American Express Cobalt Card
American Express travel card with a $191.88 annual fee. Earns 5x on eats and drinks: restaurants and food delivery in Canada, 3x on streaming subscriptions in Canada, 2x on gas, transit and rideshare in Canada.
Terms read from American Express's page on October 16, 2026. Rates and terms are set by the issuer and may change. We don't estimate approval odds.
Fees and rates
- Annual fee
- $191.88
- Additional card
- No fee
- Foreign transaction fee
- Not stated
- Purchase APR
- 21.99%
Rewards
- 5x on eats and drinks: restaurants and food delivery in Canada
- 3x on streaming subscriptions in Canada
- 2x on gas, transit and rideshare in Canada
- 1x on everything else
Earns American Express Membership Rewards (Canada), valued at 1 cents as cash, 1 through the issuer's travel booking and 2.2 with transfer partners.
Credits, as counted
- Instacart credits (up to $60 a year, through 2027): $60 a year30% used
Not confirmed
- Whether 5x eats and drinks covers grocery stores, and its monthly cap, aren't on the card page; only restaurants and food delivery are counted, uncapped.
- Foreign transaction fee isn't on the card page.
Worked examples
Value on each spending preset, points redeemed as cash, typical use of credits.
| Spending | Year 1 | Year 2+ | 3 years | Break-even |
|---|---|---|---|---|
| Student | $189 | $39 | $267 | Month 6 |
| Family | $616 | $466 | $1,547 | Month 2 |
| Frequent traveller | $775 | $625 | $2,026 | Month 2 |
Frequently asked questions
Is the American Express Cobalt Card worth it?
On a family's spending ($3,350 a month, points as cash), it's worth $616 in year 1 and $466 a year after that, after a $191.88 annual fee. It pays for its fee by month 2.
What is the American Express Cobalt Card welcome bonus?
1,250 points for each month you spend $750 in the first year, up to 15,000.
Does the American Express Cobalt Card charge foreign transaction fees?
The issuer's page doesn't state its foreign transaction fee, so check the full terms before travelling.
What isn't counted in its value?
The fee is $15.99 a month ($191.88 a year). The welcome offer pays 1,250 points for each month you spend $750 in the first year.
Sources
Estimates for information only; not tax, legal or financial advice. See our methodology.