Welcome to our review of the Amex Cobalt, the highly praised credit card in Canada. In this article, we will delve into the features, benefits, and rewards of the Amex Cobalt, providing you with a comprehensive understanding of why it is considered one of the best travel credit cards in the country.
The Amex Cobalt is renowned for its superior earn rate, particularly on restaurants and groceries. It offers consumer insurance coverage, superb travel coverage, and exclusive American Express benefits. With a monthly fee of $12.99 and an annual fee of $155.98, the Amex Cobalt is packed with value for cardholders.
Key Takeaways:
- The Amex Cobalt is a highly praised credit card in Canada.
- It offers a superior earn rate on restaurants and groceries.
- Cardholders enjoy consumer insurance coverage and superb travel coverage.
- Exclusive American Express benefits are included.
- The Amex Cobalt has a monthly fee of $12.99 and an annual fee of $155.98.
Superior Earn Rate
The American Express Cobalt is renowned for its superior earn rate, making it an exceptional choice for Canadian credit card holders. With an emphasis on restaurants and groceries, the Cobalt offers the best earn rate of any credit card in Canada. This makes it particularly advantageous for individuals who spend heavily in these categories, allowing them to accumulate rewards at an accelerated pace.
By choosing the Amex Cobalt, you can maximize your earning potential and enjoy the benefits of a high-performing credit card. Whether you frequently dine out or regularly stock up on groceries, the Cobalt’s superior earn rate ensures that every dollar you spend translates into valuable rewards. This makes it an ideal choice for individuals seeking a credit card that aligns with their lifestyle and spending habits.
Furthermore, the Cobalt’s superior earn rate extends beyond restaurants and groceries. The card also offers rewarding earn rates on a wide range of other categories, including streaming subscriptions, ride shares, transit, and gas. This comprehensive earning structure provides cardholders with ample opportunities to earn rewards on their everyday expenses, ultimately enhancing the value they receive from their credit card.
Comparison of Earn Rates
| Credit Card | Earn Rate on Restaurants | Earn Rate on Groceries | Earn Rate on Other Categories |
|---|---|---|---|
| Amex Cobalt | 5 points per dollar | 5 points per dollar | 2 points per dollar |
| Competitor A | 3 points per dollar | 2 points per dollar | 1 point per dollar |
| Competitor B | 4 points per dollar | 3 points per dollar | 1.5 points per dollar |
As shown in the table above, the Cobalt outshines its competitors with its exceptional earn rates on restaurants and groceries. With 5 points per dollar spent in these categories, it offers a significant advantage over other credit cards that offer lower earn rates. Furthermore, the Cobalt’s earn rate of 2 points per dollar on other categories ensures that your everyday expenses are also rewarded.
Consumer Insurance Coverage
The Amex Cobalt offers comprehensive consumer insurance coverage, providing cardholders with valuable protection and peace of mind. Whether it’s safeguarding your mobile devices or covering rental car theft and damage, this credit card ensures that you are well protected in case of any unfortunate incidents.
With the Amex Cobalt, you can enjoy the following insurance benefits:
- Protection for your mobile devices against theft, loss, or damage.
- Coverage for theft and damage of rental cars when you pay for the rental with your Amex Cobalt card.
These insurance benefits offer valuable protection and can save you from the financial burden of unexpected events. Whether it’s a stolen phone or a damaged rental car, the Amex Cobalt has got you covered.
“The Amex Cobalt’s consumer insurance coverage provides peace of mind knowing that I’m protected against unexpected incidents. It’s a great added benefit that sets this credit card apart from others.” – Satisfied Amex Cobalt cardholder
| Insurance Coverage | Description |
|---|---|
| Mobile Device Protection | Covers theft, loss, or accidental damage of eligible mobile devices. |
| Rental Car Theft and Damage Coverage | Covers theft and damage of rental cars when paid for with the Amex Cobalt card. |
Superb Travel Coverage
When it comes to travel coverage, the Amex Cobalt has you covered. Whether you’re traveling for business or pleasure, the card offers a range of benefits to ensure your peace of mind. Let’s take a closer look at the superb travel coverage provided by the Amex Cobalt:
Emergency Medical Coverage
In the unfortunate event of a medical emergency while traveling, the Amex Cobalt provides 15 days of emergency medical coverage. This coverage includes expenses such as hospital stays, medical treatments, and emergency medical transportation. It’s important to note that certain pre-existing medical conditions may not be covered, so it’s always best to review the terms and conditions of your coverage.
