2017 American Express Cobalt (Canada)

    Hide Wikipost
Old Sep 27, 17, 2:12 am   -   Wikipost
Please read: This is a community-maintained wiki post containing the most important information from this thread. You may edit the Wiki once you have been on FT for 90 days and have made 90 posts.
 
Last edit by: alc
Wiki Link
American Express Cobalt Credit Card

GCR $50 Rebate --> https://www.greatcanadianrebates.ca/...s/Amex-Cobalt/

Detail copy from GCR link above:
  • In your first year as a new Cobalt Cardmember, you can earn 2,500 Membership Rewards® points for each monthly billing period in which you spend $500 in net purchases on your Card. This could add up to 30,000 points in a year.
  • Limited Time Offer: Apply by 01/30/18 and you can earn a Welcome Bonus of 10,000 Membership Rewards® points when you spend a total of $3,000 in net purchases in your first 3 months
  • Earn 5 points for every $1 spent on Card purchases at eligible restaurants, bars, grocery stores and food delivery in Canada
  • Earn 2 points for every $1 spent on eligible transit & gas purchases in Canada and eligible travel purchases. That’s 2X the points on purchases that get you from point A to B
  • Earn 1 point for every $1 in Card purchases everywhere else. We won’t tell you where to spend, we’ll just reward you on your Card purchases
  • Get advance access to tickets to some of the hottest concerts, shows and events through Front Of The Line® by American Express Invites® and advance screenings to blockbuster movies. Plus, more great perks.
  • American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details, current product information and Terms and Conditions, click the Apply now link.
  • $10 per month of Cardmembership ($120 annually)
Print Wikipost

Reply

Old Sep 27, 17, 11:21 am
  #136  
 
Join Date: Apr 2011
Location: Quebec and Ontario, Canada
Programs: AC*E50, SPG/Marriott Plat
Posts: 1,690
Originally Posted by nli007 View Post
My biggest concern right now is whether or not I will earn 5x MR for restaurant/bar/grocery purchases OUTSIDE of Canada.

Hoping someone will test out the card soon haha
probably, but you will also have to pay the 2.5% forex, so nut sure it is better than the Visa Marriott...
Yul_voyager is offline  
Reply With Quote
Old Sep 27, 17, 11:22 am
  #137  
 
Join Date: Jan 2013
Location: YYZ
Posts: 252
Originally Posted by BenSenise View Post
the percentage return is only accurate when you get a ticket at the maximum price allowed. If you get a ticket that had a base fare of let's say $200, then your return is 6.7%

BUT, do you have to pay taxes & fees on these tickets or do the points cover the whole cost? in the latter case the return could potentially be even higher than 10%. i've never used fixed price redemptions of this kind before, like RBC Rewards and Air Miles to name a couple.
True if you don't maximize the base fare. I've never redeemed via the AMEX fixed mileage program but taxes are not covered but you are however allowed to convert points at a really bad rate i think it was like at a value of $0.01 per point to cover.

Taking signup bonuses out of the equation - if i were to spend $50K and assuming all purchases are in the 5X category i can get 62.5K pts via SPG AMEX (after airline transfers) or the same via AMEX Plat vs the Cobalt now which is enough for a RT anywhere in the world in J - granted base fares are <$4.5K. It's an interesting proposition - now actually spending $50K on Groceries, Dining Out, Gas may not be easy but could make sense for some.
sxc234 is offline  
Reply With Quote
Old Sep 27, 17, 11:23 am
  #138  
 
Join Date: Apr 2011
Location: Quebec and Ontario, Canada
Programs: AC*E50, SPG/Marriott Plat
Posts: 1,690
Originally Posted by BenSenise View Post
the percentage return is only accurate when you get a ticket at the maximum price allowed. If you get a ticket that had a base fare of let's say $200, then your return is 6.7%

BUT, do you have to pay taxes & fees on these tickets or do the points cover the whole cost? in the latter case the return could potentially be even higher than 10%. i've never used fixed price redemptions of this kind before, like RBC Rewards and Air Miles to name a couple.
You have to pay taxes, fees and career surcharges (like YQ). You can book a flight which is more expensive than the maximum in which case you pay the difference (so the ticket is not free at all but at least you get the maximum credit from the points)
Yul_voyager is offline  
Reply With Quote
Old Sep 27, 17, 11:26 am
  #139  
 
