American Express Cobalt Card
C$192 annual fee · 1x on everything else · 2.5% foreign transaction fee
Earn rates · how we got this
| Category | Rate | Cap |
|---|---|---|
| Dining | 5x | on the first C$2,500/month |
| Groceries | 5x | on the first C$2,500/month |
| Streaming | 3x | uncapped |
| Gas | 2x | uncapped |
| Transit | 2x | uncapped |
| Rideshare | 2x | uncapped |
| Everything else | 1x | uncapped |
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Signup bonus: 15,000 points after C$9,000 in 12 months. We never count unearned bonuses in savings math — a bonus you don't clear is worth zero. 1,250 MR points for each monthly billing period you spend $750, up to 15,000 over the first year Bonus figure confirmed on the issuer's page 2026-09-14.
Non-cash perks
- Mobile device insurance
- Amex Offers
- Front of the Line event access
- Billed monthly ($15.99/mo)
Does the fee earn out? · how we got this
The C$192 fee minus C$0 in printed credits leaves C$192/yr to earn back through rewards — roughly C$3,838 of dining spending at 5x (valuing Amex Membership Rewards (Canada) at the same mid-range value the optimizer uses). Whether that clears depends on your actual spending.
Who this card is not for
Every point below is a term the issuer prints, read off this card's own row in our database — not an opinion about the card. two things on this card rule out a kind of spender:
- Anyone who spends abroad. Every purchase in a foreign currency carries a 2.5% foreign transaction fee. On a card earning 1.0¢ per dollar at the base rate, that fee costs more than the rewards on the same purchase.
- A heavy dining spender. The 5x on dining stops after C$2,500 of it per month. Past that the same purchases earn its base 1x, so the headline rate describes the first C$2,500 only.
More from American Express (Canada)
Which card should this spending actually be on? The demo re-scores a year of realistic spending against every card in a wallet — free, no signup. See it on sample data →
Verified 2026-09-02 against issuer terms · sources: www.americanexpress.com · www.americanexpress.com. Spot an error? Tell us.