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American Express Cobalt Card review

4.8Rated by the CreditCardGuru Editorial Team

The Cobalt is the gold standard for food-and-grocery earning in Canada. If you spend heavily at restaurants and supermarkets and value flexible, transferable points, nothing else comes close.

At a glance

Annual fee
$156
Welcome bonus
~$300
Foreign tx fee
2.5%
Network
AMEX
Rewards
points
Purchase APR
21.99%

Rewards & earn rates

Eats & food delivery5x
Groceries5x on up to $30,000/yr5x
Eligible streaming3x
Travel2x
Transit & gas2x
Gas2x
Everything else1x

Welcome offer: Earn up to 15,000 Membership Rewards points in the first year (Earn 1,250 points for each monthly billing period you spend $750).

Pros & cons

Pros

  • Best-in-class earn rate on dining and groceries
  • Membership Rewards transfer to Aeroplan, Marriott & more
  • Low monthly fee is easy to justify for foodies

Cons

  • 2.5% foreign transaction fee
  • Amex is less widely accepted than Visa/Mastercard

Perks & insurance

Key perks

  • Transfer points 1:1 to airline & hotel partners
  • Amex Offers (targeted statement credits)
  • Front Of The Line event presale & reserved tickets

Insurance

  • $1,000 mobile device insurance
  • Travel accident insurance
  • Car rental theft & damage
  • Flight & baggage delay
  • Hotel/motel burglary

Rates & fees

Annual fee
$156
Purchase interest
21.99%
Cash advance
21.99%
Foreign transactions
2.5%

$12.99 billed monthly.

Compare American Express Cobalt Card with…

vs Scotiabank Gold American Expressvs Scotiabank Passport Visa Infinitevs CIBC Aventura Visa Infinite
Last updated June 1, 2026Reviewed by CreditCardGuru Editorial Team

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