Even the most diehard homebodies will admit that it feels great to go out sometimes, and have some fun with friends or your significant other.
Going out to dinner, having a drink, and going dancing can be a great way to unwind after a hectic week if you’ve had enough of sitting on the couch.
But all these social outings can really add up, and if you don’t budget carefully they could end up putting a real strain on your credit card balance.
The good news is that there are a few credit cards on the market that could make your social spending a little easier to stomach, most notably the
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The perfect date night companion – American Express Cobalt Card
Why should you consider adding the
It’s perfect for what you might typically spend on during a night out on the town.
Some awesome benefits that come with this card (that you probably can’t live without) include:
- 5 points per $1 spent on eligible groceries and restaurants.
- 3 points per $1 spent on eligible streaming services.
- 2 points per $1 spent on eligible gas, transit, and ride share purchases.
- 1 point per $1 spent on foreign currency purchases.
- 1 point per $1 spent on all other purchases.
- Access to Front of the Line advanced ticket sales and reserved seating.
- Connect directly with Amazon.ca to use your points to pay for purchases.
- Annual fee divided into $12.99 easy-to-swallow monthly payments.
You could easily take advantage of this card to help you earn you serious rewards and save some money in the long run.
Find the perfect party outfit
The first thing that needs to be sorted before going out:
What am I going to wear?
Parties and social gatherings can be intimidating at times, even for the best of us. You know there will be a lot of people and (most likely) lots of photos, so it’s natural to want to look your best.
But you can feel reassured knowing that the Cobalt card will have your back.
Use your points on Amazon.ca
The cool part about having a Cobalt card in your wallet is Amazon.ca’s Shop with Points program using your Membership Rewards. This means that you’re able to link up your Membership Rewards account to Amazon.ca during the enrollment process, and use your points to pay for Amazon purchases.
So you won’t even have to leave your house or dish out any money to get a new button up shirt or party dress.
Plus, American Express will often have limited time exclusive bonus offers for its Cobalt cardmembers when they shop on Amazon.ca – an added bonus.
Capitalize on your “grocery” spending
Another useful hack to get the most points possible for your money spent is to buy gift cards to your favorite retail stores from the grocery store.
These will be categorized as a grocery purchase, allowing you to earn 5 points per dollar spent rather than just 1 point per dollar spent.
This can apply to gift cards for restaurants, clothing stores, liquor stores, and even gift cards to cover those new cosmetics, skin care products, or perfume.
If you purchase a Sephora gift card at your local grocery store for $100, you’d be getting 500 points for that purchase alone.
If you’d spent the same amount directly at Sephora’s, you’d only be getting 100 points for your purchases.
Membership Rewards earned per spending category comparison
| Gift card amount | Points earned – Grocery category | Points earned – Retail category |
|---|---|---|
| $50 | 250 Membership Rewards | 50 Membership Rewards |
| $100 | 500 Membership Rewards | 100 Membership Rewards |
| $150 | 750 Membership Rewards | 150 Membership Rewards |
Eat, drink, and be merry
Spending time with all your loved ones and eating delicious food is really what enjoying a night out on the town is all about.
Whether you’re all about cooking a 20 lbs turkey with all the fixings, prefer to go out to a nice restaurant, or just stay home and order some takeout with your significant other – Amex has you covered with points for days.
Did we mention that this is the highest earn rate possible for this spending category on the Canadian credit card market right now?
And if you’re going out for drinks afterwards? You’ll get points on those purchases as well.
It’s important to note that some Canadian credit cards that offer rewards on restaurant purchases often exclude bar purchases. So, with this card, you’ll know for sure that you’re getting the most points possible for each dollar spent, no matter where your night-out plans might take you.
Don’t drink and drive – save money on transit
Something very important to mention – although food, drink, and family and friends is what it’s all about – if you’re indulging, don’t drink and drive.
It’s never worth it to get behind the wheel when you’ve had a few too many.
Amex gives you a good reason to just take a cab instead – 2 points per dollar spent on travel and transit purchases.
Whatever gets you from point A to point B safely, whether it’s the bus, a cab, a train, the subway…you’ll be getting some extra rewards, and have peace of mind that you’ll make it home in one piece.
Related: Roadside Assistance Comparison: Could Free Be Better Than CAA?
Enjoy a concert or movie
One of my favourite Friday night activities with my family is going to see a movie after a nice supper.
Nothing beats watching a good blockbuster with a big bag of movie theatre popcorn.
Seeing a good band is another fun activity that I love for the weekends where you just don’t want to stay home.
With Front of the Line, you’ll have access to advanced ticket sales, reserved seating, and even advanced screenings to Blockbuster movies.
Flexible point redemption
Now that you’ve earned all these Membership Rewards points with your night out spending, you might be wondering what they can be redeemed for.
As previously mentioned, you can link your Membership Rewards to your Amazon account and use your points to pay for purchases. You can do the same with ticket purchases at Ticketmaster.ca.
You can also redeem your Membership Rewards for:
- gift cards and merchandise through membershiprewards.ca,
- transfer points to Aeroplan,
- flights through the Fixed Points Travel Program, and
- as a statement credit against any purchase made with your card.
The possibilities are pretty endless, and it doesn’t really get any better than that.
Related: How To Maximize The American Express Membership Rewards Program
Other reasons to love the Cobalt card
Aside from all the amazing rewards and cool perks, there’s still a lot to love about this card.
Instead of a large annual fee, Cobalt offers bite-sized $12.99 fees paid monthly instead. If you earn at least 1,299 points per month, that more than covers the fees.
Plus, you’ll also get 10 different kinds of purchase and travel insurance:
American Express Cobalt® Card Please review your insurance certificate for details, exclusions and limitations of your coverage.Extended Warranty 1 year Purchase Protection 90 days Mobile Device $1,000 Travel Accident $250,000 Emergency Medical Term 15 days Flight Delay $500 Baggage Delay $500 Lost or Stolen Baggage $500 Hotel Burglary $500 Rental Car Theft & Damage Yes
And if that wasn’t enough, you’ll also get up to a total of 15,000 welcome points after spending $750 every month for the first year. That can be worth up to $300 in travel when transferred to Aeroplan.
Transfer points to Aeroplan and 7 other travel partners with Canada's #1 credit card.* Transfer points to Aeroplan and 7 other travel partners with Canada's #1 credit card.*
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The bottom line
The
On a typical night out, this card is optimal to earn you the most points possible over any other card on the Canadian credit card market, hands down. Is it any wonder it gets the #1 spot in 4 of our different Best Credit Card rankings?
And with so many redemption options available, you won’t feel trapped with thousands of points and nothing to redeem them for. It’s a win-win all around.
An alternative Visa to the Cobalt card
If you would prefer a Visa, there’s a card for you to consider – the
It too earns plenty of points on purchases:
- 5 points per $1 spent on gas, groceries, restaurants, and transit, and
- 1 point per $1 spent on all other purchases.
When redeemed for travel, BMO Rewards points are worth 0.67 cents each, for a return of up to 3.35%.
And it has 2 unique perks. First, every year on your card’s anniversary, you’ll get a $50 lifestyle credit. This credit gets applied on your first purchase of more than $50.
The other is that you’ll earn 10% bonus rewards when you add an authorized user to your account.
This card has an annual fee of $120 (waived for the first year), and income requirements of either $60,000 personal or $100,000 household.
GC: $150
$150 GeniusCash + Exclusive: Up to 70,000 bonus points + 5x points on gas & groceries.*
Let us know what you think
Do you have the Cobalt card already? What’s your favorite perk that comes with this card?
Let us know your experience in the comments below.
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