American Express Cobalt® Card

Card Features

  • In your first year as a new Cobalt Cardmember, you can earn 2,500 Membership Rewards® points for each monthly billing period in which you spend $500 in net purchases on your Card. This could add up to 30,000 points in a year. That’s up to $300 towards a weekend getaway or concert tickets
  • Earn 5x the points on eligible eats and drinks in Canada, including groceries and food delivery
  • Earn 3x the points on eligible streaming subscriptions in Canada
  • Earn 2 points for every $1 spent on eligible transit & gas purchases in Canada and eligible travel purchases. That's 2X the points on purchases that get you from point A to B
  • Earn 1 point for every $1 in Card purchases everywhere else. We won't tell you where to spend, we'll just reward you on your Card purchases
  • Transfer points 1:1 to several frequent flyer and other loyalty programs
  • Cobalt Cardmembers receive regular Perks such as bonus reward offers and access to great events
  • Access Front Of The Line® Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with American Express® Experiences
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details, current product information and Terms and Conditions, click the Apply now link. Conditions Apply.

Interest Rates

Purchase APR: 20.99%

Balance Transfer APR: N/A

Cash Advance APR: 21.99%

Annual Fee

$12.99 per month of Cardmembership ($155.88 annually)

Additional Cardholders: Additional Cards can be added at no additional cost


  • Earn 5x points on eats and drinks, including groceries and food delivery
  • Redeem points with the mobile app
  • Generous welcome bonus


  • The fee is a little steep, but isn't a deal breaker

Bonus Offer

Earn up to 30,000 bonus Membership Rewards® points

Introductory Rates


Reward Earnings Rate

Up to 5%

Additional Details


Balance Transfer Fee: N/A

Foreign Transaction Fee: 2.5%

Late Fee: N/A

Over Credit Limit Fee: $29 Review

American Express Canada just crushed the competition in a major way. With the launch of the Cobalt Card, American Express is offering a market leading 5x points accelerator for eats and drinks, including groceries and food delivery. Plus, a 2x points accelerator for travel that includes flights, accommodations, taxis, public transit and gas. 1x on everything else.

It’s pretty clear who the target market for this card is – millennials. The on-the-go urban professional eats out, drinks out, and travels. The Colbalt card rewards them for the purchases they’re already making. In a lot of ways it’s a no-brainer.

The savvy spender can earn up to 30,000 bonus points in the first year of Cardmembership. Earn 2,500 bonus points/month with $500 spend monthly.

As we often say, a rewards card is only as good as the redemption options. American Express gets it right here too. There are a number of ways to redeem; pay with points, redeem for trips, use your points at checkout on, gift cards, and access to merchandise through the Membership Rewards® catalogue.

Points can even be used to pay for virtually any purchase right on the mobile app, whether it’s a trip, a monthly streaming subscription, or new outfit. Score!

The card comes with a $12.99/month fee, equating to a $155.88 annually annual fee. While this is on the higher end of annual fees, we think the rewards will outweigh the fee for most young professionals.