American Express Canada has introduced a new credit card in it’s large suit of products this week, the Cobalt card.
The American Express Cobalt card comes with a sign-up bonus of 40,000 points, but you won’t get all those points at once.
You’ll earn 2,500 points for each monthly billing period in which you spend $500 in purchases — up to 30,000 per year.
As part of their promotion, you’ll earn 10,000 points when you apply by January 1, 2018, and spend $3,000 within your first three months of becoming a cardholder.
As for earning on everyday spend, you’ll get 5x points on purchases at eligible bars, restaurants, grocery stores and food delivery in Canada, 2x points on eligible transit and gas purchases in Canada and other eligible travel purchases, as well as 1x points on everything else. The Cobalt Card comes with a monthly fee of $10, or a total of $120 annually.
I haven’t seen another card break down the fee monthly but whatever works!
You can no longer transfer points to Aeroplan or Avios (the airline travel partners) but they have some other transfers:
- Points that you earn can be redeemed through the Amex Fixed Points Travel Program. You can fly on a short-haul route from Toronto to New York in economy for 15,000 points round-trip, as long as the maximum base ticket price is less than $300.
- Transfer to Starwood Points. The points transfer to Starwood at a 2:1 ratio, effectively making the 5x food category worth 2.5x when transferred to the program. Meaning you would earn 2.5 Starwood points per dollar spent = 7.5 Marriott Points per dollar spent!
What do you think about this new card?