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[American Express] AMEX Cobalt 40,000 points + $100 GCR

  • Last Updated:
  • Apr 2nd, 2020 5:56 am
[OP]
Jr. Member
Dec 5, 2011
135 posts
133 upvotes
YVR

[American Express] AMEX Cobalt 40,000 points + $100 GCR

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Retailer:
American Express
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First post, so go easy on me.

**As of now there isn’t an end date. Amex is raising it as a trial period and may end it at any time once they review the results.**
- thanks to @projector for the data point

The GCR had a $90 rebate until Jan 31st, then went down to $50 and now it's up to $100. It's been a wild week apparently.


The GCR site says 30,000 points but when you click through to the AMEX site, it displays 40,000 points.
*I used Edge browser

Here are the details:

Up to 30,000 Bonus Points:
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 purchases on your Card. This could add up to 30,000 points in a year
+
10,000 Welcome Bonus Points
When you apply using the link on this page you can earn a Welcome Bonus of 10,000 Membership Rewards points when you spend a total of $3,000 in purchases in your first 3 months of Cardmembership
10,000 Welcome Bonus Points offer is subject to change at any time.

EARN 5X THE POINTS ON EATS & DRINKS
From grocery shopping to dining out, earn 5 points for every $1 in Card purchases at eligible restaurants, bars, cafés, and even food delivery in Canada

EARN 2X THE POINTS ON TRAVEL & TRANSIT
It can be a cab across town, the morning bus, or a weekend hotel stay. Earn 2 points for every $1 spent on eligible transit & gas purchases in Canada and eligible travel purchases

EARN 1X THE POINTS ON EVERYTHING ELSE
Concerts? Sneakers? Movie tickets? Whatever you’re into, earn 1 point for every $1 in Card purchases on everything else

You get 2500 points/month for $500 spending requirement. Spend that $500 on groceries and get x5 multiplier = 2500, + 2500 from the spending requirement = 5000. 5000 x 12 = 60,000 points

Get 10,000 bonus when you spend $3000 in the first 3 months. If you spend that extra $500/month (excluding the $500 you need for the 2500 point bonus mentioned above) on groceries at the 5x multiplier, you get $1000 x 5 = 5,000 + 2,500 bonus points in the first 3 months. = 77,500 points per year.

**New members only**

This offer is only available to new American Express Cobalt Cardmembers. For current or former American Express Cobalt Cardmembers, we may approve your application, but you will not be eligible for the Membership Rewards points offers available in the first 12 months of Card membership.
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Last edited by islander59 on Feb 12th, 2020 1:50 pm, edited 4 times in total.
271 replies
Sr. Member
Apr 22, 2012
835 posts
157 upvotes
TORONTO
Does Amex charge $10 per month on this card? If yes, I can cancel the card in a month, then you make $90 on GCR and 3000 pts after spend $500 in first month. Am I right? Thanks.
[OP]
Jr. Member
Dec 5, 2011
135 posts
133 upvotes
YVR
Technically yes, I suppose you could. But it's an easy 40,000 points for basically $20 + spending $500/month ($1000 in the first 3 months). There are few data points about churning this card, so it would be best to actually use the card for the first year to get the bonus points.
Last edited by islander59 on Feb 7th, 2020 2:00 pm, edited 1 time in total.
Deal Addict
User avatar
Aug 19, 2018
1145 posts
1235 upvotes
islander59 wrote: Technically yes, I suppose you could. But it's an easy 40,000 points for basically $20 + spending $500/month ($1500 in the first 3 months). There are few data points about churning this card, so it would be best to actually use the card for the first year to get the bonus points.
Isn't it $1000/month for three month to get 40k?
[OP]
Jr. Member
Dec 5, 2011
135 posts
133 upvotes
YVR
Cucumference wrote: Isn't it $1000/month for three month to get 40k?
Yes, sorry that was a typo. I will edit it. Thanks for the heads up.
Newbie
Aug 13, 2019
54 posts
142 upvotes
Best offer ever for this card. I have had this card for 8 months now and have nothing but great things to say about it. Most people who say "it isn't accepted everywhere" don't know that the tap doesn't work everywhere, but the chip DOES! It works about at 75% of food places, which is where I use it most. I still recommend using this card with the Rogers WE.
Newbie
Jan 10, 2016
25 posts
52 upvotes
Can the 40,000 points be transferred to Aeroplan or other airline reward points?
Deal Addict
User avatar
Aug 19, 2018
1145 posts
1235 upvotes
99mazdaspeed wrote: Can the 40,000 points be transferred to Aeroplan or other airline reward points?
no. Marriott Bonvoy only. Cobalt point is not the same as regular Amex MR point.

Marriott Bonvoy can go to aeroplan though.
Last edited by Cucumference on Feb 7th, 2020 2:48 pm, edited 1 time in total.
Member
Apr 8, 2009
225 posts
198 upvotes
99mazdaspeed wrote: Can the 40,000 points be transferred to Aeroplan or other airline reward points?
5:6 MR-S to Bonvoy
3:1 Bonvoy to AP with 5000 bonus every 60,000 transferred (so 60k:25k)
Thus, 50k MR-S = 25k AP, compared to the 50k regular MR = 50k AP
Newbie
Oct 14, 2005
13 posts
18 upvotes
It seems only rewards on food/groceries is higher than Rogers WE, so how much food and groceries would you have to buy in a year for it to be worth it considering the $120 yearly fee?
Newbie
Aug 19, 2011
96 posts
83 upvotes
Vancouver
yelnik wrote: It seems only rewards on food/groceries is higher than Rogers WE, so how much food and groceries would you have to buy in a year for it to be worth it considering the $120 yearly fee?
The difference between earn rates on 5x categories between Rogers WE and Cobalt is 3.25 cents per dollar assuming you use MR for statement credit against travel. To break even you need to spend $120 (annual fee) / 0.0325 (earn rate difference) = $3692 per year. Anything above that is net positive for the Cobalt.
Newbie
Oct 14, 2005
13 posts
18 upvotes
kycka1 wrote: The difference between earn rates on 5x categories between Rogers WE and Cobalt is 3.25 cents per dollar assuming you use MR for statement credit against travel. To break even you need to spend $120 (annual fee) / 0.0325 (earn rate difference) = $3692 per year. Anything above that is net positive for the Cobalt.
Thanks, so maybe not worth it considering I'm generally only buying food for myself
Newbie
Aug 19, 2011
96 posts
83 upvotes
Vancouver
yelnik wrote: Thanks, so maybe not worth it considering I'm generally only buying food for myself
Well, this math apples beyond the first year. With this offer you're getting a much higher return - only $20 annual fee for a ~$400 bonus on top of the regular earn rate
Newbie
Feb 20, 2011
62 posts
20 upvotes
Toronto
yelnik wrote: Thanks, so maybe not worth it considering I'm generally only buying food for myself
If you don't have a lot of expenses, any CC with annual fee is not worth that much.
But for a big family, Cobalt is great as you can have supplementary card for free up to 9 cards.

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