Late evening yesterday, a reddit subthread  kick-started news on changes coming to Amex Cobalt cards 5x earning category. As per the sub thread, the new card package included an insert that indicated a Amex Cobalt 30K annual limit to 5x earn on Eats and Drinks (Grocery and Dining) category. Effective August 20, 2019.

Shortly thereafter, a picture (source unknown) of the insert started circulating through some social media channels. The new language around the Eats and Drinks category read “5x the points on eligible eats and drinks up to $30,000 annually. 1x the points thereafter. Calculation resets to zero each year on the Cardmembership anniversary date.

Amex Cobalt 30K annual limit

The news went from credible rumor to confirmation, when Amex Canada confirmed it via twitter, earlier today;

Amex Cobalt 30K annual limit

 

Quick Recap, current earning rates:

  • 5x the points on eligible eats and drinks in Canada, including groceries and food delivery
  • 2x on Travel and Transit (including flights, hotels, taxis, gas, ride sharing, and transit passes)
  • 1x on all other purchases.

Full review of Amex Cobalt Card

Upcoming changes to Amex Cobalt earning rates:

Starting August 20, 2019;

  • 5x on Eats and Drinks (including restaurants, bars, cafe, grocery stores and food delivery) up to $30,000 annually, 1x thereafter
  • 2x on Travel and Transit (including flights, hotels, taxis, gas, ride sharing, and transit passes)
  • 1x on all other purchases.

For current card members, the limit starts at zero on August 20th and will reset again on card anniversary date. 

Take Away:

No doubt that these changes will not impact the majority of card users. $30,000 annually is a decent amount for most families to spend on grocery and dining. Most. If you are an exception to this, the good news is that the limit counter does not start until Aug 20, 2019starts at zero so you have another $30k to earn 5x points. If your card anniversary is between Aug-Dec, another reset will hit your account shortly.

Does this change affect you adversely? Share with a comment below.

 

Hat Tip: (u/notlognormal) for bringing the changes to our attention, initially.