Pros
- ✓Welcome Bonus: 15,000 points
- ✓Up to 5x on Restaurants
- ✓Purchase protection included
- ✓Travel medical insurance 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
Transit
2x
Gas
2x
Streaming
3x
Credit Card Rewards Calculator
See how much you could earn with this card based on your spending.
Points Earned
70,560
Amex Membership Rewards/yr
Estimated Value
$1,200
After Fees
+$1,008
1st Year Value
$1,263
incl. welcome bonus
Annual rewards breakdown
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.
FAQ
Where can I use the American Express Cobalt Card in Quebec or Canada?
You can use your American Express Cobalt® Card at grocery stores like Metro, Super C, Safeway, Whole Foods, your local Couche-tard or 7Eleven convenience store, your favorite gas station like Esso, Shell, Petro-Canada or any travel provider!
How many points can I earn on my American Express Cobalt Card purchases?
You can earn 1 point per dollar on all purchases with the American Express Cobalt® Card. And 5 points per dollar for groceries, restaurants and food delivery, and 2 points per dollar for transportation.
What is the American Express Cobaltᴹᴰ Card welcome offer?
The American Express Cobalt® Card offers up to 15,000 Membership Rewards points spread over the first 12 months, where you earn 1,250 points each month after making $750 in purchases on your card.
How can I use American Express Cobalt® Card Membership Rewards points?
Membership Rewards points can be used as credit towards everyday purchases or travel (1,000 points = $10), or transferred to loyalty programs such as Aeroplan, Avios, Flying Blue, Marriott Bonvoy or Hilton Honors.
How many points can I earn for every dollar I spend with the American Express Cobalt® Card?
You can earn between 1 and 5 points per dollar, depending on the category of purchase: 5 points for groceries, food delivery, restaurants, and convenience stores; 3 points for streaming services; 2 points for gas stations and transportation; and 1 point for all other purchases.
How can I get cash back with the American Express Cobalt® Card?
For example, if you spend $1,000 monthly in the grocery, restaurant and food delivery categories, you’ll earn $50 cash back per month, or $500 per year, thanks to 5 points per dollar in these categories.
Does the American Express Cobalt® Card offer travel insurance?
Yes, American Express Cobalt® Card offers various types of insurance, including rental car theft and damage, baggage delay, baggage loss or theft, flight delay, travel accident, hotel or motel burglary, Mobile Device Insurance, Purchase Protection and Purchase Protection Guarantee.
What is the minimum income required to obtain the American Express Cobalt® Card?
No minimum income is required to obtain the American Express Cobalt® Card.
How are points earned during the first year with the American Express Cobalt® Card?
In your first year, you can earn 1,250 Membership Rewards points every month you charge $750 in net purchases to your Card, for a total of up to 15,000 points in one year.
How can I use my American Express Cobalt® Card Membership Rewards points for travel?
Membership Rewards points earned with the American Express Cobalt® Card can cover American Express travel expenses by applying them directly as a credit on your travel purchases or by transferring them to partner loyalty programs.
How do I get the welcome bonus with the American Express Cobalt® Card?
To earn the welcome bonus with the American Express Cobalt® Card, you must make net purchases of $750 each month to receive 1,250 Membership Rewards points, up to 15,000 points during your first 12 months. Full program terms and conditions are available on the Amex Canada website.
How do net purchases affect point accumulation with the American Express Cobalt® Card?
Net purchases, meaning your purchases minus returns, made with the American Express Cobaltᵀᴹ Card are eligible to earn Membership Rewards points based on qualifying purchase categories, such as groceries or travel, and according to the loyalty program’s terms and conditions.
What advantages does the American Express Cobalt® Card offer when renting a car?
The American Express Cobalt® Card offers theft and damage insurance for rental cars. Terms of service and details of coverage and exclusions can be found in the card’s insurance guide.
Is the American Express Cobalt® Card available to US residents?
No, the American Express Cobalt® Card is specifically designed for residents of Canada. U.S. residents can explore other card options through the country’s Amex bank.
What are the annual fees for American Express Cobalt® Card, and are there any promotions for new cardholders?
The American Express Cobalt® Card has an annual fee of $191.88. Details of fees and promotions can be found in the terms of service and promotional offers on the Milesopedia or Amex Canada websites.
Does the American Express Cobalt® Card offer cash advance benefits?
Specific terms and conditions for cash advances with the American Express Cobalt® Card, including applicable fees and interest rates, can be found in the Card Services Guide on the American Express Canada website.
How are points earned during the monthly billing period with the American Express Cobalt® Card?
During each monthly billing period, American Express Cobalt® Cardmembers can earn 1,250 Membership Rewards points by charging $750 in net purchases to the card, earning up to 15,000 points in one year, according to program terms and conditions.
Can I use my American Express Cobalt® Card in the United States or anywhere else in the world?
Yes, you can use your American Express Cobalt® Card in the USA or anywhere else in the world. However, there will be a 2.5% conversion fee applied to your purchase.
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