Amex Cobalt Card Canada Review 2025

Amex Cobalt — Quick Summary

$155.88

Annual Fee ($12.99/mo)

5×

MR Points: Eat & Drink

3×

MR Points: Streaming

2×

MR Points: Travel & Gas

9.5/10

bremo.io Rating

Amex Cobalt — Full Earn Rates 2025

Category	Earn Rate	What Qualifies
Eat & Drink	5× MR Points	Restaurants, bars, cafes, food delivery, grocery stores, convenience stores
Streaming services	3× MR Points	Netflix, Spotify, Apple TV+, Disney+, Amazon Prime Video, and more
Travel & transit	2× MR Points	Airlines, hotels, car rentals, Airbnb, trains, taxis, Uber, public transit
Gas stations	2× MR Points	Most Canadian gas stations
All other purchases	1× MR Points	Everything else

Membership Rewards Transfer Partners

MR points are Canada's most versatile travel currency — transfer to airlines, hotels, and more.

Air Canada Aeroplan

1,000 MR → 1,000 Aeroplan

Best for Canadian redemptions. 50,000 MR = Business class YYZ→LHR at great value.

British Airways Avios

1,000 MR → 1,000 Avios

Best for short-haul and Oneworld partner redemptions including American Airlines.

Air France Flying Blue

1,000 MR → 750 Miles

Access KLM, Air France, and SkyTeam partners worldwide.

Cathay Pacific Asia Miles

1,000 MR → 750 Miles

Exceptional for Asian destinations and premium cabin redemptions.

Marriott Bonvoy

1,000 MR → 1,200 Marriott pts

Hotel redemptions and airline transfers via Marriott's transfer partners.

Hilton Honors

1,000 MR → 2,000 Hilton pts

Good for Hilton hotel redemptions across Canada and internationally.

Pros and Cons

Pros

5× on food — highest earn rate in Canada
Transfers to 8+ airline & hotel programs
1:1 Aeroplan transfer — instant and valuable
Monthly fee = easy to cancel or downgrade
No income requirement (unlike most Visa Infinite)
Generous welcome bonus (up to 15,000 MR/month for 3 months)

Cons

Not accepted everywhere (Amex vs. Visa/MC)
$155.88/yr — slightly higher than most $120 cards
Points optimization requires learning effort
No airport lounge access on base card
MR points slightly complex vs. cash back

bremo.io Verdict: 9.5/10 — Canada's Best All-Around Rewards Card

The Amex Cobalt remains Canada's best rewards credit card for most Canadians who dine out and cook at home. The 5× earn on food covers both restaurants AND grocery stores — a unique feature. When transferred to Aeroplan at 1:1, your 5× food earn effectively becomes 5 Aeroplan points per dollar — three times more than what the TD Aeroplan card earns on groceries (1.5×). The only real limitation is Amex acceptance — keep a Visa backup. Pair with KOHO for savings and no-fee cash management.

Frequently Asked Questions

Is the Amex Cobalt worth it in Canada for 2025?

For most Canadians who spend on food: absolutely. A household spending $1,500/month on food (restaurants + groceries) earns 7,500 MR points per month = 90,000 MR annually. Transferred to Aeroplan and used for a business class flight to Europe (requires ~100,000 Aeroplan points), the value is approximately $3,500–$5,000. The annual fee of $155.88 is less than 5% of that value. Even conservative calculations show the Cobalt paying for itself 5–10× over for food-heavy spenders.

Does the Amex Cobalt earn points on grocery stores in Canada?

Yes — the 5× Eat & Drink category includes grocery stores in Canada. This is a key advantage over Amex's US-issued Cobalt equivalent, which excludes supermarkets. Canadian grocery stores (Loblaws, Sobeys, Metro, Safeway, FreshCo, No Frills, etc.) all earn 5×. Warehouse clubs like Costco are typically coded differently and may earn 1× — always check your statement to confirm the earn rate for new merchants.

How much are Amex Cobalt Membership Rewards points worth?

Amex MR points are worth approximately 1¢/point when redeemed through Amex's travel portal (American Express Travel). When transferred to Aeroplan, they typically yield 1.5–2.5¢/point in flight redemptions. For business class long-haul via partner airlines (JAL, Singapore, etc.) using Aeroplan, MR points can be worth 4–6¢/point. Always transfer to airline partners for best value — never redeem MR as statement credits (0.5¢/point) or merchandise.

Is Amex accepted everywhere in Canada?

Amex is accepted at approximately 90% of Canadian merchants — but that 10% matters. Costco Canada does NOT accept Amex. Some smaller restaurants, gas stations, and local businesses only accept Visa/Mastercard. Amex acceptance has improved dramatically in Canada over the past decade, but carrying a no-fee Visa or Mastercard (like Tangerine or KOHO) as backup is recommended for the edge cases where Amex is declined.

What is the Amex Cobalt welcome bonus for 2025?

The Amex Cobalt welcome offer in 2025 typically provides 1,250–2,500 bonus MR points for each month you spend $500+ in the first 12 months — totalling up to 30,000 bonus MR points over the first year. The offer structure changes periodically; Amex sometimes runs enhanced offers (up to 45,000 bonus points) through referral links and targeted promotions. Always check the current public offer at amex.ca and compare to any referral offers before applying.