It’s time to get fat on points.
The Cobalt Card is the newest addition to the American Express family and has already attracted many new users. Designed for millennials, this card proves most valuable for individuals who are frequently dining out and using transportation services (Presto, Uber, etc). The Cobalt offers a generous 5 American Express MR (Membership Rewards) points per dollar spent on Eats and Drinks, 2 MR for Travel & Transit and 1 MR for everything else.
Click here to find out more on what qualifies for the bonus categories.
Despite not having its first year’s fee waived (currently the fee is $10/month), the Cobalt card awards consistent spenders with a bonus 2,500 MR for every billing cycle where $500 or more is spent for the first year. These bonus points are immediately added to your account once you hit the $500 threshold and accumulate to a total of 30,000 MR.
The 5 MR per dollar earn rate is currently unrivaled by ANY other card in the market right now, making the Cobalt suitable for everyday use. The only downside to these points is that they are less flexible than the Amex Gold/Platinum MR as they cannot be transferred to American Express’ flight partners. Fortunately, hotel programs are still available for the points transfer and the SPG Starpoints program in particular will yield tremendous value at this earn rate.
Cardholders also get access to Front Of The Line® by American Express Invites®, where cardholders can attend exclusive concerts, dining events, movie viewings, etc. I personally have not used this perk, but do often see invitations coming in from American Express.
Over the dozen or so cards I’ve used, the American Express Cobalt card is great for everyday use if you are collecting SPG Starpoints; 2.5 Starpoints per dollar on food and drink (After a 1:0.5 ratio point transfer) is an absolute steal if you do not have any other minimum spends to meet.
For those who are stockpiling Starpoints for their next vacation, the American Express Cobalt card is a simple no-brainer with its accelerated earn rates and continuous bonuses. As always, if you could support me by applying through my referral link, it would be greatly appreciated!
Here’s a summary of what this card has to offer:
- 5x points per dollar on “Eats and Drinks”, 2x points per dollar on “Transit and Travel”, 1 point per dollar on everything else
- 2,500 bonus points every billing you spend over $500 for the first year (Total value of 30,000 bonus points)
- Access to Front Of The Line® by American Express Invites®
- Monthly Fee of $10/Month
For more information on the American Express Cobalt Card, click here.
Points Smart 