Amex Cobalt Benefits: The Complete List
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The American Express Cobalt® Card remains the most discussed rewards card in Canada. Here are all the Amex Cobalt benefits, figure by figure.
The card costs $191.88 a year. In exchange, it pays up to 5 Membership Rewards points per dollar, a welcome bonus spread over 12 months, ten insurance coverages and access to eight transfer partners. Before you decide, compare it against the best credit cards available in Canada.
The Cobalt Card point multipliers
The American Express Cobalt® Card earns 5 Membership Rewards points per dollar at grocery stores, restaurants, bars, convenience stores and on food delivery in Canada. Three other tiers then apply, depending on the purchase category.
| Purchase category | Multiplier | Details |
|---|---|---|
| Groceries, restaurants, bars, convenience stores, food delivery | 5 points per dollar | In Canada, monthly spend cap applies |
| Streaming subscriptions | 3 points per dollar | Eligible subscriptions in Canada |
| Gas, public transit, ride sharing | 2 points per dollar | Eligible purchases in Canada |
| Hotel and car rental booked through American Express Travel Online | 1 additional point | Added on top of the base rate |
| Everything else | 1 point per dollar | No cap |
Since October 2024, travel purchases paid directly to the supplier earn 1 point per dollar. However, a hotel or car rental booked through American Express Travel Online earns 1 additional point. Moreover, the higher multipliers now apply only to merchants located in Canada.
The $2,500 monthly cap
The 5 points per dollar rate applies up to $2,500 in purchases per monthly billing period. Beyond that, American Express pays 1 point per dollar in the same category. Over twelve months, the cap therefore represents $30,000 in purchases at the top rate. Our article on the monthly cap for the 5X category explains the mechanics.
The monthly welcome bonus
The welcome bonus pays 1,250 Membership Rewards points for each monthly billing period in which you charge $750 in net purchases to the card. The total therefore reaches 15,000 Membership Rewards points after twelve periods.
Milesopedia values that bonus at $255. The calculation rests on $9,000 in purchases spread over a year, or $750 a month, and on a value of 1.7 cents per Membership Rewards point. Furthermore, those $9,000 also earn points at the regular multipliers, which stack on top of the bonus.
This structure rewards consistency rather than one large opening purchase. Indeed, each billing period counts on its own. A missed month can never be made up later.
Insurance included with the Cobalt Card
The American Express Cobalt® Card includes ten coverages, among them emergency medical insurance and mobile device insurance. Here is the summary of the amounts.
- Out-of-province or out-of-country emergency medical: up to $5,000,000, for 15 days, under age 65
- Car rental theft and damage: MSRP of up to $85,000
- Travel accident: $250,000
- Flight delay: up to $500, after 4 hours
- Misdirected baggage: up to $500, after 6 hours
- Lost or stolen baggage: up to $500
- Hotel or motel burglary: up to $500
- Mobile device: up to $1,000, for a device less than 2 years old
- Extended warranty: one additional year on the manufacturer’s warranty
- Buyer’s assurance: 90 days, up to $1,000 per occurrence
On the other hand, the card carries no trip cancellation insurance and no trip interruption insurance. Those two gaps matter for anyone who books packages in advance. So check our ranking of the best credit cards for travel insurance as well as the American Express Cobalt® Card profile, which lists the detailed conditions.
Membership Rewards point transfers
Membership Rewards points transfer to five airline programs and three hotel programs. Aeroplan, Flying Blue and British Airways all apply a 1 to 1 ratio.
| Program | 1,000 Membership Rewards points give | Processing time |
|---|---|---|
| Aeroplan | 1,000 points | 30 minutes |
| Air France KLM Flying Blue | 1,000 points | 3 days |
| British Airways Executive Club | 1,000 points | 3 to 5 days |
| Delta SkyMiles | 750 points | 30 minutes |
| Asia Miles | 750 points | 3 to 5 days |
| Marriott Bonvoy | 1,200 points | 5 days |
| Hilton Honors | 1,000 points | 5 days |
| ALL Accor Live Limitless | 500 points | Up to 48 hours |
Marriott Bonvoy posts the best gross ratio, at 1,200 points for every 1,000 Membership Rewards points. Milesopedia nonetheless values a Membership Rewards point at 1.7 cents across all redemption types. At that rate, the 15,000 points of the welcome bonus are indeed worth $255. Our American Express Membership Rewards program page breaks down all eight partners.
