American Express Cobalt - The BEST Credit Card In Canada (2024)

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This is probably the BEST CREDIT CARD IN CANADA! My friends, today we break down the absolutely legendary American Express Cobalt Card and like most thing Amex makes, it's insanely dope!
We go over all the points and perks and I talk about whether or not you should get the American Express Cobalt Card so enjoy!
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Check out this page for future content on the best credit cards in Canada, credit card reviews, american express cobalt vs, cobalt american express, american express cobalt review, american express cobalt canada, american express cobalt approval, scotiabank gold american express card vs amex cobalt, sala vip american express cobalt, american express cobalt card, american express cobalt card review,american express cobalt card credit limit,american express cobalt 2022, american express cobalt card canada ,american express cobalt and all kinds of Amex content in the future!

[@TheTubeMeister]

I have this card. I received it in April and I’ve already earned over 40k points. Amazing card, and in my opinion the best credit card in Canada. It’s my go-to for everything. Then I pay it off immediately.

[@loganhermus7904]

Thanks for the helpful video. That bit at the end about No Frills not accepting Amex was super helpful and saved me a lot of time

[@newmoneynate]

Of course my man and thank you so much for the support of the channel! Are you not getting it then?

[@loganhermus7904]

@@newmoneynate Anytime, thank you for the helpful content. I think I might still get it. It is so highly reviewed by so many sites and has such good insurance! I will just have to use my RBC ION for groceries at my local Loblaw's grocer. Thank you again, God bless 👏🏼

[@newmoneynate]

@@loganhermus7904 no worries brother!! Take care and all the best with everything! 😁

[@ajaykumargoel9398]

Excellent insights as usual Nate!

[@newmoneynate]

Thank you man!!

[@danielkavan2228]

I have this card and love it. $200 spent in a restaurant or supermarket is 1000 MR points or 1200 Marriott Bonvoy points. It adds up fast!

[@racemode]

Thanks for the content. I used your link

[@newmoneynate]

Thank you brother!!

[@ShomudroGupto]

Thanks for the great video Nate! Solid card indeed. I applied for it yesterday, and saw your video pop up on my feed! Would’ve loved to have given you the referral!

[@reblfleur16]

Great video and explanation! The sign up bonus has been halved to 15,000 points. Knowing this info, would you still recommend it over the gold? Gold is now 70,000 points

[@charu002]

oh yes! i got it as well! i'm spending all my purchases there! there's only one time i was rejected to use amex, but i'm gonna say it's a small business. let's make them save that extra fees. i like them so i don't mind because of my current income, i can't reach the aeroplan visa infinite yet. maybe after a few months after i did 3rd apprentice, i'll be able to reach that 60k salary minimum. so i try to use as much as i can on amex cobalt because of 1 point on everyday purchases. yeah i have the cibc aeroplan visa card

[@Canuck204]

I have the Cobalt card and it’s awesome. I also applied for the Platinum one and got approved on that. Will use that for strictly travel.

[@newmoneynate]

Amazing man!! Good luck with everything!

[@Canuck204]

@@newmoneynate thanks man! The Cobalt is a MR points machine! The Platinum card is basically a travel card for me, I applied for the hotel gold status and priority pass enrolment. Amazing stuff.

[@ArturNightFury]

How is the acceptance rate in Canada? Like I know you can be racking up points a ton with it, but what if you cant even use it?

[@Canuck204]

@@ArturNightFury Amex is accepted in Canada, major retail and restaurants accept it plus some small business too. It’s not too hard to find a place that does accept it.

[@cinnamonpuppie7880]

@@ArturNightFury good point. grocery stores are also picky with AMEX, but luckily for me I use InstaCart (which accepts AMEX), and AMEX recognizes InstaCart purchases valid for 5x points.

[@Michael-uo4jj]

this card is fucking amazing only problem is not everyone accepts it so you need another credit card other than that #1 1000 points is $10 so 30,000 is $300 if you choose to use points to cash and the icing on the cake is free extra cards because i can give them to my parents who cannot get credit and they pay me so lets just say i rack the points up and gives my parents access to money they otherwise wouldn't have.

