New welcome bonus of 50,000 points for the American Express Cobalt card + $120 cash back

Without a doubt, one of the most popular credit cards in Canada is the American Express CobaltTM Card. This unique card lets you earn valuable reward points and offers an amazing 5x points on grocery, restaurant and food delivery purchases.

As of today, there’s a new welcome bonus offer of 50,000 points (worth at least $500) if you apply for this card. You have the ultimate flexibility in redeeming Amex reward points against purchases (similar to cash back) or convert points to hotel or airline programs.

Plus, there are some other positive changes to the Amex Cobalt card as of August 16, 2021:

  • The ability to transfer points to airline partners (like Aeroplan)
  • New earning rate of 3x points on streaming services (like Netflix)
  • Mobile device insurance up to $1,000 in coverage

For those of you that may not have the card yet, now is the time to apply for it via the Great Canadian Rebates (GCR) cash back website. That’s because GCR is offering a cash back bonus of $120 if you’re approved for the American Express CobaltTM Card! The GCR cash back rate used to be $40 so $120 is the highest offer we’ve seen ever for this card!

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