American Express Cobalt Card

The American Express Cobalt card earns Membership Rewards points and gives cardholders the opportunity to earn 5x Membership Rewards on eligible restaurant, food delivery, and grocery store purchases. In 2024, we selected this card to receive the award Best Credit Card for Grocery Purchases.

Check out our American Express Cobalt card review for more details.

Rewards Rates

The American Express Cobalt credit card earns Membership Rewards (MR) points for all purchases made on the card:

• 5 Membership Rewards points for every dollar spent on eligible food and drink purchases in Canada (including restaurants, food delivery, and grocery stores). Spend cap applies.
• 3 Membership Rewards points for every dollar spent on eligible streaming subscription services 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

If you want to learn more about the specific locations where you can expect to earn these multipliers, click here. The American Express Cobalt card is one of the best credit cards for grocery purchases in Canada.

Redeeming Membership Rewards

The best use for Membership Rewards is to transfer them to a variety of airline and hotel partners for your next redemption. Learn more about transfer partners with our Ultimate Guide to American Express Canada Transfer Partners.

Partners for American Express Canada include:

• Transferrable at 1:1 ratio: Aeroplan Points, British Airways Avios, Hilton Honors
• Transferrable at 1:0.75 ratio: Alitalia MilleMiglia, Cathay Pacific Asia Miles, Delta Skymiles, Eithad Guest, Flying Blue
• Transferrable at 1:1.2 ratio: Marriott Bonvoy

Click to learn everything you need to know about the American Express Membership Rewards program.

Insurance Coverage

The American Express Cobalt credit card offers nine types of insurance coverage:

• Emergency medical insurance
• Travel accident insurance
• Rental car theft and damage coverage
• Lost or stolen baggage coverage
• Baggage delay and flight delay insurance
• Hotel burglary coverage
• Purchase protection
• Buyer assurance protection
• Mobile device insurance

Refer to the American Express Cobalt insurance certificate for additional details, including terms and conditions for eligibility.

Other Membership Rewards Cards You Might Consider

	Credit Card	Welcome Bonus	Net Value
	American Express Business Platinum Card	120,000 Membership Rewards	$1,841	Apply
	American Express Platinum Card	100,000 Membership Rewards	$1,401	Apply
	American Express Business Gold Card	70,000 Membership Rewards	$1,341	Apply
	American Express Gold Card	60,000 Membership Rewards	$1,070	Apply
	American Express Business Edge Card	45,000 Membership Rewards	$891	Apply