Benefits of the Amex Cobalt Card in Canada – PointsWise

The American Express Cobalt Card is renowned as a top-tier rewards card in Canada due to its exceptional earning potential of 5x points on food-related purchases. If you enjoy dining out or ordering in, this card is perfect for you. You can earn 5x points at grocery stores, restaurants, and food delivery services like DoorDash, Skip the Dishes, and Uber Eats.

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Earn Up to 5x the Points

Here’s how you can accumulate points:

By spending $500 each month on food, you’ll earn $25 back in Amex points. This totals an additional $300 over the year, simply from grocery shopping.

Bonus: Discover how to earn 5x the points on gas with the Amex Cobalt in Canada.

Earn a Welcome Bonus

New cardholders can earn up to 15,000 Membership Rewards points within their first year. By spending $750 monthly, you’ll accrue 1,250 points each billing cycle, equating to a cash value of $150, which nearly covers your first year’s annual fee.

Enjoy Flexible Ways to Redeem Your Points

One of the greatest advantages of being a Cobalt cardholder is the wide range of options available for redeeming your points. Here are the various ways you can use your Amex points:

Transfer Points to Partner Loyalty Programs

You can transfer your Amex Membership Rewards (MR) points to your preferred loyalty programs for maximum value, making the most out of promotions and status-earning opportunities.

Airline Loyalty Programs:

• Aeroplan (Air Canada): 1,000 MR points = 1,000 Aeroplan points
• Air France KLM Flying Blue: 1,000 MR points = 750 Flying Blue Miles
• Asia Miles: 1,000 Membership Rewards points = 750 Asia Miles
• British Airways Executive Club (Alaska Airlines): 1,000 Membership Rewards points = 1,000 Avios
• Delta SkyMiles: 1,000 Membership Rewards points = 750 SkyMiles
• Etihad Guest: 1,000 Membership Rewards points = 750 Etihad Guest miles

Hotel Loyalty Programs:

• Hilton Honors: 1,000 Membership Rewards points = 1,000 Hilton Honors points
• Marriott Bonvoy: 5 Membership Rewards points = 6 Marriott Bonvoy points

Statement Credit

To redeem your Cobalt points for a statement credit, simply log in to your Amex Online Services account and select the purchases you wish to apply points towards. The credit will be processed within 48 hours. Amex points are valued at a base rate of $0.01 each, meaning that 10,000 points equals $100.

Fixed Points Travel Program

This option is ideal for easy redemptions—with round-trip fares starting at 15,000 Amex points. You can select a flight category—Canada/U.S., Europe, or Worldwide—to find the fixed points required for a maximum base ticket, making last-minute bookings a breeze.

Choose between Economy and Business class to explore your travel options through the Fixed Points Travel Program.

Flexible Points Travel Program

With American Express Travel, you can book flights, hotels, or car rentals using Amex points or a combination of points and cash.

Caution! While booking through American Express Travel is an option, consider reserving directly with your preferred hotel, airline, or rental company to earn loyalty perks. Booking through Amex Travel is considered third-party, which may limit your access to benefits typically given through loyalty programs.

Merchandise

Redeem your Amex points for various general merchandise items through the shopping portal.

Gift Cards

Use your points to obtain gift cards from popular retailers.

Amazon Shop with Points

Link your Membership Rewards account with your Amazon.ca account, choose the linked American Express Card at checkout, and you will be given the option to pay with points.

Caution! Redeeming points through “Amazon Shop with Points,” gift cards, and merchandise strategies typically reduces the value of your points below the standard $0.01 per point when used for statement credit. To maximize your points, consider purchasing an Amazon gift card at a grocery store to earn 5x points on that transaction, then redeem those points as a credit on your account.

The Cobalt card provides travel insurance that includes:

• Emergency Medical Insurance: Coverage for unexpected medical expenses.
• Travel Accident Insurance: Protection against travel-related accidents.
• Baggage and Flight Delay Insurance: Reimbursement for delays or lost baggage.
• Car Rental Insurance: Protection against theft or damages to rental vehicles.
• Hotel/Motel Burglary Insurance: Coverage against theft from hotel rooms.

Get Access to Exclusive Perks

As a Cobalt cardholder, you can enjoy:

• American Express Invites: Gain access to exclusive events, dining experiences, and entertainment offers.
• Front of the Line Presale Access: Priority ticket access to concerts and events.

Does the Cobalt Card Include Lounge Access?

No, the Amex Cobalt card does not grant access to airport lounges. If lounge access is a priority, you may want to consider other card options.

Conclusion: Is the Amex Cobalt Card Right for You?

The Amex Cobalt card is distinguished for its remarkable rewards potential and versatile redemption options.

However, it’s essential to evaluate the acceptance rates of Amex at the stores you frequent and keep in mind the 2.5% foreign transaction fee.

While it isn’t primarily focused on travel rewards, the Cobalt card is beneficial for the casual traveler, as it allows you to transfer points to Aeroplan, Delta, Marriott, Hilton, and other hotel and airline programs.

In summary, if you regularly spend more than $500-$750 a month on food and gas, the Cobalt card is a smart choice that offers a net benefit even after the annual fee of $155.88 ($12.99 billed monthly).

Learn More: Is it Hard to Get Approved for an Amex Cobalt Card in Canada?