Canada’s Amex Rewards Guide

5 x Earn up to 15,000 bonus points with the Amex Cobalt Card

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Earn 15,000 bonus points with the Amex Cobalt Card

Apply Now!
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Home » Card Reviews » Amex Card Reviews » Review: Unlock 5x Rewards with the Cobalt Card: Food, Travel & More

Review: Unlock 5x Rewards with the Cobalt Card: Food, Travel & More

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Britt Phoenix
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Cobalt Card card image
Apply for the Cobalt Card

Instant decision available with no impact to your credit score.

Cobalt Card At a Glance

Best choice for: Food & Everyday Spending

Welcome Bonus
Up to 15,000 points
Top Earn Rate
5x on food & drinks
Points Currency
Amex Membership Rewards points
Annual Fee
$15.99/month
$15.99/month - equals $191.88/year.
Quebec residents are billed $191.88 annually.
Target Market
Consumer
Card Style
Plastic
Card Type
Credit Card

Quick Verdict

The Amex Cobalt Card is one of the strongest everyday earners in Canada, especially if you spend heavily on groceries and dining. The monthly fee is manageable, and the points can add up fast when you use the bonus categories properly. If you want flexible travel rewards without paying premium card fees, this is an easy yes.

Who It’s For

  • Frequent grocery and dining spenders
  • Aeroplan travellers looking to earn fast
  • Fans of flexible travel rewards
  • Households maximizing everyday bonus categories

How to Get Approved for the Cobalt Card

Approval Difficulty

720+ (Good)

recommended credit score

Canada Credit Card Approval - Standard Approval, Recommended 720+ (Good) Credit Score

Standard Approval

Based on typical approval patterns in Canada.
Approval is not guaranteed.

How to get approved for an Amex card in Canada.

Requirements

  • Age of majority: Canadian resident, age 18 or 19+ depending on your province/territory
  • Credit history: 6+ months minimum credit history of low utilization and on-time payments
  • Income requirement: None publicly specified
  • Approval speed: Often instant with Amex Apply With Confidence
Apply Now

Instant decision available with no impact to your credit score.

Cobalt Card Welcome Bonus Tracker

Track how today’s credit card welcome bonus compares against past offers, so you can apply with confidence.

PointsWise Welcome Bonus Tracker - Tracking Credit Card Welcome Bonuses in Canada

Current Welcome Bonus

15,000

Amex Membership Rewards points

You can earn up to 15,000 Membership Rewards points: 1,250 points per month for 12 months after spending $750 monthly.

Estimated Value

$150

at 1¢ per point

Cobalt Card card image
Apply Now

Instant decision available with no impact to your credit score.

Low-End Typical Offer

This offer sits at the lower end of its typical range.

The current Amex Cobalt welcome bonus is low compared to past peaks, but it has also been the standard public offer for more than 2.5 years.

If the 5x food and drinks earn rate fits your spending, the card can still be worth applying for based on its long-term earning potential, not just the upfront bonus.

Current offer since Nov 2023
Historical high 50,000 points
Last change Down 15,000 points

Where The Cobalt Card Welcome Bonus Sits Historically

This range compares the current public bonus against the lowest, typical, and highest offers PointsWise has tracked for the Cobalt Card.

Historical Low 15,000 points
Typical Range 15,000 - 30,000 points
Historical High 50,000 points
15,000 points Current Offer

History available since 2019

Updated Jun 18, 2026

Cobalt Card Welcome Bonus History

See how the Cobalt Card welcome bonus has changed over time, including confirmed snapshots when the public offer stayed the same.

Welcome Bonus Events - Card Reviews v1

Offer snapshots indicate dates when the public welcome bonus was confirmed unchanged.

Why it matters

Credit card welcome bonuses change often. This tracker helps you compare today’s offer against past public offers before you apply.

Compare before you apply.

See whether today’s welcome bonus is low, typical, or unusually strong for this card.

Decide whether waiting to apply makes sense.

A past high offer is useful context, but it may not return soon.

Understand offer snapshots

Snapshot bars show when a public bonus was confirmed unchanged, not when a new offer launched.

Ready to Apply or Compare Offers?

Apply with confidence.

Cobalt Card card image
Apply for the Cobalt Card

Instant decision available with no impact to your credit score.

Amex Welcome Bonus History Tracker in Canada Since 2019
Compare welcome bonuses

View and compare offers across all cards.

Amex Cobalt Card Earn Rates

5x
food & drinks

Earn 5 points per $1 on dining, groceries, and food delivery services in Canada, up to $2,500 in combined monthly purchases. After reaching this cap, earn 1 point per $1. The cap resets on the 1st of each month.

3x
streaming services

Earn 3 points per $1 on eligible streaming subscriptions at select Canadian providers. Bundled services, third-party billing, or merchants not on the list do not qualify.

