American Express Cobalt^® Card

The American Express Cobalt® Card, often called the Amex Cobalt or the Cobalt card, turns groceries, restaurant meals and food delivery into Membership Rewards points. Its main strength is 5 points per dollar on eligible eats and drinks in Canada. You can use the points as statement credits or transfer them to partners such as Aeroplan.

How you earn points

• 5 points per dollar on eligible groceries, restaurants, bars and food delivery in Canada, on up to $2,500 in combined purchases per month, then 1 point per dollar;
• 3 points per dollar on eligible streaming subscriptions in Canada;
• 2 points per dollar on eligible gas, transit and ridesharing in Canada;
• 1 additional point on eligible hotel and car rental bookings made through American Express Travel Online;
• 1 point per dollar on everything else, including purchases outside Canada.

Welcome offer. In your first year as a new Cobalt Cardmember, you earn 1,250 Membership Rewards points for each monthly billing period in which you charge $750 in net purchases to the Card. That adds up to 15,000 points over 12 months. Current and former Cardmembers with this Card are not eligible.

What the Cobalt card costs. The fee is $15.99 per month ($191.88 per year) outside Quebec. Quebec residents pay $191.88 once a year. Additional cards have no annual fee. Purchases in a foreign currency carry a 2.5% conversion fee, so this is not the best card to carry abroad.

Travel insurance and other protections. The Cobalt card includes:

• emergency medical insurance outside your province or country, up to $5,000,000 for the first 15 days of a trip (under age 65);
• flight delay and baggage delay insurance, up to $500 combined;
• lost or stolen baggage insurance, up to $500 per trip;
• hotel burglary insurance, up to $500;
• travel accident insurance, up to $250,000;
• car rental theft and damage insurance, for vehicles with an MSRP up to $85,000 and rentals of 48 days or less;
• Purchase Protection (90 days, up to $1,000 per occurrence), Buyer’s Assurance (up to one extra year on the manufacturer’s warranty) and Mobile Device Insurance (up to $1,000, for up to 2 years).

Read your certificate of insurance for the exclusions. Our guide to Amex Cobalt insurance explains each coverage.

Other benefits. Eligible Cardmembers can earn up to $60 in Instacart statement credits within a 12-month period, until December 31, 2027. You also get access to Front Of The Line presale tickets and to The Hotel Collection benefits on stays of 2 or more consecutive nights.

Using your points. Points are worth 1,000 for $10 as a statement credit on eligible purchases. You can also transfer them 1:1 to airline and hotel partners. Our Membership Rewards guide lists the partners.

Who it suits. The Cobalt card fits households that spend a lot on food in Canada. If you spend more on travel, compare it with the Amex Gold Rewards Card or read our guide on moving from the Cobalt to the Gold. If you prefer a Visa Infinite card with cash back at partner merchants, see our Wealthsimple Visa Infinite review. To check which merchants earn 5X, see the list of eligible merchants, or browse our best Membership Rewards cards.