American Express
Earn up to 5x points in key categories and benefit from a flexible rewards program, a welcome bonus of up to 15,000 points, and valuable insurance protection, all for $15.99/month.
The American Express Cobalt Card delivers premium value for Canadians seeking rewarding everyday spending. With a $15.99 monthly fee (about $192 yearly), cardholders can access high earn rates: 5x points on groceries, restaurants, cafes, bars, and food delivery, 3x on streaming services, 2x on transit and gas, and 1x on all other purchases. There’s no minimum income requirement but you’ll want a strong (725+) credit score for approval. The card’s purchase interest rate is 21.99%, and you’ll benefit from extensive travel and purchase protections.
How to Apply for the American Express Cobalt Card
Applying is straightforward. Visit the provider’s online application page. Ensure you meet the minimum credit score. Complete the form with your personal and financial details.
Review your information and submit your application. American Express often provides a fast eligibility check with no credit score hit. Once approved, you’ll receive your card by mail.
Benefits: Why Choose this Card?
First, the Cobalt Card’s 5x points on food and drinks means you get rewarded where Canadians spend most. There’s no annual spending cap for base rewards, and points are flexible for travel, statement credits, or transfers to partners like Aeroplan.
Perks include emergency medical and rental car insurance, plus exclusive offers for concerts, events, and hotel benefits through Amex Experiences. The welcome bonus of up to 15,000 points gives your account a valuable head start.
Drawbacks to Consider
American Express has less acceptance in Canada compared to Visa and Mastercard, so it can’t be used everywhere. The $15.99 monthly fee is higher than some other Canadian cards, especially cash back or no-fee options.
Some travel coverage, like trip cancellation or insurance for those over 65, is limited. There’s also no complimentary airport lounge access, which may not suit frequent international travellers.
Verdict: Is the American Express Cobalt Worth It?
For Canadians who spend significantly on groceries, dining out, transit, and streaming, the American Express Cobalt Card offers strong value and plentiful rewards. The flexibility of points and broad insurance coverage make it a stand-out in its category.
However, if wide merchant acceptance or a lower fee is your priority, or you need extended travel insurance perks, you might want to compare with other top cards. Overall, the Cobalt Card is ideal for maximizing everyday rewards—perfect for savvy spenders who pay off their balance each month.
