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American Express · creditCA
Last updated
Is the Amex Cobalt worth keeping when the fee hits?
Welcome offer — Up to 15,000 MR points in year one — 1,250 points each monthly billing period you spend $750+ (billed $15.99/month) Inferred by source
Portal caveat — Amex Travel averages ~10.32% above booking direct; portal redemptions are worth less than the headline rate.
Apply on American Express's siteOfficial issuer page (not an affiliate link yet) · how we earn
Typically needs good credit (670–739) — guideline, not a guarantee · Set your credit profile
Personalize this for you add your cards & memberships and we'll show what it's really worth to you.
What this card delivers across six value dimensions (0–100, normalized).
| 5× | Eats & drinks in Canada (groceries, restaurants, food delivery) Inferred by source |
|---|---|
| 3× | Eligible streaming subscriptions (Canada) Inferred by source |
| 2× | Gas, transit & rideshare (Canada) Inferred by source |
| 1× | Everything else Inferred by source |
Amex Membership Rewards (Canada) points transfer to these loyalty programs. Canadian MR partner list differs from the US program. Mostly 1:1. Inferred by source
| Airlines (11) | |
|---|---|
| Hotels (3) |
Recent transfer changes
No lounge access.
| Cell phone protection | Mobile device insurance (up to $1,000) Inferred by source |
|---|
Using Amex Cobalt at an ATM is a cash advance, not a normal purchase — it costs a fee, starts charging interest the same day (no grace period), and earns no rewards.
| Cash advance fee | $3.50 per funds advance in Canada (about 1% abroad) Estimated by source |
|---|---|
| Cash advance APR | 21.99% funds advance rate, interest from day one (no grace period) Inferred by source |
| Foreign ATM | Cash advance plus the 2.5% foreign transaction fee — and the ATM operator may add its own surcharge. |
ATM operator surcharges are set by the machine, not the card. To avoid all of this, use a debit card or cash for ATM withdrawals.
*Realized/net assume full use of non-spend-gated credits — an upper bound. Personalize it
The American Express Cobalt® Card has a CA$192 annual fee.
Using its non-spend-gated credits fully, the American Express Cobalt® Card returns about CA$0 in value against its CA$192 annual fee — a net of −CA$192 per year. It only makes sense if you value its perks beyond the listed credits.
The American Express Cobalt® Card earns 5x on eats & drinks in canada (groceries, restaurants, food delivery), 3x on eligible streaming subscriptions (canada), 2x on gas, transit & rideshare (canada).
No — the American Express Cobalt® Card does not include airport lounge access.
Yes — the American Express Cobalt® Card charges a 2.5% foreign transaction fee.
Up to 15,000 MR points in year one — 1,250 points each monthly billing period you spend $750+ (billed $15.99/month). Welcome offers change frequently — confirm the current one on the issuer's page before applying.