Amex Cobalt Points Value Canada 2026: What Are They Really Worth?
The Amex Cobalt Card is one of Canada's most popular rewards cards, earning 5x points on groceries and dining. But how much are those MR Select points actually worth? Here's the complete breakdown for 2026.
Quick Answer: Cobalt Point Values
Transfer to Aeroplan
1.5-2.5¢
per point (optimal)
Sell for Cash
1.1-1.55¢
per point (guaranteed)
Fixed Points Travel
0.7-1.0¢
per point (avoid)
Understanding Amex Cobalt Points (MR Select)
First, the important distinction: Amex Cobalt earns "Membership Rewards Select" (MR Select) points, not regular Membership Rewards points. This matters because MR Select has limited transfer partners compared to the full MR program.
MR Select Transfer Partners (Cobalt)
Transfer Ratio: 1:1
Speed: Instant
Transfer Ratio: 1:1.2
Speed: 24-48 hours
Key Limitation:
Unlike Platinum/Gold cardholders who can transfer to British Airways, Cathay Pacific, Emirates, and others, Cobalt holders are limited to Aeroplan and Marriott. This is the main trade-off for Cobalt's lower annual fee and high earning rate.
The good news? For most Canadian travelers, Aeroplan is the most valuable partner anyway. You're not missing much with MR Select if your primary goal is Air Canada or Star Alliance flights.
Cobalt Point Values by Redemption Method
Transfer to Aeroplan
Best Value: 1.5-2.5+ cppTransfer your Cobalt points to Aeroplan at 1:1, then book flights through Air Canada or Star Alliance partners. Business and First Class redemptions deliver the highest value.
| Redemption Type | Typical Value | Example |
|---|---|---|
| Domestic Economy | 1.0-1.5 cpp | Toronto-Vancouver for 15K pts |
| US Economy | 1.2-1.6 cpp | Toronto-NYC for 12.5K pts |
| International Business | 1.8-2.5 cpp | Toronto-London for 70K pts |
| Partner First Class | 2.5-4.0 cpp | ANA First Class to Tokyo |
Pro tip: Business class to Europe on Air Canada or Lufthansa consistently delivers 2+ cpp value, making Aeroplan transfers the best use for most Cobalt points.
Sell for Cash
Guaranteed: 1.1-1.55 cppTransfer your Cobalt MR Select points to Aeroplan (1:1), then sell the Aeroplan points for cash. This provides guaranteed, immediate value.
Cash Value Examples
50,000 pts
$550-775
100,000 pts
$1,100-1,550
200,000 pts
$2,200-3,100
When selling beats transferring: No travel plans, cancelling your card, need cash now, or when economy flights are the only option (lower cpp value for transfers).
Fixed Points Travel (Avoid)
Poor Value: 0.7-1.0 cppBooking directly through Amex's travel portal using points provides mediocre value. You're essentially getting 0.7-1.0 cents per point.
Why to avoid: A $500 flight costs 50,000+ points through Fixed Points Travel, but those same points transferred to Aeroplan could book a $750-1,000+ business class seat. Always transfer instead.
Transfer to Marriott Bonvoy
Situational: 0.7-1.2 cppCobalt points transfer to Marriott at 1:1.2 (bonus 20%). This sounds good, but Marriott points are worth less individually (~0.7 cpp), so the net value is similar to other redemptions.
When it makes sense: If you have a specific Marriott redemption planned (like a 5th night free on a 5-night stay) or need hotel points more than airline miles.
Cobalt Earning Power: The Math
The Amex Cobalt shines because of its category multipliers. Here's how the points stack up:
Cobalt Earning Rates (2026)
Groceries & Dining
Restaurants, food delivery, supermarkets
Streaming & Transit
Netflix, Spotify, Uber, transit passes
Travel
Hotels, flights, car rentals
Everything Else
All other purchases
Annual Earning Example
Average Canadian spending $1,000/month on groceries and dining:
Monthly 5x spend
$1,000 × 5 = 5,000 points
Annual points
5,000 × 12 = 60,000 points
If sold for cash:
$660-930 CAD
4-6x the $156 annual fee
If transferred to Aeroplan:
$900-1,500 value
At 1.5-2.5 cpp redemption
When Should You Sell Cobalt Points?
Transferring to Aeroplan for premium cabin travel usually provides the highest value. But selling for cash makes sense in these situations:
Cancelling Your Cobalt Card
Points expire 30-90 days after closing. Sell before you lose them.
No Travel Plans
If you don't have specific trips planned, cash provides flexibility.
Only Economy Flights Available
Economy redemptions often deliver only 1-1.3 cpp. Cash may be better.
Emergency Cash Need
Points sitting unused don't help. Liquidate when you need the money.
Points Have Been Sitting Idle
If you haven't redeemed in 2+ years, you probably won't. Cash them out.
How to Sell Amex Cobalt Points
Because Cobalt earns MR Select (not regular MR), there's one extra step:
Transfer Cobalt MR Select → Aeroplan
Log into amex.com/canada, go to Membership Rewards, transfer 1:1 to Aeroplan (instant)
Request Quote from Mega Miles
Submit your Aeroplan balance for a personalized cash offer
Transfer via Family Sharing
We guide you through Aeroplan's Family Sharing transfer process
Receive Payment
Interac e-Transfer or cheque within 24-48 hours
Note: The extra Aeroplan transfer step takes 2 minutes and doesn't reduce your value. You get the same cash rate as regular Amex MR sellers.
Frequently Asked Questions
How much are Amex Cobalt points worth in cents?
Amex Cobalt points (MR Select) are worth approximately 1.0-2.0 cents each when redeemed optimally through Aeroplan transfers. When selling for cash, they're worth approximately 1.1-1.55 cents per point in Canadian dollars.
Are Cobalt points the same as regular Amex Membership Rewards?
No. Cobalt earns MR Select points, which have limited transfer partners (only Aeroplan and Marriott Bonvoy). Regular MR points from Platinum/Gold cards can transfer to 7+ airline and hotel partners. However, for most Canadians, Aeroplan is the most valuable partner anyway.
Can I sell Amex Cobalt points?
Yes, but with an extra step. Cobalt MR Select points must first be transferred to Aeroplan (1:1 ratio), then sold through Aeroplan's Family Sharing system. The end result is the same cash value as selling regular MR points.
What's the best way to redeem Cobalt points?
Transfer to Aeroplan for business class flights (1.5-2.5+ cpp value), or sell for guaranteed cash at 1.1-1.55 cpp. Avoid using points directly through Fixed Points Travel (0.7-1.0 cpp) or gift cards (poor value).
Do Amex Cobalt points expire?
Points don't expire as long as your account remains open and in good standing. However, if you close your Cobalt card, you typically have 30-90 days to use or transfer your points before they expire.
Is the Amex Cobalt worth it for the points alone?
At 5x on groceries and dining, Cobalt is one of Canada's best earning cards. If you spend $500/month on these categories, you earn 30,000 points/year worth $330-465 when sold. The $156/year fee is easily justified.