Who is Amex Cobalt best for?
American Express Cobalt: the basics
American Express Cobalt
Welcome offer: Earn 1,250 points for every month you spend €750, up to a maximum of 15,000 points.
Map data
| Interest rates | 21.99% on purchases and cash advances, 25.99% to 29.99% penalty APR on purchases and cash advances (rates vary) |
| Income required | None specified |
| Credit score | 725 or higher |
| Point value | 1 Amex Membership Rewards point = $0.01 when redeemed on the Flexible Points Travel Program, $0.015 average on the Fixed Points Travel Program, and up to $0.02 when transferring points through airlines |
We’ll get into the reward and benefit details in a moment, but take a moment to review the basics of this card.
| Earn rates | 5 points per $1 spent on groceries and restaurants 3 points per $1 spent on streaming services 2 points per $1 spent on gas, transit and rideshare services 1 point per $1 spent on all other purchases |
| Insurance included | Extended warranty Purchase protection Mobile device Travel accident Emergency medical assistance Flight delay Luggage delay and lost or stolen luggage Hotel burglary Theft and damage to rental cars |
| Special benefits and features | American Express offers Amex Hotel Collection2 4/7 customer service Amex front of the line Plan It installment payment plan |
| Minimum credit limit | Any amount |
| Additional card costs | $0 |
Pros and cons of the Amex Cobalt
It always helps to consider the pros and cons of a credit card before applying.
Pros:
- High reward rates. You’ll earn higher rewards on popular spending categories like gas, groceries, restaurants, streaming services and more.
- The annual amount is charged monthly. Instead of paying a large annual fee of $155.88, Amex breaks the fee into monthly payments of $15.99.
- No income requirement. Amex does not require any specific income to qualify for the card, so your approval chances are good if you meet the card’s credit score requirement.
- Valuable reward points. Amex membership points are some of the most valuable out there, and you can even transfer them 1:1 to Aeroplan.
Disadvantages:
- Lower merchant acceptance: Amex charges some of the highest transaction processing fees, so some small businesses or select merchants (like Costco and Loblaws) may not take your card.
- Lower redemption value for selected options: Avoid using your reward points for merchandise, Amazon.caor gift vouchers, as they lose significant value.
Amex Cobalt Rewards, Explained
The American Express Cobalt is perhaps one of Amex’s most popular rewards credit cards because it offers fantastic earning rates in popular categories.
- You will earn 5 points per $1 spent on food and drinks. Amex recognizes these as restaurants, groceries, coffee shops and food delivery. Please note that you will only earn the increased rate on the first €2,500 you spend in this category each month.
- You will earn 3 points per $1 spent on streaming services from selected providers. There is no limit on this income. You also get 2 points per $1 spent on gas and transitincluding subways, streetcars, taxis, limousines and ride-sharing services.
- Earn all other purchases 1 point per $1 spent.
When you’re ready to cash in your Amex rewards, take advantage of how to use it flexible or fixed points to book travel or transfer to another airline’s loyalty program. If traveling isn’t your thing, you can redeem points for merchandise, charities, gift cards and… Amazon.ca– but the points lose significant value with these non-travel options.
Amex Cobalt Benefits and Benefits
American Express is known for its top-notch benefits and fantastic insurance coverage. The Amex Cobalt does not disappoint.
American Express benefits
Your Cobalt loads personalized discount options via Amex Offers. Simply select the discounts you want and make a qualifying purchase to receive a percentage or fixed amount back on your card. There are dining, travel, entertainment and retail options that are updated regularly.
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As an Amex cardholder, you also get access to exclusive events and reservations at hotels or restaurants through Amex Experiences. In many cases, you can score presale or reserved tickets to popular concerts and experiences.
Extensive travel insurance coverage
The Amex Cobalt includes travel insurance coverage for cardholders. If you travel outside your province (within Canada or internationally), you get emergency medical coverage up to $5,000 per person per trip (for travelers 64 years or younger, up to 15 days). It also offers flight delay and baggage delay insurance, hotel burglary protection, and lost or stolen luggage insurance.
The hotel collection
We’ve already mentioned that the Amex Cobalt is a great travel credit card, so don’t forget about this feature when booking your next trip. The Hotel Collection features stylish hotels with unique personalities. Your card not only gives you access to these special hotels, but you also earn a $100 hotel credit and a room upgrade at check-in if you stay at least two nights.
What cardholders think
Now that you understand the card’s rewards and features, find out what real cardholders have to say about the Cobalt.
When we checked Reddit threads, we found that many users appreciated the card’s fast earning rate.
As this person noted, Whether the Amex Cobalt is worth it for you depends entirely on your personal spending habits. If you don’t spend much in the higher income categories, a free card with a better base earning rate may be a better idea.
As for what third-party reviewers generally think of American Express, here’s how the publisher ranks:
- JD Power: Amex received the highest customer satisfaction score of the 14 issuers rated.
- Better Business Agency: 1/5 based on only 3 customer reviews
- Trustpilot: 1.4/5 based on over 4,800 customer reviews, mainly regarding poor customer service and available contact methods
Frequently asked questions
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