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Intro: Is the Amex Cobalt a Good Card for Everyday Purchases in Canada?
In the ever-evolving landscape of Canadian travel reward cards, choosing the right one to be your “top of wallet” card is a decision that can significantly impact your dream vacation.
Enter the American Express Cobalt Card.
While its multipliers, like the popular 5x points on food and drinks, steals the spotlight, don’t overlook the consistent 1x points on general merchandise.
In this blog post, we’ll explore why the Amex Cobalt Card deserves the prime spot in your wallet, breaking down its earning structure and strategies for maximizing the potential of every purchase.
Amex Cobalt 1x Points on Everything Else: Earning Structure
You’ll earn 1 point for every $1 spent on:
- Everyday purchases
What Everyday Purchases Are Eligible to Earn 1x Points With the Amex Cobalt?
First, it’s important to know that you’ll earn points multipliers with these categories:
If your purchase belong to one of the above categories, you’ll earn 1x points on:
- General merchandise
This includes transactions from:
- Third-party payment accounts or services,
- Card readers attached to mobile phones,
- Online retailers selling goods from various merchants,
- Or cases where the merchant category is not specifically identified.
How to Find a Merchant Code for American Express
Finding a merchant code for a business typically involves looking at the merchant category code (MCC), which is a four-digit number assigned to businesses by credit card companies. The MCC helps identify the type of goods or services a business provides. These can sometimes be difficult to find, but sometimes your best bet is to check the receipt or your credit card statement. Look for a four-digit number associated with the transaction – this is likely the MCC.
What Purchases Aren’t Eligible to Earn Points?
The following transactions do not qualify for the accrual of Membership Rewards point:
- Interest charges
- Monthly/Annual Card Membership fees
- Cash advances
- Foreign transaction fees
- Balance transfer fees
How Much Can You Earn With Amex Cobalt 1x Points?
You can earn unlimited 1x points with your Amex Cobalt Card on general merchandise purchases. While there are spending bonus categories like the 5x points on food and drinks with the Cobalt Card, there are no restrictions on earning 1px points.
A Points Strategy Checklist
Before you accept the default earning rate of 1x points on the Cobalt Card, consider this mental checklist with each purchase:
- Will I earn more points within a spending bonus category? (These points will be assigned automatically on your statement):
- Can I buy a gift card at a grocery store to earn 5x the points, then use it to buy general merchandise?
- Can I use an online shopping portal such as Aeroplan eStore, Great Canadian Rebates, or Rakuten to earn more points?
When it comes to Canadian reward Cards,, the American Express Cobalt Card consistently comes out ahead as a front-runner with its diverse earning structure.
From the appealing 5x points on restaurants and groceries to the reliable 1x points on general merchandise, this card offers a dynamic approach to rewards.
American Express is widely accepted at over 90,000 stores in Canada, including stores, restaurants, and service providers. See where you can use your Cobalt Card in Canada with this comprehensive map.
With the Cobalt Card, you can elevate your earning potential, and let your Amex Cobalt Card redefine the way you experience Credit Card rewards in Canada.
Learn More: How to Earn the Amex Cobalt Welcome Bonus