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American Express

(Perkopolis) Amex Cobalt signup bonus of 40k points (2,500pts with $500 spend per month + 10X food & drinks)

  • Last Updated:
  • Sep 27th, 2023 10:18 am
Newbie
Feb 11, 2019
49 posts
72 upvotes
GCR has $100 cashback on the Cobalt card.
I don't have perkopolis so I used that instead
Deal Addict
Oct 21, 2009
2756 posts
1630 upvotes
Ontario
fZzzzz wrote: GCR has $100 cashback on the Cobalt card.
I don't have perkopolis so I used that instead
It is a trade off of getting $100 and 10,000 points less from GCR.
Currently happy customer with Koodo, Roger and Virgin Mobile.
Jr. Member
Aug 27, 2011
156 posts
33 upvotes
VANCOUVER
progator wrote: This is the greated card as it's to me. I know many people know it as a credit card for grocery (5% points), but actually it's much more than that by

- First, buy GC at Sobeys/Safeway/Metro, so 5% points back extend to almost all your spending. Two examples, I once bought about $2,000 HomeDepot GC; the other is to buy prepaid Mastercard then used at Costco, the fee is about 2%, so you still ahve 3% for all Costco purchase.
- Second, as long as you travel by air, convert the AMEX points to Aeroplan points (1:1), and Aeroplan points can easily give you 1.3-1.4 cents/point whne book through Air Canada, sometimes can up to 2 cents/points. Therefore, the return of this card can get 7-8% easily and up to 10%.

Another fact, when AMEX launched this card at the beginning, there is no cap on grocery category. I know there are people got millions of AMEX points.
AMEX is cracking down hard on GC purchases now. The churning group that I am in, several people are reporting receiving from AMEX suspending ALL of their AMEX accounts for unintended card usage.
Deal Addict
User avatar
Jan 24, 2007
4053 posts
1127 upvotes
North York
Incase I missed it, is it first year free?
Sr. Member
Oct 3, 2019
507 posts
481 upvotes
f3riedrice wrote: AMEX is cracking down hard on GC purchases now. The churning group that I am in, several people are reporting receiving from AMEX suspending ALL of their AMEX accounts for unintended card usage.
Yeah, some friends had received the "warning" email indicated purchasing GC is unintended usage. I myself still plan to use it as usual until the "time" comes...
Penalty Box
Jul 6, 2018
1044 posts
1990 upvotes
How exactly is AMEX supposed to know if you're buying a gift card? Like if you buy a $100 gas card along with your $200 grocery purchase? Can they really tell?
Deal Addict
Oct 8, 2015
4280 posts
4638 upvotes
Province of Bring Ca…
f3riedrice wrote: AMEX is cracking down hard on GC purchases now. The churning group that I am in, several people are reporting receiving from AMEX suspending ALL of their AMEX accounts for unintended card usage.
How much did they buy and were most of them doing PayPower reload?
Jr. Member
Aug 27, 2011
156 posts
33 upvotes
VANCOUVER
naticom wrote: How much did they buy and were most of them doing PayPower reload?
I believe it was up to the maximum allowance for groceries. But I also saw from an individual who added on a chip bag so it wasn't a flat $500, he also got dinged by AMEX.
Deal Addict
Oct 8, 2015
4280 posts
4638 upvotes
Province of Bring Ca…
f3riedrice wrote: I believe it was up to the maximum allowance for groceries. But I also saw from an individual who added on a chip bag so it wasn't a flat $500, he also got dinged by AMEX.
If you top up reloadable VISA/MC it won’t be flat $500. On the other hand, you can always choose to reload a weird number like 497 or 383 but I don’t think that’s how AMEX looks at that.

