American Express Canada
American Express Cobalt Card
Welcome Bonus
Earn up to 15,000 Membership Rewards points in first year
points dining groceries food-delivery streaming travel points-enthusiasts
Annual Fee
$192
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Quick Stats
Annual Fee
$192
Purchase APR
21.99%
FX Fee
2.5%
Card Type
amex
Rewards & Earning Rates
| Spending Category | Earn Rate |
|---|---|
| Eligible Eats & Drinks (Restaurants, bars, cafes, grocery stores, food delivery) | 5 Membership Rewards points per $1 |
| Eligible Streaming Services (Netflix, Spotify, Apple Music, etc.) | 3 Membership Rewards points per $1 |
| Eligible Travel (Flights, hotels booked directly, taxis, rideshare) | 2 Membership Rewards points per $1 |
| Gas, Transit, Rideshare | 2 Membership Rewards points per $1 |
| All other purchases | 1 Membership Rewards point per $1 |
Welcome Bonus Details
Earn 1,250 Membership Rewards points each month when you charge $750 in net purchases to your card for up to 12 months (total of 15,000 bonus points in first year)
Fees & Interest Rates
| Annual Fee | $191.88 |
| Additional Card Fee | $0.00 |
| Purchase Interest Rate | 21.99% |
| Cash Advance Interest Rate | 21.99% |
| Foreign Transaction Fee | 2.5% |
Pros & Cons
Pros
- Industry-leading 5x points on dining, groceries, and food delivery
- No annual income requirement
- 3x points on streaming services (Netflix, Spotify, etc.)
- Flexible points transfer to Aeroplan and other travel partners
- Monthly fee structure spreads out cost ($15.99/month)
- Up to 3 free supplementary cards
- Monthly earn bonus opportunity (1,250 points at $750 spend/month)
Cons
- Monthly fee adds up to $191.88 annually
- American Express acceptance lower than Visa/Mastercard in Canada
- 2.5% foreign transaction fee
- $30,000 annual cap on 5x category limits max rewards
- Travel earn rate reduced from 2x to 1x (October 2024 change)
- Points less valuable if not transferred to travel partners
- Complex redemption options can be overwhelming
Eligibility Requirements
Available to Canadian residents 18+; fair to good credit; best for frequent diners and travelers who can maximize 5x categories
Recommended Credit Score: 660+
Categories
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