Highlights
- 5x points on eligible dining and grocery spending in Canada
- 3x on select Canadian streaming services; 2x at standalone Canadian gas stations and on local and commuter transportation
- Useful travel, rental-car, purchase and mobile-device insurance
Issuer: American Express
Network: Amex
Card type: Credit card
Annual fee: $15.99 per month outside Quebec ($191.88 per year); $191.88 per year in Quebec; supplementary cards have no annual fee
Foreign transaction fee: Not disclosed by the bank in the audited official sources
The card earns American Express Membership Rewards® points, which can be valuable when transferred or redeemed well.
Related reading
🇨🇦 Canadian Amex Membership Rewards: A Complete Guide
Welcome offer
[Updated August 21, 2026] Up to 15,000 Membership Rewards® points:
- During the first year, earn 1,250 Membership Rewards® points when at least $750 in net purchases posts by the last day of each monthly billing period.
- There can be up to 12 qualifying billing periods, for a maximum of 15,000 points.
- A transaction posted after a billing period ends counts in the next period. A transaction posted after the twelfth billing period cannot qualify. The account must remain in good standing, and Amex says points may take up to eight weeks to appear.
- The offer is for new Cobalt Cardmembers only. Current or former Cobalt Cardmembers may be approved but are not eligible for this welcome offer during the first 12 months. The offer may change at any time.
Eligibility: You must be a Canadian resident with a Canadian credit file and have reached the age of majority in your province or territory. American Express may apply other approval criteria.
Apply through the referral link 🔗 (This partner link supports the blog.)
Past welcome offers
[Updated April 1, 2025] 22,000 points:
- Earn 1,250 points each month after $750 in purchases during the first 12 months, for 15,000 points
- Earn 7,000 points after $2,500 in purchases during the first three months
[Updated October 16, 2024] 24,000 points:
- Earn 1,250 points each month after $750 in purchases during the first 12 months, for 15,000 points
- Earn 9,000 points after $2,500 in purchases during the first three months
[Updated November 9, 2023] 15,000 points:
- Spend $750 each month and receive 1,250 points, for 15,000 points over one year
[Updated January 1, 2023] 30,000 points
Everyday earning
5x: Eligible purchases at restaurants, quick-service restaurants, cafés and bars in Canada; standalone grocery stores; and food or grocery delivery services where food delivery or groceries are the merchant’s primary business earn 5 Membership Rewards® points per $1. The category is capped at $2,500 in net posted purchases per month. Purchases above the cap earn 1x, and the cap resets on the first day of each month. Whether a merchant qualifies depends on its primary business and merchant category.
3x: Eligible streaming subscriptions from select Canadian providers earn 3 Membership Rewards® points per $1. Amex maintains the provider list and eligibility on its streaming-services page, so check the current list before relying on the category.
2x: Purchases at standalone Canadian gas stations and eligible local and commuter transportation in Canada earn 2 points per $1. This includes subways, streetcars, taxis, limousines and rideshare services. The qualifying category must be the merchant’s primary business.
2x: Eligible hotel and car-rental bookings made through American Express Travel where American Express Travel is the merchant earn 2 points per $1, made up of the regular 1x plus one additional point. The Hotel Collection does not receive the extra point.
1x: Other eligible purchases at American Express retail merchants earn 1 Membership Rewards® point per $1. This includes purchases not recognized in a bonus category, purchases made through an electronic wallet or third-party payment service, and transactions that are not paid directly to the goods or service provider. Returns and credits reduce points; interest, fees and cash-equivalent transactions do not earn points.
Benefits and insurance
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Supplementary cards
Supplementary cards have no annual fee. The authorized user must be at least 13, and the account can have up to nine supplementary Cardmembers. The account must remain in good standing.
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Amex Experiences™ and Amex Offers
Cardmembers may have access to select Front Of The Line® Amex Presale Tickets™, Amex Reserved Tickets™ and offers shown in the Amex App or Online Services. Availability, registration, payment method, eligible cards, minimum spending and deadlines vary by offer.
