Earn points with groceries
During the COVID-19 pandemic, groceries are often one of our only expenses. Also, it has inflated in many budgets, inversely proportional to gas, coffee-shops or restaurants!
A few days ago, I explained how to earn points and cashback through online grocery stores.
Today, find out why the American Express Cobalt™ Card is the best credit card for groceries to earn flexible rewards fitting your needs!
5 points per dollar
The American Express Cobalt™ Card is the favourite card of the milesopedia’s community for two reasons:
- Accelerated earning rate:5 points per dollar for many expenses
- Flexible point redemptions: travel, cashback, hotel points, flights, Airbnb rental
With the American Express Cobalt™ Card, you can get:
- 5 Membership Rewards points per dollar at the grocery store
- 5 Membership Rewards points per dollar for home food delivery
- 5 Membership Rewards points per dollar in convenience stores
- 5 Membership Rewards points per dollar at restaurants and bars
So for every $1,000 of purchases in these categories, you earn 5,000 points or $50 in travel rewards!
In Canada, only the Scotiabank Gold American Express® Card has such an earning rate of 5 points per dollar.
2,500 points per month as a bonus
With the American Express Cobalt™ Card, during the first year, you can earn 2,500 Membership Rewards points for each monthly billing period in which you spend $500 in purchases on your Card.
In 12 months, this is an additional 30,000 points or a $300 travel rewards value.
The trick is to charge this monthly $500 on the 5 points per dollar categories:
- Grocery store
- food delivery at home
- convenience stores
- restaurants and bars
That way, it is a double-dip: you can earn the equivalent of 10 Membership Rewards points per dollar during the first year!
Here’s another tip with the American Express Cobalt™ Card!
While you make your groceries at your local Metro or Super C, or when you buy something at your local Couche-Tard, buy some gift cards for other merchants such as:
- Home Hardware
- Home Depot
- And more!
You will earn 5 Membership Rewards points per dollar on these purchases as well! This is perfect for those who are doing renovations or those who stock up alcohol at the SAQ 😉
60,000 Membership Rewards points in the first year?
So, by doing this double-dip technique, you can get at least 60,000 Membership Rewards in the first year, a $600 travel rewards value!
Here’s a simulation by charging $500 worth of grocery shopping each month for the first year:
5 points per dollar
After $500 in purchases
|April||2,500 points||2,500 points||5,000 points|
|May||2,500 points||2,500 points||10,000 points|
|June||2,500 points||2,500 points||15,000 points|
|July||2,500 points||2,500 points||20,000 points|
|August||2,500 points||2,500 points||25,000 points|
|September||2,500 points||2,500 points||30,000 points|
|October||2,500 points||2,500 points||35,000 points|
|November||2,500 points||2,500 points||40,000 points|
|December||2,500 points||2,500 points||45,000 points|
|January||2,500 points||2,500 points||50,000 points|
|February||2,500 points||2,500 points||50,000 points|
|March||2,500 points||2,500 points||60,000 points|
So in a year, you’ll have at least 60,000 points available, a $600 travel rewards value!
If you take away the monthly fee ($10 per month or $120 over one year), that is a $480 net profit.
Flexible point redemptions
Membership Rewards points earned with the American Express Cobalt™ Card can be redeemed in many ways.
Let’s take the example of the 60,000 Membership Rewards points you could earn the first year:
|60,000 points value||Article on milesopedia|
|Travel statement credit||$600||Details|
|Any expense credit statement||$420||Details|
|Fixed Points Travel Program||$1,200||Details|
|Marriott Bonvoy Points Transfer||72,000 points
(a $648 value according to milesopedia)
Travel statement credit
Or for a flight booking with Air Transat
For those who don’t like hotels, it’s an excellent solution to redeem Membership Rewards points earned with the American Express Cobalt™ Card to book something on Airbnb!
Fixed Points Travel Program
Here, it’s simply THE best redemption you can make with the Membership Rewards points earned with your American Express Cobalt™ Card. But it will only concern specific situations!
- Log into the American Express travel portal with your American Express Cobalt™ Card
- Book some flights through American Express’ Fixed Points Travel Program: here, 15,000 points = $300!
Here are the possible combinations:
This means that with 60,000 points, you could get up to $1,200 on flights like:
- Montreal – New York
- Montreal – Toronto
- Toronto – New York
Marriott Bonvoy points transfer
Here, this is for those who want to earn Marriott Bonvoy points for a stay in one of the group’s 7,000 hotels!
- You log on to the Membership Rewards Points transfer portal with your American Express Cobalt™ Card
- Transfer your Membership Rewards points to Marriott Bonvoy at a rate of 1:1.2(or 5:6 if you prefer)
- Book your hotel directly with your Marriott Bonvoy account
You can get 72,000 Marriott Bonvoy points with 60,000 Membership Rewards points. By doing it right (booking hotels in category 1 to 3), this can represent several free hotel nights.
For example, check out all the hotels I’ve booked in South Africa with these points!
This post was not sponsored. The views and opinions expressed in this article are purely my own.
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