2x
gas, transit & ride sharing

Earn 2 points per $1 on stand-alone gas stations and local commuter transportation in Canada, including subway, taxis, and ride-sharing services. General merchandise retailers do not qualify.

1x
everything else

Earn 1 point per $1 on all other eligible purchases.

Amex Membership Rewards Points

The value of your points depends on how you use them. Here’s what you can realistically expect.

How to Redeem Amex Membership Rewards Points

Transfer to Aeroplan
Transfer Amex Membership Rewards to Aeroplan for flights. This is where you’ll get the most value.
Use Fixed Points Travel
Book through Amex Fixed Points Travel for predictable value, especially for economy flights or last-minute bookings.
Keep Points Flexible
Hold onto your points until you’re ready. MR points don’t expire as long as your account stays active.
Use Statement Credits
Redeem for statement credits strategically, but know their value will be capped at 1¢ per point.
View the Amex Membership Rewards Guide

Amex Membership Rewards Value

Typical Value (When Used Well)

1.5¢ - 2.5¢ per point

Best Use

Transfer Amex MR to Aeroplan to use for Air Canada and partner flights.

Example

60,000 MR > 60,000 Aeroplan points (1:1 transfer)> $1,200 flight (cash price)= 2¢ per point

High-Value Potential

3¢+ per point For premium cabin redemptions on long-haul international flights.

Quick Insight

Think of MR points as a flexible travel currency. Their value increases when flight prices are high and decreases when prices are low.

Cobalt Card Benefits

A closer look at the benefits, travel rewards, and everyday extras that come with the Cobalt Card.

14 total benefits

Featured Benefits

Transfer Your Points to Travel Partners

Transfer points to frequent flyer and hotel programs, including Aeroplan, Avios, Marriott and Hilton, offering flexibility and value for travel enthusiasts.

Apply Points to Travel Purchases

With Flexible Points Travel, redeem points for virtually any travel expense, giving you endless choices for your next adventure. 1,000 points = $10 statement credit.

Amex Fixed Points Travel

Use your points to book flights through the Fixed Points Travel program and simplify your travel planning with Amex's straightforward, high-value options. Round-trip flights start at 15,000 points.

Hotel Collection Benefits

Enjoy hotel perks such as room upgrades (when available), 12pm check-in, late check-out (when available), and up to $100 USD credit for amenities on stays of 2 or more nights through The Hotel Collection from American Express Travel.

Amex Offers

Save on everyday purchases with Amex Offers and enjoy exclusive discounts and rewards at your favourite stores, restaurants, and online shops. New offers are always being added, so be sure to check your account regularly.

Explore All Benefits

Travel Benefits1 benefit

Hotel Collection Benefits

Enjoy hotel perks such as room upgrades (when available), 12pm check-in, late check-out (when available), and up to $100 USD credit for amenities on stays of 2 or more nights through The Hotel Collection from American Express Travel.

Redemption Options9 benefits

Transfer Your Points to Travel Partners

Transfer points to frequent flyer and hotel programs, including Aeroplan, Avios, Marriott and Hilton, offering flexibility and value for travel enthusiasts.

Apply Points to Travel Purchases

With Flexible Points Travel, redeem points for virtually any travel expense, giving you endless choices for your next adventure. 1,000 points = $10 statement credit.

Amex Fixed Points Travel

Use your points to book flights through the Fixed Points Travel program and simplify your travel planning with Amex's straightforward, high-value options. Round-trip flights start at 15,000 points.

Redeem Points for Statement Credits

Convert your points into statement credits to cover eligible charges, giving you real-time rewards and financial flexibility. 1,000 points = $10 credit.

Membership Rewards Shopping

Use Membership Rewards points to shop for merchandise, electronics, home goods, and other eligible rewards through the Membership Rewards shopping catalogue.

Redeem Points for Gift Cards

With Membership Rewards points, enjoy gift cards to popular retailers or American Express Prepaid Gift Cards, turning points into flexible everyday value.

Shop with Points on Amazon

Use your Membership Rewards points to cover part or all of your purchases on Amazon, turning everyday shopping into rewarding experiences. 1,000 points = $7 credit.

Use Points at Checkout with PayPal

Use your points to cover purchases big or small wherever PayPal is accepted. 1,000 points = $7 credit.

Donate Your Points to Charity

Use points to contribute to a variety of charities, helping make the world a better place with the rewards you've earned. 1,000 points = $10 credit.

Amex Experiences3 benefits

Front of the Line Presale Access

Enjoy exclusive early access to presale tickets with Front of the Line access and get your seats to the hottest concerts, shows, and events before the general public.

Exclusive Access

Make every night out unforgettable and breeze through dedicated entrances at the Budweiser Stage, relax in premium lounges, and enjoy priority service at top venues like Massey Hall and Mirvish Theatres.

