Are you a Canadian seeking a credit card that doesn't just offer rewards but transforms the way you experience life's moments? Look no further than the American Express Cobalt Card, a dynamic and innovative offering that has not only set a new standard for rewards but has earned the reputation of Canada’s best credit card.

In this blog, we will embark on a journey to unravel the myriad reasons why the Cobalt Card stands head and shoulders above the competition, and how it reshapes your perspective on rewards and benefits. From its vibrant welcome bonus to its unmatched rewards structure and exclusive perks, the Amex Cobalt Card isn’t just a credit card - it’s a passport to redefining what it means to truly live in luxury and reward.

Welcome Bonus: A Vibrant Start to Your Journey

The American Express Cobalt Card begins your journey with an exciting and unique welcome bonus structure. As a new Amex Cobalt Cardmember, you have the opportunity to earn up to 15,000 Membership Rewards points within your first year. This bonus is structured to celebrate your spending over time, where you can earn 1,250 Membership Rewards points for each monthly billing period in which you spend $750 in purchases on your Card. This resets the following month, where you can earn another 1,250 Membership Rewards points. Over the course of a year, this continuous 1,250 MR points could accumulate to 30,000 MR points.

Monthly Fee: Designed for Flexibility

The Amex Cobalt Card offers a monthly fee of $12.99. With this uniquely structured fee, you have the flexibility to experience the best that the Cobalt Card has to offer without a hefty upfront annual cost. In fact, when you calculate the numbers, this monthly fee equates to an annual fee of $155.88—a remarkably competitive price for the unparalleled rewards and benefits at your disposal.

What truly sets the Amex Cobalt Card apart is that it stands as the pioneer in offering a monthly fee structure. In a world where traditional annual fees can be burdensome, the Amex Cobalt Card's monthly fee option empowers you to enjoy elite benefits and experiences without committing to a large upfront payment. This flexible approach aligns with your lifestyle, ensuring that the Amex Cobalt Card remains not just a credit card, but a symbol of convenience, value, and customer-centric innovation. Experience the future of credit card fee structures with the American Express Cobalt Card—the card that redefines how you engage with premium benefits.

Exceptional Earnings: Redefining Rewards

The American Express Cobalt Card brings an unparalleled rewards structure that caters to your everyday activities, enhancing the value of each transaction:

Starting from August 15, 2023, your 5x points per dollar spent on eligible eats and drinks purchases in Canada will be capped at $2,500 monthly. This limit is kept to ensure users don’t take advantage of the generous 5x rewards. However, note that an average person like yourself will not be affected by this change - $2,500 on eats is more than enough for most people! After reaching this threshold, you'll continue to earn 1x points per dollar spent. The calculation resets to zero on the 1st of each month, ensuring that your reward potential is continuously refreshed.

5 MR Points per Dollar on Eats and Drinks:

Indulge in your culinary cravings and social outings while earning an impressive 5 Membership Rewards points per dollar spent for every dollar spent on eligible dining and grocery purchases. From morning coffee rituals to memorable dining experiences, your everyday moments become rewarding.

3 MR Points per Dollar on Eligible Streaming Subscriptions:

Elevate your entertainment with 3 times the points per dollar spent on eligible streaming subscriptions in Canada. From music to movies, your leisure moments are now more rewarding than ever.

2 MR Points per Dollar on Eligible Transit, Gas, and Travel Purchases: 

Move through life with ease knowing that you earn 2 times the points per dollar spent on eligible transit and gas purchases in Canada, as well as on eligible travel purchases. Whether you're commuting, exploring, or embarking on a journey, your points add up swiftly. Whether it's a weekend getaway or a dream vacation, the rewards follow you wherever you go.

1 MR Point per Dollar on Everything Else:

Even when you're not dining, streaming, commuting, or travelling, you're still rewarded with 1 MR point per dollar spent on all other everyday purchases. Every aspect of net purchases and your lifestyle contributes to building your rewards.

Bonus Points on Hotel and Car Rental Bookings:

Enhance your travels further with an additional Membership Rewards point for every $1 you charge to your Amex Cobalt Card on eligible hotel or car rental bookings made with American Express Travel at www.americanexpress.ca/travel. Elevate your stay and journey with every booking.

Here is the list of all eligible stores, restaurants, and multipliers values in Canada.

Referral Rewards: Sharing the Benefits

The American Express Cobalt Card not only rewards your personal spending but also values the power of sharing. As an eligible Basic card member, you have the opportunity to refer friends and family to the Amex Cobalt Card and earn substantial referral bonuses for each approved referral.

