American Express Canada · Travel & dining rewards card · American Express
The Amex Cobalt has been Canada's best rewards card for six straight years. 5x Membership Rewards points per dollar on groceries, restaurants, UberEats, and Skip — the highest multiplier in the country on the categories Canadians spend most on. A foodie household easily clears $900+/year in net value after the $156 fee.
The Amex Cobalt launched in 2017 and quickly became the standard against which every other Canadian rewards card is measured. Eight years later, no card has matched its earn rate on the categories that matter most to everyday Canadian households: groceries and restaurants.
You earn 5 Membership Rewards points per dollar at eligible Canadian grocery stores and restaurants — including takeout, food delivery (UberEats, Skip, DoorDash), and most dining-adjacent purchases. That's 5% back in points value, which translates to roughly 6.5¢ per dollar spent at average redemption rates.
The card also earns 3x on transit (TTC, GO, Uber rides, taxis) and gas (Petro-Can, Shell, Esso), 3x on streaming (Netflix, Disney+, Crave, Spotify, Apple TV+), and 1x on everything else. The Membership Rewards program is one of Canada's most flexible — you can transfer points to Marriott Bonvoy, Hilton Honours, British Airways Avios, and a dozen other partners, or redeem directly for statement credits at 1 cent per point.
Where the Cobalt loses points: the 2.5% FX markup on foreign purchases (no FX-free benefit), no lounge access, and the fact that Amex is accepted at roughly 93% of Canadian retailers — meaning you'll occasionally need a backup Visa or Mastercard for tap-only POS terminals and some independent merchants.
For most Canadian families, those gaps are easily worth absorbing. A household spending $1,200/month on groceries + dining earns 6,000 points/month or 72,000/year — that's $936 in annual point value. Subtract the $156 fee and you net $780/year in rewards on purchases you were already making anyway.
Earn 2,500 bonus Membership Rewards points each month you spend at least $750 in eligible purchases on the card, up to 30,000 points over your first year. This is one of the most achievable welcome offers in Canada — average grocery + dining spend hits the threshold automatically.
Here's exactly what you earn per dollar across every category — and where this card pulls ahead of the field.
Loblaws, Sobeys, Metro, Whole Foods, Costco (via FareSetter)
Sit-down, takeout, UberEats, Skip, DoorDash
TTC, GO Transit, Uber, taxis, Petro-Can, Shell, Esso
Netflix, Disney+, Crave, Spotify, Apple TV+
Flights, hotels, car rentals booked direct or via Amex Travel
Standard earn rate on all other eligible purchases
Beyond the rewards, here are the perks worth knowing about.
$100 USD credit on prepaid bookings at The Hotel Collection (2-night minimum) — works out to $135+ CAD effective.
Up to $5M emergency medical for trips up to 15 days (under age 65). Auto-applies when you book travel with the card.
Up to $1,500 per person ($6,000 max per trip) when booked with the card.
Collision damage waiver up to $85,000 vehicle value (~95% of rental cars). Decline the rental agency's coverage.
90 days against theft or damage on new purchases. Extended warranty doubles manufacturer warranty up to 1 year.
Pre-sale and reserved ticket access to concerts, theatre, and sports events through Ticketmaster.
The numbers that show up on your statement.
We pitted this card against its closest rivals.
4% on groceries and gas. Better for low-fee seekers ($120/year), but lower category multipliers.
Cobalt wins on rewards4% on groceries, 2% on gas. $120/year fee. Lower earn rates than Cobalt.
Cobalt wins on rewards2x on groceries, 1x everything else. $250/year fee. More premium but slower earn.
Cobalt wins on valueThe eligibility checklist before you hit the application button.
Every Canadian household that spends $500+ a month on groceries and dining should hold this card. The math is undefeated: a $1,200 monthly food spend earns 6,000 pts/mo = 72,000/year ≈ $936 in value. After the $156 fee, you net $780/year for purchases you were going to make anyway. Pair it with a Rogers Red World Elite for FX-free travel spend and you have the complete Canadian wallet.
Apply for Amex Cobalt ↗What current and former cardholders are saying. Aggregated from Trustpilot, Reddit (/r/PersonalFinanceCanada), and our own community comments.
Switched from CIBC Dividend after years of overpaying for rewards. The 5x on UberEats alone earns me 18,000 points a year. App is gorgeous and the monthly fee billing is genuinely easier on the budget than annual.
Hit the welcome bonus by month 3. Used 50,000 points to book a Marriott Bonvoy night in Banff that would have cost $440 cash. Crazy value if you transfer instead of cashing out at 1 cpp.
Love it but the FX hurts. Travel to U.S. 4-5x a year for work. Pair with Rogers Red World Elite for FX coverage and the combo is perfect.
En tant que famille de 4, on dépense facilement 1500$/mois en épicerie + resto. Le Cobalt nous rapporte plus de 1000$/an en valeur. Aucun autre carte au Canada peut faire ça.
Amex acceptance is still a problem in smaller cities. Three of my regular places don't take it. Great rewards, but I still pull out my Tangerine for half my transactions.