The American Express Cobalt credit card is one of the most popular cards amongst the miles and points and travel community, and for good reason. With strong earning rates in lifestyle purchase categories and the highly desirable points currency of American Express Membership Rewards, it has a lot going for it.
Let’s go through the American Express Cobalt card in detail and make the case for why you should add it to your wallet.
Overview
Welcome Bonus
The American Express Cobalt card currently has a welcome bonus in which new cardholders can earn up to 15,000 Membership Rewards points:
- Earn 1,250 Membership Rewards for each monthly billing period in which you spend $750 for the first cardholder year (up to 15,000 Membership Rewards total)
The American Express Cobalt card gives cardholders the opportunity to earn 5x Membership Rewards on eligible restaurant, food delivery, and grocery store purchases.
In 2025, we selected this card to receive the award Best Points Credit Card for Grocery Purchases.
Check out our American Express Cobalt card review for more details.
15,000 Membership Rewards
$9,000
$330+
$156
Yes
–
The card does not have a minimum personal income or household income requirement.
Earning Rates
The real value of the American Express Cobalt card comes in its category earning rates. This card earns Membership Rewards at the following rates and categories:
- 5 Membership Rewards points for every dollar spent on food and drink purchases in Canada (including restaurants, grocery stores, and food delivery purchases)
- Cobalt cardmembers will earn 5x the points on all eligible eats & drinks charged to their card up to $2,500 monthly
- 3 Membership Rewards points for every dollar spent on eligible streaming subscriptions in Canada
- 2 Membership Rewards points for every dollar spent on eligible ride shares, transit, and gas in Canada
- 1 Membership Rewards point for every dollar spent on all other purchases
- 1 additional point on eligible hotel and car rental bookings via American Express Travel Online
The food and drink category more specifically covers:
- (i) restaurants, quick service restaurants, coffee shops, and drinking establishments in Canada
- (ii) stand-alone grocery stores in Canada
- (iii) delivery of food and groceries in Canada as a primary business
The food and drink category is the major upside of this card, especially when you consider that Membership Rewards have a minimum value of 1 cent per point, and practically, much higher. Therefore, it can be argued that this card earns even more than the 5% cashback equivalent making it the best credit card for dining our purchases in Canada.
Monthly Fee
This card really wants to be a daily driver: a card that you consistently find value in month to month. And nothing says that more than a monthly fee.
The Amex Cobalt card has a monthly fee of $12.99, which amounts to $155.88 per year of card membership.
Monthly fees are relatively uncommon in Canada, and certainly, an annual fee is preferred by many members of the miles and points community. I would consider this a downside, but a small price to pay for the significant upside of the card in terms of earning rates on both food and grocery.
Benefits
The American Express Cobalt card is not a premium card, so it does not come with top-of-the-line perks such as lounge access or best-in-class insurance. Nonetheless, it has some benefits worth mentioning.
American Express Hotel Collection
American Express Cobalt cardholders will also gain access to the American Express Hotel Collection booking platform. If you book a stay at a property on this platform for two consecutive nights or more, you will receive up to a $100 USD hotel credit and a one-category room upgrade at check-in (when available).
Access to Amex Offers
If you are a holder of a credit card issued by American Express, you are likely already with the lucrative Amex offers. These offers will appear on your card dashboard from time to time, with rebates and deals on shopping, dining, travel, and more.
Related: Amex Offers: Earn Rewards and Cash Back
We’ve seen some phenomenal offers in the past through Amex, including the popular Shop Small promotion.
Insurance Coverage
The American Express Cobalt credit card offers several types of insurance coverage:
- Emergency medical insurance: $5,000,000 for an insured person under 65 for the first 15 consecutive days of out-of-province travel
- Travel accident insurance: $250,000 of accidental death and dismemberment coverage
- Rental car theft and damage coverage: Comprehensive coverage for cars up to $85,000 MSRP
- Lost or stolen baggage coverage: $500 total coverage for all insured persons
- Flight delay insurance: $500 total coverage for reasonable purchases within 48 hours when delayed or denied boarding for 4 hours or more (combined maximum with baggage delay insurance)
- Baggage delay insurance: $500 total coverage for essential purchases within four days of arrival when baggage is delayed for 6 hours or more (combined maximum with flight delay insurance)
- Hotel burglary coverage: $500 total coverage for stolen items (excluding cash)
- Purchase protection plan: $1,000 coverage for accidental physical damage or theft for 90 days from the date of purchase
- Buyer’s assurance protection plan: Extend the manufacturer’s original warranty up to one additional year
- Mobile device insurance: $1,000 coverage for theft, loss, or accidental damage to your mobile device
Refer to the American Express Cobalt card insurance certificate for additional details, including terms and conditions for eligibility.