Amex Offers, Front Of The Line and Experiences
Three benefits without a dollar figure come with the card: Amex Offers, Front Of The Line® and Amex Experiences. None of them costs anything extra.
- Amex Offers: targeted offers you activate in your online account or in the app. They take the form of a statement credit, bonus points or a boosted earn rate.
- Front Of The Line® Amex Presale and Reserved Tickets: access to presale and reserved seats for selected concerts and theatre performances.
- Amex Experiences: special offers and events curated for Cardmembers.
The Hotel Collection
The card also opens access to The Hotel Collection from American Express Travel. For a stay of two or more consecutive nights, you get a room upgrade when available, a noon check-in, a late check-out and a credit of up to $100 USD. That credit applies to amenities charged to the room.
Summary table of Cobalt benefits
Here is every benefit of the card gathered into a single table.
| Benefit | Value | Condition |
|---|---|---|
| Eats and drinks multiplier | 5 points per dollar | Up to $2,500 per billing period |
| Streaming multiplier | 3 points per dollar | Eligible subscriptions in Canada |
| Transportation multiplier | 2 points per dollar | Gas, public transit, ride sharing |
| Welcome bonus | Up to 15,000 points | 1,250 points for each month with $750 in net purchases |
| Emergency medical insurance | $5,000,000 | 15 days, under age 65 |
| Mobile device insurance | $1,000 | Device less than 2 years old |
| Transfer partners | 8 programs | 5 airline and 3 hotel |
| The Hotel Collection | $100 USD credit | Stay of 2 consecutive nights |
| Annual fee | $191.88 | $15.99 per month outside Quebec |
| First supplementary card | $0 | No fee |
| Minimum income required | None | Instant decision available |
Our verdict on the Cobalt Card
The card pays back its $191.88 from roughly $235 in monthly food spending. The math stays simple: every dollar in the 5X category earns 4 points more than the base rate, worth 6.8 cents at 1.7 cents per point. You therefore need about $2,822 a year in that category to cover the fee.
Who gets their money back
- Households that eat well: groceries, restaurants, bars, convenience stores and delivery all share the same 5 points per dollar rate.
- Applicants without a high income: American Express asks for no minimum income on this card.
- Flexible points collectors: eight transfer partners, including Aeroplan at 1 to 1 in 30 minutes.
- Owners of a recent phone: the mobile device insurance covers up to $1,000.
- Tight monthly budgets: outside Quebec, the fee is billed at $15.99 a month rather than in one payment.
Who should look elsewhere
- Frequent travellers: the card carries no trip cancellation and no trip interruption insurance.
- Large grocery baskets: above $2,500 a month, the rate drops back to 1 point per dollar.
- Travel buyers: since October 2024, those purchases earn only 1 point per dollar.
- Small food budgets: below roughly $235 a month, the fee outweighs the value of the points earned.
- Airport lounge regulars: the card includes no lounge access at all.
If the travel profile fits you better, read our comparison between the Cobalt Card and the Gold Rewards Card. In addition, our ranking of the best American Express credit cards covers the full Canadian lineup. Finally, subscribe to our newsletter to follow every change to these offers.
American Express Cobalt® Card
The American Express Cobalt® Card is one of the best American Express credit cards, whether you want points for travel or cash back.
Welcome Offer for the American Express Cobalt® Card
The welcome bonus is paid out monthly over your first 12 months. You earn 1,250 Membership Rewards points for each monthly billing period in which you charge $750 in net purchases to your card, in any category (1X, 2X, 3X or 5X). That adds up to 15,000 Membership Rewards points over the year, a welcome offer we value at $255.
Earning the full bonus takes $9,000 in net purchases spread over 12 monthly billing periods. This offer therefore rewards steady monthly spending rather than one large purchase.
You can use these points as a statement credit for everyday purchases and travel purchases alike, at the same rate in both cases: 1,000 points = $10.
You can also transfer them to Aeroplan, Avios (British Airways and Qatar Airways), Flying Blue, Marriott Bonvoy or Hilton Honors. With the full welcome bonus, you could choose between:
- 15,000 Aeroplan points
- 15,000 Avios points
- 15,000 Flying Blue Miles
- 18,000 Marriott Bonvoy points
If hotel points are what interest you, our ultimate Marriott Bonvoy guide and our complete chart of Marriott Bonvoy hotels by category show what those points can really get you.