Join Date: Jun 2016
Location: Prince Edward Island
Programs: Aeroplan Black, Hilton Honors Gold, Marriott Gold, Mlife Pearl
Posts: 1,376
Originally Posted by BenSenise View Post
BUT, do you have to pay taxes & fees on these tickets or do the points cover the whole cost? in the latter case the return could potentially be even higher than 10%. i've never used fixed price redemptions of this kind before, like RBC Rewards and Air Miles to name a couple.
The Amex fixed point travel program only covers the base cost. Here are the terms from my biz platinum card:

"You can redeem a fixed number of points to cover the base ticket price of eligible flights up to the applicable maximum base ticket price. The base ticket price (often referred to by airlines as the base fare) excludes taxes, fees and carrier surcharges. You will be charged for these additional costs and any dollar amount that exceeds the applicable maximum base ticket price. "
Low Roller is offline  
Reply With Quote
Old Sep 27, 17, 2:05 pm
  #140  
 
Join Date: Jan 2011
Location: YYJ
Posts: 2,105
Originally Posted by sxc234 View Post
True if you don't maximize the base fare. I've never redeemed via the AMEX fixed mileage program but taxes are not covered but you are however allowed to convert points at a really bad rate i think it was like at a value of $0.01 per point to cover.
Originally Posted by Yul_voyager View Post
You have to pay taxes, fees and career surcharges (like YQ). You can book a flight which is more expensive than the maximum in which case you pay the difference (so the ticket is not free at all but at least you get the maximum credit from the points)
Originally Posted by Low Roller View Post
The Amex fixed point travel program only covers the base cost. Here are the terms from my biz platinum card:

"You can redeem a fixed number of points to cover the base ticket price of eligible flights up to the applicable maximum base ticket price. The base ticket price (often referred to by airlines as the base fare) excludes taxes, fees and carrier surcharges. You will be charged for these additional costs and any dollar amount that exceeds the applicable maximum base ticket price. "
ah, okay. so actually you could max out the benefit, e.g. get a ticket that has a base fare of $325 and pay the $25 plus charges. this would get you the max return that sxc234 stated.

thanks for the additional info Yul_voyager and Low Roller. I'm still on the fence regarding this card. I'm in no rush so we'll see. great info and discussion on this thread. thanks to all.
BenSenise is offline  
Reply With Quote
Old Sep 27, 17, 4:32 pm
  #141  
 
Join Date: Nov 2013
Location: YOW
Programs: AC SE100K, Bonvoy Platinum
Posts: 342
Originally Posted by nli007 View Post
My biggest concern right now is whether or not I will earn 5x MR for restaurant/bar/grocery purchases OUTSIDE of Canada.

Hoping someone will test out the card soon haha
That's mine as well. If the 5x for restaurant and the 2x for Hotels are valid outside Canada and IF the SPG Amex doesn't extend the double SPG points for Marriott/ SPG stays, I think this could replace my SPG Amex. 99% of my spend is on hotels, Uber/Lyft and restaurants. (I use my SPG Amex exclusively for business travel).
martyYOW is offline  
Reply With Quote
Old Sep 27, 17, 5:20 pm
  #142  
 
Join Date: May 2009
Posts: 520
problem for most people here is AMEX only allow 2 CC max, my wife have a 10+ year AMEX simplecash card and a new SPG Busi card, will have to cancel AMEX Simplecash to get Cobalt card approved
ecgz88 is offline  
Reply With Quote
Old Sep 27, 17, 5:59 pm
  #143  
Suspended
 
Join Date: Mar 2017
Programs: AC
Posts: 2,167
Interesting result after applying.

Have a Plat/Gold charge card and had a SPG AMEX (and nothing else). As of now, I don't have any credit card (not charge cards) with AMEX.