Travel Accident Insurance
With $250,000 of travel accident insurance, the Amex Cobalt ensures that you’re protected in the event of a travel-related accident. This coverage provides financial protection to you or your loved ones in the unfortunate event of accidental death or dismemberment during your trip.
Flight and Baggage Delay
The Amex Cobalt also offers coverage for flight and baggage delays. If your flight is delayed by a specified amount of time, you may be eligible for reimbursement of expenses such as meals and accommodations. Additionally, if your baggage is delayed or lost, the card provides coverage for the purchase of essential items.
| Travel Coverage Benefits | Details |
|---|---|
| Emergency Medical Coverage | 15 days of coverage for medical emergencies |
| Travel Accident Insurance | $250,000 in coverage for travel-related accidents |
| Flight and Baggage Delay | Reimbursement for expenses due to delays and lost baggage |
With its superb travel coverage, the Amex Cobalt ensures that you can travel with confidence, knowing that you’re protected in case of any unforeseen circumstances. From emergency medical coverage to travel accident insurance and coverage for flight and baggage delays, this credit card offers comprehensive protection for your travels.
American Express Benefits
As a cardholder of the Amex Cobalt, you gain access to a range of exclusive American Express benefits. These perks are designed to enhance your overall experience and provide you with added value.
Front Of The Line Presale Tickets
One of the standout benefits is the Front Of The Line presale tickets. This gives you the opportunity to secure tickets to hot entertainment events before they are available to the general public. Whether it’s a concert, sporting event, or theater performance, you can enjoy priority access and ensure you don’t miss out on your favorite artists and shows.
Access to Amex Lounges
Another notable benefit is access to Amex lounges at select venues. These lounges provide a comfortable and exclusive space for you to relax and unwind before your flight or during a layover. Enjoy complimentary snacks and beverages, Wi-Fi access, and a quiet environment away from the hustle and bustle of the airport.
With these American Express benefits, you can elevate your experiences and make the most out of your Amex Cobalt card.
| Benefits | Description |
|---|---|
| Front Of The Line Presale Tickets | Get early access to tickets for entertainment events. |
| Access to Amex Lounges | Enjoy the comfort and amenities of Amex lounges at select venues. |
Bonus Perks
Along with its superior earn rate, the Amex Cobalt offers an array of bonus perks that elevate the cardholder experience. One notable perk is Front Of The Line presale tickets, granting you exclusive access to hot concerts and events. Whether you’re a music enthusiast or a fan of live performances, this perk ensures you never miss out on the hottest shows in town.
Another impressive perk is access to the Amex Lounge. Step into a world of luxury and relaxation at select venues, where you can unwind before your flight or during layovers. The Amex Lounge offers a range of amenities, including comfortable seating, complimentary refreshments, and high-speed Wi-Fi. It’s the perfect way to start your journey or take a well-deserved break during your travels.
These bonus perks truly enhance your overall experience as an Amex Cobalt cardholder. From exclusive tickets to unforgettable events to access to premium airport lounges, you’ll enjoy a VIP treatment that adds an extra touch of luxury to your lifestyle.