Here's how the referral program works:

Refer Friends, Earn Rewards: 

When you refer someone to apply for the American Express Cobalt Card and they are approved, you'll receive a referral bonus. This bonus adds up for each successful referral, allowing you to unlock a world of additional rewards just by sharing the benefits of the Amex Cobalt Card.

Maximum Annual Referral Bonus: 

The potential of this membership rewards program really is remarkable. As an eligible Basic Cardmember, you can earn referral bonuses for multiple approved referrals. There's an annual cap on how much you can earn through referrals – a maximum annual referral bonus of 75,000 Membership Rewards points.

Amplify Your Rewards Network: 

By referring your friends, family, and acquaintances, you're expanding your circle of fellow Amex Cobalt Card enthusiasts. You're not only helping them access the benefits of this exceptional card but also enriching their own rewards journey with bonus reward offers for every successful referral.

This referral rewards program serves as a testament to the value American Express places on its card members. It's a win-win situation – your friends and family gain access to a card that offers remarkable benefits, and you're rewarded for introducing them to this world of luxury and rewards. So, start sharing the Amex Cobalt experience and watch as your rewards portfolio grows through the power of referrals.

Flexible Redemption: Your Choices, Your Way

With the Cobalt Card, the power to choose how you redeem membership rewards points, your membership rewards program now lies in your hands:

Transfer Points to Travel Partners: 

Opt for flexible point transfers to various travel loyalty programs. This will enable you to maximize the value of your rewards for flights, accommodations, and more. Transferring your Membership Rewards points to airline points like Aeroplan is the best way to maximize your MR points.

One of the exceptional features of the American Express Cobalt Card is its American Express Membership Rewards program, offering a plethora of options for redeeming your hard-earned points. Among these options, the ability to transfer your Membership Rewards points to various loyalty programs stands out. This opens up a world of possibilities, allowing you to convert your points into frequent flyer miles or hotel loyalty points with a variety of partners.

Imagine turning your everyday spending into dream vacations, upgrades, or even unique experiences with an array of travel partners. From airlines to hotel chains, the ability to transfer your points on a 1:1 basis broadens the horizon of your rewards journey, ensuring that every point earned is a step toward fulfilling your travel aspirations.

Statement Credit and More:

Use your MR points to offset eligible purchases or redeem them for a statement credit, providing you with the freedom to decide how to make the most of your rewards.

Requirements: 

American Express Membership does not require you to meet a minimum income requirement. The American Express Cobalt Card is available to Canadian residents with a valid Canadian credit file who have reached the age of majority. If you meet these criteria, you're primed to explore the remarkable benefits and privileges that come with this card.

Distinctive Benefits: Amplify Your Lifestyle

The Amex Cobalt Card isn't just about rewards; it's about enhancing your everyday experiences:

Amex Cobalt Perks

Immerse yourself in exclusive monthly offers and experiences tailored to your passions. From dining and entertainment to wellness and shopping, Amex Cobalt Perks are designed to make every facet of your life more rewarding.

Hotel Collection:

Elevate your getaways with The Hotel Collection through American Express Travel. Enjoy distinct benefits like up to $100 USD hotel credit for dining, spa, or other amenities charged to your room, and a complimentary one-category room upgrade when available, ensuring that your stays are as luxurious as they are memorable.

Buyer’s Assurance Protection Plan:

Extend the manufacturer's warranty by up to an additional year when eligible items are fully charged to your American Express Cobalt Card, providing added confidence and security for your purchases.

Purchase Protection Plan:

With the Amex Purchase Protection Plan, ensure eligible items are charged to your Cobalt Card against accidental physical damage or theft for up to $1,000 per occurrence (for all purchased items combined) for 90 days from the date of purchase.

Comprehensive Insurance: Safeguarding Your Journey

The American Express Cobalt Card goes beyond rewards to offer essential insurance coverage, ensuring that your travels and purchases are protected: 

Mobile Device Insurance:

Receive coverage of up to $1,000 per insured person for eligible mobile devices in the event of theft, loss, or accidental damage, both domestically and internationally. This coverage extends up to 2 years from the date of purchase.

Out of Province/Country Emergency Medical Insurance:

Travel with confidence, knowing you're covered for eligible emergency medical expenses incurred outside your Canadian province or territory of residence for the first 15 consecutive days of your trip, up to $5,000,000.

Flight Delay Insurance:

Stay comfortable and stress-free in case of flight delays with Amex Flight Delay Insurance. Enjoy coverage of up to $500 for necessary accommodations, restaurant expenses, and sundry items purchased within 48 hours when your flight is delayed for 4 hours or more.

Baggage Delay Insurance:

Be prepared for unexpected delays. Receive up to $500 in baggage delay insurance for essential emergency purchases of clothing and essentials made within four days of arrival when your checked-in baggage is delayed for 6 or more hours.

