American Express
Earn up to 5x points on food, drinks, and streaming, and 2x on transit and gas. Flexible travel redemptions. $15.99 monthly fee. Superior rewards potential.
The American Express Cobalt Card is a top choice among Canadians seeking strong travel rewards and everyday spending benefits. With an interest rate of 20.99% and a flexible monthly fee of $15.99, this card offers substantial rewards when you spend in the right categories. Credit limits vary based on your profile and creditworthiness, with approval subject to standard eligibility checks. Cardholders can earn up to 5x the points on food and drinks, including groceries and restaurants, making it ideal for sociable spenders and frequent travellers alike.
How to Apply for the American Express Cobalt Card
- Go to the official American Express website and locate the Cobalt Card application.
- Fill in your personal and financial details as required.
- Submit documentation verifying your identity and income if prompted.
- Review all card terms, including the $15.99 monthly fee.
- Submit your application and await a response, typically received within moments.
Pros of the American Express Cobalt Card
First, the rewards structure is highly competitive. You earn accelerated points on everyday categories like food, drinks, and transit. This quickly adds up for most Canadians.
Second, the flexibility in redeeming your points is exceptional. You can redeem for travel with any provider, transfer to airline and hotel partners, or apply points towards everyday purchases.
Cons of the American Express Cobalt Card
One significant drawback is the monthly fee, which increased to $15.99 in 2025. Over a year, this surpasses many comparable annual fees.
Additionally, while American Express acceptance has grown across Canada, there are still retailers who do not accept this card, so your options may be limited in some locations.
Verdict: Is the American Express Cobalt Right for You?
The American Express Cobalt Card stands out for its generous rewards, flexibility in points redemption, and the ability to transfer to multiple airline and hotel partners. If you spend heavily in categories like food, streaming, and travel, the value quickly outweighs the monthly cost. However, consider your acceptance needs and comfort with a monthly fee. Overall, it’s an excellent card for savvy Canadian travellers and urbanites who want maximum flexibility from their rewards.
