3 Things You Will Love and Hate About Amex Cobalt Card
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American Express Cobalt Credit Card
American Express launched a new credit card recently. I will talk about 3 things you will love and hate about this credit card. Let’s start with 3 things you will love.
Rewards Structure: The first thing you will love is its rewards on some specific things such as grocery and restaurants, which will earn 5 rewards points. By far this is the highest return (5%) in Canada if you redeem these points for travel purposes.
Annual Fee Structure: Instead of paying $120 annually, you will be paying $10 per month. This is another first as well and it’s easier on your wallet to pay each month rather than a year at a time.
SPG Points: The capability to convert rewards points to Starwood Reward points (1:0.05). What this means is that for certain categories you will earn 2.5 SPG points, which is hard to find anywhere else.
Now let’s talk about 3 things you will hate.
Missing Travel Insurances: Although the Cobalt card provides some travel insurances, it does not provide very important travel insurances such as Trip Cancellation and Trip Interruption, which are a must for any traveller.
No Airline Points Transfer: The Cobalt card does not offer any direct airline transfer partners such as Avios or Aeroplan. Yes, you can transfer to many airlines via SPG, but for many that’s not an option.
Not Accepted Everywhere: This is a common problem with all Amex cards, as they are not widely accepted everywhere like Visa and MasterCard.
Before selecting any credit cards, always do your research and make an educated decision based on your lifestyle and needs. If you would like to watch this article in a video, please visit here:
