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Per dollar of purchases
This section sets out the maximum coverage amounts or periods. Please review your insurance certificate for details, exclusions and limitations of your coverage, terms and conditions apply.*
The American Express Cobalt® Card is the best credit card from American Express, whether you want points for travel or cash back.
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 worth about $255.
Earning the full bonus means $9,000 in net purchases spread across 12 monthly billing periods. This offer rewards steady monthly spending rather than one large purchase.
You can use these points as statement credits on everyday or travel purchases, at the same rate either way: 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, that is a choice between:
Here is what the card gives you, starting with the benefits cardholders use most.
The 5X rate is the reason most people carry this card. In Canada it covers four kinds of merchants:
The 2X rate covers gas stations such as Esso, Shell and Petro-Canada, along with public transit and ride sharing.
With the American Express Cobalt® Card, you earn between 1 and 5 points per dollar:
That works out to a 1 to 5% return on those purchases. For example, if you spend $1,000 per month across groceries, restaurants and food delivery, you earn $50 back per month, or $600 per year from that category alone. Transfer the points to a program such as Aeroplan instead and the return can be higher.
The card comes with a broad insurance package. The amounts below are the coverage limits; conditions, age limits and exclusions are set out in the certificate of insurance linked in the Insurance section above.
Theft and damage coverage is included for a rental car with an MSRP, for its model year, of up to $85,000 excluding all taxes, for rentals of up to 48 days. To use it, decline the Loss Damage Waiver (LDW) or any similar option from the rental company and charge the full rental to your card. There is no cost for this coverage, and it replaces the daily insurance the rental company charges, usually $16 to $23 per day.
Your device is covered for up to $1,000 per occurrence when it is charged to the card, for up to two years from the date of purchase. The payout is based on the depreciated value of the device, which falls by 2% of the purchase price for every completed month, less a 10% deductible. Theft and accidental damage coverage starts on the 91st day after purchase, because the first 90 days are covered by purchase protection.
Eligible items charged to your card are insured against accidental physical damage or theft for 90 days from the purchase date, up to $1,000 per occurrence for all items combined. The card also extends the original manufacturer’s warranty by up to one additional year on eligible items, with indemnification limited to $10,000 per insured item and $25,000 per Cardmember per policy year for all items combined.
Because the fee is billed monthly rather than in one annual charge, you can stop and restart the cost in step with how much you are actually using the card.
You can use your American Express Cobalt® Card at grocery stores like Metro, Super C, Safeway, Whole Foods, your local Couche-tard or 7Eleven convenience store, your favorite gas station like Esso, Shell, Petro-Canada or any travel provider!
You can earn 1 point per dollar on all purchases with the American Express Cobalt® Card. And 5 points per dollar for groceries, restaurants and food delivery, and 2 points per dollar for transportation.
The American Express Cobalt® Card offers up to 15,000 Membership Rewards points spread over the first 12 months, where you earn 1,250 points each month after making $750 in purchases on your card.
Membership Rewards points can be used as credit towards everyday purchases or travel (1,000 points = $10), or transferred to loyalty programs such as Aeroplan, Avios, Flying Blue, Marriott Bonvoy or Hilton Honors.
You can earn between 1 and 5 points per dollar, depending on the category of purchase: 5 points for groceries, food delivery, restaurants, and convenience stores; 3 points for streaming services; 2 points for gas stations and transportation; and 1 point for all other purchases.
For example, if you spend $1,000 monthly in the grocery, restaurant and food delivery categories, you’ll earn $50 cash back per month, or $600 per year, thanks to 5 points per dollar in these categories.
Yes. The American Express Cobalt® Card includes travel emergency medical insurance of up to $5,000,000 for cardmembers aged 64 and under, for the first 15 days of a trip outside your home province. Flight delay, missed connection and baggage delay share a $500 limit per trip, and lost or stolen baggage is covered up to $500. The card also covers rental car theft and damage, travel accident, hotel or motel burglary, mobile device insurance, and purchase protection. Trip cancellation insurance is not included.
No minimum income is required to obtain the American Express Cobalt® Card.
In your first year, you can earn 1,250 Membership Rewards points every month you charge $750 in net purchases to your Card, for a total of up to 15,000 points in one year.
Membership Rewards points earned with the American Express Cobalt® Card can cover American Express travel expenses by applying them directly as a credit on your travel purchases or by transferring them to partner loyalty programs.
To earn the welcome bonus with the American Express Cobalt® Card, you must make net purchases of $750 each month to receive 1,250 Membership Rewards points, up to 15,000 points during your first 12 months. Full program terms and conditions are available on the Amex Canada website.
Net purchases, meaning your purchases minus returns, made with the American Express Cobalt® Card are eligible to earn Membership Rewards points based on qualifying purchase categories, such as groceries or travel, and according to the loyalty program’s terms and conditions.
The American Express Cobalt® Card offers theft and damage insurance for rental cars. Terms of service and details of coverage and exclusions can be found in the card’s insurance guide.
No, the American Express Cobalt® Card is specifically designed for residents of Canada. U.S. residents can explore other card options through the country’s Amex bank.
The American Express Cobalt® Card is billed monthly rather than once a year: $15.99 per month for residents outside Quebec, which equals $191.88 per year. Quebec residents are billed $191.88 per year. Additional cards are $0. The current offer for new cardmembers is the welcome bonus of up to 15,000 Membership Rewards points over the first 12 months.
Specific terms and conditions for cash advances with the American Express Cobalt® Card, including applicable fees and interest rates, can be found in the Card Services Guide on the American Express Canada website.
During each monthly billing period, American Express Cobalt® Cardmembers can earn 1,250 Membership Rewards points by charging $750 in net purchases to the card, earning up to 15,000 points in one year, according to program terms and conditions.
Yes, you can use your American Express Cobalt® Card in the USA or anywhere else in the world. However, there will be a 2.5% conversion fee applied to your purchase.
Yes. The American Express Cobalt Card stands out with 5 points per dollar on groceries, restaurants and food delivery, the categories where households spend the most. Membership Rewards points transfer to several airline and hotel programs, which makes it one of the best rewards credit cards in Canada. For anyone who spends regularly on food, the points value easily exceeds the annual fee.
Officially, the purchase categories apply in Canada. However, in our experience, the categories also apply to your purchases in the U.S. or elsewhere in the world.
You’ll also earn 5 points per dollar for your purchases at grocery stores, restaurants and bars in the U.S. and around the world.
The American Express Cobalt® Card is a credit card, not a charge card. It carries a purchase interest rate of 21.99% and a cash advance rate of 21.99%, which means a balance can be carried from one billing period to the next instead of having to be paid in full every month.
No. The American Express Cobalt® Card is issued as a standard plastic card rather than a metal one. What sets it apart is its earn rate of up to 5 points per dollar on eligible eats and drinks, and its insurance package, rather than the material the card is made of.
The American Express Cobalt® Card costs $15.99 per month for residents outside Quebec, which comes to $191.88 per year. Quebec residents are billed $191.88 per year instead of monthly. There is no fee for additional cards.
American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, we may receive compensation from American Express, which can be in the form of monetary payment.
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