Travel insurance
Official insurance certificate 🔗
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Out of Province/Country Emergency Medical Insurance
Available to Canadian residents covered by a government health plan who travel outside their home province. Travellers aged 64 or under on departure are covered for the first 15 consecutive days, up to $5,000,000 CAD per insured person per trip. Pre-existing-condition stability, eligibility definitions and other insurance affect coverage. Contact Global Excel before emergency treatment when possible; otherwise you may be responsible for 20% of eligible expenses not paid by government insurance, up to $25,000.
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Flight and Baggage Delay & Hotel Burglary Insurance
The full ticket price must be charged to the Card, or qualifying Membership Rewards® points may be used with taxes charged as required by the certificate. A missed connection, a departure delay of at least four hours, or denied boarding with no alternative within four hours can qualify for reasonable living expenses. Outbound checked baggage delayed more than six hours can qualify for essential clothing and sundries purchased within four days. Flight and baggage delay share a $500 per-occurrence limit. Hotel accommodation must be paid in full with the Card; hotel burglary is covered up to $500 per occurrence.
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Lost or Stolen Baggage Insurance
When the full ticket price is charged to the Card, checked or carry-on baggage can be covered for loss, damage or theft during the air transportation period defined in the certificate. The limit is $500 per occurrence for all insured persons combined, including $300 for jewellery and $250 for golf clubs and bag. Electronics, cameras, cash and many other items are excluded.
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Travel Accident Insurance
The common-carrier fare must be charged to an American Express Card before the injury. Eligible accidental death or dismemberment is covered up to $250,000. The loss must occur within 100 days of the accident, and each insured person receives only the largest applicable benefit for an accident.
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Car Rental Theft and Damage Insurance
Charge the full rental to this Card, or pay with Membership Rewards® points with applicable taxes charged to the Card, and decline the rental company’s CDW. Eligible cars, SUVs and minivans must have an MSRP below $85,000 CAD excluding tax, and each rental can last no more than 48 consecutive days. There is no deductible, but third-party liability is not included.
This Card’s current certificate does not include Trip Cancellation or Trip Interruption Insurance.
Purchase insurance
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Buyer’s Assurance® Protection Plan
When the full price of an eligible new item is charged to the Card, an original free manufacturer’s warranty valid in Canada or the United States and lasting no more than five years can be extended by the length of the original warranty, up to one additional year. The limit is $10,000 per item and $25,000 per Cardmember per policy year. This is supplementary coverage; the certificate controls exclusions and claim deadlines.
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Purchase Protection® Plan
When at least part of an eligible new item’s price is charged to the Card, direct physical damage or theft within 90 days of purchase may be covered. The limit is $1,000 per Cardmember per occurrence, and gifts can qualify. Wear and tear, loss or mysterious disappearance, used or refurbished items, cash or gift cards and many other items are excluded. Follow the certificate’s reporting and documentation requirements.
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Mobile Device Insurance
A new eligible phone, smartphone, smartwatch or tablet can be covered for loss, theft or accidental damage when the full price is charged to the Card, or when a qualifying wireless-provider payment plan is used with the required upfront payment and all monthly payments charged to the Card. Cellular devices must be activated with a Canadian wireless provider. The benefit is the depreciated value less a 10% deductible, up to $1,000 per occurrence and per insured person. Across eligible Amex Bank of Canada cards, there is at most one claim in any 12 consecutive months and two claims in any 48 consecutive months. Coverage can last up to two years, subject to the certificate.
Our take
The Cobalt Card’s main strength is its high Membership Rewards® return on everyday dining, grocery and select streaming purchases, not a large one-time spending bonus. It suits people with steady spending in those categories who are willing to track the $2,500 monthly cap and merchant coding. If most of your spending falls elsewhere, or you are unsure how widely Amex is accepted at your usual merchants, check those real-world categories first. Review the insurance certificate for each trip based on the payment method, age, trip length and other conditions.
Other updates
[Updated August 23, 2025] The monthly fee increased from $12.99 to $15.99 starting in November 2025.
