If I could only keep one card for everyday spending, this would be it. Restaurants and food delivery are where a lot of our points come from.
Quick facts
| Card fee | $15.99/month ($191.88/year); billed $191.88/year for Quebec residents |
| Welcome offer | Up to 15,000 MR points: 1,250 points each month you spend $750 in your first year |
| Earn rates | 5X on eats & drinks in Canada; 3X on streaming; 2X on gas, transit & ride share in Canada; 1X on everything else; +1 on Amex Travel Online hotel/car |
| Interest | 21.99% purchases / 21.99% funds advances |
| Extras | Up to $60/yr in Instacart credits until Dec 31, 2027; Mobile Device Insurance up to $1,000 |
| Foreign transaction fee | 2.5% |
Source: https://www.americanexpress.com/en-ca/credit-cards/cobalt-card/. Verified on official Amex pages on October 21, 2026. Offers change often, so always check the issuer’s page before applying.
What I like
- Best everyday earn rate in Canada for food
- Monthly fee makes it easy to try
- Points are fully flexible Membership Rewards
What to watch
- Welcome bonus is spread over 12 months
- 5X has an annual spending cap; check Amex’s terms for the current amount
- 2.5% FX fee
My take
Good fit if the fee and spend line up with your real life. If it does, I’d be grateful if you used my link below.
Heads up: some links on this page are my personal referral links. If you are approved through one, I may earn points at no cost to you. Full disclosure.