Find out why the Amex Cobalt is one of my favorite credit cards and why it should have a place in your wallet.
The best card for restaurants and groceries
One of the best perks of the Cobalt credit card is the ability to earn 5 points for every dollar spent on eats and drinks. This includes restaurants, bars, food delivery as well as supermarkets in Canada. Some members of the milesopedia community were even able to earn the same 5x while traveling outside of the country.
You will earn 5x in this category until you spend a maximum of $30,000 in purchases per year. Once you reach this threshold, you’ll earn 1 point per dollar.
New 3x bonus category
Transfer Membership Rewards to Travel Partners
What makes the American Express Cobalt™ Card even more appealing than before is the ability to transfer Membership Rewards to airline partners such as Aeroplan and British Airways Avios at a 1:1 ratio.
Previously, one of the drawbacks was that the card only earned MR Select points, and this currency was not transferable to airline partners. But now you’ll be able to transfer your points to frequent flyer programs as well as hotel loyalty partners like Hilton Honors and Marriott Bonvoy.
Mobile Phone Insurance
In addition to the current insurance coverages applicable to the American Express Cobalt™ Card there is a new mobile device insurance. When you use this card to purchase a new cellphone, American Express will cover up to $1,000 in the event of theft, loss, or accidental damage to your mobile device.
The insurance is good for a maximum of 2 years from the date of purchase.
The American Express Cobalt™ Card is currently one of the best credit cards in Canada and one of our favorites here at Milesopedia. It is the only available card in the country where you can earn up to 5 points per dollar spent on eats and drinks and also be able to transfer your points to travel partners.
The Card is now offering a welcome bonus of up to 50,000 points to eligible new cardholders. You’ll earn 2,500 points after spending $500 in purchases per month. This adds up to 30,000 points in your first year. You can also earn an additional 20,000 points after you spend $3,000 in purchases in your first 3 months of card membership.
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