Nana- If the 'HUH' was reffering to me, I didn't realize that my email option was turned off in my preferences. It is turned on now.... Hope- I was one of the college students, but I graduated with about 25k of CC debt. It was awfull...just starting out, great job, and couldn't pay my bills. I was afraid to answer the phone. I would have 50-60 'out of area' calls on my caller-id a day. All my cards were maxed, I had to borrow my parents CC to pay for a business trip and pay them back. I was to blame for being in debt, thats for sure. BUT, I also blame the CC companies. They just keep rasing the limits when you maxed them out. We were college students, they knew we didn't have income. There should be penalties for copmanies like that! Shawn
Huh? Wha? There's some actual reason to have a Cobalt card? I haven't been able to figure out the attraction either, unless you can't get a credit card.
K, for me (repeating myself but I like that! LOL)...I don't have a debit card so it will help me out if I can fund it from my checking accounts (which I have 2). Now..did someone mention you can't fund with checking? I thought you could.
NanaC,how can you not have a debit card with your checking account unless you did'nt want it? I have heard of people not being able to get a check card ,but never a debit card.
No, we have "leeetil" banks..we prefer smaller banks that you get to know the people at..and they don't offer them yet. They are in the works.. but not yet. Thanks, George, I thought I read that..so yeah, it'll work like a debit card for moi! Cool.
Ok, here's the "secret" reason to have a Cobalt Card: Let's say you have a VISA card where the cash advance APR is 18.9% even though the APR for purchases is 12.9%. (Sound familiar? You can fill in the blank with your respective APRs.) Simply fund the Cobalt Card from that credit card. Although you may pay a small fee to AmEx ($3 or $5, depending upon the amount), you won't pay your bank's exhorbitant cash advance APR. The transaction appears on your VISA as a regular purchase to "Cobalt Card." Since you can fund the Cobalt Card up to $2000, that can add up to significant savings if the amount of the cash advance is large enough. Then you can convert your Cobalt balance to American Express Traveler's Cheques for free, and deposit 'em. Here's another "secret" reason to have a Cobalt Card: It's cool looking. It's free. It's like an AmEx pacifier, allowing those of us who can't yet qualify for the real thing to suck an ersatz version for a little while. It's the Official Card of the Creditnet Insiders and Old Timers Club. A few reasons why you wouldn't want a Cobalt Card... You're a very serious minded person who only desires cards which report to CRAs, who only goes out if your date puts out, and who becomes disappointed with any movie that doesn't include at least one scene where guys on motorcycles race through shopping malls shooting at each other. Hope this helps! Doc
Hummm... 1. I'm never serious. 2. You've got me there. 3. Replace "guys" with "girls", replace "motorcycles" with "topless" -- you can leave the shooting and the shopping mall part if you'd like. But I still have a Cobalt Card.
Then you can convert your Cobalt balance to American Express Traveler's Cheques for free, and deposit 'em. ----------------------------------------- Where can this be done? Do I have to go to an AMEX office?
LOL, breeze, oops! George, yes. Nana, hang in there! I'll bet the so-called "48 hours" doesn't include the weekend. Keep me posted! Doc
Another reason to have this card is for those of us that have a "check card" through our checking accounts don't always feel easy about using that card to make online purchases or catalog purchases by phone. Say I see an item I would like to buy in a catalog. I do not want to charge it on my credit card, I would like to pay by check, but that would take time for the company to get the check and I don't want to use my "check card," process the order, and then send my order to me. As long as the merchant accepts AMEX, I should be able to pay using the Cobalt card and have my order as quickly as though I paid by a credit card and yee haw the item is actually paid for! No bill to worry about next month. Yes, most of us already have credit cards, but there are times we prefer not to use them. I think it is a much safer card to use than a "check card." After going through a BK last year, I prefer to keep my debt ratios low. Even though I do have some credit left and I am rebuilding, I really like not having credit card debt hanging over my head. So it is convenience rather than credit rebuilding as the reason I want this card. I am sure that my reasons are some of the same reasons others have this card. Not to mention the other reasons such as the card looks way cool, etc. Sorry Breeze, I just can't keep that part of the secret ;(