Hotel Burglary Insurance:

Rest easy knowing your personal items are protected against loss due to burglary when you charge your accommodations to your Amex Cobalt Card.

Lost or Stolen Baggage Insurance:

Whether checked-in or carry-on baggage, with Amex Stolen Baggage Insurance, your baggage and personal effects are covered for up to $500 per trip when in transit.

$250,000 Travel Accident Insurance:

Travel confidently with up to $250,000 in coverage for accidental death and dismemberment when common carrier tickets are charged to your Cobalt Card.

Car Rental Theft and Damage Insurance:

Say no to rental car insurance fees. Receive coverage for theft, loss, and damage of rental cars with an MSRP of up to $85,000 for rentals of 48 days or less when you fully charge your rental to your Amex Cobalt Card.

Front-of-Line Access:

Be the first in line for presale concert tickets, theatre shows, and special events, adding an element of excitement to your entertainment endeavours. As an American Express Cobalt cardholder, you gain access to exclusive presales and reserved and discounted companion tickets for concerts, theatre shows, restaurants, and other special events. You can also take advantage of complimentary entertainment, dining, retail, wellness, and more programs.

Why is AMEX Cobalt worth using with Chexy?

Pairing the American Express Cobalt Card with Chexy is a strategic move that unlocks even more value for your financial journey:

Easily Attainable Welcome Bonus:

Using Chexy to pay rent with your Amex Cobalt is a great way to meet Minimum Spending Requirements (MSRs) for your welcome bonus without overspending money on unnecessary expenses. Your rent will easily cover all of the $750 MSRs for your welcome bonus!

Earn Membership Rewards Points with Chexy for Free

When used in conjunction with Chexy, the American Express Cobalt Card’s rewards take on a new dimension. MR points are effectively worth 2 cents per point (when converted to Aeroplan points) Even after accounting for a 2.5% fee, you can still earn free 0.25 cents per dollar for your rent amount. If your rent is $2,500, that is an additional 6.25 bucks per month that can be used for your next travel. The value may seem minimal, but the accumulated value is huge, and it’s free!

Final Tips: Maximizing Your Rewards

As you embark on your rewarding journey with the American Express Cobalt Card, here's a valuable tip to further amplify your rewards potential:

Maximize your MR points

The American Express Cobalt Card's rewards take on a new dimension if you transfer it correctly. Aeroplan points are generally valued at 2 cents per point (going up to 3 cents per point), and since MR points can be transferred to Aeroplan points on a 1:1 basis, your MR points are effectively worth 2 cents per multiplier value. That equals a whopping 10% cash-back value. Have you ever seen a credit card that provides 10% cash back to groceries and restaurants? This itself explains why the Amex Cobalt Card is by far the best credit card in Canada

Buy Gift Cards at Grocery Stores:

Uncover a clever way to earn 5 times the rewards on purchases that you wouldn't normally expect. When you shop at grocery stores using your Amex Cobalt Card, you earn 5 times the points per dollar spent. Extend this advantage by purchasing gift cards for other establishments during your grocery runs. Whether it's a favourite clothing store, online retailer, or even a movie theatre, buying gift cards at grocery stores lets you earn those coveted 5 times the points on places you wouldn't have imagined. This strategy multiplies your rewards on various aspects of your lifestyle, allowing you to enjoy the benefits of the Cobalt Card across a wider range of purchases.

Empower Your Everyday with American Express Cobalt

In conclusion, the American Express Cobalt Card is a testament to the fact that rewards cards can do much more than simply offer points. With its vibrant welcome bonus, diverse rewards structure, and exclusive benefits, the Amex Cobalt Card seamlessly integrates into your lifestyle, amplifying every moment with value and delight. From savouring culinary delights to exploring new horizons, this card redefines what it means to be rewarded. If you're ready to infuse your everyday experiences with exceptional value and unforgettable memories, the American Express Cobalt Card awaits your embrace.

Frequently Asked Questions

1. What is the American Express Cobalt Card?

The American Express Cobalt Card is a premium credit card designed to enhance your everyday experiences through a unique rewards structure, exclusive benefits, and comprehensive insurance coverage. It offers the flexibility of a monthly fee, making it accessible and tailored to your lifestyle.

2. How does the welcome bonus work with the American Express Cobalt Card?

The welcome bonus with the American Express Cobalt Card is designed to reward you for getting started with the card. As a new Cobalt Cardmember, you have the opportunity to earn up to 15,000 Membership Rewards points in your first year. Here's how it works:

For each monthly billing period in which you spend $750 in purchases on your Cobalt Card, you'll earn 1,250 Membership Rewards points. This means that over the course of a year, with consistent spending of $750 or more per month, you can accumulate up to 15,000 points.

