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The has been one of our favourite cards since its launch 2 years ago.

And for good reason. With high earnings and points, no earning caps, and rewards that are flexible and easy to use, it’s no wonder it’s been our top rated credit card ever since.

However, a change is coming to this card on August 20, 2019.

Amex Cobalt devaluation details

Starting August 20th, there will be a combined cap of $30,000 spent annually on earning 5 points per $1 spent on groceries and dining purchases. After the cap has been reached, you’ll only earn 1 point per $1 spent.

Does it matter?

Not if you’re spending less than $2.5k per month on food.

For most people, this cap won’t be a problem. Because most of us aren’t spending $2,500 per month on food. But for high spenders, there will be a drop in your total rewards.

Alternative cards

Another good card for grocery purchases, if you’re looking, is the .

Or, you can browse through our best grocery credit card rankings here.

American Express Cobalt recap

Don’t have the Amex Cobalt card? Let’s recap why it ranks #1 overall for 2 years in a row.

To start, earn up to 30,000 welcome bonus points. For every month in the first year you spend $500 on the card, you’ll earn 2,500 points.

Up to 5x points

You’ll also earn plenty of points on all of your purchases:

  • 5 points per $1 spent on groceries and dining (and of course, starting August 20, 2019, there will be a $30,000 annual spending cap),
  • 2 points per $1 spent on gas, travel and transit purchases, and
  • 1 point per $1 spent everywhere else.

Fly with points

What can you use your points for? Our guide will give you the full details. But the best ways are to book flights using the Fixed Points Travel Program, where you can get a value of up to:

1.75 cents per point.

Another good way is to redeem your points for any type of travel charged to the card, where each point is worth 1 cent.

You also have the option to transfer your points to Marriott Bonvoy at a 5:6 ratio.

Monthly $10 fee

It’s all for an annual fee of $120 that’s charged out as $10 per month.

For flexible rewards, and plenty of points, American Express has you covered.

Get the full details here:

Back to you

What do you think of the change? Will it change anything for you, or are you going to consider a new card?

Chime in the comments section below.