rewards4.8 / 5

American Express Cobalt Card

American Express

Best for

Foodies and young professionals who spend heavily on groceries, dining and food delivery.

Apply on American Express

Annual fee

$192

FX fee

2.5%

Purchase APR

21.99%

Income req.

—

Recommended credit score

680+

Approval difficulty

Moderate approval

VaultNerd estimate based on the card's tier and income requirements — not an official issuer cutoff. Approval also depends on income, debt, and credit history.

Our verdict

Widely regarded as the best everyday rewards card in Canada thanks to its 5x eats-and-drinks rate and flexible, transferable points. The fee hike to $191.88 stings, but heavy food spenders still come out far ahead.

Reward rates

Groceries & food delivery Eligible eats and drinks in Canada; monthly spend cap applies	5x
Dining & bars Part of the 5x eats and drinks category; monthly spend cap applies	5x
Streaming subscriptions	3x
Gas	2x
Transit & ride-sharing	2x
Everything else Plus 1 extra point on hotel/car bookings via Amex Travel Online	1x

VaultNerd values these points at ~2¢ each.

Welcome bonus

~$300 value

Up to 15,000 Membership Rewards points in your first year (1,250 points per monthly billing period)

Requirement: Spend $750 in net purchases each monthly billing period for the first 12 months

Pros

Unmatched 5x earn rate on groceries, restaurants and food delivery
Membership Rewards points are flexible and transfer 1:1 to Aeroplan and Avios
Strong insurance package including mobile device coverage

Cons

Monthly fee structure means the $191.88 fee can't be avoided
Amex acceptance is weaker at some Canadian grocers (e.g. Loblaws/Costco)
Welcome bonus requires consistent monthly spending over a full year

Perks

5x points on eats and drinks in Canada, the highest food multiplier in the country
Transfer points 1:1 to Aeroplan, Avios, Flying Blue and to hotel partners like Marriott Bonvoy and Hilton Honors
Up to $100 USD hotel credit plus room upgrades through The Hotel Collection
Front Of The Line Amex Presale tickets and Amex Experiences
Mobile device insurance up to $1,000
No minimum income requirement

Insurance

Travel emergency medical $5,000,000 (15 days, under age 65)
Travel accident insurance $250,000
Flight delay, baggage delay and lost/stolen baggage ($500 each)
Rental car theft and damage (vehicles up to $85,000, 48 days)
Hotel/motel burglary $500
Mobile device insurance $1,000
Purchase protection (90 days) and extended warranty (+1 year)

Disclaimer: This article is for informational purposes only and does not constitute financial, tax, or legal advice. Information may be simplified, incomplete, or out of date. Consult a licensed professional before making financial decisions. VaultNerd may receive compensation from partners featured on this site — this does not influence our editorial content.

Written by

The VaultNerd Team

Researching and writing about Canadian credit cards and rewards since 2026.

Cite this page

“American Express Cobalt Card Review — VaultNerd” — VaultNerd, https://www.vaultnerd.com/credit-cards/amex-cobalt, updated June 2026.

Sources

American Express cardholder agreement and rates & fees disclosure
VaultNerd cards database