Rewards Calculator Algorithm
You can either estimate rewards by inputting your spending habits manually or creating secure bank connections through our trusted financial partner mx.com and letting Finly analyze your spending in the past year.
Finly factors in all the reward limits and fine prints of every single credit card.
Your Spending
Modify your spending numbers and click update to get the most accurate reward estimates.
$2,000
Restaurant, Fast Food & Coffee Shop
$
Grocery
$
Recurring Purchases (Bills, Subscriptions, Rent via Chexy)
$
Gas
$
Transportation
$
Entertainment (Movies, Concerts, etc.)
$
Foreign Purchases (Non $CAD)
$
Travel (Flights, Hotels, etc.)
$
Pharmacy
$
Online Shopping
$
Home Improvement (Renovation, Furniture)
$
Purchases at Canadian Tire, Sport Check, Lquipeur, Atmosphere, Party City, SportsRousseau, HockeyExperts, LentrepduHockey
$
Other Purchases Not Specified
$
Card Details
Based on $2,000 spending
First Year Value
$1,255.2
$940.2 in years after
Annual Rewards
$1,096
American Express Membership Rewards
First Year Bonus
$315
American Express Membership Rewards
Annual Fee
$155.8
First Year Value
$1,255.2
$940.2 in years after
Interest Rates
Cash Advance: 21.99%*
Purchase: 21.99%*
Annual Fee
$155.8
Annual Income
Personal: N/A
Household: N/A
Credit Score
Good
Welcome Bonus
Earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in purchases on your Card in the first Year
Card Type
Category: Points
Loyalty Program: American Express Membership Rewards
Our Rating
5/5
Institution
American Express
Rewards†
- 5x points per $1 spent on eligible eats and drinks in Canada, including groceries and food delivery (up to 12,500 points per month)
- 3x points per $1 spent on eligible streaming subscriptions in Canada
- 2x points per $1 spent on eligible gas, transit & ride share in Canada
- 1x point per $1 spent on all other purchases
American Express Cobalt® Card Points Calculator
Based on $2,000 spending
Rewards Ranking
Rewards Breakdown
Food and drinks, Groceries
33,255 points
Amex eligible Streaming Subscriptions
1,440 points
Rental Car & Taxi, Gas
4,694 points
All other purchases
12,801 points
Annual Fee
- $155.8
Net Annual Rewards
52,190 points
Valued at $940.2 (after fees)
Rewards Summary
Net Annual Rewards
52,190 points
Valued at $940.2 (after fees)
First Year Card Bonus
15,000 points
Valued at $315
First Year Card Value
67,190 points
Valued at $1,255.2
Point Redemptions
Redemptions Chart
Transfer to Airline Partners
$1,255.2
Fixed Point Travel Program
$959.56
Transfer to Hotel Partners
$623.61
Statement Credits
$516.1
Gift Cards
$358.21
Amazon
$314.53
Merchandise
$267.5
Insurance & Benefits†
Insurance
Coverage
Emergency Out of province Medical
15 daysFlight Delay
$500Baggage Delay
$500Hotel Burglary Insurance
$500Lost or Stolen Baggage
$500Travel Accident
$250,000Car Rental Damage & Theft
yesMobile Device Insurance
$1,000Purchase Protection
90 daysExtended Warranty
Up to 1 year
Benefits
Details
Amex Experiences™
Access Front Of The Line® Amex Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with Amex Experiences™Travel Credit
Book two or more consecutive nights at participating properties through The Hotel Collection with American Express Travel to receive a $100 credit for amenities or a complimentary room upgrade, if available.
Pros & Cons
Pros
- Points can be transferred to Air Canada Aeroplan® at a 1:1 ratio, making this card a solid Aeroplan® points earner as an alternative to Aeroplan® branded credit cards
- Generous welcome bonus of up to 15,000 points
- 4+ different ways of redeeming your points for great value
- 10 different types of insurance, including travel
- Often referred to as the Best Credit Card in Canada
Cons
- Less acceptance of American Express at different merchants across Canada
- Not all types of travel insurance are covered, especially trip cancellation and interruption insurance
American Express Cobalt® Card Review
The Rewards
How You Earn Rewards
- 5 points per $1 on eligible restaurant and grocery purchases up to 12,500 points monthly
- 3 points per $1 on eligible streaming subscriptions in Canada
- 2 points per $1 on eligible gas, transit & ride share in Canada
- 1 point per $1 on all other purchases
Welcome Bonus
How You Redeem Rewards
Transfer MR points to other airlines
The Fixed Points Travel Program
Transfer MR points to hotel programs
Redeem MR points for any purchase
Redeem MR points for Gift Cards, Amazon and Merchandise
Benefits of the American Express Cobalt Credit Card
1. Best Rewards Program in Canada
2. Insurance Coverage
3. Amex Offers and Benefits
4. Access to Fantastic customer service
Downsides of the American Express Cobalt Credit Card
1. Lower Acceptance at Merchants Across Canada
2. High Annual Fee
3. Limit on the Grocery and Food category
American Express Cobalt Comparison to some reward cards
American Express Cobalt® Card | American Express® Green Card | Scotiabank Gold American Express® Card | American Express Gold Rewards Card® | |
---|---|---|---|---|
Welcome Bonus | Up to 15,000 points | Up to 10,000 points ($210 value) | Up to 45,000 Scene+ points ($450 value) | Up to 60,000 points |
Earn Rates |
|
|
|
|
Insurance Included | 10 types
| 2 types
| 13 types
| 11 types
|
Perks | 2 perks
| 2 perks
| 4 perks
| 8 perks
|
Annual Fee | $155.8 | $0 | $120 | $250 |
Income Requirements | N/A | N/A | $12,000 personal or $12,000 household | N/A |
Apply Now | Apply Now | Apply Now | Apply Now | Apply Now |
How to Apply for the Cobalt American Express Card
- Click on the "Apply now" button on the American Express website.
- Indicate whether you are a new or returning American Express customer. If you’re an existing customer, sign in with your account; otherwise, proceed as a new applicant.
- Review the card's terms and conditions, then click "Agree and continue."
- Enter your personal information such as your name, contact details, and address.
- Provide your financial information, including your income, employment status, and any other required details.
- Upload any supporting documentation, if necessary.
- Review your application carefully, then submit it by clicking "Submit Application."