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American Express Cobalt® Card Review

Credit Acceptance:

Card Network:

AMEX

Good to Excellent

660-850

Up to 30,000 MR Points

Signup Bonus

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Income Requirement:

N/A

9.5/10

Our Rating

Card Type

Points

Annual Fee

$155.88

Institution

American Express

Interest Rate

20.99%

Earning Rewards

5 points for every dollar in Restaurants, Fast Foods, Coffee Shops, Food delivery and Groceries up to 150000 points

3 points for every dollar on eligible streaming subscriptions in Canada

2 points for every dollar used in standalone gasoline stations, travel services or local commuter transportation in Canada including ride share services

1 point for everything else

EXCELLENT

Redeeming Rewards

What can you do with your rewards?

Transfer to Airline Partners

Fixed Point Travel Program

Transfer to Hotel Partners

Statement Credit

Gift Cards

Merchandise

What's a good redemption?

Amex points, often referred to as MR (Membership Reward) points are one of the best redeemable points amongst all credit cards due to being very flexible and transferable.


The best redemption route for the Amex Cobalt is for travelling purposes, more specifically towards Aeroplan, British Airways and other partner airlines.


Learn more on the American Express website.

EXCELLENT

Insurance & Benefits

Flight Delay

$500

Baggage Delay

$500

Mobile Device

$1000

Purchase Protection

90 days

Hotel Burglary

$500

Extended Warranty

1 year

Baggage Loss or Theft

$500

Car Rental Theft and Damage

$85,000

• Out of Province Medical insurance up to $5 million
• Flight delay and Baggage delay insurance up to $500
• Hotel Burglary insurance up to $500
• Lost or stolen baggage insurance up to $500
• Travel accident Insurance up to $250K
• Car Rental Theft and damage insurance up to $85000
• Mobile Device Insurance up to $1000
• Purchase Protection Insurance up to 90 days
• Extended Warranty Insurance up to a year
• Access to American Express Experiences and offers

GOOD

Pros & Cons

Pros

  • Generous welcome bonus of up to 30,000 MR points

  • 4 different ways of redeeming your points for great value

  • 10 different types of insurance, including travel

  • Often referred to as the Best Credit Card in Canada

Cons

  • Less acceptance of American Express at different merchants across Canada