular streaming services.
• 2x Points on Travel and Transit: Earn rewards on your travel expenses, from gas stations and Uber rides to flights and hotels.
• 1x Points on Everything Else: Earn points on all other purchases, ensuring rewards on every spend.

If you spend $500 per month on food, you’ll earn $25 back in Amex points. That adds up to an extra $300 annually, simply for grocery purchases.

Bonus: How to Earn 5x the Points on Gas with Amex Cobalt in Canada

Earn a Welcome Bonus 

New cardmembers can earn up to 15,000 Membership Rewards points within the first year. By spending $750 per month, you’ll earn 1,250 points per billing cycle. That’s a cash value of $150, nearly offsetting the annual fee for your first year.

Enjoy Flexible Ways to Redeem Your Points

A huge benefit of being a Cobalt cardmember is having flexibility when you redeem points. Here are all the ways you can redeem points with Amex:

Transfer Points to Partner Loyalty Programs

Transfer your Amex Membership Rewards (MR) points to your favourite loyalty programs for maximum value and take advantage of promotions and status-earning opportunities.

Airline Loyalty Programs:

• Aeroplan (Air Canada): 1000 MR points = 1000 Aeroplan points
• Air France KLM Flying Blue: 1000 MR points = 750 Flying Blue Miles
• Asia Miles: 1000 Membership Rewards points = 750 Asia Miles
• British Airways Executive Club (Alaska Airlines): 1000 Membership Rewards points = 1000 Avios
• Delta SkyMiles: 1000 Membership Rewards points = 750 SkyMiles
• Etihad Guest: 1000 Membership Rewards points = 750 Etihad Guest miles

Hotel Loyalty Programs:

• Hilton Honors: 1000 Membership Rewards points = 1000 Hilton Honors points
• Marriott Bonvoy: 5 Membership Rewards points = 6 Marriott Bonvoy points

Statement Credit

To redeem your Cobalt points for a statement credit, simply login to your Amex Online Services account and select the card purchases for which you’d like to redeem points for. A statement credit will be applied to your account within 48 hours. Amex points are valued at a base value of $0.01 per point, so 10,000 points = $100.

Fixed Points Travel Program

Perfect for straightforward redemptions. Round-trip airfares start from 15,000 Amex points.

Choose a flight category—Canada/U.S., Europe, or Worldwide—to see the fixed points required for a maximum base ticket, making last-minute bookings easy.

Select between Economy and Business class to see where the Fixed Points Travel Program can take you.

Flexible Points Travel Program

Use American Express Travel to book your next flight, hotel, or car rental and pay with Amex points, or a combination of points and cash.

Caution! While using American Express Travel is an option, consider booking directly with your preferred hotel, airline, or car rental company to earn loyalty status. Then, use points to pay off your credit card statement. American Express Travel is considered a third party, which may prevent you from receiving all the perks typically offered through loyalty programs.

Merchandise

Buy general merchandise with your Amex points through the shopping portal.

Gift Cards

Redeem points for gift cards from popular retailers.

Amazon Shop with Points

Link your Membership Rewards account to your Amazon.ca account, choose your linked American Express Card as your payment method and Amazon will give you the option to pay with points at checkout.

Caution! Avoid redeeming your points through the “Amazon Shop with Points“, Gift Card, and Merchandise methods, which values points considerably lower than the standard 1 cent per point value when redeemed for a credit statement. 

For Amazon redemptions, purchase an Amazon gift card at a grocery store to earn 5x the points on that purchase, and then redeem those points as a statement credit.

Travel with Peace of Mind

The Cobalt card comes with travel insurance:

• Emergency Medical Insurance: Coverage for unforeseen medical expenses.
• Travel Accident Insurance: Protection against accidents during travel.
• Baggage and Flight Delay Insurance: Reimbursement for delays and lost baggage.
• Car Rental Insurance: Coverage for theft or damage to rental vehicles.
• Hotel/Motel Burglary Insurance: Coverage for theft from hotel rooms.

Get Access to Exclusive Perks 

As a Cobalt cardmember, you’ll enjoy:

• American Express Invites: Access to special events, dining experiences, and entertainment offers.
• Front of the Line Presale Access: Get priority ticket access to concerts and events.

Does the Cobalt Card Have Lounge Access?

No. The Amex Cobalt card does not come with airport lounge access.

If you want lounge access, consider these Cards instead:

• Platinum Card
• Business Platinum Card
• Gold Card
• Business Gold Card

Conclusion: Is the Amex Cobalt Card Right for You? 

The Amex Cobalt card stands out for its high rewards potential and flexible redemption options. 

However, it’s important to consider Amex acceptance rates at stores you shop at most, and the 2.5% foreign transaction fee.

While not primarily a travel rewards card, the Cobalt card benefits the casual traveller, because you can transfer your points to Aeroplan, Delta, Marriott, Hilton and other hotel and airline programs.

Bottom line: If you spend more than $500-$750 a month on food and gas, the Cobalt card is an easy choice providing a net win after the annual fee of $155.88 ($12.99 billed monthly). 

Learn More: Is it Hard to Get Approved for an Amex Cobalt Card in Canada?