💎 American Express Cobalt® Card Review — Canada’s Favorite for Everyday Rewards

When it comes to earning serious rewards on your everyday spending, few cards compete with the American Express Cobalt® Card. With flexible points, rich earn rates, and perks tailored to modern lifestyles, it’s no surprise this card continues to dominate Canada’s rewards scene year after year.

But is it the right fit for your wallet? Let’s break down what makes the Amex Cobalt® a top contender—and who it’s best suited for.

📝 Overview

The Amex Cobalt® Card is designed for Canadians who want to maximize rewards on food, drinks, travel, and more—without needing to spend like a high-roller.

With a monthly fee of $12.99, strong 5x points on eats and drinks, and versatile Membership Rewards® points, it’s a top pick for both everyday earners and travel hackers.

🧾 Key Features

💰 Monthly Fee

• $12.99/month (That’s $155.88/year—easier on your budget than a lump-sum annual fee)

🔢 Interest Rates

• Purchase APR: 21.99%

• Cash Advance APR: 21.99%

• Balance Transfer: Not available

🎁 Welcome Bonus

• Up to 15,000 points in your first year (1,250 points/month with $750 in monthly spending)

That’s enough for $150 in travel or gift cards. Simple and attainable.

💳 Rewards Breakdown

Points add up fast, especially for foodies and commuters. Even your weekly grocery run earns 5x.

🌎 Redemption Options

One of the Cobalt’s best features is flexibility. You can redeem your Membership Rewards® points for:

• Travel: Book flights, hotels, and more at a rate of 1,000 points = $10

• Statement credits: For any purchase

• Gift cards and merchandise

• Transfer to partners like Aeroplan, Marriott Bonvoy, British Airways Avios, and more

Pro tip: Transfer to travel partners for potentially even higher value per point.

🛡️ Insurance Coverage

The Cobalt® comes with a solid suite of insurance perks:

• Travel Emergency Medical: Up to $5M (for under age 65)

• Flight Delay & Baggage Insurance

• Hotel/Motel Burglary Insurance

• Car Rental Theft & Damage Coverage

• Purchase Protection & Extended Warranty

Coverage is strong for a card with a monthly fee under $13.

📱 Extra Perks

• Front Of The Line® access to concerts, shows, and events

• Amex Offers: Get cash back and discounts with select brands

• Mobile device insurance up to $1,000 (if purchased with your card)

👤 Who Is This Card For?

The Cobalt® is a great fit if you:

✅ Spend a lot on groceries, dining, food delivery, or coffee shops
✅ Travel occasionally and want flexibility with redemptions
✅ Like the idea of a monthly fee instead of a big upfront annual charge
✅ Want to rack up serious points without luxury-level spending

❌ Who Might Want to Skip It?

This card may not be the best fit if you:

🚫 Frequently shop where Amex isn’t accepted (like some small merchants)
🚫 Need balance transfer or low-interest features
🚫 Want premium airport lounge access or business-class perks

🧮 How Much Can You Earn?

Let’s say you spend:

• $800/month on food and groceries

• $200/month on gas and transit

• $500/month on everything else

That would net you:
48,000+ Membership Rewards® points per year, which can equal $480+ in value, or potentially much more if transferred to travel partners.

📊 CreditAssess.ca Verdict

The American Express Cobalt® Card is arguably the most rewarding everyday card in Canada. With killer earn rates on food and travel, solid insurance, and flexible redemptions, it punches far above its weight class.

If your lifestyle aligns with its strengths (and you’re okay with the Amex acceptance network), this card delivers exceptional long-term value.

⭐ Final Rating (by CreditAssess.ca)

✅ Overall Score: 4.7 / 5

Disclaimer: Refer to the official credit card web page for the latest rates, terms, and conditions. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute professional and/or financial advice.