Amex Cobalt Card: New Offer of 52,000 MR Points via CreditKarma

The American Express Cobalt Card is widely considered one of the most powerful credit cards in Canada, largely thanks to its 5x earning rate on food and drinks. 

Historically, the welcome bonus on this card has hovered in the range of 30,000 MR points, with occasional periods of an elevated bonus of 50,000 MR points. 

Until December 9, 2022, we’re seeing an all-time-high welcome bonus of 52,000 MR points on the Cobalt Card, but only when you apply through a specific channel that may be somewhat surprising at first glance: CreditKarma.ca.

Record-High Welcome Bonus of Up to 52,000 MR Points

The standard welcome bonus on the American Express Cobalt Card has historically been 30,000 MR points, distributed over 12 monthly periods upon spending $500 each month.

The current offer via CreditKarma adds a further bonus on top of that baseline: 22,000 MR points upon spending $5,000 in the first three months, bringing the total to 52,000 MR points. 

To access this offer, you’ll need to be a CreditKarma user. Thankfully, CreditKarma is free to sign up for, and it’s very much worth signing up for anyway as one of the best services in Canada for monitoring your credit health.

Upon logging into CreditKarma, you’ll see the above banner being shown just under your credit score dashboard if you have a credit profile that makes you suitable for the Cobalt Card. Clicking the “Apply now” button leads you to an American Express landing page with the details of the offer.

You’ll then be asked to enter the RSVP code as indicated on CreditKarma to start the application.

This is the highest welcome bonus we’ve ever seen on the Cobalt Card. There’s been offers of up to 50,000 MR points in the past, but 52,000 MR points sets a new all-time high. 

To optimize this offer from a spending perspective, you’d be looking at spending $5,000 in the first three months while ensuring you reach a minimum of $500 each month (e.g., $1,667 per month, or $4,000 in the first month followed by $500 in subsequent months). Then, for the remaining nine months of the year, the offer would be equivalent to before: a monthly minimum spend of $500.

This offer specifies an end date of December 9, 2022, so make sure to apply by then if you’re interested in taking advantage. 

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