[@5tup3ndou5]

Can vouch for this card, the rewards and benefits alone make it worth getting. Was able to use points for an amazing hotel experience in downtown Vancouver, where the dollar cost would have been astronomical! A $100 hotel credit was also included, which was used for a very nice room service breakfast. Can't recommend it enough!

[@kimblem.w9952]

Nice! Usually you'd have to step up to the gold card for $100 travel credit. Getting that from the Cobalt card makes the deal even sweeter.

[@umani9983]

So will this card be good for spending US dollars when traveling to the US? Like will i be able to pay the balancd off with US dollars or Canadian dollars depending on what i spend without having to worry about conversion rate each purchase?

[@mehdimoumen621]

can you do a detailed comparison between Cash Preferred vs this Cobalt card? As these are the two most popular starter cards

[@dougpatterson7494]

You consider these starter cards? My first Amex was the simplycash and I currently have the simplycash preferred. I’ll downgrade back to “Simplycash” when my one year is up as i don’t spend enough to justify the cost of the simplycash preferred or cobalt cards. If I bought all my fuel at gas stations taking Amex it would be worth it for me. I now have a card-lock card that gets me 5-13% discount relative to retail gasoline prices but I can’t pay with Amex. I still get decent value for points with my RBC Ion + Visa.

[@mazinbacker5807]

Do you recommend this for international students?

[@kingkenzo]

10k boyszzzz

[@rowelljoseph]

how do i know which hotels apply for that upgrade and $100 credits

[@tedroxs]

Love the video! I just got the card and had a question that I couldn't easily answer by Google. How does the flight delays, baggage loss/theft policy work with the amex cobalt card? Am I covered by their policy so long as I buy the plane tickets using the amex card or do I need to buy into their travel insurance policy or something?

[@newmoneynate]

Thank you man appreciate you!! I believe it’s good as long as you use the card for the purchase 😁 you can always reach out to Amex’s customer service to clarify!

[@callouu3601]

Do you think go with the RBC Ion+ and Infinite Privilege or Cobalt and Platinum together? All groceries are from Costco and T&T so no Amex unless eating out. Thanks!

[@newmoneynate]

It’s whatever combo works best for you brother!! There isn’t a “superior” one though I do tend to love Amex Cards

[@king_sam272]

What’s a good credit card to pair up with it? Like where amex isn’t accepted, is there one you recommend to use instead, which is also able to accumulate points and combine with ones from amex?

[@RG3FC333]

i got an aeroplan visa, my amex points get converted to amex so they work together

[@beauchampfrancois151]

No one takes Amex where I live. Learned from a business owner that they charge double what other charges... their fees are too high and since no one accepts it... I didn't take it. Used to have one a long time ago, I could never use it.

[@mrbsebt]

please review amex cobalt vs platinum!!

[@newmoneynate]

I’ll definitely keep that in mind!! Thanks so much for the suggestion 😁

[@cathapoonie]

can you do a comparison video to the td aeroplan visa infinite

[@newmoneynate]

Coming out soon!

[@Dom_bond]

Man wish we had this in the states😮

[@newmoneynate]

Y'all have some amazing cards in the states! Hit up my boy @johnliang on KZbin for his recommendations - I've heard the capital one venture x is DOPE!

[@toreel1256]

Venture x is one of the best, its perfect for travelling and you get 300-400 in travel credit every year!

[@koolaidpuc]

Can you have multiple credit cards associated with the same aeroplan account number ? For example, have a td aeroplan Visa card and this Amex cobalt card and link both of them with your aeroplan account number ? Or will you have to create two separate aeroplan account numbers ? Great video. Thanks.

[@newmoneynate]

Hey brother! Great question. So you convert the points to Aeroplan. So you’ll have a separate aeroplane account then if any credit card or company is affiliated with them (like Amex MR, TD etc) then you just transfer over the points. I don’t believe there’s any limit to having partners. Hope that helps!

