Amex Cobalt Benefits: The Complete List

Q: 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.

Q: 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.

Credit Cards Amex Cobalt Benefits: The Complete List

To the point The complete list of American Express Cobalt® Card benefits: multipliers, welcome bonus, insurance coverage, point transfers and our verdict.

The American Express Cobalt^® Card remains the most discussed rewards card in Canada. Yet nobody ever lays out the full list. Here are all the Amex Cobalt benefits, figure by figure, checked against the issuer’s own terms.

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 the best credit card from American Express, whether you want points for travel or cash back.

American Express Cobalt^® Card welcome offer

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 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:

15,000 Aeroplan points
15,000 Avios points
15,000 Flying Blue Miles
18,000 Marriott Bonvoy points

If hotel points are what you are after, our ultimate guide to Marriott Bonvoy and our complete map of Marriott Bonvoy hotels by category show what those points can actually buy.

American Express Cobalt^® Card benefits

Here is what the card gives you, starting with the benefits cardholders use most.

5X points on eligible eats and drinks in Canada: groceries, restaurants and bars, home food delivery and convenience stores. A spend cap applies.
3X points on eligible streaming subscriptions in Canada.
2X points on eligible gas, public transit and ride sharing purchases 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 hold the same value either way: 1,000 points = $10 as a statement credit, or a 1:1 transfer to several airline and hotel loyalty programs.
No minimum income requirement, as with every American Express Canada card.
Additional cards at no extra cost: the first and every other supplementary card is $0.
The Hotel Collection: a room upgrade when available, 12pm check-in and late check-out when available, and up to $100 USD in hotel credit on amenities charged to the room for a stay of two or more consecutive nights, booked through American Express Travel.
Front Of The Line^{^®} presale and reserved tickets for concerts and theatre performances, plus offers and events curated for cardmembers through Amex Experiences.
A soft credit check before you apply: you can see whether you will be approved with no impact to your credit score. This applies to American Express personal card applications.

To see how it compares with the rest of the line-up, read our round-up of the best credit cards from American Express in Canada.

The 5X categories and where they apply

The 5X rate is the reason most people carry this card. In Canada it covers four kinds of merchants:

Groceries: Metro, IGA, Sobeys, Super C, Safeway, Whole Foods.
Restaurants and bars: sit-down meals, takeout and drinks.
Home food delivery.
Convenience stores: Couche-Tard, 7-Eleven.

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:

Category	Points per dollar
Grocery (Metro, IGA, Sobeys, Super C, etc.)	5
Home food delivery	5
Restaurants and bars	5
Convenience stores	5
Streaming services	3
Service station	2
Transport	2
Travel	1
Other	1

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.

You can also stack these categories with the hundreds of stores that offer 5x points.

American Express Cobalt^® Card insurance coverage

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.

Travel insurance

Emergency medical: up to $5,000,000 for the first 15 days of a trip.
Travel accident: accidental death and dismemberment of up to $250,000 for you, your spouse and dependent children under age 23 when travelling on a common carrier (plane, train, bus or ship) and the tickets are charged to your card. Supplementary cardholders and their families are covered too.
Flight delay: up to $500 for necessary hotel, meal and sundry expenses bought within 48 hours when you are delayed or denied boarding for four hours or more and no other transportation is available. This $500 is an aggregate limit per occurrence, shared with missed connection and delayed baggage coverage.
Delayed baggage: up to $500 for essential clothing and sundries bought within four days when your outbound luggage is delayed six hours or more. This $500 is an aggregate limit per occurrence, shared with missed connection and flight delay coverage.
Lost or stolen baggage: up to $500 per occurrence for all insured persons combined, for checked or carry-on baggage and personal effects in transit, when the airline tickets are charged to your card. Within that limit, jewellery is capped at $300 per occurrence and golf clubs, including golf bags, at $250 per occurrence.
Hotel and motel burglary: up to $500 against the loss of most personal items if your hotel or motel is burglarized, when the stay is charged to your card.

Rental car insurance

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.

Mobile device insurance

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.

Purchase protection and extended warranty

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.

American Express Cobalt^® Card fees

Card fee: $15.99 per month, which equals $191.88 per year, for residents outside Quebec. Quebec residents are billed $191.88 per year.
Additional cards: $0.
Purchase interest rate: 21.99%.
Cash advance interest rate: 21.99%.
Foreign transaction fee: 2.5%.
Minimum income required: none.

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.

Amex Cobalt Card – Frequently asked questions

Here are the questions Milesopedia readers ask most often 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.

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Caroline Tremblay

Caroline, a loyalty program specialist, helps families maximize their points to travel more frequently and affordably. With expertise in Disney, AIR MILES, and Costco, she travels the world with her partner and two children through rewards. Passionate about the latest in loyalty programs, Caroline shares tips to help you earn more points and turn your travel dreams into reality.

All posts by Caroline Tremblay

Review type

Credit Cards

The Cobalt Card point multipliers

The $2,500 monthly cap

The monthly welcome bonus

Insurance included with the Cobalt Card

Membership Rewards point transfers

Amex Offers, Front Of The Line and Experiences

The Hotel Collection

Summary table of Cobalt benefits

Our verdict on the Cobalt Card

Who gets their money back

Who should look elsewhere

Amex Cobalt Card – Frequently asked questions

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