Benefits of the American Express Cobalt® Card
Here is what the card gives you, starting with the most-used benefits.
- 5X points on eligible food and drinks in Canada: groceries, restaurants and bars, food delivery and convenience stores. A spending cap applies.
- 3X points on eligible streaming subscriptions in Canada.
- 2X points on eligible gas, public transit and ride sharing in Canada.
- 1 additional point on eligible hotel and car rental bookings made through American Express Travel Online.
- 1X point per dollar on everything else, with no category restrictions.
- Points that keep the same value either way: 1,000 points = $10 in statement credit, or a 1:1 transfer to several airline and hotel loyalty programs.
- No minimum income required, as with all American Express Canada cards.
- Free supplementary cards: the first one and every one after it cost $0.
- The Hotel Collection: a room upgrade when available, check-in from noon and late check-out when available, and up to $100 USD in hotel credit on amenities charged to the room for a stay of at least two consecutive nights booked through American Express Travel.
- Amex Presale and Reserved Tickets with Front Of The Line® for concerts and theatre performances, plus offers and events reserved for cardholders through Amex Experiences.
- A credit pre-check with no impact: you can find out whether you would be approved before you apply, with no effect on your credit score. This applies to applications for personal American Express cards.
To see how it stacks up against the rest of the lineup, check out our comparison of the best American Express credit cards in Canada.
The 5X Categories and Where They Apply
The 5X rate is the reason most people hold this card. In Canada, it covers four types of merchants:
- Groceries: Metro, IGA, Sobeys, Super C, Safeway, Whole Foods.
- Restaurants and bars: dine-in meals, takeout and drinks.
- Food delivery.
- Convenience stores: Couche-Tard, 7-Eleven.
The 2X rate covers gas stations such as Esso, Shell and Petro-Canada, as well as public transit and ride sharing.
With the American Express Cobalt® Card, you earn between 1 and 5 points per dollar:
| Category | Points per dollar |
| Groceries (Metro, IGA, Sobeys, Super C, etc.) | 5 |
| Food delivery | 5 |
| Restaurants and bars | 5 |
| Convenience stores | 5 |
| Streaming services | 3 |
| Gas stations | 2 |
| Transit and ride sharing | 2 |
| Travel | 1 |
| Everything else | 1 |
That works out to a 1% to 5% return on these purchases. For example, if you spend $1,000 a month on groceries, restaurants and food delivery, you get $50 a month, or $600 a year from that category alone. If you transfer the points to a program such as Aeroplan instead, the return can be even higher.
You can also combine these categories with the hundreds of merchants that offer 5x points.
Insurance Coverage on the American Express Cobalt® Card
The card comes with a broad package of insurance coverage. The amounts below are coverage limits; conditions, age limits and exclusions are set out in the insurance certificate linked in the Insurance section above.
Travel Insurance
- Emergency medical care: up to $5,000,000 for the first 15 days of a trip.
- Travel accident: accidental death and dismemberment coverage of up to $250,000 for you, your spouse and your dependent children under 23 when travelling on a common carrier (plane, train, bus or ship) with tickets charged to your card. Supplementary cardholders and their families are also covered.
- Flight delay: up to $500 for necessary hotel, meal and sundry expenses purchased within 48 hours when you experience a delay or denied boarding of four hours or more and no alternative transportation is available. This $500 amount is an overall limit per event, shared with the missed connection and baggage delay protections.
- Baggage delay: up to $500 for clothing and essential items purchased within four days when your outbound baggage is delayed by six hours or more. This $500 amount is an overall limit per event, shared with the missed connection and flight delay protections.
- Lost or stolen baggage: up to $500 per event for all insured persons, for checked or carry-on baggage and personal effects in transit, when the airfare is charged to your card. Within that limit, jewellery is capped at $300 per event and golf clubs, bags included, at $250 per event.
- Hotel or motel burglary: up to $500 against the loss of most personal effects if your hotel or motel is burglarized, when the stay is charged to your card.
Car Rental Insurance
Theft and damage protection is included for a rental car with a manufacturer’s suggested retail price of up to $85,000 before taxes for its model year, for rentals of up to 48 days. To use it, decline the rental company’s loss damage waiver (LDW) or any similar option and charge the full rental to your card. This protection costs nothing and replaces the daily insurance the rental company charges, usually $16 to $23 a day.
