Amex Cobalt fees in Canada come down to one number for most people: the $15.99 a month card fee, which adds up to $191.88 a year. This page lists every fee Amex publishes for the Cobalt, what each one costs over a year, and how much spending it takes for the points to cover the fee. It is general education, not financial advice.
Related: the full Amex Cobalt review · all Canadian credit card guides · the best Aeroplan credit cards in Canada · the best travel credit cards in Canada.
Amex Cobalt fees at a glance
| Feature | Amount |
|---|---|
| Card fee (outside Quebec) | $15.99 a month (better on this row) |
| Card fee per year | $191.88 |
| Card fee (Quebec residents) | $191.88 once a year (even if you later move out of Quebec) |
| Supplementary cards | $0 |
| Interest | 21.99% on purchases and 21.99% on funds advances |
| Funds advance fee | $0 each |
| Dishonoured payment | $15 each ($0 for Quebec residents) |
| Overlimit | $29 when you go over your credit limit, and again at the end of each billing period you stay over (not charged to Quebec residents) |
| Balance transfer / Amex cheque | up to 3% of each balance transfer or Amex cheque, if offered |
| Foreign-currency purchases | 2.5% conversion commission |
Sources: Amex Canada's Cobalt product page, the information box on the Cobalt application page and the Cobalt cardmember agreement, all checked October 7, 2026.
YieldMaple checked Amex Canada’s Cobalt page, the information box on the Cobalt application page and the Cobalt cardmember agreement on October 7, 2026. Outside Quebec the card fee is $15.99 a month, and supplementary cards cost $0. The other listed charges are a $15 each ($0 for Quebec residents) dishonoured payment fee, a $29 when you go over your credit limit, and again at the end of each billing period you stay over (not charged to Quebec residents) overlimit fee, a funds advance fee of $0 each, and a balance transfer fee of up to 3% of each balance transfer or Amex cheque, if offered. Interest is 21.99% on purchases and 21.99% on funds advances. Foreign-currency purchases carry a 2.5% conversion commission. Smaller charges include $3 per statement for a statement reprint, $20 online or $30 through other service channels, plus applicable taxes to reinstate points, and, if you use Plan It, a monthly fee of up to 1.2% of each balance moved to an installment plan.
What is the Amex Cobalt monthly fee?
The Amex Cobalt monthly fee is $15.99 for cardholders outside Quebec, which equals $191.88 a year. Amex charges it charged on your first statement after the card is issued and every month after that, whether or not you activate the card, so the fee starts even before the card is used.
Quebec residents are billed differently: $191.88 once a year (even if you later move out of Quebec). The yearly total is the same either way. The monthly structure matters mostly when you close the card, because a monthly fee stops with the account instead of being paid a year in advance.
How much spending covers the Cobalt fee?
About $3,837.60 of 5X spending a year, or roughly $319.80 a month, covers the fee at Amex’s own redemption rate. Amex pays 5 points per $1 at eligible restaurants, coffee shops, bars, stand-alone grocery stores and food delivery in Canada, up to $2,500 in combined net purchases a month, then 1 point per $1, and redeems points at 1,000 points = $10 toward eligible purchases with Use Points for Purchases.
The table uses that redemption rate only. Membership Rewards points can also move to partners such as Aeroplan at 1,000 Membership Rewards points = 1,000 Aeroplan points, and a transfer can be worth more or less than a statement credit depending on the redemption, so these rows are a floor, not a promise.
| Monthly 5X spending (example) | Points a year | Value at 1,000 points = $10 | Minus the $191.88 fee |
|---|---|---|---|
| $200 | 12,000 | $120 | −$71.88 |
| $500 | 30,000 | $300 | $108.12 |
| $1,000 | 60,000 | $600 | $408.12 |
| $2,500 (the monthly 5X cap) | 150,000 | $1,500 | $1,308.12 |
In year one, the welcome offer adds up to 15,000 Membership Rewards points in the first year: 1,250 points for each monthly billing period in which you spend $750, in your first year. Amex values the full offer at up to $150, which covers most, but not all, of the first year’s $191.88 fee. Current or former Cobalt cardmembers can’t get it.
