The American Specific Cobalt Card has lengthy ranked as the very best Canadian bank card for on a regular basis spending. This lifestyle-oriented card is one that each Canadian ought to have of their pockets for a large number of causes.
With excellent incomes charge multipliers, a low value, and loads of high notch switch companions, it’s no marvel that the Cobalt Card has established itself as a high contender within the Canadian market since its debut in 2017.
For those who’ve but to enroll, let’s have a look at six explanation why the American Specific Cobalt Card ought to be the subsequent bank card in your portfolio.
American Specific Cobalt Card
- Earn as much as a complete of 15,000 MR factors upon spending $750 in every of the primary 12 months
- Earn 5x MR factors on groceries, eating places, bars, and meals supply
- Earn 3x MR factors on eligible streaming companies
- Earn 2x MR factors on fuel and transit purchases
- Switch MR factors to Aeroplan, Avios, Flying Blue, Marriott Bonvoy, and extra
- Benefit from the unique advantages of being an American Specific cardholder
- Bonus MR factors for referring household and associates
- Month-to-month price: $12.99
1. Earn 5x Factors on Eats and Drinks
The American Specific Cobalt Card presents an excellent 5 Membership Rewards (MR) factors for each greenback spent at eating places, bars, cafés, meals supply companies, and even grocery shops in Canada.
On the naked minimal, these factors are price 1 cent per level, which equates to a 5% return on eats and drinks. We worth American Specific Membership Rewards factors at 2.2 cents per level, given how versatile they’re.
Utilizing this valuation, you might have a look at the speed of return at 11%, which is unparalleled in Canada. No different Canadian bank card with versatile factors currencies has this sort of earn charge, and it’s very satisfying to get 5x factors on every day necessities like groceries and eating out.
You’ll earn this 5x multiplier on as much as $2,500 spent every month, which equates to $30,000 spent per yr. Subsequently, if you happen to can max it out, that’s a whopping 150,000 MR factors in your account, along with every other factors you’d earn on the cardboard.
Curious what number of factors you might earn along with your month-to-month spending habits?
Use the calculator under to estimate what number of American Specific Membership Rewards factors you might rack up with the Cobalt Card.
In case your grocery and eating finances doesn’t fairly add as much as $2,500 every month, understand that grocery shops additionally promote reward playing cards, which you’ll then use at different companies the place you’d in any other case earn much less.
Along with this beneficiant 5x earn charge, you’ll earn 3x MR factors per greenback spent on a plethora of streaming subscriptions in Canada, together with Netflix, Disney+, Crave, Spotify, Apple Music, and extra.
You’ll additionally earn 2x MR factors per greenback spent on fuel, journey, and public transit purchases in Canada.
Sadly, the incomes charge for journey purchases is dropped to 1 level per greenback spent as of October 8, 2024. Nonetheless, you possibly can simply bypass this by having an optimized bank card portfolio, including the American Specific Gold Rewards Card or American Specific Platinum Card, each of which provide 2x MR factors on journey.
2. Modest Welcome Bonus
Along with the 5x incomes charge on meals and drinks, there’s a welcome bonus to sweeten the deal for brand new cardholders, too, which comes with a novel construction that encourages month-to-month spending.
As a substitute of a one-time bonus, you’ll obtain 1,250 MR factors for every month within the first yr as a cardholder through which you spend $750, netting you to a complete of 15,000 MR factors for the welcome bonus.
Membership Rewards factors have a tonne of energy, as they offer you a number of choices for redemptions. You possibly can select to switch them to airline or lodge loyalty applications, redeem them for flights with the Amex Fastened Factors Journey Program, or apply them as an announcement credit score in opposition to any buy.
Whereas there are definitely different playing cards different there with increased welcome bonuses, these typically come at the next value and with much less aggressive incomes charges for on a regular basis spending. Certainly, with the Cobalt Card, you’ll be sure you watch your factors steadiness develop shortly with the month-to-month bonuses and your every day spending mixed.
3. Earn Membership Rewards Factors
American Specific Membership Rewards are probably the most versatile and versatile factors foreign money in Canada. That’s as a result of they will do every little thing {that a} money again or fixed-value factors foreign money can do, however they will additionally do way more.
For instance, you possibly can redeem your factors in opposition to any buy made to the cardboard at a price of 1 cent per level by means of the “Use Factors for Purchases” redemption possibility. Whereas there are definitely different methods to get larger worth out of your factors, if you happen to’re in search of a easy method to offset prices, Amex MR factors supply an important possibility.
Understand that the cardboard earns 5x factors on eats and drinks, and if you happen to redeem factors for an announcement credit score at a charge of 1 cent per level, you’re taking a look at a wholesome 5% return on spending, which is nice!
Different factors applications in Canada supply the choice to ebook flights at the next worth of round 2 cents per level. Thankfully, Amex MR factors additionally supply this selection by means of the Amex Fastened Factors Journey Program.
Nonetheless, if you happen to’re in search of probably the most priceless method to redeem your factors, look no additional than the lengthy checklist of airline and lodge loyalty program switch companions accessible by means of Membership Rewards.
4. Airline & Lodge Switch Companions
American Specific permits you to switch Membership Rewards factors to 6 totally different airline loyalty applications and two lodge loyalty applications. Amongst them are a number of the hottest frequent traveller applications on the market, together with high loyalty applications from every of the three main airline alliances.
