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The point accumulation rate for travel purchases is changing on the American Express Cobalt® Card. Until now, this card earned 2 points per dollar on qualifying gas station, transit and travel transactions.
As of today, October 8, 2024, travel purchases now earn only 1 point per dollar spent, instead of 2 points.
It’s sad news, and a slight devaluation for one of Canada’s best credit cards.
The drop in the multiplier only affects travel expenses, i.e. bookings for:
These transactions now earn only one Reward Point per dollar.
However, gasoline and transportation purchases still earn 2 Membership Rewards points per dollar. Eligible expenses include:
With this devaluation, the Cobalt® Card becomes less attractive to use for travel expenses. If you’re looking for an alternative, check out our selection of the best cards for this type of purchase.
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:
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.
As of October 8, 2024, the American Express Cobalt® Card now earns only one Membership Rewards point per dollar for travel expenses, instead of 2 points. Gasoline and public transit purchases continue to generate 2 points per dollar.
Even so, it’s a card we recommend keeping year after year because of its other advantages: flexible points that can be transferred to other programs, 5 points per dollar earned at grocery stores and restaurants, and American Express’s various online offers.
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.
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