These points can be incredibly valuable, providing you with the potential to offset travel expenses, enjoy dining experiences, or redeem for a variety of other rewards. It's important to note that the welcome bonus calculation resets at the beginning of each billing period, allowing you to continue earning points throughout your first year as a Cobalt Cardmember.

Feel free to take full advantage of this exciting opportunity to earn a substantial number of points while enjoying the exceptional benefits that the Cobalt Card offers.

3. How do I earn rewards with the Cobalt Card?

Earning rewards with the Cobalt Card is easy and exciting. You earn 5 times points per dollar spent on eligible eats and drinks, 3 times points per dollar spent on eligible streaming subscriptions, 2 times points per dollar spent on eligible transit, gas, and travel purchases, and 1 point per dollar on everything else. You can also earn additional points per dollar on eligible hotel or car rental bookings made through American Express Travel. These points can then be redeemed for various travel, shopping, and entertainment experiences.

4. How does the monthly fee work?

The American Express Cobalt Card introduces a unique monthly fee structure, making it distinct from traditional annual fees. The fee is $12.99, amounting to an annual fee of $155.88. This approach provides greater flexibility, allowing you to enjoy premium benefits without a hefty upfront annual cost. It's the perfect fit for those seeking accessible luxury.

5. What travel benefits and insurance does the Cobalt Card offer?

The Cobalt Card offers an array of travel benefits, including The Hotel Collection perks, exclusive monthly offers through Amex Cobalt Perks, and comprehensive insurance coverage. You'll find coverage for emergency medical expenses, trip cancellations and interruptions, flight delays, baggage delays, travel accidents, car rental theft and damage, and more. This ensures you're well-protected during your journeys.

6. How can I refer friends to the Cobalt Card and earn rewards?

As an eligible Basic Cardmember, you have the opportunity to refer friends and family to the American Express Cobalt Card and earn referral bonuses of 5,000 American Express Membership Rewards for each approved referral. You can earn up to a total annual referral bonus of 75,000 Membership Rewards points for approved referrals. Sharing the benefits of the Amex Cobalt Card with your network not only introduces them to a world of rewards but also rewards you for sharing the experience.

7. How do I apply for the American Express Cobalt Card?

Applying for the American Express Cobalt Card is a straightforward process. You can visit the official American Express website and navigate to the Cobalt page. From there, you'll find a simple online application form to fill out. Make sure you have your personal and financial information handy for a smooth application process. Once submitted, your application will be reviewed, and you'll be notified of the decision. If approved, your new Cobalt Card will be sent to you, ready to unlock a world of rewards.

8. Can I use the Cobalt Card for business expenses?

While the American Express Cobalt Card is designed for personal use, American Express offers a range of cards specifically tailored for business needs. If you're a business owner or entrepreneur, consider exploring American Express's lineup of business credit cards to find the one that best suits your business requirements.

9. What should I do if my Cobalt Card is lost or stolen?

If your Cobalt Card is lost or stolen, it's important to take swift action to protect your account. Contact American Express customer service immediately using the provided phone number. They will guide you through the necessary steps, including reporting the loss, verifying your identity, and arranging for a replacement card to be sent to you. Remember, reporting a lost or stolen card promptly helps safeguard your account and prevents unauthorized transactions.

10. Are there any foreign transaction fees with the Cobalt Card?

The American Express Cobalt Card is known for its travel-friendly features, but it's important to note that it does come with a foreign exchange fee. When you use your Cobalt Card for purchases made in foreign currencies, a foreign exchange fee of 2.5% will apply to the total transaction amount. This fee covers the cost of converting the foreign currency into your home currency. While the Cobalt Card offers a range of travel benefits, it's advisable to consider this fee when using the card for international transactions. If you frequently travel or make purchases in foreign currencies, you may want to explore other credit card options that offer lower or no foreign exchange fees. Always review the terms and conditions of your card to understand the fee structure associated with foreign transactions.

11. How can I stay updated on new Cobalt Perks and offers?

Staying updated on the latest Cobalt Perks and offers is easy. Make sure to regularly check the official American Express app, where you'll find information on new monthly offers and experiences. Additionally, consider subscribing to American Express newsletters or following their official social media channels for real-time updates on exclusive offers, dining events, entertainment opportunities, and more.

Feel free to explore the Cobalt Card's extensive benefits, rewards, and services through the information provided on the American Express website or by contacting their dedicated customer service team for any further assistance.

Click here to learn about other top American Express credit cards you can use with Chexy.

Sign up for The Chexy Rundown for more exclusive credit card and flight deals you won't want to miss.