Sell Amex Cobalt Points: The MR Select Conversion Guide
The Amex Cobalt Card earns Membership Rewards Select—not regular MR points. This matters when selling. Learn how to convert your Cobalt points to cash through Aeroplan, current market rates, and whether the $12.99/month fee still makes sense for you.
Important: Cobalt Points Are Different
The Amex Cobalt earns Membership Rewards Select points—not regular Membership Rewards. MR Select has limited transfer partners and cannot be sold directly. You must first transfer to Aeroplan (1:1 ratio, instant) before we can purchase them.
Good news: After transferring to Aeroplan, your points sell at the same rates as regular Aeroplan points. The extra step takes 5 minutes.
MR vs. MR Select: What Cobalt Cardholders Need to Know
MRMembership Rewards (Regular)
Cards: Platinum, Gold, Business Platinum/Gold
- Transfer to 10+ airline/hotel partners
- Redeem for statement credits
- Use for Fixed Points Travel
- Can be sold directly via broker
SMembership Rewards Select (Cobalt)
Cards: Cobalt, SimplyCash Preferred
- Transfer to Aeroplan (1:1)
- Transfer to Marriott Bonvoy (1:1.2)
- Limited other partners
- Sell via Aeroplan conversion
Bottom line for sellers: Whether you have MR or MR Select, the end result is the same—your points become Aeroplan points that we purchase. Cobalt just requires you to do the 1:1 transfer yourself before contacting us.
Is the Amex Cobalt Worth $155.88/Year?
The Cobalt Card costs $12.99/month ($155.88/year) and offers 5x points on dining and groceries—Canada's highest earn rate in these categories. But is it worth keeping, or should you cash out and cancel?
Cobalt Earning Categories
Dining & Food Delivery
Restaurants, UberEats, DoorDash, etc.
5x
Groceries
Supermarkets, grocery stores
5x
Streaming Services
Netflix, Spotify, Disney+, etc.
3x
Transit & Gas
Public transit, rideshare, fuel
2x
Everything Else
All other purchases
1x
The Math: When Cobalt Pays Off
Assume you spend $600/month on groceries + dining (5x category):
- • Monthly points earned: 600 × 5 = 3,000 MR Select
- • Plus 2,500 monthly bonus (when spending $500+) = 5,500 total
- • Annual total: 66,000 MR Select points
- • Cash value when sold: 66,000 × $0.012 = $792
Annual fee: $155.88 → Net value: $636 profit
The verdict: If you're spending $500+/month in 5x categories, Cobalt delivers outstanding value—even when selling points for cash. But if your food spending is under $300/month, you may not recover the annual fee through point earnings.
How to Sell Cobalt Points: Step-by-Step Conversion
Since Cobalt earns MR Select, you need to convert to Aeroplan before selling. This process takes about 10 minutes total. See our full process guide.
Check Your MR Select Balance
Log into americanexpress.com/canada and navigate to Membership Rewards. Note your total MR Select points available for transfer.
Request a Quote from Us
Contact Mega Miles Broker with your point balance. We'll provide a cash quote based on current Aeroplan rates within 24 hours.
Transfer MR Select to Aeroplan
In your Amex account, select "Transfer Points" → Aeroplan. Enter your own Aeroplan account number and transfer amount. Transfers are instant (1:1 ratio).
Complete the Sale via Aeroplan Family Sharing
Once points are in your Aeroplan account, you'll use Aeroplan's Family Sharing feature to transfer points to our designated account. We'll walk you through this step.
Receive Your Cash
After we confirm receipt of the Aeroplan points, payment is sent via Interac e-Transfer within 24 hours. Done!
Why the Extra Step?
MR Select's limited transfer options mean we can't receive points directly from Amex. By going through Aeroplan (which has Family Sharing), both you and we can easily transfer points. The 1:1 conversion means you don't lose any value—it's just a routing mechanism.
When Should You Sell Your Cobalt Points?
You're cancelling the Cobalt card
Maybe you're switching to a no-fee card, or your spending patterns have changed. Transfer your MR Select to Aeroplan and sell before closing the account.
You've accumulated a large balance
If you've been earning 5,000+ points monthly for a year or more, you may have 50,000-100,000 points sitting idle. That's $500-$1,200 in cash you could use today.
You don't have specific travel plans
MR Select's best use is transferring to Aeroplan for flights. If you're not planning to fly on Air Canada or Star Alliance, cash provides more flexibility.
You prefer guaranteed value
Aeroplan's dynamic pricing means redemption values vary. Selling locks in 1.0-1.4¢ per point in cash, regardless of future program changes.
Keep Earning, Sell Periodically
Many Cobalt cardholders treat points like a savings account: earn monthly, sell quarterly or annually. This approach keeps the card for its 5x earning power while regularly converting to cash. Our minimum is 25,000 points (~$275+ cash).
What Are Your Cobalt Points Worth?
After transferring to Aeroplan, Cobalt points sell at standard Aeroplan rates:
25,000 points (minimum)
$275 - $350
~4-5 months of typical earning
50,000 points
$550 - $700
~8-10 months of heavy 5x spending
100,000 points
$1,100 - $1,400
~18-20 months of earning
200,000 points
$2,400 - $2,800
Multi-year accumulation
Effective cash back rate: When you earn 5x on groceries and sell at $0.012/point, you're getting 6% cash back on grocery spending—far better than any pure cash back card in Canada.
Amex Cobalt Points FAQ
Have more questions? Check our comprehensive FAQ page for answers about all loyalty programs.