Review (2023): American Express Cobalt Card

by Anshul
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The best credit card in Canada now comes with up to 30,000 Membership Rewards (MR) points for new cardmembers. A minimal spend of $500 each month will continue to earn 2500 MR points each month, which adds up to 30,000 MR points each year. Here is why every household must have the American Express Cobalt card in their wallets;

American Express Cobalt Card Review – Apply Now 


American Express Cobalt

  • Monthly Fee: $12.99/month of Cardmembership ($155.88 annually)
  • Welcome Bonus: 2,500 points for each monthly billing period in which you spend $500 in net purchases on your Card, which can add up to 30,000 MR points annually.
  • Earning Rate:
    • 5x on eligible eats and drinks in Canada, including groceries and food delivery
    • 3x on eligible streaming subscriptions in Canada
    • 2x on Travel and Transit (including flights, hotels, taxis, gas, ride sharing, and transit passes)
    • 1x on all other purchases
  • Other Key Benefits:
    • Amex Special Offers (perks, bonus rewards)
    • The Hotel Collection ($100 USD hotel credit at participating properties on qualifying room charges and room upgrade with min. 2 night booking made directly on American Express travel portal)
    • Extensive Insurance coverage for travel and shopping
  • Redeeming MR points
    • Transfer points 1:1 to frequent flyer programs, like Air Canada Aeroplan or British Airways Avios. Or to Hotel programs like Hilton and Marriott (5:6).
      With the ability to earn 5x MR points/$, the best use would be to convert 1:1 to a program like Aeroplan, and leverage against business class award redemption. Or convert to Marriott Bonvoy points, 6 Marriott points per dollar is better that what any other card can offer (Marriott Bonvoy Amex cards come the closest with 5 points/$).
    • Fixed Points Travel Program: A short haul return flight in economy class (15,000 points) can be had with a spend of $3000 on the American Express Cobalt Card or a return trip to Europe in Business class (140,000 points) with $28000 in card spend. These are incredible returns with daily spends on a card.


    • American Express Cobalt

      Amex Fixed Points Travel – Economy (r/t)


      American Express Cobalt

      Amex Fixed Points Travel – Business (r/t)


    • Statement Credits towards eligible purchases – for example, 30,000 points is enough for $300 in statement credits redeemed towards purchases charged to the Card.
    • Gift cards and merchandise through – for example, 30,000 points is enough for $225 in American Express® Prepaid Cards
    • Purchases at

Detailed list of benefits and perks of the card are listed here

Take Away

Important to note that the 5x earn rate on the card has a $30,000 annual limit. If cardmembers were to maximize this limit, they stand to earn a whopping 150,000 MR points each year. With a 1:1 transfer rate to an airline program like Aeroplan, 150,000 Aeroplan points is good enough for a round trip to most places around the globe, in Business Class – an incredible return on the card! American Express Cobalt Card continues to be a must have for all Canadians, for its ease of earning points and great returns. In my opinion, still the best credit card in Canada.

Title Image Source: American Express 


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