Reviewed by Jen, founder of MoneyMint · Updated September 25, 2026
American Express Cobalt Card
Our take: strongest for groceries and dining — about 8.5% back in value (est.) for $192 a year, plus a welcome bonus we value at roughly $255.
#1 Best overall#1 Everyday spending#1 Travel#1 Rewards#1 Groceries#1 Restaurants
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The American Express Cobalt Card is Amex Canada’s everyday-spending card, earning bonus Membership Rewards points on dining, streaming, and transit purchases. Its benefits package is stronger than you’d expect for a card at this level, with a broad suite of travel and purchase insurance and points that transfer at roughly 1:1 to Aeroplan and Avios. It pays off best for spenders who consistently spend in its bonus categories — otherwise, the fee can outweigh the rewards.
MoneyMint rating
#1 of 30 travel rewards cards · How we rate
≈ $1,144
estimated first-year value after the annual fee, on a typical $2,050/month budget. Points are converted to dollars using MoneyMint’s own valuations — see our points value calculator for how each program is valued. See it for your spending →
Not Sure? Three Cards People Compare It With
Scotiabank Gold American Express Card
Pick this instead if you spend abroad — it has no foreign transaction fee.
Fee $120Rating 4.7 ★Bonus $500
BMO CashBack World Elite Mastercard
Pick this instead if you want a bigger welcome bonus (~$650 est.).
Fee $139Rating 4.8 ★Bonus $650
National Bank World Elite Mastercard
Pick this instead if travel insurance matters more to you.
Fee $150Rating 3.9 ★Bonus $0
Further Reading
American Express Cobalt Card
Best for groceries and dining · $192/year · ~$255 welcome bonus (est.)
This is general information, not personalized financial advice — consider your own spending habits and consult a professional for decisions specific to your situation. Rates, fees, and offers are set by American Express and can change without notice; always confirm current terms on the issuer’s official page before applying.
Frequently Asked Questions
Does the American Express Cobalt Card have an annual fee?
There’s no traditional lump-sum annual fee. Instead, it’s billed monthly at $15.99, which works out to $191.88 per year — higher than plenty of competing rewards cards with a single, clearly stated annual fee in a similar range.
What is the welcome bonus on the American Express Cobalt Card?
Up to 15,000 Membership Rewards points in the first year, earned in installments of 1,250 points per monthly billing period when you spend at least $750 that month, up to a total of $9,000 in spend to earn the full bonus. Current or former Cobalt cardmembers are not eligible for the welcome offer.
What credit score do you need for the American Express Cobalt Card?
MoneyMint’s research places the recommended credit score in the “Very Good” range. Amex does not publish an exact minimum score, so this is a general guideline rather than a guarantee of approval.
Does the American Express Cobalt Card charge foreign transaction fees?
Amex converts foreign-currency charges through its currency-conversion affiliate and adds a conversion commission, which works out to about 2.5% — in line with most Canadian-issued cards. Amex sets the exact figure out in the Information Box and Disclosure Statement you receive when you apply rather than on the card page, so check it there if you plan to use the card abroad.
Does the American Express Cobalt Card include airport lounge access?
No. The Cobalt Card doesn’t include airport lounge access, and its travel insurance coverage is more limited than higher-tier Amex cards like the Platinum Card.