Just How Much Can You Earn with the American Express Cobalt Card?
The 5X earn rate has a spending maximum of $2,500 per month, up to $30,000 per cardmember year. This means if you spend $30,000 on food and drink you can earn 150,000 Membership Rewards 🤑, combined with whatever the current welcome offer is.
By the way, you can also earn 5,000 Amex MR points for referring a friend to the Cobalt card, up to a maximum annual referral bonus amount of 75,000 MR points per calendar year. Credit card referrals are a great way to boost your points balance even further, and the American Express Cobalt is no exception.
Redeeming American Express Membership Rewards
American Express Membership Rewards points is one of the most flexible points travel programs and currencies in Canada. Like most flexible points currencies, there are good and bad ways to redeem them from a value standpoint.
Without a doubt, the best way to redeem Amex Membership Rewards points is via transferring to one of the available frequent flyer and hotel loyalty program partners, including:
- Air Canada Aeroplan at a 1:1 ratio
- British Airways Avios at a 1:1 ratio
- Cathay Pacific Asia Miles at a 1:0.75 ratio
- Air France/KLM Flying Blue at a 1:0.75 ratio
- Delta SkyMiles at a 1:0.75 ratio
- Etihad Guest at a 1:0.75 ratio
- Hilton Honors at a 1:1 ratio
- Marriott Bonvoy at a 1:1.2 ratio
On the other hand, you can also derive value from the Amex Fixed Points Travel Program. Up to 2 cents per point to be exact.
Comparable Credit Cards
The American Express Cobalt card is one of the best credit cards for groceries in Canada. However, there are a few other cards in Canada that can contend with the American Express Cobalt card when it comes to grocery and restaurant purchases.
Scotiabank Gold American Express Card
The Scotiabank Gold American Express card earns 6x Scene+ points at Empire banner grocery stores, including Safeway, Sobeys, and more. It also earns 5x Scene+ points per dollar spent at dining, grocery stores, and entertainment purchases.
The Scotiabank Gold American Express card earns up to 6x Scene+ points at Empire grocery stores and charges no foreign exchange fees on purchases made in foreign currencies.
In 2025, we awarded this card as the Best Fixed Value Points Credit Card.
Check out our Scotiabank Gold American Express card review for more details.
40,000 Scene+
$7,500
$500+
$120
No
Jul 1, 2025
Scene+ points can be redeemed towards travel purchases at a rate of 1 cent per point, and even better, those travel purchases can be made by the cardholder separately and then redeemed against. There is no need to book through a specific travel portal to use your points, but Scene+ Travel is another valid option.
MBNA Rewards World Elite Mastercard
The MBNA Rewards World Elite Mastercard earns 5x MBNA Rewards points on all grocery purchases, up to a total of $50,000 spent per calendar year.
The MBNA Rewards World Elite Mastercard earns 5x MBNA Rewards points on restaurant, grocery, digital media, memberships, and household utility purchases.
Check out our MBNA Rewards World Elite Mastercard review for more details.
30,000 MBNA Rewards
$2,000
$400+
$120
Yes
–
MBNA Rewards points are less flexible and worth less than American Express Membership Rewards points, but they can still be used for travel bookings through the MBNA Travel Portal at a rate of 1 cent per point.
Conclusion
The American Express Cobalt card is arguably the best travel credit card in terms of earning rates for the restaurant and grocery category in Canada. If you have the spending habits to maximize the earning potential of 150,000 Membership Rewards points per year, it’s a no-brainer to have the American Expess Cobalt card as a keeper card in your wallet.
On the other hand, this card lacks many travel benefits that frequent flyers gravitate towards, namely airport lounge access. For that, you will need to consider other options. It’s also worth considering that Amex isn’t widely accepted, which may affect your spending potential with the card.
Frequently Asked Questions
The American Express Cobalt card has no minimum income requirement. Anyone is eligible to apply.
Yes. American Express Cobalt cardholders can earn 5x Membership Rewards points on up to $2,500 spent per month.
Reed Sutton
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Great review! The AMEX Cobalt card really does seem like a top choice for earning points on everyday spending. Thanks for breaking down the benefits and highlighting how valuable it can be for travelers.