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American Express Cobalt Card

Relevant if: you use the American Express Membership Rewards program and its documented categories.

Less suitable if: you do not recover at least $191.88 in value to offset the annual fee.

Estimate with my spending

Futello estimate

Net value, first year

-$41.88

The bonus in dollars, minus the fees to earn it.

Fee: $191.88 a year, from year one (no rebate confirmed)

Offer verified on November 5, 2026

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View calculation details

Offer (first 12 months): $150.00
− First-year fees: $191.88
= First-year net value: -$41.88

For a spending profile of $36,000 a year

The offer plus the card’s rewards on this profile. The net value above counts the offer only.

Rewards net of annual fees (balanced scenario): $1,360.62
+ Offer (first 12 months): $150
= Estimate for this profile, offer included: $1,510.62

Basket breakdown · Balanced reference scenario

Value calculated with a balanced spending basket of $36,000 per year.

Everyday purchases$11,250
Groceries$11,250
Restaurants$4,500
Gas / charging$4,500
Pre-authorized payments$4,500

The whole selected basket goes on this card, per the certified balanced scenario. Fees counted once; first-year rebate only when the published offer confirms it; rewards on required spending never counted twice.

Welcome offer

Current offer is in line with past offers

Welcome bonus: Up to 15,000 points American Express Membership Rewards
Conditions: 12 tiers, up to $9,000 in spending within 12 months

See the tier-by-tier detail

1,250 bonus points Spend $750 within 1 month

1,250 bonus points Spend $750 within 2 months

1,250 bonus points Spend $750 within 3 months

1,250 bonus points Spend $750 within 4 months

1,250 bonus points Spend $750 within 5 months

1,250 bonus points Spend $750 within 6 months

1,250 bonus points Spend $750 within 7 months

1,250 bonus points Spend $750 within 8 months

1,250 bonus points Spend $750 within 9 months

1,250 bonus points Spend $750 within 10 months

1,250 bonus points Spend $750 within 11 months

1,250 bonus points Spend $750 within 12 months
End date: End date not published
Offer quality: Fair based on verified history
Last verified: Verified today

New offer observed — August 26, 2026

Email me if this offer changes

Offer history

In line with the 2 verified offers in Futello history.

Offers observed from January 1, 2021 to December 31, 2021
Welcome bonus: min. 15,000 · median 17,500 · max. 20,000
Comparison at limited confidence · the current offer is not part of the comparison baseline

Earlier offer · observed in 2020 15,000 points $3,000 in spending within 3 months
Earlier offer · observed in 2020–2021 20,000 points $3,000 in spending within 3 months
September 13, 2026 15,000 points $9,000 in spending within 12 months current offer

Facts from the issuer’s official site and Futello’s verified history. How offers are evaluated

Rewards

Category	Reward	Conditions
Groceries, restaurants and food delivery	5 points per dollar	Cap not documented
Groceries, restaurants and food delivery	5 points per dollar	$2,500 cap / month · 1 point per dollar after the cap
Streaming subscriptions	3 points per dollar	No published cap
gas, Taxis and ridesharing, and Public transit	2 points per dollar	No published cap
Other purchases	1 point per dollar	No published cap

Role in a strategy

Comparable alternatives

Published values use the same scenario within each use; groups do not form one overall ranking.

Best for groceries

Scotiabank Gold American Express CardScotiabank Canada · American Express

Annual fees: $120
Annual net value: $490

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Neo World Elite Mastercard - Gas & GroceryNeo Financial · Mastercard

Annual fees: $149
Annual net value: $481.54

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Best for restaurants and food delivery

MBNA Rewards World Elite MastercardMBNA · Mastercard

Annual fees: $120
Annual net value: $106.67

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Go further

Sources and uncertainties

Unconfirmed information remains distinct from an absence. Always review current terms with the issuer.

View source