[@koolaidpuc]

@@newmoneynate this didn’t answer the question. I think you can have multiple credit cards associated with one aeroplan account number. You just have to give the credit card companies the same aeroplan account number for every card to be linked on that same aeroplan account. Thanks.

[@newmoneynate]

@@koolaidpuc that’s what I was saying. You can have one aeroplan account - you don’t need to create separate ones for separate partners. It can all be linked back to the same one!

[@embassyf1416]

@koolaidpuc I am thinking b/w TD Aeroplan Visa card vs Cobalt card. What would be you suggestion b/w the two? TD card has a 1 year wavier on annual fees while cobalt doesn't.

[@koolaidpuc]

@@embassyf1416 I got both for their promotional points offers and different perks. And by the way, you can have that annual fee on the TD card exempted every year as long as you maintain a monthly balance of 5000$ in a td checking account.

[@Volfas]

woah, amex is not accepted at superstore? I was considering to get amex simply preferred, but since I shop at superstore, and costco quite a bit, kinda makes me wonder if it's even worth it now.

[@newmoneynate]

As of right now I don’t believe so! But that may change. Totally up to you!

[@rohanhenry3183]

I thinking of pairing my Amex Platinum business with a ScotiaBank amex gold ( no foreign tx fee) for travelling abroad, what’s your insight? I don’t need the passport at a higher fee, and lounges tickets ( already have amex platinum for that) , but I’m also worried about amex acceptance internationally, what are your thoughts?

[@dougpatterson7494]

It depends where you are travelling. I have found that American Express is more accepted in Europe than Canada, at least in tourist destinations. Obviously in the US Amex is more accepted than Canada. This was in 2015, before I had an Amex myself.

[@randomguy4116]

Is the Amex card in USD or CAD? If I have to pay back, wouldn't it cost more to pay in CAD?

[@lifeofcurtisc2729]

"If you spend 4,000 dollars a month?" That's like 70,000 gross income, at least in Ontario.

[@newmoneynate]

Just an example - can also be for a family with dual incomes!

[@likeasambud9817]

Some of us are rich lol

[@valsudbury]

Great video! it seems does not offer lounge access at airports for free, correct? Checked this card online and could not find access to lounges, please let me know if this is the case. Thank you.

[@newmoneynate]

Unfortunately not! But there are other cards out there that do - vid coming soon about lounge cards!

[@valsudbury]

@@newmoneynate thanks!!

[@User-hy1gi]

Can these points be used with Turkish airline?

[@tomasrosal]

Nice video man! I am an international student in Vancouver with 750 credit score, but I only have 4 months of age credit. Do you think I can still get accepted? Hope you can answer to me

[@newmoneynate]

Hey brother! Not sure but it’s worth a try!

[@kingkenzo]

Let’s gooooooooooooo

[@newmoneynate]

Binzoooo

[@ronchakola1805]

30000 points equates to $300 as per official American Express website, not $600.

[@newmoneynate]

I said 2020 in the beginning but meant 2023 y'all! :)

[@tigerior]

or 2023?

[@newmoneynate]

@@tigerior both hahah!

[@shadowrealm7858]

It gets better! Buy gift cards at a grocery store and always get 5x!!!! Lol i buy a pre-paid credit card and use that while i get 5x all the time! Nice hack!

[@netanyahinojosa]

Any opinions on the amex gold card?

[@newmoneynate]

I think it’s a good middle road of the platinum and cobalt - really up to the person!

[@sameermalik9]

Booking a room would also maximize the value or do you mean airline ticket when you say ‘travel’? Please respond.

[@newmoneynate]

With things like the Hilton and Marriot programs, hotels are great value too!

[@sameermalik9]

Thank you for your response! Have a great day!

[@camillegroulx7420]

at 0:37, which grocery stores in Canada accept amex cobalt? I saw that No Frills and Freshco don't accept it. kindly correct me if I am wrong.

