The Best Things About The American Express Cobalt Card

AMEX Cobalt Points 5X Categories

The multiplier on food and drinks, including groceries, restaurants, bars, etc. is best in class earning potential. The ability to generate 5x points on your everyday food and drink buying will fast track your points accumulation.

PRO TIP : Purchase gift cards for your other stores or shopping needs at your grocery store to earn 5x . For example, buy your LCBO, Amazon, Hudson’s Bay, Best Buy iTunes or other retailer gift cards at the grocery store. You’ll get 5x on the purchase as it will be categorized as a grocery merchant transaction. Buying directly at these other retailers with your Cobalt card would only earn you 1x.

Bonus Cobalt Points

The monthly bonus points system is unique and different from most rewards cards. However, it still gives you a solid return. Spending $500 monthly on this card will unlock an additional 2,500 bonus points each month in the first year.

The $500 spend is an easy target to hit and allows you to churn other cards at the same time. I use the Cobalt for all my food, drink, transportation and gift card purchases to make most of the multiplier categories. While using another rewards card, like the American Express Gold, American Express Platinum or Marriott Bonvoy by American Express, for other purchases to hit their sign up bonuses.

AMEX Cobalt Points Redemption Breadth

Once you’re ready to put your points into action, there are plenty of opportunities to do so. You can use the American Express Fixed Points Travel Program, cash in the points as a statement credit, transfer to Marriott Bonvoy (1:1.2) or use one of the other redemption avenues American Express offers.

The best bang for your buck will definitely be through the Fixed Points Travel Program or by transferring points to Marriott Bonvoy.

Fixed Points Travel Program

With the 5x points multiplier you will unlock the opportunity to redeem for a short haul flight at 15,000 points in no time. $3,000 in spending through these 5x category will get you to that 15,000 points threshold (not to mention monthly bonuses or other spending).

The ability to fly round trip to Europe for 60,000 points is attainable with focused spending on the 5x category and ensuring you reach the $500 monthly bonus. If you’re only using the Cobalt and not another card (or perhaps you’re still using another card and do a lot of spending for the family or business).