THIS Is The BEST CREDIT CARD in Canada 2025 | AMEX Cobalt Canada Review
In this video, we take a look at the AMEX Cobalt benefits, and discuss why it is the best credit card in Canada 2025.
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The AMEX Cobalt Card is the best credit card in Canada. In fact this is the card that I primarily use for my day to day purchases, and is an absolute must have for most Canadians. This is because despite being a paid credit card (and the best paid credit card in Canada for that matter), the card offers an incredible amount of value back which makes the fee seem like an absolute bargain. This is both in terms of the Points that you earn from the card and their value when it comes to travelling for free, as well as amazing features such as the complementary mobile phone coverage, purchase protections, and travel insurances. Throughout this video, we will go through all of these features and see exactly why this is not only among the best credit card 2025 Canada, but also why it is the best premium credit card 2025 in Canada.
We first begin the AMEX Cobalt review by looking at the number of points you earn per each dollar that you spend. The AMEX Cobalt Canada gets you 5 points per dollar spent on eats & drinks (which includes restaurants, bars, coffeeshops, and groceries), 3 points per dollar spent on streaming services, 2 points per dollar on travel & transit, as well as 1 point per dollar on everything else. AMEX points are worth approximately 1 cent per point when redeemed towards travel. That said, there is a way to get much more value from these points, and that's by transferring them into airline partner points such as Flying Blue Miles or Aeroplan.
Most airline loyalty programs have a standing deal with American Express where you can transfer your AMEX points over to them at a 1 to 1 ratio, at any time and for completely free. You should always transfer your Cobalt card points to either Flying Blue Miles, Aeroplan, or other airline loyalty programs of your choice, because if you do so, each point that you earned will be worth much more (estimated to be 2.23 cents on average) when redeemed towards travel, which is more than double the value you get from using your points towards statement credit on your American Express Cobalt Card. Also if you do this, you would be essentially getting an estimated 11% value back on eats and drinks, 7% value back on streaming, 4.5% value back on travel & transit, and 2.23% value back on all else. These value back rates are insanely high and pretty much unriveled by other credit cards in Canada.
But that's not all that this card has to offer. In fact the best feature of the AMEX Cobalt Card in Canada is the phone protection plan. Essentially if you buy your phone with this card, then for the first 2 years of owning your device, you are insured against theft, loss, and accidental damages up to $1,000 and at no extra cost. So if you for example buy a new iPhone using the American Express Cobalt Card and 6 months later accidentally break the screen, you can get your phone repaired at no cost to you just because you own this credit card.
You will also receive a number of purchase coverages, such as the lowest price guarantee, and the purchase protection plan which insures your purchases for the first 90 days against theft or refusal of return. You will also get a number of travel coverages, such as emergency medical insurance abroad, flight delay insurance, baggage delay insurance, hotel burglary insurance, car rental insurance, and much more.
The American Express Cobalt Card Canada also has a great sign up bonus where you can earn up to 15,000 extra points in the first year of owning the card. Basically in each of the first 12 months of having it, if you spend at least $500 on the cobalt card, you will receive an extra 1,250 points. So if you do this for all 12 months, you would get 15,000 bonus points, which when transferred into airline partner points is worth an estimated $335 in value when redeemed towards travel. So just from this sign up bonus alone you could earn enough value to pay for the monthly fee of the card for the first 2 years, and again that's before taking all of these amazing features and points per dollar into account.
Overall, the AMEX Cobalt Canada is the best credit card Canada in 2025. Not only is it one of the best paid credit cards Canada, but it also is the best credit card for beginners and pros alike. If you travel at least once every couple of years, then this card is an absolute must have for you and could help you earn a number of free travels in a short period. So if you don't have the cobalt card already, get it ASAP and start enjoying the amazing AMEX benefits.
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