I was not instantly approved for this Cobalt card.
longtimeflyin is offline  
Reply With Quote
Old Sep 27, 17, 7:03 pm
  #144  
 
Join Date: Jun 2016
Location: Prince Edward Island
Programs: Aeroplan Black, Hilton Honors Gold, Marriott Gold, Mlife Pearl
Posts: 1,376
Maybe they're only approving millennials
Low Roller is offline  
Reply With Quote
Old Sep 27, 17, 7:08 pm
  #145  
 
Join Date: Jul 2012
Location: Canada
Programs: BA Gold (OWE), Star Alliance Gold, Club Carlson Gold, Hilton Diamond, Starwood Gold,Club Accor Conci
Posts: 2,141
Originally Posted by longtimeflyin View Post
I was not instantly approved for this Cobalt card.
Ring them, I had the same thing, they just wanted to double check it was me that was applying.
reclusive46 is offline  
Reply With Quote
Old Sep 28, 17, 12:39 am
  #146  
 
Join Date: Sep 2007
Posts: 409
Originally Posted by nli007 View Post
My biggest concern right now is whether or not I will earn 5x MR for restaurant/bar/grocery purchases OUTSIDE of Canada.

Hoping someone will test out the card soon haha
Not going to happen. Amex Canada is very clear on that, and in my experience as a cardmember for 18 years now, they mean it.

You can earn Membership Rewards points for eligible consumer purchases at American Express retail merchants as follows: 5 points for every $1 at or for (i) restaurant, quick service restaurant, coffee shop and drinking establishments in Canada, (ii) stand-alone grocery stores in Canada, (iii) delivery of food and groceries in Canada as a primary business; and 2 points for every $1 at or for (i) stand-alone automobile gasoline stations in Canada, (ii) travel services or travel bookings including air, water, rail and road transport, lodging and tour operator sales, (iii) local commuter transportation in Canada including subway, streetcar, taxi, limousine and ride sharing services.
You'll notice that the only category that they do not specifically say "in Canada" is the travel bookings. So you'll get 2 MR points per C$1 for your airplane tickets and hotel, just like the Gold Rewards card; but *not* for the Uber ride you'll take from the airport to the hotel. Nor will you get the 5 points per dollar for any restaurant spend when you are on that trip.

And this is my #1 annoyance with Amex Canada. For being a company that markets itself and its products heavily as being for world travellers, they make truly terrible cards to actually use when travelling abroad.

So I'll use my Gold Card to book my flights and hotels and get the 2/1 bonus, and I'll use my Platinum Card to access the lounges and use the concierge for special reservations along the way... but when it comes to actually paying for things? Amex is at the bottom of my list thanks to the 2.5% Forex fee and the restrictions on bonus points to only being earned IN CANADA.
Vasco is offline  
Reply With Quote
Old Sep 28, 17, 8:20 am
  #147  
 
Join Date: Mar 2007
Location: Toronto, Canada
Programs: SPG Gold
Posts: 4,598
GCR has $50 cashback for AMEX Cobalt card @ https://www.gcr.ca/details/Amex-Cobalt/
jerryhung is offline  
Reply With Quote
Old Sep 28, 17, 9:20 am
  #148  
FlyerTalk Evangelist
 
Join Date: Feb 2002
Location: San Francisco/Tel Aviv/YYZ
Programs: CO 1K-MM
Posts: 10,349
It looks like a pretty decent card, I mean, we spend a lot of $ on food/restaurants so I expect to earn a lot there.

I've got the TD Cashback (3%) for loblaws, but 5/$ @ le metro and longos is good.
entropy is offline  
Reply With Quote
Old Sep 28, 17, 11:08 am
  #149  
 
Join Date: May 2015
Location: YVR, ZRH
Programs: *G
Posts: 5,342
Originally Posted by jerryhung View Post
GCR has $50 cashback for AMEX Cobalt card @ https://www.gcr.ca/details/Amex-Cobalt/
Interesting - does the Amex Cobalt card have a referral bonus? We don't have any personal stories yet since nobody's probably got one yet, but this leads me to think that it does? Do we know?
Smiley90 is offline  
Reply With Quote
Old Sep 28, 17, 12:19 pm
  #150  
 
Join Date: Oct 2012
Posts: 2
So my wife and I both applied for this card. She was approved for $3,500 limit and I was approved for $15,000.

My thinking is we'll both meet the minimum spend required each month and then at year-end (12 month mark), use up her rewards from the card and then cancel her card shortly thereafter.

My card we will keep longer term and use as our primary rewards card. I like many of the features and the 2.5 SPG seems like it could be ridiculously good depending of course on what is done with SPG with Marriott merger.

However, does my strategy outlined above make sense in terms of maxing out the rewards on this card for both the wife and I? We will then use a no annual fee cashback Visa card for merchants that do not accept Amex.
JagStyles is offline  
Reply With Quote

Thread Tools
Search this Thread