American Express
Get up to 5x points per $1, a flexible redemption system, and one of Canada’s best rewards cards. Annual fee: $155.88–$191.88. Credit score of 725+ suggested.
About the American Express Cobalt® Card
The American Express Cobalt® Card is regarded as one of Canada’s top rewards credit cards. It caters to those seeking high returns on everyday spending.
The card features a points-based rewards program, earning 5x Membership Rewards points on food and drinks, 3x on streaming, and 2x on transit and gas purchases.
The annual fee ranges from $155.88 to $191.88, charged monthly, depending on your province of residence. There is no listed income minimum, but a good-to-excellent credit score (725+) is expected.
The interest rate is 21.99% on purchases and cash advances. Cardholders can earn up to 15,000 points in the first year as a welcome bonus by meeting monthly spending requirements.
The card is ideal for those who want flexible redemption options including travel, statement credits, and partner program transfers.
Come candidarsi – Passo dopo passo
Applying for the American Express Cobalt® Card is quick and can be completed online in minutes. Gather your personal information including contact details and income sources.
Visit the official application page and select the Cobalt® Card. Complete the secure form, providing all necessary details accurately.
Review the terms, conditions, and fee schedule. Consent to a credit check, as approval depends on your credit history and score.
Once submitted, you’ll often receive a decision instantly. If approved, your new card will be mailed to your address.
Activate your card upon arrival, and start earning points from your first purchase.
Pros of the American Express Cobalt® Card
The Cobalt® Card stands out for its exceptional earn rates: 5 points per $1 at restaurants, grocery stores, and food delivery, making it lucrative for everyday spending.
Flexibility is a major edge. Points can be transferred to valuable travel partners like Aeroplan and Marriott Bonvoy or redeemed as statement credits, gift cards, and more.
Contro da considerare
A key drawback is the card’s acceptance – American Express isn’t as widely accepted in Canada as Visa or Mastercard, which may limit use at some merchants.
The monthly fee (totalling $155.88–$191.88 annually) is higher than some comparable rewards cards, so it’s best for moderate to heavy spenders.
Il nostro verdetto
For those prioritizing high rewards on dining, groceries, and flexible redemptions, the American Express Cobalt® Card offers outstanding long-term value. The combination of lucrative earning rates and versatile point usage is hard to match.
However, take into account the acceptance network and ensure your spending habits fit the bonus categories. Overall, it’s a well-rounded pick for reward maximizers in Canada.
