Upcoming Changes to the American Express Cobalt Card

Later on this year, there will be some changes to the annual fee charged on the American Express Cobalt Card.

For Canadians outside of Quebec, the monthly fee is increasing by $3 per month, and Quebec residents will be charged an additional $41.88 for the annual fee compared to what’s charged today.

While it’s never nice to see a fee increase, the American Express Cobalt Card remains the strongest travel rewards credit card in Canada, and it will continue to provide outsized value.

Upcoming Changes to the American Express Cobalt Card

As of November 5, 2025, there will be some changes to the annual fee structure on the American Express Cobalt Card.

Currently, non-Quebec residents are charged a monthly fee of $12.99 per month, which adds up to $155.88 annually. Meanwhile, Quebec residents are charged a $150 annual fee (which was introduced earlier this summer).

Moving forward, the monthly fee for Canadians outside of Quebec will be bumped up to $15.99, which adds up to $191.88 annually. This marks a 23% increase.

In Quebec, the annual fee is getting bumped up to $191.88, too, which marks a 28% increase.

The changes were quietly announced on the American Express website under an “Important Notice” banner, though it’s likely that communication will be sent directly to current cardholders, too.

You can expect the new fee structure to apply on the next statement after November 5, 2025 for monthly fees, or when you’re up for an annual renewal in Quebec.

For what it’s worth, the last time we saw an increase to the annual (monthly) fee on the Cobalt Card was in July 2021, when it went from $10 per month ($120 annually) to $12.99 per month ($155.88 annually). 

The American Express Cobalt Card Is Well Worth the Price

Even with an increase of 23–28%, the cost of admission to the American Express Cobalt Card is definitely worth it.

Ever since its launch in 2017, it has been the most powerful credit card in Canada for earning points quickly, due to the lucrative category earning rates:

• Earn 5 Membership Rewards points per dollar spent on groceries and dining in Canada
• Earn 3 Membership Rewards points per dollar spent on streaming services in Canada
• Earn 2 Membership Rewards points per dollar spent on gas, transit, and ride share in Canada
• Earn 1 Membership Rewards point per dollar spent on all other purchases

Even with a monthly cap of $2,500 on the 5x category that was introduced last year, the Cobalt Card remains a key pillar in a Miles & Points strategy for Canadians.

It’s worth noting that the welcome offer on the card hasn’t changed since November 2023, when it was halved from 30,000 MR points to 15,000 MR points. Note that there are some Preferred Offers floating around via referral links for 22,000 MR points, too.

It appears that American Express could be looking to encourage cardholders to move away from the Cobalt and towards to Gold Rewards Card, as we’ve seen a steady stream of Upgrade Offers over the past couple of years. Some have been more lucrative than others, and the current one isn’t that interesting, in my opinion.

Still, the Cobalt Card offers an excellent opportunity for long-term earning on daily spending, whereas the welcome offers on the Gold Rewards Card and Platinum Card come and go. 

Your best bet is likely to leverage the category earning rates and reasonable fees on the Cobalt Card as your daily driver, and then keeping an eye out for record-high offers on other cards in the Membership Rewards family as they become available.

Conclusion

As of November 5, 2025, the fees on the American Express Cobalt Card are increasing. Canadians outside of Quebec will pay a $15.99 monthly fee (up from the current $12.99), and Quebec residents will pay a $191.88 annual fee (up from $150).

While it’s never nice to have to pay more for something than you currently do, the Cobalt Card continues to offer plenty of opportunities for outsized value. In my opinion, it continues to punch well above its weight, and it remains a key component of a credit card portfolio for all Canadian travellers.

You can expect to see the fee take effect on the next statement following November 5, 2025, or on your next cardholder anniversary date if you’re a resident of Quebec.