Mobile Device Insurance
Your device is covered up to $1,000 per event when it is charged to the card, for a maximum of two years from the date of purchase. The payout is based on the device’s depreciated value, which drops by 2% of the purchase price for each full month, minus a 10% deductible. Coverage against theft and accidental damage starts on the 91st day after purchase, since the first 90 days are covered by purchase protection.
Purchase Protection and Extended Warranty
Eligible items charged to your card are insured against accidental physical damage or theft for 90 days from the date of purchase, up to $1,000 per event for all items combined. The card also extends the manufacturer’s original warranty by up to one year on eligible items, with compensation limited to $10,000 per insured item and $25,000 per cardholder, per policy year, for all items combined.
Fees for the American Express Cobalt® Card
- Card fee: $15.99 a month, or $191.88 a year, for residents outside Quebec. Quebec residents are charged $191.88 a year.
- Supplementary cards: $0.
- Purchase interest rate: 21.99%.
- Cash advance interest rate: 21.99%.
- Foreign currency conversion fee: 2.5%.
- Minimum income required: none.
Because the fee is billed monthly rather than as a single annual amount, you can pause and resume the cost in line with how much you actually use the card.
- Annual fee
- $191.88
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$255Total$255Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $255
- Welcome offerGet 1,250 points after $750 in purchases per month for 12 months
- Up to 15,000 points
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Amex Cobalt Card – Frequently asked questions
Here are answers to common questions about the benefits of the American Express Cobalt® Card.
What are the benefits of the American Express Cobalt® Card?
The card gives 5 Membership Rewards points per dollar at grocery stores, restaurants, bars, convenience stores and on food delivery. It adds 3 points per dollar on streaming subscriptions and 2 points per dollar on gas, public transit and ride sharing. Moreover, it includes ten insurance coverages, a welcome bonus of up to 15,000 points and eight transfer partners. The full card profile details every condition.
What is the cap on the Cobalt Card 5X multiplier?
The cap sits at $2,500 in purchases per monthly billing period in the eats and drinks category. Beyond that amount, American Express pays 1 point per dollar. Over a full year, that represents $30,000 in purchases at 5 points per dollar. The cap never carries over from one month to the next.
How much does the American Express Cobalt® Card cost?
The annual fee reaches $191.88. Outside Quebec, American Express bills it at $15.99 a month. In Quebec, the issuer bills it once a year. In addition, the first supplementary card costs nothing. The purchase interest rate stands at 21.99%, and the foreign currency conversion fee at 2.5%.
Does the Cobalt Card offer trip cancellation insurance?
No. The American Express Cobalt® Card includes neither trip cancellation insurance nor trip interruption insurance. It does cover emergency medical expenses of up to $5,000,000 for 15 days. If those two protections matter to you, compare our selection of the best credit cards for travel insurance.
Which programs accept Membership Rewards transfers?
Five airline programs accept transfers: Aeroplan, Air France KLM Flying Blue, British Airways Executive Club, Delta SkyMiles and Asia Miles. Three hotel programs follow: Marriott Bonvoy, Hilton Honors and ALL Accor Live Limitless. Ratios range from 500 to 1,200 points received per 1,000 Membership Rewards points. Our Membership Rewards program page lists every ratio.
Is a minimum income required for the Cobalt Card?
No, American Express requires no minimum income for the American Express Cobalt® Card. In addition, the issuer lets you check whether your application would be approved before you submit it, with no impact on your credit score. That pre-check applies only to personal cards.
How much is the Cobalt Card welcome bonus worth?
Milesopedia values the welcome bonus at $255. It reaches 15,000 Membership Rewards points, at 1,250 points for each monthly billing period in which $750 in net purchases are charged to the card. The calculation therefore assumes $9,000 in spending over twelve months and a value of 1.7 cents per point.
Does the Cobalt Card give airport lounge access?
No, the American Express Cobalt® Card comes with no airport lounge access. However, the card does open the door to The Hotel Collection from American Express Travel. For a stay of two or more consecutive nights, you get a noon check-in and a credit of up to $100 USD. Our comparison with the Gold Rewards Card details the difference in travel benefits.