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.
Rewards Rates
The American Express Cobalt credit card earns Membership Rewards 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).
- A monthly spending cap of $2,5000 applies to this bonus category.
- 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 gas, transit, and rideshare purchases 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.
Redeeming American Express Membership Rewards
American Express Membership Rewards points are a flexible and transferable points currency. The best use for them is to transfer them to an airline or hotel loyalty program partner for your next flight or hotel redemption if you want to maximize their value while saving on travel.
Membership Rewards frequent flyer and hotel loyalty program transfer partners include:
- 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
Learn more about Membership Rewards transfer partners with our Ultimate Guide to American Express Canada Transfer Partners.
Membership Rewards can also be redeemed toward travel purchases at a rate of 1 cent per point, plus they can be used for gift cards and merchandise. It is highly recommended to not use your points for these redemption options, as you will receive much higher value from transferring to a frequent flyer or hotel loyalty program.
Benefits
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).
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.
Top American Express Cards
| Credit Card | ||
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120,000 Membership Rewards Estimated value: $2,640 |
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100,000 Membership Rewards Estimated value: $2,200 |
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60,000 Membership Rewards Estimated value: $1,320 |
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40,000 Membership Rewards Estimated value: $880 |
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10,000 Membership Rewards Estimated value: $220 |
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Legal
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