In fact, it’s already super abnormal to have like even one $500+ transaction at Safeway or Save on Foods or even smaller grocers. They’re not Costco so the only possibility that a customer spends that much is on GCs

I’m not saying AMEX should ban purchases on GCs, but if you’re going greedy by making a lot of manufactured spendings on reloading VISA/MC and instantly transfer the money out, bank won’t be happy to see that happen. People doing this are benefiting themselves that finally results to backfire all of us
Jr. Member
Dec 24, 2008
163 posts
11 upvotes
f3riedrice wrote: AMEX is cracking down hard on GC purchases now. The churning group that I am in, several people are reporting receiving from AMEX suspending ALL of their AMEX accounts for unintended card usage.
It sounds like I may have been late to the party but whats the benefit of buying a GC vs just shopping directly?
Deal Addict
User avatar
Sep 22, 2016
3273 posts
5843 upvotes
Toronto
naticom wrote: How much did they buy and were most of them doing PayPower reload?
Sample AMEX Cobalt Statement:

2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/27 SOBEYS RICHMOND HILL $506.95
2023/01/27 SOBEYS RICHMOND HILL $506.95
2023/02/05 METRO 71 TORONTO. $507.85
2023/02/05 METRO 71 TORONTO. $507.85
Deal Addict
Oct 8, 2015
4280 posts
4638 upvotes
Province of Bring Ca…
Ok the Jan 15 ones are just too manufactured…

Not surprised someone would get caught for this
LiverpoolBlueJays wrote: Sample AMEX Cobalt Statement:

2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/27 SOBEYS RICHMOND HILL $506.95
2023/01/27 SOBEYS RICHMOND HILL $506.95
2023/02/05 METRO 71 TORONTO. $507.85
2023/02/05 METRO 71 TORONTO. $507.85
Member
Sep 5, 2007
390 posts
265 upvotes
BC
LiverpoolBlueJays wrote: Sample AMEX Cobalt Statement:

2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/15 SOBEYS RICHMOND HILL $506.95
2023/01/27 SOBEYS RICHMOND HILL $506.95
2023/01/27 SOBEYS RICHMOND HILL $506.95
2023/02/05 METRO 71 TORONTO. $507.85
2023/02/05 METRO 71 TORONTO. $507.85
They can only blame themselves for not even putting minimal effort when they purchased those GCs. Idiotic behaviors really.
Last edited by crazysword on Mar 12th, 2023 12:13 am, edited 1 time in total.
Deal Fanatic
Aug 13, 2007
5058 posts
1279 upvotes
GTA
Is there a way I can switch from Bonvoy to this card or to Plat? Don't want so many credit lines open but not using the benefits of the Bonvoy very much.
Member
Aug 7, 2022
266 posts
156 upvotes
Are there any issues if you buy re-loadable mastercard/visa using amex? Is vanilla prepaid a safer option?
Amex Cobalt - Everyday Purchases
CIBC Dividend Cashback - Good for lost items(not stolen)
HSBC +Rewards - Has price protection
Scotiabank Amex - No Fx, Good WB | Triangle - No spend WB
Member
User avatar
Jul 15, 2005
322 posts
261 upvotes
Scarborough
Deal can also be found on Venngo.
Member
Nov 9, 2015
260 posts
424 upvotes
Toronto, ON
poopooplatter wrote: How exactly is AMEX supposed to know if you're buying a gift card? Like if you buy a $100 gas card along with your $200 grocery purchase? Can they really tell?
Not sure they care. They’re just happy you’re using their card.
Deal Guru
User avatar
Apr 26, 2004
13165 posts
3738 upvotes
Mississauga
OmgDrake wrote: It sounds like I may have been late to the party but whats the benefit of buying a GC vs just shopping directly?
The Cobalt gives 5x points for grocery stores but only 1x for most other stores. So if you buy a $100 Old Navy GC at Sobey's, you get 500 points versus just 100 points if you used your Cobalt actually at Old Navy. Some people are taking it too far though and buying hundreds in gift cards every week and AMEX is taking note.
guy369 wrote: Not sure they care. They’re just happy you’re using their card.
If you buy a GC every now and then, no one cares but if you are constantly buying GCs at supermarkets in high amounts, they will very much care to the extent of cancelling your card and stripping you of all your points.

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