Aeroplan
Membership Rewards factors might be transferred to Aeroplan factors at a 1:1 ratio in increments of 100 factors, beginning at 1,000 MR factors.
Aeroplan factors are probably the most priceless sort of airline factors for Canadians to earn, as they will simply unlock discounted journey in financial system class, enterprise class, and First Class to locations all around the world.
As a member of Star Alliance, along with reserving Air Canada flights, you can even use Aeroplan factors to ebook flights with different Star Alliance members, reminiscent of United Airways, Lufthansa, All Nippon Airways, Thai Airways, Singapore Airways, and lots of extra.
Plus, Aeroplan companions with different airways that don’t belong to Star Alliance, which opens the door for distinctive redemptions all around the world.
Aeroplan stays among the finest loyalty applications within the the world, and having the choice to earn MR factors on the Cobalt Card and convert them to Aeroplan factors is without doubt one of the greatest methods to leverage the various candy spots in this system.
British Airways Avios
The British Airways Membership is one other nice possibility for transferring American Specific MR factors, as there are fairly a couple of candy spots for short-haul flights throughout totally different locations on this planet, together with Europe, Asia, and Australia with oneworld airways.
Much like Aeroplan, MR factors might be transferred to British Airways Avios at a 1:1 ratio in increments of 100, and with a minimal of 1,000 MR factors.
Plus, with the partnership between British Airways and Qatar Airways, you can even switch your Avios between the 2 applications immediately, permitting you to ebook the world’s greatest enterprise class – Qatar Airways Qsuites – beginning at simply 70,000 Avios one-way from North America to Doha.
Air France KLM Flying Blue
Representing the SkyTeam alliance, Air France KLM Flying Blue is without doubt one of the greatest applications for reserving transatlantic flights in financial system, premium financial system, or enterprise class.
That’s as a result of flights with Air France and KLM have the next “Saver”-level costs for flights from wherever in North America to wherever in Europe:
- Economic system: 25,000 miles
- Premium financial system: 40,000 miles
- Enterprise class: 60,000 miles
One factor to remember is that the switch ratio to Flying Blue is 1:0.75, so that you’ll have to issue that in if you’re deciding which program to ebook flights with.
Nonetheless, you’ll additionally need to take note of this system’s month-to-month Promo Rewards, which provide reductions on award journey of as much as 50%. For those who can snag a flight on an eligible route, the sub-par switch charge turns into much less burdensome.
Marriott Bonvoy
Marriott is the world’s largest lodge chain, with a powerful international footprint of over 7,500 inns. Membership Rewards factors might be transformed into Marriott Bonvoy factors at a charge of 5:6, that means that you just’ll get 1,200 Bonvoy factors for each 1,000 MR factors you switch.
Whereas it’s normally extra advisable to switch Membership Reward factors to Air Canada Aeroplan, The British Airways Membership, or Air France KLM Flying Blue, there’s nonetheless a number of worth to be discovered within the Marriott Bonvoy program.
That is particularly the case if you happen to’re travelling in locations like Asia or the Center East, the place Marriott Bonvoy Elite standing goes a good distance in the direction of elevating your journey expertise.
5. Entry to Amex Presents
Holding an American Specific card comes with many further advantages, reminiscent of entry to Amex Presents.
Among the different extra in style Amex Presents we’ve seen not too long ago are the annual Store Small promotion and the recurring Marriott supply.
To be able to benefit from these and different presents that pop up, you’ll need to navigate to the Amex Presents part on-line after logging in, or just logging into your account.
The presents undoubtedly add up over time, and may simply offset the month-to-month price with a single buy.
6. Insurance coverage Protection
The American Specific Cobalt Card wraps issues up with a stable checklist of insurance coverage provisions for a card in its value vary.
Just by being a Cobalt cardholder, you’ll routinely obtain emergency medical insurance coverage for 15 days, as much as a most of $5,000,000, if you happen to’re underneath the age of 65.
Moreover, if you happen to use your Cobalt Card to pay in your journey bills, you’ll be eligible to obtain many extra forms of journey insurance coverage protection, which incorporates:
- Misplaced or stolen baggage insurance coverage, as much as a most of $500 per journey
- $250,000 journey accident insurance coverage
- Flight and baggage delay insurance coverage, as much as a most of $500
- Lodge housebreaking insurance coverage, as much as a most of $500
- Automobile rental theft and injury insurance coverage
Journey cancellation and interruption insurance coverage is a noteworthy omission that you just’d discover on different bank cards in the same price vary, in order that’s one thing to weigh up if these forms of journey insurance coverage are significant to you.
Buy safety, prolonged guarantee, and cellular machine insurance coverage spherical out the protection sorts.
Conclusion
The American Specific Cobalt Card is the very best all-around Canadian bank card in terms of on a regular basis spending.
The Membership Rewards factors earned by means of its welcome bonus and beneficiant class spending multipliers, when transferred to one in every of American Specific’s airline or lodge companions, can go a good distance in the direction of fuelling your subsequent journey.
Any Canadian family can reliably earn a handful of high-value journey redemptions yr after yr just by utilizing the Cobalt Card to pay for his or her grocery and eating bills – and you’ll’t actually ask for extra from a bank card than that!