Benefits of Amex Cobalt Bonus Perks:
- Front Of The Line presale tickets for hot concerts and events
- Access to the luxurious Amex Lounge at select venues
- Enhanced cardholder experience with exclusive privileges
The Amex Cobalt goes beyond being just a credit card, offering a range of bonus perks that cater to your entertainment and travel needs. Whether you’re looking to secure tickets to sold-out shows or enjoy a premium airport lounge experience, these perks make the Amex Cobalt the ideal choice for those seeking a card that offers more than just rewards.
| Bonus Perks | Details |
|---|---|
| Front Of The Line Presale Tickets | Exclusive access to presale tickets for concerts and events. |
| Amex Lounge Access | Premium airport lounge access at select venues. |
Redemption Flexibility
The Amex Cobalt offers cardholders a range of redemption options, allowing for flexibility in how they use their earned points. While maximizing rewards through travel is recommended for the best redemption value, there are other options available. Cardholders can transfer their Membership Rewards points to loyalty programs like Aeroplan or British Airways, where they can potentially achieve a higher redemption value. This opens up opportunities to use the points for flights, hotel stays, and more.
In addition to transfers, the Amex Cobalt allows for redemption options like gift cards, statement credits, and shopping at Amazon.ca. These options provide flexibility for cardholders to use their rewards based on their preferences and needs. Whether you want to treat yourself to a shopping spree, offset your monthly statement balance, or book a dream vacation, the Amex Cobalt gives you the flexibility to do so.
It’s important to consider that while these alternate redemption options may provide convenience and value, they may not always offer the same level of value as travel redemptions. When it comes to maximizing the potential of your Amex Cobalt rewards, using them for travel-related expenses tends to yield the highest return on your spending. However, the flexibility to choose how you redeem your points is a valuable feature of the Amex Cobalt card.
To summarize, the Amex Cobalt offers redemption flexibility for cardholders to choose how they use their earned points. While travel redemptions generally provide the highest value, cardholders can also transfer points to loyalty programs, redeem for gift cards, and statement credits, or shop at select retailers. This flexibility allows cardholders to tailor their rewards to their preferences and needs, making the Amex Cobalt a versatile option for maximizing the benefits of your earned points.
| Redemption Options | Advantages |
|---|---|
| Transfers to loyalty programs | Potential for higher redemption value |
| Gift cards | Flexible and convenient |
| Statement credits | Offset monthly balance |
| Shopping at Amazon.ca | Wide range of products available |
Quick Facts
Here are some quick facts about the American Express Cobalt credit card:
- The Amex Cobalt has an annual fee of $155.98.
- The fee is charged monthly at $12.99, making it more manageable for cardholders.
- Cardholders can earn Membership Rewards points anywhere American Express is accepted.
Earning Membership Rewards with the Amex Cobalt is easy due to its varied purchase categories. Cardholders can earn points on eligible purchases at restaurants, grocery stores, streaming subscriptions, ride shares, transit, gas, and more. This broad range of categories caters to different lifestyles and spending habits.
The Amex Cobalt provides a range of benefits and perks to its cardholders, including superior earn rate, consumer insurance coverage, superb travel coverage, and access to American Express benefits. It offers flexibility in redemption options, with travel redemptions providing the best value. Although the annual fee is higher than some other high-end rewards cards, the monthly payment schedule makes it more manageable for cardholders.
| Quick Facts | Amex Cobalt |
|---|---|
| Annual Fee | $155.98 |
| Monthly Fee | $12.99 |
| Earning Membership Rewards | Varied purchase categories |
| Redemption Options | Ticketmaster tickets, gift cards, statement credits, travel |
Earning Membership Rewards
The Amex Cobalt credit card provides cardholders with a variety of ways to earn Membership Rewards points. By strategically using the card for eligible purchases, you can maximize your rewards and enjoy the benefits of this highly praised credit card in Canada.
Varied Purchase Categories
One of the key features of the Amex Cobalt is its diverse range of purchase categories that cater to different lifestyles. When you use your Cobalt card, you can earn Membership Rewards points on eligible purchases at restaurants, grocery stores, streaming subscriptions, ride shares, transit, gas, and much more. This wide variety of categories ensures that you can earn rewards on everyday expenses and make the most out of your spending.
Maximizing Rewards
To maximize your rewards potential, it’s important to strategically use your Amex Cobalt for purchases in the categories that offer the highest earn rate. For example, if you frequently dine out or spend a significant amount on groceries, utilizing your Cobalt card for these purchases can earn you a substantial amount of Membership Rewards points. By understanding the earn rate and focusing on the categories that align with your spending habits, you can accumulate rewards quickly.
