Amex Cobalt Card Canada Review

for the American Express Cobalt Card

Card Details at a Glance

Welcome Bonus:

up to 15000 Amex points

Card Type:

Credit Card

Product Type:

Personal Card

Material:

Plastic

Category:

Travel Rewards

Points Currency:

Amex Membership Rewards

5 Amex points

per $1 spent on eligible eats and drinks in Canada, including groceries and food delivery. Spend cap applies.

3 Amex points

per $1 spent on eligible streaming subscriptions.

2 Amex points

per $1 spent on eligible ride shares, transit & gas in Canada.

1 Amex point

per $1 spent on eligible hotel and car rental bookings via American Express Travel Online and everthing else.

Annual Fee:

$155.88 ($12.99/mo)

Extra Card Fee:

No annual fee

Purchase Interest:

21.99%

Cash Advance:

21.99%

Foreign Transfer Fee:

2.50%

Balance Transfer:

n/a

Residency & Age:

A Canadian resident who has reached the provincial age of majority.

Estimated Credit Score:

Fair Credit, 600+

Income Requirement:

n/a

Apply Now for the American Express Cobalt Card!

With a low annual fee, flexible travel rewards and bonus points earned on fun things like restaurants, food delivery, streaming services and rideshares, the Cobalt Card is everything a Card should be.

Cobalt Card Canada Welcome Bonus of up to 15000 Amex points Points

You can earn up to up to 15000 Amex points points with the current Cobalt Card welcome bonus offer.

Here’s how:

In your first year as a new Cobalt Cardmember, you can earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in net purchases on your Card. This could add up to 15,000 points in a year. That’s up to $150 towards a weekend getaway or concert tickets.

The Annual Fee is Billed Monthly

The annual fee is billed monthly which makes it the only Amex Card with that fee structure. Just like a subscription service, the cost is $12.99 a month, which works out to $155.88 a year.

Cobalt Now Transfers to Airline Loyalty Programs!

In August, 2021 the Cobalt Card saw some exciting changes. One of the biggest is you can now transfer your Membership Rewards to airline loyalty programs, not just Marriott and Hilton, as was previously the case.

This is huge news for frequent fliers, travel hackers and anyone looking to get the most value out of their Amex points. This also unlocks the potential to transfer your Amex points to Avios or Aeroplan during transfer bonus promotions which can net you an extra 30% in points!

Flexible travel reward Cards offer a ton of value because you can transfer your points out of the credit card points system (Amex in this case) and into loyalty programs that offer a wide range of promotions. This allows you to play with different sets of rules for redeeming your points and get the most value.

Apply Now and make this your top of wallet Amex Card in Canada today!

How to Earn 5x Points on Groceries and More

One of the biggest selling features of the Cobalt Card in Canada is the ability to earn 5x the points at grocery stores and on grocery delivery. That’s 5 points per $1 spent.

So if you spent $1,000 in groceries in the month, you’d earn 5,000 Amex Membership Rewards points that can be redeemed for a $50 cash statement credit. That’s 5% cashback, or $600 annually. Or convert your points to airline and hotel loyalty programs for even more value.

If you transferred those 5,000 points to Marriott during a yearly transfer bonus promotion where you get 30% more points, you’d have 7,800 Marriott Bonvoy points. Or 6,000 Marriott Bonvoy points during regular transfer rates.

During a transfer bonus promotion, that’s enough for a 1-night stay at a Category 1 hotel, like the Four Points by Sheraton in Edmonton, Alberta. Just for using your Cobalt Card for groceries you’d buy anyway.

By the end of the year if you spent $1,000 every month on groceries, you’d earn an additional 60,000 Amex points. That’s enough for a round trip flight to Hawaii, or Europe with the Amex Fixed Travel program simply by using your Cobalt Card for groceries! This easy redemption offers exceptional value for a low annual fee Card.

But we all know grocery stores sell more than just groceries, and that’s where you can really take advantage of the 5x earning bonus.

When you buy a gift card from the grocery store, that will also count towards the 5x points bonus.

So before you shop at Home Depot, The Bay, Netflix, Amazon or any other company you can buy a gift card for, buy that gift card from the grocery store using your Cobalt Card first. Then make your store purchase using the gift card to earn 5x the points!

Limits to this Amex Loophole

Admittedly this is quite the loophole for Amex Cardmembers, and if not used carefully, your account may be flagged, resulting in having your points clawed back, or even your Card cancelled.

American Express policy states cash equivalent transactions (i.e. gift cards) are not allowed to earn 5x the points. But at the same time, Amex does not have a receipt of everything you bought at the grocery store. It could be $200 in meat, cheese, and veggies…or a $200 gift card to LuluLemon so you can buy that new workout outfit.

Another red flag would be if you only bought gift cards at the grocery store, resulting in round numbers (i.e $200, $300, $500). Instead, buy a gift card in addition to your groceries so your grocery bill looks more natural. Amex does not see a receipt of what you bought, only the total (at least not in Canada yet).

Travel Hacker’s Warning?: What is Level 3 Data Processing, and What Can Credit Card Companies See About Your Purchases?

If you do buy gift cards at grocery stores with your Cobalt Card to earn 5x the points, do so in moderation. Buying a gift card here and there is not likely to get your account flagged, especially if you are within an acceptable range of grocery store spending for the month.

You can earn 5x the points at grocery stores, restaurants, grocery delivery, and food delivery up to a maximum of $30,000 per year, for a maximum of 150,000 Amex points. After the maximum has been reached, you’ll earn 1x per $1 spent.

Is the Cobalt Card Worth It in Canada?

Yes! The Cobalt Card in Canada is currently offering a welcome bonus offer of up to 15000 Amex points.

for the American Express Cobalt Card