About this Video

• Video Title: THIS Is The BEST CREDIT CARD in Canada 2025 | AMEX Cobalt Canada Review
• Channel: Shervin House
• Speakers: Sherin
• Duration: 00:22:11

Introduction

This video reviews the American Express Cobalt Card, highlighting why it's ranked as the best credit card in Canada. The review covers sign-up bonuses, points accumulation, travel benefits, other features, and customer service.

Key Takeaways

• High-Value Points: The AMEX Cobalt card offers competitive points per dollar spent on various categories, particularly on eats and drinks (5 points per dollar), streaming services (3 points per dollar), and travel (2 points per dollar, with an additional point for booking through AMEX travel).
• Flexible Redemption: Points can be transferred to various loyalty programs (Aeroplan, Flying Blue, etc.) at a 1:1 ratio, potentially maximizing their value for travel. The speaker suggests that business-class flights often offer the best value per point.
• Additional Benefits: The card offers various benefits beyond points, including mobile device insurance (up to $1000 for 2 years), travel insurance (up to $5 million emergency medical coverage for the first 15 days), purchase protection, and extended warranties.
• Affordable Fee: Despite its benefits, the annual fee is considered reasonable compared to other premium cards.
• Good Customer Service: The speaker has positive experiences with AMEX customer service, particularly regarding fraud protection and card replacement.

The video details the following benefits of the AMEX Cobalt card:

Points Accumulation:

• Eats & Drinks: 5 points per dollar spent at restaurants, bars, coffee shops, grocery stores, and on food deliveries (with a $2,500 monthly cap). Even exceeding this cap still earns 5 points per dollar on the first $2,500 spent.
• Streaming Services: 3 points per dollar spent on select streaming services including Apple TV+, Apple Music, Crave, and Disney+.
• Travel: 2 points per dollar spent on travel, plus an additional point if booked through AMEX travel (up to 3 points per dollar).
• Other Purchases: 1 point per dollar spent on all other purchases.

Sign-up Bonus: An additional 15,000 points in the first year, earned by spending at least $750 per month. Each 1,200 points earned equates to an additional $12. At a minimum, this is worth $150, covering the card's annual fee.

Travel Benefits:

• AMEX Travel Platform: Access to a travel booking platform offering competitive prices on flights and hotels. The speaker recommends comparing AMEX travel with Google Flights and Expedia for best deals.
• Out-of-Province/Country Emergency Medical Insurance: Up to $5 million per person for the first 15 days of travel (extendable for a fee).
• Flight Delay Insurance: Coverage for delays.
• Baggage Delay Insurance: Coverage for delayed luggage.
• Hotel Burglary Insurance: Coverage for theft at hotels.
• Lost or Stolen Baggage Insurance: Coverage for lost or stolen baggage.
• $250,000 Travel Accident Insurance: Coverage for accidents during travel.
• Car Rental Theft and Damage Insurance: Coverage for theft or damage to rental cars.

Other Benefits:

• Mobile Coverage: Insurance for mobile devices purchased with the card, covering theft, loss, or accidental damage for up to $1,000 over two years.
• Front-of-the-Line Access: Access to pre-sales and reserve tickets for events.
• Hotel Collection: Potential benefits for bookings made through AMEX travel, such as free Wi-Fi, breakfast, early check-in, and late check-out, sometimes with hotel credits.
• Buyer's Assurance Protection: Extends the manufacturer's warranty on purchases by an additional year.
• Purchase Protection Plan: Covers accidental damage or theft of purchases for 90 days after purchase, up to $1,000 per item.
• Fraud Protection: The speaker notes positive experiences with AMEX's fraud protection and resolution of issues.
• Emergency Card Replacement: Quick replacement of lost or stolen cards.
• Exclusive Offers: Access to various exclusive offers through the AMEX app. The speaker mentions offers covering small purchases.
• Eligibility: Relatively easy eligibility requirements, requiring only age and a decent credit score.

The video emphasizes that the value of the points can be significantly increased by transferring them to airline loyalty programs and booking business-class flights. The speaker highlights that even without seeking out optimal redemption scenarios, significant value (e.g., 15% back on restaurant spending) is attainable.