 that is something you're interested in please visit for more if you are only interested in great card videos there will be links in the description box below today I'll talk about a few upcoming changes coming to the American Express Cobalt great card so if you go online you're going to see that you know the internet is go crazy and there are lots of you know reviews and lots of articles about American Express great card so for example I'm just going to you know show you something very quickly and for example here you can see that incredible upcoming changes and then here you can say that you know a look at changes to the best great card and then here you will see that Canada's best great card is getting even better so all of these are just you know all of the links are the reviews you're looking at are actually affiliated you know websites or videos promoting American Express Cobalt great card so you're not going to get any honest and true opinion from of the changes from these reviews so that's why I'm going to give you a totally unhonest and unbashed opinion today and I'll go over with some of the changes and what you need to know so the first thing I would like to clarify that regardless of what you know these sites are saying that this is the best great card or Canada's best great card so I'd like to mention that Cobalt card is not the best great card and I'm going to go over with you why so I'll just you know say this aside for now and this is the envelope I received from American Express and here they're just like you know I'm going through the changes of the Cobalt great card and I'm not going to go over in these brochures or literature because I have summarized everything in here and that's what you know I'll go over with you one by one so let's look at the first thing so the changes are coming to August 16 2021 and before August 16 2020 the Cobalt card has a $10 monthly fee which is you know $120 annually and the reverse points you get from the Cobalt card is MR select what it means that you know it doesn't convert to airlines miles directly so you have to actually kind of convert it to hotel points for example Marriott Bon Voy and then you can convert it to airline points if you do that then the way it works that you know from each point you'd get half airline points for example half airplane or half life miles point but that's before the changes which is up to until August 16 2021 now after the changes this is what is going to happen so the annual fee is going to increase to 12.99 per month which translates into $155.88 cents per year and the points are changing to MR points what it means that you know you will be able to change or transfer directly to airline points as a transfer partner and the ratio is going to be 1 to 1 and they're just you know giving a new category you'll get three times points for those who do not use this it really doesn't matter and then another addition coming is the mobile device insurance so if you you know buy your phone with the American Express Cobalt card and if you meet the conditions then you're you know secured or you're insured up for up to $1,000 so these are the changes coming here but you're paying a hefty annual fee of $155.88 cents per year which is a lot and the question you might be asking that you know whether you should be keeping American Express Cobalt card after August 16 or not and that's what I'm going to show you today so I have this card and after like you know doing some simple calculations this is my take that I'm going is still going to you know keep this great card although this is not the best great card but in terms of you know reward points this is a very good great card so for example if you use American Express Cobalt great card at groceries or restaurants or to buy anything where you know to eat our food purchases then you get five points per dollar spent and because you know these points will convert to airlines direct after August 16 so technically you're getting like you know five airplane points or five you know let's say aviose or life my points per dollar and I do not know any other parade cards would give you like you know five points or five airline points per dollar spent so if you think of the Reor's card in terms of like you know points accumulation then definitely this is a very good card or it could be even the best card so here is my simple math why I'm going to keep this card even after the anulph increase so for example you will see that you know airplane or life miles their selling points from time to time usually their point cost is three cents per share and life miles is for 3.3 cents and to keep things simple I'm just going to assume that you know three cents per point and if you spend a $500 month on grocery just grocery I'm going to assume that you know probably everyone is going to spend a lot more but if you only spend three hundred three five hundred dollars per month then you're going to get that twenty five hundred dollar I'm sorry twenty five hundred points and let's say you are using those the card for one year then twenty five hundred times twelve then you have now thirty thousand points now these thirty thousand points if you had to buy from airplane or life miles or anyone else then if we assume that you know it's three cents then you're going to save $900 now time to time airplane and life miles both the sale points at a discount rate so they give like you know let's say a hundred percent bonus or 50 percent bonus and if you even if you assume that you know you're getting 100% bonus then to purchase 30,000 points your spending is going to be a $450 Canadian so you can see that you know from hundred eighty eight dollars sorry hundred fifty five dollars and eighty eight cents annual fee definitely you're on the plus side side if you are you know buying points directly and if you are like you know even if you're buying points at a discounted rate but if you use for these points for business class business class flight purposes then definitely you can get more out of these points so for example I have used airplane and life miles and other points for many business class flights and you can actually see all my business class flight reviews by going to my business class playlist which is going to be I'll provide you a link in the description box below and there were times when I was able to extract per point seven cents and it is possible to extract even more from points if you was you know if you use points carefully and if you just like you know get a good flight so definitely for these 30,000 points if you are spending $500 per month on grocery then it can come into even $2,100 value in terms of dollar value if you're using them to redeem for business class flight purposes and this actually there's no actually limit here how much you're going to get so for some flights you might get like you know five cents per point or for some flights you can get seven cents or even ten cents but I have had seven cents which gave $2,100 for $500 you know grocery spent per month which I would say a very good deal given the fact that you know you're getting so much more back than what you're spending to pay an old fee for $155.88 so for that reason I'm not going to cancel this card and I'm going to keep this card and now I'm going to just you know tell you why this is not a good credit card for benefits because this is American Express has a pattern of not giving lots of benefits they're very cheap in that way and do not pay attention or do not mind you know the websites online which are saying that this is the best credit card because all these they're affiliated and they're promoting American Express and you know they just wanted to sign up and use their links to make more money or to get bonus points from your sign up so before you do anything just you know make sure you're aware of everything and I do not provide any affiliated links I do not take money from anyone so you're going to get totally honest and unbashed opinion from this review so the reason American Express is not a good credit card for benefits because you're paying $155 annual fee for this card which is going to be after August 16 and even you are not going to get trip cancellation insurance you're not going to get any concierge services and you're not going to get any 0% foreign transaction fee and these are the few things or these are one of the main top things you'd look for in a travel credit card in order for that card to be considered the best travel credit card which American Express do not provide and you can get this from a you know $120 visa infinite card lots of cards on the Canadian market so definitely American Express cobalt is not the best credit card for your words but if you are talking about like you know points value or generating points then definitely it's a very good credit card if not the best credit card and as I mentioned before that I never heard any credit card giving you five points or five error miles or five airline points per dollar spent if you know anything like that even not from Canada from any other parts in the world just leave a comment in the comment section so I know so for that reason for this reasons you know I'm still keeping the American Express cobalt credit card but I do not use this credit card when I go you know when I purchase travel or when I go outside because you know it doesn't have trip cancellation and it doesn't have concierge and it doesn't have 0% foreign transaction fee so just be careful about using this card for travel purchases because you know if you are in if you are in trouble or flight gets cancelled or you know hotel gets cancelled or something happened then you're gonna get your money back so you have to be careful about that and you're gonna get any concierge and you're gonna be paying 2.5% foreign transaction fee if you use this in outside Canada so that's all I wanted to talk about today thank you for watching this video there'll be more videos coming up so I'll see you shortly thank you