⭐ Editor's Choice — Top Rated Pick
American Express Cobalt® Card (Canada)
📍 Available in: Canada
★★★★★ 4.9 / 5.0
The American Express Cobalt® Card is widely considered the single highest-earning rewards card in Canadian history. It awards 5x Membership Rewards® points per $1 CAD spent on eligible restaurants, bars, cafes, food delivery apps (Uber Eats, SkipTheDishes, DoorDash), and grocery stores in Canada (up to $2,500/month, or $30,000/year), plus 3x points on streaming, 2x on travel/gas/transit, and 1x on everything else. Because Amex Canada points transfer 1:1 to Air Canada Aeroplan and British Airways Avios (where 1 Aeroplan point is worth ~2.0¢ CAD), 5x on groceries and dining equals an astonishing ~10% effective travel return.
Key Facts at a Glance
| Cost / Fee Structure | $12.99 CAD / month ($155.88/year) |
| APR / Rate | 21.99% Purchases / 21.99% Cash Advances |
| Sign-Up Bonus / Match | 15,000 Points (1,250 pts/mo with $750 monthly spend) |
| Credit / Eligibility | Good (680+ Equifax/TransUnion • No Minimum Income) |
Pros & Cons
✓ Pros
- ✓Spending $1,000/month on groceries and dining earns 60,000 Aeroplan points/year—worth ~$1,200 CAD in flights against a $155.88 annual cost
- ✓No $60,000/$100,000 minimum income barrier (unlike Visa Infinite or World Elite Mastercards)
- ✓1:1 transfers to Air Canada Aeroplan unlock business-class award flights across Star Alliance
✕ Cons
- ✕Loblaws, No Frills, Real Canadian Superstore, and Costco Canada do not accept American Express (use at Metro, Sobeys, Safeway, FreshCo, Whole Foods, and Farm Boy)
- ✕5x grocery/dining multiplier only applies to merchants located inside Canada (earns 1x abroad + 2.5% FX fee)
Key Features
5x Membership Rewards Points on Canadian Groceries, Dining & Food Delivery (Up to $2,500/mo)1:1 Point Transfers to Air Canada Aeroplan, British Airways Avios & 1:1.2 to Marriott Bonvoy3x Points on Canadian Streaming Subscriptions + 2x on Gas, Transit & TravelBilled Monthly ($12.99/mo) Instead of a Lump-Sum Annual Fee + $0 Minimum Personal Income RequirementComprehensive Out-of-Province Emergency Medical, Flight Delay & Mobile Device Insurance ($1,000)
Compare American Express Cobalt® Card (Canada) Side-by-Side
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