[@newmoneynate]

Sobeys, Walmart, Food Basics, Metro and several others! Costco and most loblaws stores dont.

[@camillegroulx7420]

@@newmoneynate Oh ya, that's right. Thanks for letting me know.

[@Willburrrrr]

@@newmoneynate I just read the FAQ on Food Basics website this is incorrect. “1.2 WHAT FORMS OF PAYMENT DOES FOOD BASICS ACCEPT? Our payment options are cash, debit or Visa, MasterCard, and American Express credit cards and Visa, MasterCard and American Express prepaid bank gift cards.”

[@Willburrrrr]

@@newmoneynate This would also apply to Metro. So only the loblaws owned grocery stores don’t accept Amex.

[@newmoneynate]

@@Willburrrrr I think you should reread what I said haha. I said they do accept it.

[@cameronbarron]

Love my Amex card. Maybe not the best card if your careless with spending tho. You don't know what your limit will be until you get approved and my first card had a 10,000 limit with just a credit of 688 hah

[@newmoneynate]

Hahah exactly! That’s awesome!

[@shivamarora7000]

Bro, my credit score is the same, im thinking of applying, you probably had another credit card before this, what was the limit on that, just curious because i might be in the same boat

[@cameronbarron]

@shivam arora I have a capital one with a 2500 limit..had that for two years..perfect payment score on that and my phone bill

[@cameronbarron]

@shivam arora if you apply can I reference you? I get 75k points if you get approved

[@alanking7582]

What is your yearly income

[@shibbyjim]

Wabt this card but tge welcome bonus sucks now

[@bhargavipatel8394]

it is hard for me to make a decision between gold and cobalt!!!!!! can you suggest anything?

[@newmoneynate]

Check out my video on the gold! I tend to think the cobalt is better but it really depends on what your needs are!

[@ritchtravel1627]

Do you get any lounge access with the cobalt?

[@tommyayala9388]

Nop so not the best for travels in this sense but still an amazing card

[@Visreal_Gaming]

I've been watching many videos on what's a good credit card in Canada I have not seen any reviews for Capital One cards are they really that bad?

[@newmoneynate]

I am not too familiar with them - but from my understanding they are okay - their cards in the states are fantastic.

[@JafferManiar]

I believe Capital One in Canada is now focusing on people with low income and damaged credit.

[@emmmuuuu]

Just curious how the 30000 points converts to $600? For me online right now it says 30000 points equals $300. Wondering if they made a recent change or why it is so different from what you see

[@Kyonak]

when it's converted to Aeroplan points it's worth 600

[@emmmuuuu]

@@Kyonak I didn’t know that. Thanks!!

[@MrMicopa]

Is this one better than American Express platinum ?

[@newmoneynate]

They are two different cards - this one is more so for spending, plat is more so for perks

[@JimLahey_and_Blulian]

Just got approved for 12K. Excited to try this card out

[@newmoneynate]

Amazing!!!

[@shivamarora7000]

What was your credit score? Im thinking about applying but dont want to get refused

[@nemo_abu1802]

I am an 18 year old kinda broke with part time job is it worth it struggling to do the math and prolly wont travel anytime sooon, so is it still worth it for me or is there better options?

[@newmoneynate]

Maybe start with another more every day card to build credit then get this! Up to you tho - you can try for this if you’d like, but it’s wise to have also have another visa or MasterCard as they are more accepted!

[@dougpatterson7494]

I agree with Nate! There is probably a decent “mid-tier” rewards card (Visa or MC) you can get through your bank that is a better option than an Amex. I started with an RBC Signature Visa (now replaced by the Ion Visa) and a Tangerine Cash back Mastercard. I recommend sticking with one, maybe two, no fee credit cards for the first few years and always pay in full, on time. I was pretty excited when I was upgraded to the “Tangerine World Mastercard” before I made 60k/year, the typical minimum income requires for a World Mastercard. I haven’t been able to take advantage of the airport lounge access it gives you but I definitely like the phone insurance it provides. I don’t think there is a better “no fee” rewards credit card in Canada.

