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Amex Cobalt Fees Canada 2026: All Costs Broken Down
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The American Express Cobalt is one of the most-asked-about Canadian credit cards in 2026, and the question that comes up most often isn’t about earn rates — it’s about the fees. Here is every fee on the Cobalt, what each one actually costs you per year, and the math on whether the card is worth holding.
Related: Full Amex Cobalt review · Compare to other travel cards · Best Aeroplan credit card.
The full fee schedule
| Amount | Annualized | |
|---|---|---|
| Monthly card fee | $12.99/month | $155.88/year |
| Supplementary card fee | $9.95/month each | $119.40/year |
| Foreign transaction fee | 2.5% | varies by spend |
| NSF / returned payment | $30 each | — |
| Standard purchase interest | 21.99% APR | if carrying a balance |
| Cash advance interest | 22.99% APR | from day 1 |
| Cash advance fee | $5 + interest | per transaction |
What the $12.99/month fee actually buys you
The $155.88 annual cost of the Cobalt is fully recouped through the 5x Membership Rewards earn rate on groceries and dining for any Canadian who spends at least $250 per month in those categories combined.
The break-even math:
| Monthly grocery + dining spend | Annual MR earned | Approx travel value |
|---|---|---|
| $200 | 12,000 MR | $144 |
| $250 | 15,000 MR | $180 |
| $400 | 24,000 MR | $288 |
| $750 (welcome-bonus tier) | 45,000 MR | $540 |
| $1,000 | 60,000 MR | $720 |
For a Canadian spending $400/month on groceries and dining, the card returns $288 in points value against $156 in fees — a net $132/year, plus the ~$600 welcome bonus in year one. For someone spending under $200/month in those categories, the fee outweighs the rewards.
The 2.5% foreign transaction fee — when it actually matters
The Cobalt charges 2.5% on every non-CAD purchase. For Canadians who travel internationally regularly, this fee adds up fast:
- $2,000 USD on a 1-week US trip → $50 in FX fees
- $5,000 EUR on a European vacation → $125 in FX fees
- $1,000/month on US streaming, software, online subscriptions → $300/year in FX fees
The standard fix: pair the Cobalt with a no-FX-fee card for foreign spending. The Scotia Passport Visa Infinite charges $150/year but zero FX — break-even at $6,000 of foreign spending per year.
Supplementary card fee — when it’s worth it
A supplementary card costs $9.95/month ($119.40/year). The math:
- A partner who spends $100/month at 5x grocery/dining earns 6,000 MR/year ≈ $72 → loses money vs the fee.
- A partner who spends $250/month at 5x earns 15,000 MR/year ≈ $180 → net $60/year gain.
- A partner who spends $500/month at 5x earns 30,000 MR/year ≈ $360 → net $241/year gain.
If your partner’s grocery and dining spending is below $200/month, skip the supplementary card and have them get their own no-fee Cobalt-style alternative.
How Cobalt fees compare to alternatives
| Annual fee | FX fee | Best for | |
|---|---|---|---|
| Amex Cobalt | $155.88 | 2.5% | Daily grocery/dining |
| Scotia Passport Visa Infinite | $150 | 0% | International travel |
| Tangerine Money-Back Mastercard | $0 | 2.5% | No-fee 2% cashback |
| MBNA Rewards World Elite | $120 | 2.5% | Year-1 fee waived |
| Amex Aeroplan Reserve | $599 | 2.5% | Frequent flyers |
When to cancel the Cobalt
Cancel if any of these apply:
- Your grocery + dining spending dropped below $200/month consistently
- You stopped using Aeroplan and don’t redeem MR points anywhere
- You found a card with better category alignment (e.g., heavy travel → Scotia Passport)
Because the Cobalt bills monthly rather than annually, you don’t lose any pre-paid time when you cancel. Just call Amex Canada and request closure. Caveat: if you cancel within 12 months of receiving a welcome bonus, Amex may claw back unearned points.
Bottom line
The Amex Cobalt is worth its $155.88/year fee for any Canadian spending $250+ per month on groceries and dining. The 5x MR earn rate plus the typical 60K welcome bonus makes year 1 a clear win. Year 2+ depends on whether your spending pattern still aligns with the bonus categories.
For travelers, pair the Cobalt with a no-FX-fee travel card. For low-spend Canadians, a no-fee card like the Tangerine Money-Back is a better fit.
Frequently asked questions
What is the Amex Cobalt annual fee in 2026?
The Amex Cobalt charges $12.99 per month, which works out to $155.88 per year. This is technically a monthly fee, not an annual fee — Amex bills the $12.99 to your statement each month rather than as a single yearly charge. The benefit of the monthly structure is that you can cancel the card at any time without losing a pre-paid year, though the 2026 welcome bonus requires holding the card for 12 months to fully earn out.
Does the Amex Cobalt have a foreign transaction fee?
Yes. The Amex Cobalt charges a 2.5% foreign transaction fee on all non-CAD purchases. For travelers, this is the card's biggest weakness — it's why most strategic Canadians pair the Cobalt with a no-FX-fee card like the Scotia Passport Visa Infinite (zero FX fees) for foreign spending.
How much does an Amex Cobalt supplementary card cost?
Supplementary cards on the Amex Cobalt cost $9.95 per month each ($119.40 per year). You can add up to 9 supplementary cards. Adding a partner who shares your spending categories can be worth it because their spending earns 5x MR points on groceries and dining — but only if they spend at least $200/month in those categories at 5x to break even on the fee.
Is the Amex Cobalt's $156 fee worth it?
Yes for Canadians who spend $250+ per month on groceries and dining combined. At 5x Membership Rewards on those categories, $250/month = 1,250 MR/month = 15,000 MR/year ≈ $150 in flight value via Aeroplan transfers. Plus the welcome bonus of 60,000 MR (~$600). For someone who spends mostly on travel or in non-bonus categories, the Cobalt's fee outweighs the rewards.
Are there any hidden fees on the Amex Cobalt?
No hidden fees, but watch for: (1) $9.95/month per supplementary card, (2) 2.5% FX on non-CAD spending, (3) $30 NSF fee if you miss a payment, (4) standard 21% interest on balances carried past statement date. The card has no over-limit fee, no balance transfer fee on standard transfers, and no fee for paper statements.
Can I cancel the Amex Cobalt mid-year?
Yes. Because the Cobalt charges monthly rather than annually, you can cancel at any time without losing a pre-paid year. However, if you earned a welcome bonus that required 12 months of spending and you cancel before the 12th month, Amex may claw back the bonus points. After 12+ months of holding, you can cancel any time without penalty.
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