6 Reasons to Apply for the American Express Cobalt Card

The American Express Cobalt Card ranks as the best Canadian credit card for everyday spending. This lifestyle-oriented card is one that every Canadian should have in their wallet for a multitude of reasons.

With outstanding earning rate multipliers, a low cost, and plenty of top notch transfer partners, it’s no wonder that the Cobalt Card has established itself as a top contender in the Canadian market since its debut in 2017.

If you’ve yet to sign up, let’s look at six reasons why the American Express Cobalt Card should be the next credit card in your portfolio.

1. Earn 5x Points on Eats and Drinks

The American Express Cobalt Card offers an outstanding 5x Membership Rewards (MR) points for every dollar spent at restaurants, bars, cafés, food delivery services, and even grocery stores in Canada.

At our valuation of 2.2 cents per point, this works out to an unbelievable 11% back per dollar spent at these specific locations. No other Canadian credit card with flexible points currencies has this kind of earn rate, and it’s very satisfying to get 5x points on daily essentials like groceries and dining out. 

You’ll earn this 5x multiplier on up to $30,000 spent per year, so if you can max it out, that’s a whopping 150,000 MR points in your account.

What’s more, the 5x rate can even be earned when you buy gift cards at grocery stores. This opens the door to effectively earn 5x the points on a whole host of expenses, which is only limited to the gift cards you can find.

In addition to this generous 5x earn rate, you’ll earn 3x MR points per dollar spent on a plethora of streaming…