do I need to have good credit to get a cobalt card? Can anyone tell me how it works and what are the qualifications.
It is an UP-SCALE "GIFT CARD". You pre-load it with a check or by credit card charge, then you use it like any other AMEX card...
George is right. I got one and I have a few charge offs, 1 auto repo, and some medical bill collections. You don't need good credit. They don't even check a credit report. The card is pretty kool looking though. Candi
It is basically a debit card. You put money on it from a checking account or credit card and then you can use the coblat card. You can use it for anything. Some places give a discount to AmEx purchases, I think you could get it if you pay with the cobalt card. Candi
Breeze was saying that the best part of this card is that you can move money to many different sources (for free) and load it from your CC (for free). She said they post that they charge for those money moving transactions to/from CC but they had not been charging her and she didn't know if they were really going to ever start charging for them. Basically you could use it for cash advances at the % rate of purchases and like that. Anyone know if the Cobalt Card is charging the fees they post on their website for transferring money from a CC to load the Cobalt card? -Peace, Dave
Chele, no it does not report as a credit card...some think it may put you in "good graces" with Amex in the future, but no proof there yet.
I transferred $400 Cobalt charged me $1.00. I didn't mind. Made a big payment on my Citibank card, got an increase without an inquiry. It works. Chele, that's a secret though. :X Nave cannot keep secrets. breeze
I've been using my Cobalt Card to make purchases online. As an example, I found a place that had really inexpensive computer cables, and while I trust their business, I don't trust their site security. They WEREN'T using a secure site to transact. So out came the Cobalt Card. The balance is so small on that card (I tend to fund it $50 or $100 at a time) that I feel REALLY safe using it for piddly online purchases where I wouldn't really want to risk my real credit cards. Randy
"That one" is what's soooooo cool about the Cobalt card. You roll along making your payments as usual. Then you see you are coming up on a 6 month interval on one of your cards. You get a little extra cash and make a whopping big payment - their computer is impressed, you get your increase. Costs you $1 for the Cobalt fee, and ATM fees for withdrawing the cash. Small price to pay. breeze
Breeze, So you haven't tried the free Travelers Cheques feature yet? We've had very little feedback about it. Saar
Not yet, Saar, but getting ready to.....LOL got a 6 month interval coming up one another card. breeze
Actually, it's a $500 min??? Maybe I'll use it to transfer some, since I done run my Yahoo all the way up. breeze <speaking southern, y'all>
