How exactly do I unlock the 15,000-point welcome bonus on the American Express Cobalt Card?

The current welcome bonus on the American Express Cobalt Card rewards you with up to 15,000 Membership Rewards points, but the structure is monthly, not a single big spend. You earn 1,250 bonus points each month you spend at least $750 in net purchases during the first 12 months. Hit the threshold every month and you walk away with the full 15,000 points, plus the regular category multipliers on top. Outside Quebec, the card costs $12.99 monthly ($155.88 annually). Set up a recurring grocery or restaurant charge to comfortably clear $750 each cycle and never miss a tier.

What are 15,000 Membership Rewards points actually worth?

The headline value depends on how you redeem. Used as a statement credit, 15,000 Membership Rewards points are worth a flat $150 (1 cent per point). The far better play is transferring them to airline partners — Aeroplan at 1:1, British Airways Avios at 1:1, Marriott Bonvoy at 5:6, or Flying Blue at 1:1. A short-haul Aeroplan flight starts at 6,000 points one-way, so 15,000 points can cover a return trip Montreal to Toronto. Through the Amex Fixed Points Travel program, the same points can stretch to roughly $300 in flights, which is the redemption Milesopedia recommends to maximize value.

Which categories earn 5x points on the Cobalt Card?

The 5x multiplier is the engine of the Cobalt Card and applies to a generous list of everyday spending: groceries (including most chains), restaurants, bars, food delivery apps like Uber Eats and DoorDash, and convenience stores. There is an annual cap of $30,000 in eligible spending at 5x, after which earnings drop to 1x. Streaming services such as Netflix, Spotify and Disney+ earn 3x, gas and transit (including Uber rides and STM passes) earn 2x, and everything else earns 1x. Buying gift cards inside grocery stores still triggers 5x, which is the trick most rewards collectors use to amplify gas, travel and even rent payments.

Is the Cobalt Card worth keeping after the first year?

For most points collectors who eat out, order delivery or buy groceries weekly, yes — the math works easily. At 5x on $1,500 of monthly grocery and restaurant spend, you generate 90,000 points a year, which transferred to Aeroplan is worth roughly $1,800 in short-haul flights. That dwarfs the $155.88 annual fee. The card also has no minimum income requirement, includes mobile device insurance up to $1,000, flight delay and baggage coverage, and lets you pay the fee in monthly installments, which softens the renewal decision. If your spending shifts away from food categories, the Scotiabank Gold American Express may be a better fit.