American Express · American Express · travel
Cobalt Card
Advertiser disclosure: we may earn a commission when you apply through some links on this page. It never affects rank: cards are ordered by the value worked out from your spending. How we make money · Methodology
Terms read from American Express's page on Oct 16, 2026.
Year 1, after fees
$616
Year 2+, after fees
$466
every year after
3 years, after fees
$1,547
Break-even
Month 2
Earn rate by category
Points at 1.00¢ each (cash or statement credit); published range 1¢ to 2.2¢. Source: Amex Cobalt card page.
All values are after each card's annual or monthly fee, and foreign transaction fees when you set foreign spending. Additional-card fees and memberships some benefits need (such as Amazon Prime or Instacart+) aren't included.
Values for points and miles are estimates based on published redemption valuations; actual value depends on how you redeem.
On each spending preset
After fees; points at their cash value. "~" marks estimates.
| Spending | Year 1 | Year 2+ | 3 years | Break-even |
|---|---|---|---|---|
| Student ($985/mo) | $189 | $39 | $267 | Month 6 |
| Couple ($2,555/mo) | $483 | $333 | $1,149 | Month 3 |
| Family ($3,350/mo) | $616 | $466 | $1,547 | Month 2 |
| Frequent traveller ($3,880/mo) | $775 | $625 | $2,026 | Month 2 |
| Big spender ($7,960/mo) | $1,438 | $1,288 | $4,013 | Month 1 |
Who it suits
- People who spend a lot on dining and gas, where it earns above its base rate.
- Even light spenders: on a student's $985 a month it still earns back its fee.
Who should skip it
- Spending abroad: 2.5% on every foreign-currency purchase.
Fees and rates
- Annual fee
- $191.88
- Billed monthly
- $15.99
- Additional card
- No fee
- Foreign transaction fee
- 2.5%
- 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
Credits, as counted
- Instacart credits (up to $60 a year, through 2027): $60 a year30% used
Eligibility and availability
- Income
- None published
- Provinces
- All (no restriction stated)
Published requirements only. We don't estimate approval odds.
Assumptions
- Point value: American Express Membership Rewards (Canada) points at 1.00 cents each: no redemption style chosen, so cash or statement credit. Source: Amex Cobalt card page.
- Welcome bonus: 1,250 points for each month you spend $750 in the first year, up to 15,000. Your spending meets it in month 1.
- Credits: Each credit counts at the share a typical cardholder uses (listed on the card's page).
- Note: The welcome offer pays 1,250 points for each month you spend $750 in the first year.
- Note: The fee is $15.99 a month ($191.88 a year); Quebec residents pay $191.88 a year.
Not counted or 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.
Earns more every year after year 1
On a family's spending, these keep more value from year 2 than this card's $466.
Scotiabank Gold American ExpressYear 2+ $940
American Express SimplyCash PreferredYear 2+ $936
CIBC Dividend Visa InfiniteYear 2+ $767
Head to head
Frequently asked questions
Is the American Express Cobalt Card worth it?
On a family's spending ($3,350 a month, points at their cash value), it's worth $616 in year 1 and $466 a year after that, after a $191.88 annual fee. It covers its fee by month 2.
What is the American Express Cobalt Card welcome offer?
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?
Yes, 2.5% of each purchase in a foreign currency.
Sources
Rates, fees and offers are set by the issuer and may change. Check the issuer's terms before you apply. We don't estimate approval odds.
Compare it with 39 other cards on the Canadian card comparison or read how cards are valued.