American Express Cobalt Card

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:

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 Welcome Bonus
Apply Now American Express Business Platinum Card American Express Business Platinum Card
120,000 Membership Rewards
Estimated value: $2,640
Apply Now
Apply Now American Express Platinum Card American Express Platinum Card
100,000 Membership Rewards
Estimated value: $2,200
Apply Now
Apply Now American Express Gold Rewards Card American Express Gold Rewards Card
60,000 Membership Rewards
Estimated value: $1,320
Apply Now
Apply Now American Express Business Gold Rewards Card American Express Business Gold Rewards Card
40,000 Membership Rewards
Estimated value: $880
Apply Now
Apply Now American Express Green Card American Express Green Card
10,000 Membership Rewards
Estimated value: $220
Apply Now

Legal

American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment.

Leave a Comment


This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: these responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.