Amex Cobalt Card: Travel multiplier reduced to 1 Membership Rewards point per dollar

To the point As of October 8, 2024, the accumulation rate for travel expenses made with the American Express Cobalt card will be reduced from 2 points per dollar to 1 point per dollar.

De 2 points par dollar pour les voyages à 1 point par dollar 2x multiplier maintained for gas and transit expenses

Alternatives for travel expenses Bottom Line

Carte Cobalt American Express - De 2 points par dollar pour les voyages à 1 point par dollar

American Express has announced important news today: the points accumulation rate for travel purchases will change on the Cobalt Card^®.

To date, this card offered 2 points per dollar on qualifying transactions at gas stations, on public transit and on travel.

However, from October 8, 2024, travel purchases will earn only 1 point for every dollar spent, instead of 2 points.

It’s sad news, and a slight devaluation for one of Canada’s best credit cards.

2x multiplier maintained for gas and transit expenses

The reduction in the multiplier will only affect travel expenses, i.e. bookings for :

Flights ;
Hotels and accommodation ;
Ferries and cruises ;
Trains ;
Vacation and other travel packages.

These transactions earn only one Membership Rewards point per dollar.

However, gas and transportation purchases will still earn 2 Membership Rewards points per dollar. Eligible expenses include :

Autonomous automobile service stations in Canada ;
Local public transit in Canada, including subways, streetcars, cabs, limousines and online car-sharing services.

American Express Cobalt Card - Alternatives for travel expenses

If you plan to make travel purchases with your American Express Cobalt^® Card in the coming months, our recommendation is to do so before October 8, 2024. After this date, the Cobalt^® Card may not be the most advantageous in your wallet for this type of expense.

The American Express Gold Rewards^® Card continues to offer 2 Membership Rewards points per dollar for travel, transportation, grocery and drugstore expenses in Canada. In addition, it offers :

Excellent travel insurance ;
An annual $100 travel credit on the American Express Travel platform;
4 annual passes for Plaza Premium lounges at Canadian airports and ;
A $50 credit towards the NEXUS membership fee.

With all these benefits, the American Express Gold Rewards^® Card is the perfect companion to the Cobalt^® Card in your wallet to earn even more Membership Rewards points on your everyday purchases.

Bottom Line

Unfortunately, as of October 8, 2024, the American Express Cobalt^® Card will earn onlyone Membership Rewards Point per dollar for travel expenses instead of 2 points. However, gas and public transit purchases will continue to generate 2 points per dollar.

To maximize the accumulation of Membership Rewards points on a daily basis, also consider the American Express Gold Rewards^® Card. This offers numerous travel benefits, as well as attractive multipliers for transportation, grocery and pharmacy expenses.