March 8, 2026
Let’s cut right to the chase: the American Express Cobalt is hands down one of the best everyday spending cards in Canada.
I know, American Express? Trust me, I get it. Growing up all, I ever heard was “No one accepts American Express.” For years that mind set stuck with me, but times have changed. As Canadians we have fewer credit card options than our neighbours to the south. Amex Membership Rewards are arguably the most value transferable points available to Canadians.
Once I finally gave the Cobalt card a chance, it quickly earned a permanent spot in my wallet.
How to Earn Points:
Earning Categories:
- 5X points on eats and drinks
- 3X points on streaming subscriptions
- 2X points on gas, transit and rideshare
- 1X points on everything else
My favourite way to earn 5X points? Instacart. You can order from Costco, Superstore, or Walmart (which normally only earns 1X) and still earn 5X points. On top of that, this card includes a $5 Instacart credit every month to help cover your subscription. The credit is $60 yearly split over 12 months.
Streaming subscriptions are another easy win. Just switch your Netflix, Disney +, Spotify or whatever else you’re subscribed to onto the Cobalt card and start earning 3X points.
Gas stations and rideshare purchases earn 2X points, which is a great value.
Welcome Bonus:
The Cobalt card doesn’t come with a big, flashing upfront welcome bonus like most American Express cards. Which might turn some people off at first.
Instead, you earn 1,250 points every month once you spend $750, for the first 12 months. That is a total of 15,000 bonus points.
Is it massive? No. But when you combine the welcome bonus with the strong everyday spend earning categories, this card will earn you a good stockpile of points.
Credits That Actually Get Used:
One underrated perk of the American Express card is the “Offers” section in the Amex app. You can enroll your card for rotating statement credits. Over the past several I have seen offers from brands such as Lululemon, Sephora, Saxx, and TurboTax.
When you take advantage as these offers, plus the Instacart credit they help offset the monthly fee of $15.99 ($191.88 annually).
Transfer Partners: Where Amex Shines
American Express easily has the strongest lineup of transfer partners in Canada. You can transfer points to airlines such as Air Canada, KLM / Air France, Delta, Cathay, Etihad, British Airways. Points can also be transferred to the Hilton and Marriott hotel programs.
Between the high earning potential, transfer partners, and easy to use credits it’s obvious why the American Express Cobalt is my favourite everyday spend card. This card gives you real value for your everyday purchases.
-Alexis