Amex Cobalt Card: New Offer for 15,000 Points

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. 

However, the welcome bonus has dropped to its lowest point in years, and comes paired with a relatively hefty monthly minimum spending requirement to boot.

Amex Cobalt Card: New Offer for 15,000 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.

For now, the signup offer available through both public and referral channels is for up to 15,000 MR points, distributed as monthly bonuses of 1,250 points upon spending $750 each month.

In other words, the total welcome bonus is half of what it used to be, and you’ll have to spend an extra $250 each month, or an extra $3,000 over the course of the year, to fully unlock it.

It’s worth noting that the Cobalt Card hasn’t historically been known for juicy welcome bonuses, and is regarded for its prowess as a card to use for many daily expenses instead.

There’s no listed ending date to the current offer. Therefore, if you don’t currently have the Cobalt Card in your wallet, it could be worth holding out for a better offer.

However, it could be a while before we see an elevated bonus again, and since the Cobalt is still one of Canada’s best credit cards for daily spending, it’s still worth considering.

Amex Cobalt Card: Still One of Canada’s Best Credit Cards

Even with the recent changes to the spending cap for category multipliers and the current low welcome bonus, the Cobalt Card remains an excellent choice for ongoing day-to-day spending.

Despite a low signup offer, it’s still one of our top picks for the best beginner credit cards, and one of the best overall credit cards in Canada. 

The standout feature is the ability to earn 5 MR points per dollar spent on eats and drinks, which includes restaurants, bars, cafés, takeout, delivery, and purchases made at the grocery store.

And since the points transfer 1:1 to Aeroplan and British Airways Executive Club, 1:0.75 to Air France KLM Flying Blue, and 1:1.2 to Marriott Bonvoy, amongst others, you shouldn’t have any problems finding…