What is Amex Cobalt?
Amex Cobalt is a credit card available to Canadians. In this review we cover everything you need to know: features, fees, interest rates, how it compares to alternatives, and whether it is worth signing up for in 2026.
With the Canadian financial landscape evolving rapidly, digital-first products continue to gain market share from traditional banks. Amex Cobalt has positioned itself as a competitive option, particularly for tech-savvy consumers who value convenience and transparency.
Key Features
- 5x points on food/drink — This is one of the standout features that sets Amex Cobalt apart from competitors in the Canadian market.
- Best earn rate in class — This is one of the standout features that sets Amex Cobalt apart from competitors in the Canadian market.
- Flexible point transfers — This is one of the standout features that sets Amex Cobalt apart from competitors in the Canadian market.
- Monthly fee (no annual lump) — This is one of the standout features that sets Amex Cobalt apart from competitors in the Canadian market.
Rates and Fees
Interest rate: N/A
Monthly fee: $12.99/mo
Compared to the Big 5 banks in Canada (RBC, TD, BMO, CIBC, Scotiabank), Amex Cobalt generally offers more competitive rates with lower fees. This is typical of digital-first financial products that have lower overhead costs.
Pros
Cons
Not accepted everywhere
$12.99/mo adds up
Points value varies
Who is Amex Cobalt Best For?
Amex Cobalt is ideal for Canadians who want a modern financial product with competitive rates. It works particularly well for:
- Young professionals looking for low-fee options
- Students who need no-minimum-balance accounts
- Newcomers to Canada who need quick, easy account opening
- Anyone wanting to maximize their savings rate
How Does Amex Cobalt Compare?
In the competitive Canadian market, Amex Cobalt holds its own against major alternatives. For the highest interest rates available, KOHO offers a $20 signup bonus + $100/referral on savings with their Everything plan. Use referral code 45ET55JSYA to get a signup bonus.
Our Verdict
Amex Cobalt earns a solid recommendation for Canadians in 2026. Its combination of 5x points on food/drink and best earn rate in class makes it worth considering. For maximum value, consider pairing it with a high-interest savings account like KOHO.