American Express Cobalt® Credit Card review
In your first year as a new Cobalt Cardmember, you can earn 2,500 Membership Rewards® points for each monthly billing period in which you spend $500 in net purchases on your Card.
• Access Front Of The Line® Presale & Reserved Tickets to some of your favourite concerts and theatre performances and special offers and events curated for Cardmembers with American Express® Experiences.
American Express Cobalt® Card Income Requirements
Many American Express credit cards have income range requirement to be eligible for the card however the Amex Cobalt Card doesn’t have a specific income requirement which mean that you could be approved for this credit card if you meet the requirements below:
Credit score of 670+
You must be the age of majority.
Canadian resident with a Canadian credit file.
All insurance coverage is subject to the terms and conditions of the respective master policies. Certain limitations, exclusions and restrictions apply. Please read your Certificates of Insurance carefully.
,TM: Used by Amex Bank of Canada under license from American Express.
It opens the door to memorable experiences we think you'll love!
The Hotel Collection from American Express
American Express Cobalt® cardmembers will receive access to the following benefits at over 600 participating hotels and resorts in over 30 countries worldwide, when booking a minimum of two consecutive nights online with American Express Travel using their Basic American Express® Card
Free Additional Cards
Earn more rewards by adding a supplementary cardholder at no additional cost
Amex Cobalt’s Travel Coverage
Whether you’re backpacking overseas or shopping around the corner, your American Express Cobalt Card comes with travel & shopping related benefits that can keep you covered.
Amex Cobalt Purchase Coverage
The American Express Cobalt® Card started out as a credit card designed for millennials and young professionals. Today, it’s one of the most flexible and versatile credit cards out there. In fact, it’s now commonly used by people from all walks of life because of the lucrative benefits.
One reason the American Express Cobalt® Card is so popular is because of the quick rewards that come with it. Points can be earned on everyday purchases which is what makes the earnings accumulate so rapidly. On food and drinks, such as grocery, restaurant, food delivery, bar and cafe purchases, cardholders earn five points per dollar spent.
On transit and travel, cardholders earn two points per dollar spent. These rewards are not limited to vacation only, cardholders will earn points when they spend on public transit, taxis and Ubers too. All other purchases earn one point per dollar spent. As you can see, no matter what your lifestyle is, you’ll quickly rack up points!
Points can be redeemed to cover the cost of flights and accommodation with 1,000 points being equivalent to $10. Flights don’t have any blackout dates and you can choose any airline you’d like. In addition, the points can be used to cover fees and taxes. If you don’t have an upcoming trip, you can also spend your points on events through Ticketmaster at a rate of 2,000 points to $20. As you probably noticed, the rate of return is the same when you spend on travel and events which is fantastic! For less bang for your buck, you can also use your points for gift cards or merchandise purchases.
Cardholders benefit from travel insurance as well. The insurance covers things like travel accidents, car rental insurance, medical emergencies, flight interruption or delay among others. Last but not least, cardholders gain access to American Express Invites which are limited offer, exclusive events.
All of these benefits sound amazing but there’s a cost for all the wonderful benefits. There’s a monthly fee of $10, which works out to be $120 per year. The monthly payment makes it easy for most to manage. Also, you need to make between $60,000 and $80,000 per year and have decent credit. The only disadvantage is the cap rate on the bonus points is 30,000. Another downside to this bonus is the points can’t be redeemed in a lump sum. This means there is a delay between when you earn the points and when you can redeem them.
That being said, the American Express Cobalt® Card is still an excellent option for those who travel a lot and make lots of eligible purchases.
If everything about this card sounds good to you, sign up today and receive an extra 2,500 points each month you spend $500 or more, an achievable spending rate for most! You can earn up to 30,000 Membership Rewards® points.