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The American Express Cobalt Card Review

american express cobalt credit cardThe new Cobalt card from American Express presents a lucrative opportunity for Canadians who love dining and travel, and who want to quickly accumulate rewards from purchases in those categories.

New members are greeted with a 10,000-point bonus for spending $3,000 in their first three months. An additional 2,500 points can be earned each month after a minimum monthly spend of $500—totaling 30,000 for the year.

At a Glance:

  • Earn up to 40,000 bonus points in the first 12 months
  • 5 points per $1 spent on restaurants, bars, food delivery, and grocery bills
  • 2 points per $1 spent on airfare, hotels, ground transit, and gas
  • 1 point per $1 spent everywhere else
  • Redeem points on travel, merchandise, events, statement credits and Amazon.ca
  • $10 monthly fee
  • No minimal income requirement
Apply Now!

The new Cobalt card from American Express presents a lucrative opportunity for Canadians who love dining and travel, and who want to quickly accumulate rewards from purchases in those categories.

New members are greeted with a 10,000-point bonus for spending $3,000 in their first three months. An additional 2,500 points can be earned each month after a minimum monthly spend of $500—totaling 30,000 for the year.

Cardholders who choose to redeem points on the Cobalt’s travel catalogue will appreciate a full variety of insurance features, including out-of-province medical care and travel accident coverage. The card also provides insurance for flight and baggage delay, hotel burglary, lost or stolen baggage, and new purchases. The card’s annual $120 fee is fairly standard for a Rewards card, but the fee can be paid on a monthly basis (in $10 installments), unlike most of its competitors.

Why We Like It

  1. Rolling Bonuses: We like that 2,500-point monthly bonus is flexible from month to month; those who do not spend $500 in April can nonetheless earn points for May if their spending increases.
  1. Limited Time Bonus: Apply before January 30th, 2018 and get 10,000 points for spending a total of $3,000 over the first three months. Those who manage to earn the combined 40,000 points in the first year will have enough to redeem a long-haul flight to anywhere in Canada or the continental US, or $400 to spend on virtually any other travel expense that they please (e.g. Airbnb).
  1. Big Earnings Potential: The 5x accelerator for spending on food—whether at restaurants, bars, or for groceries—can generate massive points.
  1. Broad Point Redemption: Points can be easily redeemed through the Amex Travel Canada Catalogue, or on merchandise available online as well. For those who love concerts, sports, or theatre, Amex makes it easy to redeem points on Ticketmaster’s range of events. Additionally, points can simply be used as a credit against the card’s monthly statement, or on Amazon.ca through the Shop with Points program.
  1. Free Supplementary Cards: Cardholders can open a supplementary card to extend the benefits of the Cobalt Amex to others. It’s completely free and is a great way to include a spouse or immediate family member in the fun.
  1. High Level of Protection: Get a full suite of insurance features with the Cobalt AmEx, including up to $5,000,000 on out-of-province medical and $250,000 on travel accident insurance. Alongside these bonuses, members will appreciate insurance features covering flight and baggage delays, baggage or rental car theft, motel or hotel burglary, and rental car damage coverage. New purchases are also protected, with extended warranties increased up to an additional year.

Is It Worth It?

The American Express Cobalt Card is tailored to foodies and travel enthusiasts. Canadians can earn accelerated points from both dining out and cooking at home, and can then redeem those points on their next vacation. The 40,000-point signup bonus is obviously notable, and the basic reward and redemption structure really stands out among cards in the rewards arena.

Apply Now!

4 comments

  1. Will Greedyrates be external partner like what you did with TD Aeroplan VISA so we can get first year fee waived?
    5x point is nice but dinning out is just not my thing

    • Hi Andy!
      We don’t directly offer these promotions, but the card companies themselves do. The American Express Cobalt card does not have a first year fee waiver program, but it does have some excellent welcome benefits which include a 10,000 point bonus when you spend $3,000 in your first three months, and you can get 2,500 additional points a month for spending $500 a month, totalling 30,000 for your first year. If dining out isn’t your cup of tea, you can still accrue points easily with 2x points for airfare, hotel, ground transit, and gas, or earn 1x points for any other purchases, which add up quickly! We hope this helps you make a decision!

      GreedyRates Staff

  2. Can existing Amex members apply /switch cards and still qualify for the bonus points ? Am currently using the Gold Amex (signed up for the 25k points) and would love to grab the cobalt points as well? Thanks!

    • Hey Dave, thanks for leaving your comment. Existing customers of AmEx are welcome to apply for the new Cobalt card and are eligible for the bonus. There is nothing in the fine print to suggest otherwise, so go ahead and take advantage of this awesome deal. We’re getting a lot of interest in the Cobalt, so you’re not alone!

      GreedyRates Staff

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