The American Express Cobalt Card is one of the highest rated rewards cards on the market today. There is a reason it is one the best cashback credit cards in Canada. In fact, it has won multiple awards including the Simple Rate's Best Overall Credit Card award. Targeted for adventurers, foodies, and everyday spenders, the Amex Cobalt Card is a great option for those who enjoy experiencing culture through travel and dining, but also like to choose their spending wisely on-the-go and be rewarded for their purchases.

The Amex Cobalt Card offers up to 5x rewards on eligible dining purchases, including coffee shops and grocery stores. 2x rewards can be accrued on travel, lodging, and transit purchases within the program, including both Uber and Lyft purchases. Additionally, the card offers the traditional 1x reward point for each dollar spent on things that do not qualify for the special rewards. You can redeem your points for cash back.


Get up to 30,000 Membership Rewards points*
American Express Cobalt Card - Amex
  • Annual fee: $155.88
  • Interest rate on purchase: 20.99%
  • Interest rate on cash advances: 21.99%
Rewards & Perks:
  • 🍴 5x points on eats & drinks
  • 💻 3x points on streaming services
  • ✈️ 2x points on travel & transit
  • 💳 1x points on everything else
Offer: Up to 30,000 Membership Rewards points (average value of $300)
Get this offer
*Conditions Apply


The Amex Cobalt Card Welcome Offer

Currently, the Amex Cobalt Card offers new members up to 30,000 points. Actually, it is 2,500 points each month for a year. The only condition is that you spend a minimum of $500 CAN each month by the posting date. That translates to 30,000 points for $6,000 in purchases over the year. If you put everything on your card, you might have no problem fulfilling this criterion.

Room for teenagers and up to 9 authorized users

The Amex Cobalt Card is unique in the market when it comes to access. Additional cards have no annual fee. Plus, you have room to add up to 9 authorized users. The minimum age for an authorized user is 13 years old. If you have a big family, the Amex Cobalt Card has plenty of room for all of you. It makes spending the $6,000 minimum even easier.

Earning points and getting cash back with your Amex Cobalt Card

Amex, you know how to make people happy. No, it's true. It is very easy to earn points and rewards with the Amex Cobalt Card. Plus, you can exchange your points for cash back that you can apply to your account.

Earn 5x points on food

Earn 5x the points on eligible eats and drinks in Canada, including groceries and food delivery. You get 5 points per $1 spent at coffee shops, restaurants, grocery, or meal delivery. Holy guacamole, pun intended, you can spend up to $30,000 in this category per year. Unless my math is off, that adds up to 150,000 possible points just for eating. Once you exceed the $30,000 limit, the reward doesn't stop. It just drops to 1 point for every $1 in purchases.

Earn 3x the points for streaming

For streaming, you get 3x the points when you use your Amex Cobalt Card to pay for the following streaming services:

  • Apple TV+
  • Apple Music
  • Crave
  • Disney+
  • fuboTV
  • hayu
  • Netflix
  • RDS
  • SiriusXM Canada
  • Spotify
  • TSN

Just a note though: bundled services or in-car streaming does not count. Honestly, if Spotify Family Premium is $15.99 a month before taxes, that works out to $191.88 a year. If you use the Amex Cobalt Card to pay for it, it lands you at least 955 points. If you Disney or Netflix as well, then your rewards pile up even faster.

Amex Cobalt Card and fuel and transportation

Earn 2 points for every $1 spent on eligible transit & gas purchases in Canada and eligible travel purchases. That's 2X the points on purchases that get you from point A to B. The price of gas is climbing. If you pay with the Amex Cobalt Card, your points will outpace your spending. Plus, you earn the points when you purchase tickets for boats, trains, and, buses. You also earn 2x the points when you purchase the following from approved merchants.

  • air, water, rail and road transport
  • lodging and tour operator sales
  • local commuter transportation in Canada including subway, streetcar, taxi, limousine and ride sharing services

One last point perk to mention is that you can get an extra 1 point per $1 spent on travel through the American Express Travel website.

Amex Cobalt Card and travel insurance


I like the Amex Cobalt Card for its honesty. This is especially true for its travel insurance coverage. In its insurance documents, it makes it clear that the Card will pay up to $500 for certain claims. That is not a lot. Then you read further and it makes sense. The $500 is paid on top of any other insurance you already have. It makes sense to take out travel insurance yourself and use the Amex Cobalt Card as an extra level of protection.

Of course, when you pay for your travel with the American Express Cobalt Card, you get other perks. Your travel emergency medical coverage is good for 15 consecutive days of travel. You can do unlimited trips of 15 days in a year. The caveat is that you have to come home between them. You are covered up to $5,000,000 in eligible medical expenses. That is a perk.

Another perk that is in the fine print: rental cars. Other cards limit the Manufacturer's Suggested Retail Price (MSRP) of the rental car to $65,000. With your Amex Cobalt Card, that limit is $85,000. Your vacation car just got upgraded.

American Express Cobalt Card and product insurance

Most credit cards now offer extended warranty and purchase protection for goods paid for with the card. The Amex Cobalt Card has them too. They also cover mobile devices. They cover you up to 2 years after purchase but they do not insure used or refurbished devices. As usual, read the fine print.

Should you get the American Express Cobalt Card?

The answer, overall, is yes. The card has a lot of benefits, not the least of which is a near-limitless opportunity to earn points. Other cards might cap your monthly spend in certain categories. The Amex Cobalt Card doesn't. Plus, the card has room for 9 authorized users and an impressive reward system. What do the points actually get you?

At the time of writing, the points calculator on the Amex site was not working. If other sites are accurate, a travel point from Amex is $.015 to $0.02. Let's be conservative and use $0.015; that means that the 30,000 points Welcome Offer is $450. You have 5x the points on food. If you are like the average Canadian family and spend $13,000+ on groceries, you will have another 65,000 points. In one year, before eating in a restaurant, filling up on gas, buying a subway ticket or anything else, you have $1,475 in travel dollars.

Add to that, the travel insurance coverage is on the generous side as far as credit cards go. The Amex Cobalt Card also offers the standard fraud protection and purchase protection that you get with other cards.  and rental car insurance are convenient travel options to protect your active life so you don’t have to worry when you travel. American Express offers 24/7 customer service available to all cardholders. The customer service reps are professional, efficient, and helpful to the best of their abilities.

Benefits and Perks of the Amex Cobalt Card

  • You can use the card on and redeem points for merchandise
  • Early Access invitations for live concerts, promotional events, sports games, and many other experiences through Front of the Line by American Express
  • A mobile app that allows you to redeem points immediately for any of your eligible purchases. The mobile app allows you to enjoy simple and immediate savings on the go.
  • Travel insurance for your personal or business trips. American Express is well known for this feature, which offers protection in the event of unavoidable or unexpected circumstances in regards to your travel plans and/or travel accommodations.
  • The American Express Cobalt Card comes with the Amex Standard purchase protection, ensuring that all your purchases are secure while protecting your assets.
  • The Cobalt Card includes fraud protection to ensure that all of your purchases are truly your purchases. Any issues with fraudulent charges can be efficiently handled by calling American Express’s 24/7 customer service support
  • The Amex Cobalt Card offers rental car insurance. This perk offers protection in the event of theft, damages, or accidents, along with other service options
  • Annual fee of approximately $155.88 is broken down into a $12.99 monthly service charge
  • Add an additional card for your Cobalt Card at no cost
  • A competitive low APR of 20.99%

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