American Express Cobalt card is a rewards program that has been gaining popularity in recent years. It offers an extensive list of benefits and perks, including 5x points on eligible food purchases, 2x points on gas and travel purchases, and 1x points on all other eligible purchases. But is this card really worth it? Let’s take a closer look at what the Cobalt card has to offer.
Rewards Points
The Cobalt card earns you points with every purchase you make. You can then redeem these points for cash back, travel rewards, merchandise, gift cards, and more. In addition to earning points on everyday purchases like gas and groceries, you also get bonus points when you use your card for dining out or entertainment purchases. And best of all, there are no limits or expiration dates on your accumulated points!
Benefits & Perks
In addition to the rewards program, the Cobalt card also comes with some great benefits and perks. For example, you get complimentary access to selected airport lounges around the world as well as discounts on hotels and car rentals when you book through American Express Travel. Plus, if you use your card outside of Canada or the US more than once each year (including cruises), you’ll be eligible for free medical insurance coverage while travelling.
Fees & Interest Rates
The Cobalt card does come with an annual fee of $120 which may be off-putting for some people. However, this fee is offset by the generous rewards program so it might still be worth considering depending on how much money you spend each month/year. As far as interest rates go, the Cobalt Card charges a variable rate starting at 19.99%, so it’s important to make sure that your payments are made in full each month to avoid any extra charges.
Conclusion:
Overall, the American Express Cobalt Card is a great option if you’re looking for a rewards program that offers plenty of benefits and perks without charging an arm and a leg in fees and interest rates. With its generous rewards program that earns 5x points on eligible food purchases as well as numerous other benefits such as complimentary access to selected airport lounges around the world and discounts on hotels and car rentals when booking through American Express Travel – it’s definitely worth considering if you’re in the market for a new reward credit card!
