The overall best travel rewards credit card in Canada (and in fact a pretty strong cash back card in its own right) just became that much more valuable if you don't have it in your wallet yet. The card is the American Express Cobalt Card and ever since it launched late in 2017 it has been the number one card in Canada. There are several reasons for this but it primarily comes down to the card earning 5x points on eats and drinks (it was one of the first cards to award that many points on purchases) but also providing good redemption value for those 5x points and even the rest of the points the card earns a 2x and 1x. On top of that the card lets you convert points to Marriott Bonvoy which can then in turn be converted to 40+ airline programs including Aeroplan. Really, the card gives you a little bit of everything.
Today, we see American Express reveal the best ever welcome bonus for this card! When you apply for the card between today and May 5 you can earn up to 45,000 Membership Rewards Points. The bonus is broken down as the standard 30,000 points earned in the first year which is 2,500 points per month in each month that you $500 on the card for the first 12 months. But now they've sweetened the deal by offering an additional 15,000 points when spend $3,000 on the card in the first three months of cardmembership! This means by the end of month three you would have 22,500 points (the 15K + 2,500 per month) worth no less than $225 towards any travel or $157.50 towards any non travel purchase made on the card. This doesn't include your spending. Say you spent all $3,000 in those first three months on eats and drinks you would earn 15,000 points just on those purchases since they earn 5x points. So in reality you could have as much as 37,500 points in those short three months!
Rather than charging an annual the card has a monthly of $10 fee which equates to the same $120 per year you see on most cards that compete with the Cobalt Card. You can expect more posts coming from us about this awesome new sign up offer as we'll delve deeper into what you can use those points but for now we just wanted to get this news out to our readers so that you can start racking up those points right away!
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