American Express Cobalt Card: rewards on food and everyday spending
Designed for Canadians who spend regularly on food and everyday services, the American Express Cobalt® Card earns its highest rewards on eats and drinks, including groceries, restaurants and food delivery.
Instead of focusing on travel, the card rewards purchases many households already make, such as dining, groceries, streaming subscriptions, gas, transit and ride share.
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The American Express Cobalt Card earns Membership Rewards points, which you can redeem in several ways, from statement credits to travel bookings and transfers to partner loyalty programs.
Benefits of the American Express Cobalt
The American Express Cobalt credit card offers advantages aimed at frequent everyday spending.
Take a look at the main benefits of this product:
- Earn 5 points per $1 on eligible eats and drinks in Canada, including restaurants, bars, cafes, grocery stores and food delivery, on up to $2,500 in purchases per month. After that, these purchases earn 1 point per $1;
- Earn 3 points per $1 on eligible streaming subscriptions in Canada, 2 points per $1 on eligible gas, transit and ride share purchases in Canada, and 1 point per $1 on everything else;
- Redeem points for statement credits (1,000 points = $10), travel bookings, gift cards, merchandise or purchases at Amazon.ca, or transfer them 1:1 to several frequent flyer and loyalty programs, including Aeroplan;
- Get access to Front Of The Line® Amex Presale Tickets and Amex Reserved Tickets for concerts, theatre and special events;
- The card includes travel insurance, such as Out of Province/Country Emergency Medical Insurance of up to $5,000,000 for cardholders under age 65 (for the first 15 days of a trip), Flight Delay and Baggage Delay Insurance, and Car Rental Theft and Damage Insurance;
- It also includes Purchase Protection for 90 days, Buyer’s Assurance, which extends the manufacturer’s warranty by up to one year, and Mobile Device Insurance of up to $1,000;
- You can add up to 9 supplementary cards at no extra cost.
Insurance coverage is subject to the terms, limits and exclusions in the Certificate of Insurance provided with the card.
Disadvantages of the American Express Cobalt Card
The American Express Cobalt card has strong earn rates on everyday spending, but some limitations should be reviewed before applying.
- The card charges a $15.99 monthly fee ($191.88 per year) instead of a traditional annual fee. Quebec residents pay $191.88 once a year;
- The 5 points per $1 rate is limited to $2,500 in eligible purchases per month;
- A 21.99% interest rate applies to purchases and cash advances if you don’t pay your balance in full by the due date;
- Approval depends on American Express’s credit assessment;
- American Express is accepted at fewer merchants than Visa or Mastercard, especially at some smaller Canadian retailers.
Fees of the American Express Cobalt
The American Express Cobalt includes fees and rates that should be clearly understood before applying.
- Monthly fee: $15.99, which totals $191.88 per year. Quebec residents pay an annual fee of $191.88;
- Annual interest rate for purchases: 21.99%;
- Annual interest rate for cash advances: 21.99%;
- Supplementary cards: $0, with a maximum of 9 per account;
- Foreign currency conversion fee: 2.5% of the converted amount;
- Other fees, such as for dishonoured payments, may apply. See the Cardmember Agreement for details.
Rates and fees checked on September 22, 2026, against American Express Canada’s website. Confirm current terms on the American Express website before applying.
About the Issuing Bank
The American Express Cobalt Card is issued in Canada by Amex Bank of Canada, part of American Express, an international financial services company with more than a century of operations.
American Express offers credit and charge cards, travel services and the Membership Rewards program in many markets around the world.
In Canada, American Express customer service is available at 1-800-668-2639.
App features
The American Express App helps cardholders manage their account and rewards in one place.
The app includes the following features:
- Account Management: view your balance, recent transactions and statements;
- Rewards Monitoring: track your Membership Rewards points and use them to pay for eligible purchases;
- Bill Management: make payments to your account;
- Security Notifications: set up account alerts;
- Exclusive Benefits: see and add Amex Offers available to you.
Why apply for this card?
The American Express Cobalt is designed for Canadians who want to earn rewards on everyday purchases, especially food and drinks, rather than only on travel.
When redeemed as a statement credit, 1,000 points are worth $10, so the 5 points per $1 rate is worth about 5% on eligible eats and drinks. At that rate, you’d need to spend around $320 per month in these categories to offset the monthly fee.
The card also includes a broad insurance package for a card in its price range, and flexible redemption options, including transfers to partners like Aeroplan.
Before applying, review the monthly fee, the $2,500 monthly cap on the 5x rate, and the 21.99% interest rate to make sure the card fits your budget and payment habits.
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Legal Disclaimer: This website is independent and purely informational, and its content does not constitute financial advice. Finvyu is not affiliated with American Express. We do not guarantee credit approval or card issuance, which are subject solely to the risk analysis of Amex Bank of Canada. Finvyu Editorial Team.