Furthermore, the Amex Cobalt also offers bonus perks like Front Of The Line presale tickets and access to the Amex Lounge. These additional benefits enhance your rewards experience and provide you with unique opportunities and exclusive access to events and experiences.
Redeeming Membership Rewards for the Best Value
As an Amex Cobalt cardholder, you have the flexibility to redeem your hard-earned Membership Rewards points for various options. While you have the choice to redeem for Ticketmaster tickets, gift cards, or statement credits, the best redemption value is achieved by using your points towards travel experiences.
One of the most rewarding options is to transfer your points 1:1 with Aeroplan, allowing you to maximize the value of your rewards. With Aeroplan, you can use your points to book flights with Air Canada and its partner airlines, unlocking incredible travel opportunities. Whether you’re dreaming of a tropical getaway or a European adventure, transferring your points to Aeroplan offers exceptional value and the chance to experience unforgettable journeys.
Another attractive option is utilizing the Fixed Points Travel Program. This program allows you to book flights at a fixed amount of points, regardless of the cash value. By redeeming through this program, you can stretch your Membership Rewards even further and enjoy significant savings on your travel expenses.
Additionally, the Amex Cobalt gives you the opportunity to transfer your points to hotel programs like Hilton Honors or Marriott Bonvoy. This opens up a world of luxurious accommodations and enhanced travel experiences, where you can indulge in the comfort and perks offered by these renowned hotel brands. By amplifying your points’ value through hotel transfers, you can elevate your stays and create unforgettable memories.
| Redemption Option | Benefits |
|---|---|
| Aeroplan Transfers | – 1:1 points transfer ratio – Extensive flight options with Air Canada and partner airlines |
| Fixed Points Travel Program | – Fixed amount of points for flights, regardless of cash value – Significant savings on travel expenses |
| Hotel Program Transfers | – Enjoy luxurious accommodations – Access to exclusive perks and benefits |
Rewards Potential
With the Amex Cobalt, your rewards potential is significant. By spending approximately $2,000 per month ($24,000 a year) using your card, you can potentially earn $1,080 in rewards. This translates to a return on spending of 4.5%. However, it’s important to note that the actual rewards may vary depending on the redemption option you choose.
To maximize your rewards, it is recommended to use the Amex Cobalt for travel redemptions. By transferring your Membership Rewards points to Aeroplan or British Airways, you can achieve a higher redemption value. Alternatively, you can utilize the Fixed Points Travel Program or transfer to hotel programs like Hilton Honors or Marriott Bonvoy.
Keep in mind that the rewards potential of the Amex Cobalt surpasses other travel rewards cards in Canada. Its superior earning potential and better redemption value make it a smart choice for those seeking to maximize their rewards while enjoying the benefits of a premium credit card.
Comparative Rewards Potential
| Credit Card | Annual Spending | Rewards Potential | Return on Spending |
|---|---|---|---|
| Amex Cobalt | $24,000 | $1,080 | 4.5% |
| BMO Eclipse Visa Infinite Card | $24,000 | $720 | 3% |
| Rogers World Elite Mastercard | $24,000 | $480 | 2% |
As shown in the table above, the Amex Cobalt outperforms its competitors in terms of rewards potential and return on spending. While the BMO Eclipse Visa Infinite Card and the Rogers World Elite Mastercard offer lower rewards in comparison, the Amex Cobalt stands out with its ability to provide higher rewards for your spending.
Comparison with Competitors
When it comes to comparing the American Express Cobalt with other travel rewards cards in Canada, it quickly becomes evident that the Cobalt stands out as a smart choice. With its superior earn rate and flexible redemption options, it outshines competitors like the BMO Eclipse Visa Infinite Card and the Rogers World Elite Mastercard.
Let’s take a closer look at the earning potential of these cards to understand why the Amex Cobalt is the better option. While the BMO Eclipse Visa Infinite Card offers a competitive earn rate in select categories, it falls short compared to the Cobalt’s earn rate on a wider range of everyday spending. Similarly, the Rogers World Elite Mastercard offers decent cash back rewards, but it lacks the diverse earning potential of the Cobalt.
