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The American Express Cobalt Card enjoys high esteem in Canada, notably among those whose largest monthly expenses are food or travel.
Here’s a breakdown of the Cobalt Card’s benefits to help you decide if it’s a good Card for you.
Amex Cobalt Card Benefits
Points Earning Possibility
The Amex Cobalt Card – Apply Now!
Welcome BonusEnjoy up to 15000 points Amex
Annual Fee $155.88 ($12.99/mo)
Rewards:Earn 5x points for eligible food and beverages in Canada, including groceries. Spending cap applies.
By meeting the spending requirements, new Cardmembers will receive a welcome gift of up to 15,000 MR point. You’ll earn 1,250 MR points for each monthly billing period in which you spend $750 in purchases on your card.
Flexible Points Redeem
Cobalt Card has a flexible membership rewards card, which is a major benefit. Your points can be used for travel, statement credit, gift cards or, for the best value, transferred to airline and hotel loyalty programs.
Travel Insurance
The Cobalt Card provides travel emergency medical coverage, flight delays, baggage loss/delay insurance, car rental theft/damage insurance, and hotel/motel break-ins.
If you’re looking for more robust travel insurance, consider the Gold Reward CardThe following are some examples of how to use Platinum CardThe, which offers more travel benefits.
Additional Perks
As a Cardmember, you’ll get access to special events, dining experiences, and entertainment offers through American Express Invites, as well as Front of the Line presale access.
The Cobalt Card charge is $12.99 per month, or $155.88 per year.
Cobalt Card: Pros and cons
Still considering the Cobalt Card? Let’s recap the pros and cons below:
Pros
High Earning RatesBenefits are especially great if you spend lots on food and travel.
Flexible Redemption OptionsYou can maximize the value of points by transferring to airline or hotel loyalty programs.
Comprehensive Travel Insurance:You can save money by purchasing a good travel insurance policy if you travel often.
Monthly Fee StructureEasy to manage in comparison to a large fee per year.
Cons
Acceptance Limitation:Amex is not as widely used as Visa or Mastercard. Amex is not accepted by Costco or Loblaws.
Monthly Spending CapThe 5x point rate for groceries, restaurants, and food delivery is subject to an annual spending cap of $2500. After this, the earning rate will drop to 1x.
Foreign Transaction Fee:Charges 2.5% for foreign currency transactions.
Conclusion: Is Amex Cobalt Card a Good Card or Not?
YesThe Cobalt Card has been rated as a good rewards card in Canada.
It’s particularly worth it if you spend the most on food and travel, and can take advantage of the card’s high points-earning potential and flexible redemption options.
You can use your flexible rewards card to transfer points for the best value into airline and hotel loyalty programs, or redeem for cash. Amex points equal $100 statement credit.
If you are a frequent traveler or you need a card that has no foreign transaction fee and offers more travel benefits you may want to consider the Gold Rewards Card. <<<insert link>>>
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