Popular Amex credit card to increase monthly fee in Canada soon
Certain American Express (Amex) credit card holders in Canada will soon see an increase in their monthly fee.
The company shared an important notice on its site, advising Amex Cobalt Card holders in Canada that their monthly fee is about to go up.
Effective Nov. 5, 2025, the monthly fee for non-Quebec residents will increase to $15.99 per month (equals $191.88 annually), and the annual fee for Quebec residents will increase to $191.88 per year.
BigTunaOnline/Shutterstock
The current monthly fee for the Amex Cobalt Card in Canada is $12.99 a month ($155.88 annually) and $150 a year for Quebec residents. That means non-Quebec residents will pay $36 more annually, and Quebec residents will pay $41.88 more per year starting in November.
American Express did not specify why it is increasing the fee. Daily Hive has reached out and will update the story when the company responds.
Amex Cobalt is popular among credit card holders, boasting robust rewards on dining, groceries, and streaming. Users can earn between three and five times the points on these categories, allowing shoppers to maximize rewards with one of the highest earning rates in Canada.
It’s also the first choice for jetsetters as it gives cardholders high returns when transferring points to Aeroplan (up to 10 per cent), 15,000 welcome points, and 10 types of travel and purchase insurance.
Amex Cobalt remains the best overall credit card in Canada in several rankings this year. Despite the monthly fee hike, it still may be more manageable and easier to budget throughout the year compared to other cards.
American Express is currently offering a 15,000 welcome bonus (up to $150 in value) to Canadians who sign up for their first Cobalt card. Current or former cardholders aren’t eligible for the offer.