The concept of the credit card revealed is not just a piece of plastic that wedges itself into the users’ life but helps improve it. What the American Express Cobalt Card does is offer all these. More than just a credit card, there are great bonuses on dining, streaming and travel, among others. 

For the first year spend $750 or 15,000 Membership Rewards points are yours – fantastic for a student! These points can be redeemed on everything from travelling, shopping and can make the spending in your day to day life so much more exciting.

Main features of the American Express Cobalt Card

The American Express Cobalt Card is an offering from one of the most reputable companies in the field of money and finance, the American Express. American Express is also famous for its great service and for providing high standards in terms of security to the holders of credit cards. The Cobalt Card is designed for young employees, young families, people who love to travel and, of course, those who like to eat out. 

This card rewards you for dining, travel, and streaming; thus, you only need this card if you always have something to do every day. The card’s rewards program is also flexible in the structure of points to earn as it enables the consumer to earn points much faster on the most favourite categories.

Understanding the annual fee 

However, when it gets to the annual fee, the American Express Cobalt Card is slightly different from the other cards. This does not require the payment of a single amount at the beginning of the year as most other card services and insurance companies do, but it has a transnational fee of $12.99, totaling $155.88 per year. 

Deciphering credit limits

The credit control policy of American Express involves the assessment of credit score, income and other obligations before arrive at the credit limit that reflects the creditworthiness of the borrower. This way, you are granted a credit limit that you can easily handle depending on your financial status. Another factor is that as one learns to maintain a good credit score, he is also considered for credit limit increases making him have a higher spending limit in the long run.

Advantages of the American Express Cobalt Card

• 5X Points on Dining and Drinks: Get $5 for each dollar that you spend on transactions in all the eligible restaurants and food delivery in Canada.
• 3X Points on Streaming Subscriptions: Get 3 points per dollar for the streaming services you prefer.
• 2X Points on Travel and Transit: From your Uber rides and B, B to your weekend trips and C, C, get double points on all qualified travel costs.
• 1X Points on Everything Else: Other purchases are rewarded at one point for every dollar spent.
• Front Of The Line Access: Partake in the latest presale concerts, theater, shows and performances and obtain the best and the most preferred seats.

Standout advantage

That said, the best thing one can say about the American Express Cobalt Card revolves around the remarkable rewards system. The ability to earn 5X points on everything dining and drinks make it a god send for anyone who loves to dine out, or ordering food.

Addressing potential drawbacks

• Monthly Fee: The $12. 99 monthly fee, which although not too much for anyone who can afford it, is a reoccurring fee that taken over the year is relatively costly.
• Limited Acceptance: It should be noted that this company is not quite popular across the globe compared to Visa or MasterCard, which might sometimes be a downside.
• High-Interest Rates: Its interest rate is slightly higher with a value of 21 percent for the card. Up to 99% on purchases while on cash advances it is up to 99% of the total amount.

Standout disadvantage

The only major drawback of the American Express Cobalt Card is its usage at the merchant establishments is far less than other big credit cards. Although American Express cards are well accepted in the United States with a higher usage pattern among the existing posh urban population and amongst the larger stores and merchants, it is not as popular between the small mercantile stores and businesses and global markets.

Eligibility criteria 

You have to be a Canadian citizen and have a credit file that is based in Canada and must have attained the age of majority in the province/territory where you live. Here it is also crucial that one’s credit score is well maintained and the candidate is a permanent employee of a certain company.

How to apply for the American Express Cobalt Card

To apply for an American Express Cobalt Card is quite easy and one can apply in different ways. Americans Opt for Online application, if you are comfortable with online applications but like personal touch of face-to-face communication with the credit card company the American Express comes with numerous options. 

Via website

Another way may take some time to complete is through the online application form on the American Express Cobalt Card site. The online application procedure is safe, efficient, and enables you to apply for a loan at home. Some of the information that you will be required to give include your name, address as well as the financial information. 

You will be given a step by step procedure on how to use the website and their response time is one minute. This is because there is little time between the point at which you apply for the new card and the time that you can begin to effectively begin to enjoy the perks of having a new card.

Through the mobile application

In addition to the previous methods of the Cobalt Card application, which is possible directly through the American Express mobile application. While using this innovative app, users can easily get through with their application process as they can fill and submit their application online using any of their mobile devices such as a smartphone or tablet.

Also, it offers the functionality to monitor application status in real-time to keep clients aware of the current state. Once granted, you can also operate the account, pay bills, and (especially) get some bonuses and discounts using the application.

Through the store/branch

Since American Express may not have the same conventional branches as many other banks, the consumers can conveniently visit agents or offices affiliated to American Express or the main American Express office for more help in applying for a personal credit card.

Speaking to a representative in this case is the best way to go because the representative will be able to guide you through the process, understand your questions, and make sure that you are submitting all your information in the right manner.