Amex Experiences

Cardmembers get access to a variety of special offers created just for American Express. From advance screenings of blockbuster movies, to weekend getaway packages and special online and in-store shopping deals, it's never been easier to have an experience you'll never forget.

Member Extras1 benefit

Amex Offers

Save on everyday purchases with Amex Offers and enjoy exclusive discounts and rewards at your favourite stores, restaurants, and online shops. New offers are always being added, so be sure to check your account regularly.

Cobalt Card Insurance Coverage

Here’s a closer look at the insurance coverage included with the Cobalt Card, including travel, purchase, rental car, mobile device, and other protections where applicable.

Coverage amounts, eligibility, and exclusions vary by card. Always review the certificate of insurance before relying on a benefit.

Travel Insurance

6 coverages

Purchase & Warranty Coverage

2 coverages

Rental Car Coverage

1 coverage

Mobile Device Coverage

1 coverage

Explore Insurance Coverage

Travel Insurance6 coverages

Emergency Medical Insurance

Stay protected with up to $5,000,000 in emergency medical coverage for eligible expenses when travelling outside your province or country. Coverage applies for the first 15 days of each trip (for insured persons under 65).

Up to $5,000,000

Flight Delay Insurance

Receive up to $500 for essential expenses like hotels, meals, and personal items when your flight is delayed or boarding is denied for 4+ hours, with no alternate transport available (combined with Baggage Delay Insurance).

Up to $500

Baggage Delay Insurance

Get up to $500 for essential clothing and items when your checked baggage is delayed by 6+ hours on your outbound flight (combined with Flight Delay Insurance). Coverage applies to emergency purchases made within four days.

Up to $500

Lost or Stolen Baggage Insurance

Protect your belongings with coverage of up to $500 per trip for lost or damaged checked and carry-on baggage when you charge your airline tickets to your card.

Up to $500

Hotel Burglary Insurance

Get up to $500 coverage for personal items lost due to hotel room burglary when you fully book and pay for your stay with your card (excludes cash).

Up to $500

Travel Accident Insurance

Provides up to $250,000 in Accidental Death and Dismemberment insurance when you charge your fare on a common carrier to your card. Coverage extends to you, your spouse, dependent children under 23, and even supplementary cardholders and their families.

Up to $250,000
Purchase & Warranty Coverage2 coverages

Automatic Purchase Protection

Get 90 days of automatic protection, covering up to $1,000 per incident for eligible purchases with coverage for accidental damage or theft, even if other insurance doesn't apply.

Up to $1,000

Extended Warranty with Buyer's Assurance Protection Plan

Doubles the original manufacturer's warranty by up to two additional years on eligible purchases made with your card. Coverage is valid in Canada and the U.S., with protection up to $10,000 per item and $25,000 annually.

Up to $25,000 annually
Rental Car Coverage1 coverage

Car Rental Theft and Damage Insurance

Provides automatic coverage for car rental theft and damage when you charge your rental to your card and decline the rental company's insurance. With protection for vehicles valued up to $85,000.

Up to $85,000
Mobile Device Coverage1 coverage

Mobile Device Insurance

Provides up to $1,000 in coverage for theft, loss, or accidental damage on eligible mobile devices worldwide when you fully charge or finance the purchase with your card. Coverage begins after 90 days and lasts up to 2 years from purchase.

Up to $1,000

Cobalt Card Fees & Rates

A quick look at the Cobalt Card's annual fee, interest rates, and other common charges.

Annual Fee

$15.99 /month

Equals $191.88/year.
Quebec residents are billed $191.88 annually.

Foreign Transaction Fee

2.50%

Applies to purchases in non-Canadian currencies.

Purchase Interest

21.99%

Applies when you carry a balance on purchases.

Cash Advance Rate

21.99%

Applies to cash advances and certain non-purchase transactions.

Detailed Fee Breakdown

Annual Fee
$15.99/month - equals $191.88/year.
Quebec residents are billed $191.88 annually.
Foreign Transaction Fee
2.50%
Purchase Interest
21.99%
Cash Advance Rate
21.99%
Full Benefits Additional Card Fee
$0
Penalty APR
25.99% - 29.99% Variable
Balance Transfer Rate
N/A
Intro Balance Transfer Rate
N/A
The Cobalt Card is billed monthly instead of charging one large annual fee upfront. Quebec residents follow different pricing rules.

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Instant decision available with no impact to your credit score.

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PointsWise - AMEX Card Travel Tips for Canadians

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Compare offers, track welcome bonus trends, and use proven strategies to earn more rewards on everyday spending and travel.

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Cobalt Card
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Earn up to 15,000 points.
Instant decision available with no impact to your credit score.
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