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American Express Cobalt Card Review

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American Express Cobalt Credit Card

American Express Cobalt Credit Card

Rated 4.1/5 stars.

  • 5pts Earn 5x the points on food and drinks, including restaurants and food delivery purchases.
  • 3pts Earn 3x the points on streaming subscriptions including Netflix, Disney+, and Crave.
  • 2pts Earn 2x the points on travel and transit including flights and public transportation.
  • 1pt Earn one point on all other purchases.

The American Express Cobalt credit card is a smart option for those looking for a simple way to earn rewards points for everyday purchases.

In this American Express Cobalt Review, we cover everything you need to know about the credit card before deciding if it’s right for you. Read on for our in-depth look at the American Express Cobalt card including a deep-dive into the card’s rewards offerings, included insurance coverage, and eligibility requirements.

American Express Cobalt: an overview

While some credit cards only offer membership rewards on travel or other pricier purchases, the Cobalt card rewards you for purchases you’re already making, including meals in restaurants, food delivery, eligible streaming subscriptions like Netflix and Disney+, and all forms of travel, including public transportation.

The card’s $12.99 monthly price tag will get you a competitive insurance package featuring travel insurance (up to $5 million in eligible expenses), mobile device insurance, and much more.

American Express Cobalt rewards

As a travel credit card, the American Express Cobalt card lets you earn Membership Points on all purchases, which you can then redeem for almost anything. Here is the break down:

The American Express Cobalt card earns you 5 points on:

  • Food and drink
  • Restaurants
  • Food delivery purchases, for when you’d rather dine at home

3 points on:

  • Eligible streaming subscriptions like Netflix, Disney+, and Crave

2 points on:

  • Eligible travel and transit including flights and public transportation

1 point on:

  • All other purchases

1 bonus point on:

  • Every dollar spent on eligible hotel and car rental bookings via AMEX Online

Once you begin earning points, 1,000 Membership Points earn can be redeemed for $10 off almost any purchase you make with the American Express Cobalt card.

New Cobalt card members can also receive up to 30,000 bonus Membership Points within the first year via the current welcome offer. You can earn up to 2,500 additional points per monthly billing period when you spend $500, for up to 30,000 bonus points for the year.

Membership Points can also be redeemed for travel via the American Express Fixed Points Travel Program, which allows you to book flights for a fixed number of points (up to a maximum ticket price per flight category).

For example, a short-haul return flight from Canada to New York is 15,000 Membership Points (based on a maximum ticket price of $300). You can pick any flight on any date, and the required points won’t increase, allowing you to begin planning your next trip far in advance. Long-haul flights within Canada (or from Canada to the U.S.) are 40,000 points (up to a base ticket price of $800), while flights to Europe are 60,000 points (with a maximum ticket price of $900).

Unfortunately, though, the American Express Cobalt card does not include airport lounge access. If you’re looking for an AMEX card that does, try the AMEX Platinum card. It includes The American Express Global Lounge Collection, providing access to 1,300 airport lounges in 140 countries.

American Express Cobalt eligibility

To apply for the American Express Cobalt card you need to be a Canadian resident of the age of majority in the province or territory you reside in. You also need to have a credit file that establishes your credit rating and your employment status. The recommended credit score for this card is 660+.

While there is no set minimum income requirement for the American Express Cobalt card, your credit history needs to be in good standing in order to be approved. And you should be prepared for the possibility of an income check during the application process.

American Express Cobalt interest rates and fees


  • Annual fee: $155.88
  • Foreign transaction fee: 2.5%
  • Extra card fee: $0
  • Cash advance fee: $2.75

Interest rates

  • Purchases: 20.99%
  • Cash advances: 21.99%

The card charges 20.99% interest on all your purchases and 21.99% on cash advances. However, if you miss your monthly payments, the interest rates increase to 23.99% for purchases and 26.99% for cash advances, so be sure to pay your bill on time.

American Express Cobalt perks

In addition to a high-earning rewards program, the American Express Cobalt Card allows you access to invaluable travel perks and redemption options.

  • Flexible reward redemption

    Redeem Membership Points for credit off nearly anything you buy. Once you earn 1,000 Membership Points, you can redeem them for $10 off nearly all purchases made with your Cobalt card.

    You can also save them and redeem them for a larger expense including a trip, or anything else you’ve had your eye on.

  • Wide-ranging insurance plan

    The American Express Cobalt Card features travel insurance including emergency medical, flight and baggage delay, lost or stolen baggage, travel accident, hotel burglary, and car rental theft and damage insurance.

    Mobile device insurance and purchase protection are also included up to $1,000 each.

  • Exclusive offers and events

    Cobalt Cardmembers get access to complimentary offers and events including more points at specific retailers like Indigo and Amazon, as well as complimentary yoga classes, workshops, and early admission to local entertainment.

  • Hotel credits and upgrades

    By staying at select hotels for two or more nights in a row, you’re eligible for up to $100 USD to put toward dining on site or spa services that are charged to your room.

    You’re also welcome to a room upgrade upon check-in if an extra unit is available.

Compare American Express Cobalt alternatives

Our Pick
American Express Cobalt Credit Card

American Express Cobalt Credit Card

  • Welcome Offer Up to 30,000 Membership Points
  • Annual Rewards $1029
  • Annual Fee $155.88
  • Minimum Income Required None
CIBC Aventura Visa Infinite

CIBC Aventura Visa Infinite

  • Welcome Offerr Up to to 35,000 Aventura points
  • Annual Rewards $386
  • Annual Fee $139 (first year rebated)
  • Minimum Income Required Individual: $60,000 Household: $100,000
RBC Avion Visa Infinite

RBC Avion Visa Infinite

  • Welcome Offer 30,000 Avion points and up to 20,000 additional points on a $5,000 spend within the first 6 months
  • Annual Rewards $292
  • Annual Fee $120
  • Minimum Income Required Personal: $60,000 Household: $100,000

Our final thoughts

The American Express Cobalt card is a great option for those looking for a card with a robust rewards system that won’t break the bank. If you go out to eat or get food delivered to your house often, subscribe to more than one streaming service like Netflix or Disney+, and like to travel, this card will offer significant payback.

If this doesn’t sound like you, there are many other great credit cards that may cater to your spending habits.

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