American Express Cobalt Card

The American Express Cobalt Card is a top rewards credit card in Canada, offering 5x points on dining and groceries with flexible redemption options.

Last checked on June 9, 2026. We may earn a commission when you click through.

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✓ 5x points on dining and groceries ✓ Flexible Membership Rewards redemption ✓ Sign-up bonus of up to 30,000 points
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American Express Cobalt Card

Amex

Our Verdict

The Cobalt Card is ideal for foodies and frequent travellers, but its high APR and annual fee may deter casual users.

What it really costs

Annual fee$15.99/month for non-Quebec residents CA$191.88
APR Range 21.99% – 21.99%
Rewards5x dining/groceries, 3x streaming, 2x transit/gas, 1x everything else 5%
Welcome bonusUp to 30,000 points in first year with monthly spend targets CA$300

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Who it's for

This card is tailored for individuals who frequently dine out and want to earn rewards on everyday purchases.

Watch out

Be mindful of the high annual fee and fixed APR if you plan to carry a balance.

The good and the not so good

  • 5x points on dining and groceries
  • Flexible Membership Rewards redemption
  • Sign-up bonus of up to 30,000 points
  • 3x points on streaming services
  • No foreign transaction fees
  • High annual fee of $191.88
  • APR fixed at 21.99%
  • Requires monthly spend targets for bonus points
  • Limited acceptance compared to Visa/Mastercard
  • Not ideal for low spenders

In-Depth Review

The American Express Cobalt Card shines with its **5x points** on dining and groceries, making it an excellent choice for food enthusiasts. Users can earn **up to 30,000 points** as a sign-up bonus, contingent on meeting monthly spending targets, which can be quite attractive for regular spenders. With a **fixed APR of 21.99%**, this card is not suited for those who might carry a balance, as it can lead to significant interest charges. The **annual fee of $191.88** ($15.99/month for non-Quebec residents) also places it on the pricier side, making it essential for users to evaluate their spending habits before committing. Unlike many competitors, the Cobalt Card offers **flexible redemption** through Membership Rewards, allowing users to choose how they want to use their points. However, it’s worth noting that the card's acceptance is less widespread compared to Visa and Mastercard, which may impact usability during travel. In summary, while the Cobalt Card provides substantial rewards for targeted spending, it's crucial for potential cardholders to assess whether their expenses align with its benefits to truly maximize value. For more details, visit [American Express's official site](https://www.americanexpress.com/ca/en/credit-cards/cobalt-card/).

Summary

The American Express Cobalt Card offers valuable rewards for dining and groceries but comes with a hefty annual fee and high APR.

What cardholders say

Cardholders appreciate the high rewards rate but express concerns about the annual fee and APR.

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