Does the Amex Cobalt charge a foreign transaction fee?
Yes: the Amex Cobalt charges a 2.5% foreign currency conversion commission on purchases made in a currency other than Canadian dollars, per Amex Canada’s Cobalt product page on October 7, 2026. The information box on the application page describes it as a single conversion commission of 2.5% of each foreign-currency charge, added to the exchange rate. The cardmember agreement adds that the commission is not returned when a foreign-currency purchase is refunded (no extra commission is charged on the refund itself).
In dollars, $2,000 of foreign-currency purchases on the Cobalt costs $50 in commission, and $5,000 costs $125. The rate matches the 2.5% Scotiabank describes as the mark-up card issuers typically charge on top of the exchange rate.
A card with no foreign transaction fee removes that cost. The Scotiabank Passport Visa Infinite charges $150 a year and none: only the exchange rate applies to foreign-currency purchases. Against the Cobalt’s commission, that fee is recovered at $6,000 of foreign-currency spending a year.
How much does an Amex Cobalt supplementary card cost?
An Amex Cobalt supplementary card costs $0, per the information box on Amex Canada’s Cobalt application page, and the product page describes it as no annual fee for additional cards. The cardmember agreement makes the basic cardmember responsible for charges on every card on the account, including supplementary cards.
Because the extra card has no fee, the cost question is only about spending, not the card itself. The 5X rate still stops at $2,500 in combined net purchases a month, then 1 point per $1, so a household that already spends near that level in the 5X categories gains little extra 5X earning from a second card.
How do Cobalt fees compare with other Canadian cards?
| Feature | Card fee | Foreign-currency purchases |
|---|---|---|
| Amex Cobalt | $191.88 a year (billed monthly outside Quebec) (better on this row) | 2.5% conversion commission |
| Scotiabank Passport Visa Infinite | $150 a year | none: only the exchange rate applies to foreign-currency purchases |
| Tangerine Money-Back Credit Card | $0 | 2.5% |
| MBNA Rewards World Elite Mastercard | $120 | A fixed percentage set out in the Disclosure Statement |
Sources: each issuer's own product page and disclosures, as recorded in YieldMaple's rates catalog (Amex Cobalt checked October 7, 2026).
The Cobalt’s $191.88 yearly cost is the highest in this group, and it charges a 2.5% conversion commission on foreign-currency purchases. The Scotiabank Passport Visa Infinite costs $150 a year with none: only the exchange rate applies to foreign-currency purchases. The Tangerine Money-Back Credit Card has a $0 annual fee and a 2.5% foreign currency conversion fee. The MBNA Rewards World Elite costs $120 a year and charges a foreign currency conversion fee — a fixed percentage of each non-Canadian-dollar transaction, set out in the Disclosure Statement you receive (the card's product page doesn't list the rate).
When does the Cobalt fee stop paying for itself?
The Cobalt fee stops paying for itself when yearly 5X spending falls below about $3,837.60, if points go to statement credits. Signs the math has turned:
- Eats-and-drinks spending on the card has dropped under roughly $319.80 a month.
- Points sit unredeemed, so the fee buys nothing in practice.
- Most spending is in foreign currency, where the 2.5% conversion commission applies.
- A balance is carried, so interest at 21.99% outweighs the points.
Closing the account ends the monthly fee. Per the cardmember agreement, a new account can be cancelled within 14 business days after you receive the card for a new account, with any annual fee refunded or credited, less the value of any benefits used.
The verdict
On Amex’s own numbers, the Cobalt’s $191.88 yearly fee is covered by 5X spending of about $319.80 a month redeemed as statement credits, and the extra fees ($0 supplementary cards, a $15 each ($0 for Quebec residents) dishonoured payment fee) are small next to that. The fees that can change the picture are the ones you control: interest at 21.99% on a carried balance and the 2.5% conversion commission on foreign-currency purchases.
The Cobalt fits a household with steady restaurant, grocery and delivery spending in Canada. A no-fee card such as the Tangerine Money-Back fits lower spending, and a no-FX card such as the Scotiabank Passport fits heavy foreign-currency spending.