[@emmanagbalugo4465]

@@dougpatterson7494 if you dont mind me asking, what do you think it was that allowed you to upgrade to the World mastercard? I didn't even know it was possible to upgrade before the 60k mark

[@iKabirF]

When I click to sign up for the card with 52,000 bonus points, the Amex page asks for an RSVP code - what is that code?

[@newmoneynate]

So to get the extra 22,000 points, you just have to sign up for a credit karma account which is free. It’s up to you if it’s worth it but there’s no real cost other than them doing a soft check on your credit. Once you create the account, you’ll find the promo and it’ll give you a RSVP code

[@Shazaibism]

how to get 52000 points

[@Shazaibism]

@@newmoneynate cant seem to find the promo

[@newmoneynate]

@@Shazaibism you have to sign up through a credit karma account! If it’s not there anymore, it may have expired!

[@iamspence27]

Great card but not all not all places accept amex :(

[@newmoneynate]

I rarely have an issue with mine here in Canada! Sure maybe the odd small business but I’m telling you it’s waaaay better than it used to be!

[@SydAyu-MGMT]

Another card to look into is the MBNA World Elite Mastercard which provides 5 points for every dollar spent on restaurants, grocery, digital media, memberships and utility bills. So many more ways to get those 5 points than the Cobalt card. You also get a birthday bonus of points every year equivalent to 10% of the points accumulated in the year. This all comes with the significantly higher acceptability of Mastercard vs Amex.

[@idott2462]

Wow!!

[@newmoneynate]

It’s also a very good card! 😁

[@mauricesanchez6804]

Unfortunately alot of people don't make 80k for qualification...? Or if that just paper talk 🤔

[@doom2060]

@@mauricesanchez6804 they don’t check

[@avec.ariette]

Any minimum income?

[@MahdiYusuf]

best credit card in canada if you make over 200K. tell us.

[@newmoneynate]

this bro

[@elainejimenez9053]

Hi Nate! I clicked the link and it's asking for RSVP code?

[@newmoneynate]

Hey Elaine! That’s for credit karma members - if you sign up with them, they’ll give you some extra points. If you’re not, you can just use this link here! americanexpress.com/en-ca/referral/nATHAKOPEW?XL=MIANS

[@allmight7862]

I am a international student can you recommend me a credit card. I already have the Scotia visa credit card. And i have credit score of appox 750.

[@newmoneynate]

Did you try this one?

[@allmight7862]

@@newmoneynate no but can i get the approval and it has annual fee which is out of my budget

[@newmoneynate]

@@allmight7862 check out the CIBC dividend card or BMO cash back if you’re looking for a no fee cash back

[@Chowwwda]

Grocery stores? It does say stand-alone only… but no mention of what that excludes

[@newmoneynate]

Pretty sure I’ve been getting 5x on all my groceries!

[@malavsejpal3958]

@@newmoneynate at Walmart as well?

[@newmoneynate]

@@malavsejpal3958 I’m not sure but it may not be because of how broad Walmart is

[@murtazashakir1553]

Should a student get this card?

[@newmoneynate]

If they can, it’s worth a try!

[@murtazashakir1553]

@@newmoneynate is it possible for a student to get this card?

[@lucasgomes4105]

Do you get 5x at Walmart?

[@davychai9516]

I read from somewhere it is a no for walmart.

[@MahdiYusuf]

2020?

[@newmoneynate]

What do you mean?

[@ryder9401]

@@newmoneynate watch the first 30 secs, you said 2020

[@newmoneynate]

@@ryder9401 oh haha my mistake - fully meant 2022!

[@MahdiYusuf]

@@newmoneynate top of video you said 2020 instead of 2022.

[@ggitslificious]

sucks ass in Vancouver though.

[@jediaaronsbc526]

Makes a video about the card and doesn’t even have it lol okay bud

[@ShootStraight84]

What’s Canada ?