Back in April, I wrote about a few changes coming to the American Express Cobalt Card, starting Aug 20, 2019. The changes are in effect now  and include an annual cap on 5x earn category for all new and old card members. What doesn’t change is that Amex Cobalt card continues to be the best points earning card in Canada. And that includes being the best Aeroplan and Marriott points earning card for Canadians.

Quick view of the updated earn categories:

  • 5x the points on eligible eats and drinks in Canada, including groceries 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 started at zero on August 20th and will reset again on card anniversary date. 

American Express Cobalt Card Review – Apply Now 

American Express Cobalt Card Review

 

  • Monthly Fee: $10/month
  • Welcome Bonus: 30,000 Membership Rewards® points. Card holders pay $10/month and earn 2500 points (minimum spend of $500) each month of the year.
  • Earning Rate:
    • 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.
  • Other Key Benefits:
    • Amex Special Offers (perks, bonus rewards)
    • The Hotel Collection ($100 USD hotel credit at participating properties on qualifying room charges and room upgrade with min. 2 night booking made directly on American Express travel portal)
    • Extensive Insurance coverage for travel and shopping
  • Redeeming Cobalt Membership Rewards® points

    • Fixed Points Travel Program: A short haul return flight in economy class (15,000 points) can be had with a spend of $3000 on the American Express Cobalt Card or a return trip to Europe in Business class (140,000 points) with $28000 in card spend. These are incredible returns with daily spends on a card.
    • American Express Cobalt Card Review

      Amex Fixed Points Travel – Economy (r/t)

       

      American Express Cobalt Card Review

      Amex Fixed Points Travel – Business (r/t)

       

    •  Statement Credits towards eligible purchases
    • Convert Cobalt MR points to Marriott at 5:6 or Hilton at 1:1

Detailed list of benefits and perks of the card are listed here

American Express Cobalt Card – Best Aeroplan and Marriott points earning card in Canada

Cobalt MR points don’t transfer directly to airline miles, but they do transfer to Marriott at 5:6 ratio. Since the card can earn 5 points on the dollar (5x earn category), that’s essentially 6 Marriott points per dollar. That’s a better rate than any other card in the market (Marriott Bonvoy Amex cards come the closest with 5 points/$).

Further, members can convert from Cobalt MR⇒Marriott⇒Aeroplan (or Avios). Marriott adds a 5K bonus on every 60K points converted, which means converting 60K Marriott can yield 25K Aeroplan miles. Going from MRS⇒Marriott⇒Aeroplan yields a rate of 2.5 Aeroplan miles/$, which is incredible! The rate is better than any other Aeroplan earning card in the market.

Take Away

If I assume a monthly household expense of $2500 ($1000 in groceries, $500 in travel and transit, and $500 in all other expenses), the card yields 9000 MR points each month (incl 2500 monthly bonus). Or 108,000 MR points a year, an incredible return! American Express Cobalt Card continues to be a must have for all Canadians, for its ease of earning quick points and great returns! Even with the 30k limit on the 5x earn category, in my opinion still the best credit card in Canada.

 

Title Image Source: American Express 

 

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