Furthermore, the Cobalt provides additional bonus perks like access to exclusive Front Of The Line presale tickets and the Amex Lounge. These benefits enhance the overall experience for cardholders, giving them VIP privileges and access to a world of entertainment.
| Card | Earn Rate | Redemption Options | Bonus Perks |
|---|---|---|---|
| American Express Cobalt | Superior earn rate on various categories | Flexible redemption options including travel | Front Of The Line presale tickets, Amex Lounge access |
| BMO Eclipse Visa Infinite Card | Competitive earn rate in select categories | Limited redemption options | No additional bonus perks |
| Rogers World Elite Mastercard | Cash back rewards | Limited redemption options | No additional bonus perks |
As you can see from the comparison table, the American Express Cobalt offers a superior overall package, combining a higher earn rate, flexible redemption options, and enticing bonus perks. It’s the perfect travel rewards card for individuals who want to maximize their earning potential and enjoy exclusive benefits.
Lounge Access and Competitors
The American Express Cobalt may not offer free airport lounge access like some of its competitors, but it more than makes up for it with its impressive features and benefits. While lounge access can be a desirable perk for frequent travelers, the Cobalt card shines in other areas that make it a top choice for Canadian cardholders.
Competitors with Lounge Access
There are credit cards in the market, such as the Amex Platinum and Scotiabank Gold American Express Card, that do provide complimentary airport lounge access. These cards cater to individuals who prioritize lounge access as a primary benefit. However, it’s important to note that lounge access is not the only consideration when choosing a credit card for travel. The Amex Cobalt stands out by offering excellent travel insurance coverage, a superior earn rate, and flexible redemption options, making it a well-rounded choice for those seeking a comprehensive travel credit card.
Features and Benefits
While the Cobalt card may lack complimentary lounge access, it offers numerous features and benefits that enhance the overall travel experience. Cardholders receive valuable consumer insurance coverage, including protection for mobile devices and rental car theft and damage. Additionally, the card provides superb travel coverage, ensuring peace of mind with emergency medical coverage, travel accident insurance, and protection against flight and baggage delays.
The Amex Cobalt also grants cardholders access to various American Express benefits, such as Front Of The Line presale tickets and exclusive access to Amex lounges at select venues. These bonus perks enhance the overall value of the card, allowing cardholders to enjoy unique experiences and benefits beyond lounge access.
In conclusion, while the Amex Cobalt may not offer free airport lounge access, it compensates with its impressive features and benefits. Cardholders can enjoy comprehensive consumer insurance coverage, superb travel coverage, and access to valuable American Express benefits. When considering a travel credit card, it’s important to weigh all aspects and determine the best fit for one’s individual needs and preferences.
Conclusion
After careful analysis, it is evident that the Amex Cobalt is the epitome of a top-notch travel credit card in Canada. With its superior earn rate, flexible redemption options, and enticing bonus perks, it outshines its competitors in the market. Whether you’re a frequent traveler or an occasional explorer, this card offers exceptional value and benefits.
The Amex Cobalt’s earn rate specifically designed for restaurants and groceries sets it apart as the best choice for individuals who spend heavily in these categories. Moreover, the card’s travel coverage, including emergency medical coverage and travel accident insurance, ensures peace of mind during your journeys.
In addition to its impressive rewards program, the Amex Cobalt also offers exclusive American Express benefits like Front Of The Line presale tickets and access to Amex lounges. While it may not provide free airport lounge access, its exceptional travel insurance, earning potential, and overall value compensate for this omission.
When it comes to finding the best travel credit card in Canada, the Amex Cobalt undeniably emerges as the champion. Its unparalleled features and benefits, along with its ability to maximize rewards through travel, make it a top contender in the market. So, if you’re eager to embark on exciting adventures while enjoying exceptional rewards and flexibility, the Amex Cobalt should be your go-to travel credit card.