I USED THE Cobalt Card .....

Discussion in 'Credit Talk' started by dogman, Jun 30, 2001.

  1. dogman

    dogman Well-Known Member

    I received the Cobalt Card today. FYI - the 4 digit code to verify on the web is typed underneath the actual card on the mailer.

    It does look nice - American Express should have been printed larger. I used it at a japanese bath house this afternoon - the checkin groups all gazed at it - they all thought it looked GREAT - and it does.

    BUT, I hated using it - when I normally make that charge on my Green Card and get Membership
    Rewards points for the purchase.
    I still think the Green Card is very still the best example of understated, classic , excellent good taste. (And obviously I can charge $10K with no hassle - which I describe in another post- that's very comforting!)

    They should let Cobalt Card be linked to Membership Rewards acct and I could see more benefit. Also it looks prestigous!
    If you have a dog CCB GOLD, you don't dare ever show that to your friends!!!

    You could charge an amount of "credit" and move to Cobalt. No embarrassment - nothing but typical hip AMEX kewl good innovative taste!

    They delivered the Card to me today - just about 4 days after I applied. Amazing !

    Cobalt kewl but no points - dogman
  2. Saar

    Saar Banned

    Hey there Dog,

    Applied for it today too.

    Don't you get MR points the minute you transfer funds from the Green to the Cobalt? Actually it's even better, because, if you're short of few MR points to redeem the gift you want, you just transfer the necessary amount to the Cobalt, right?

    You can then withdraw the money at any Amex ATM (fee-free?), or spend it as usual.

    I have to admit my interest in applying was also affected by the money-moving features (and Amex Sheraton/ Blue points earned in the process), but I haven't really gotten into all the features yet. Let me know what you think.

    BTW, how are you doing these days?

  3. dogman

    dogman Well-Known Member

    Hello Saar - comment ca va monsieur?

    On vacation this week!!!
    doing well here - was pleased about AMEX letting my no pre - set limit include charges up to at least $10200 without question :)

    I like them very much Saar! MP$$ was correct about Cobalt Card being thinner than a regular AMEX. She is correct - I put it side by side with my Green - it is a bit thinner - but not flimsy.

    But the power is in the Green - but Cobalt does get
    very positive looks of approval when I used it today - all the clerks passed it and loved the design.

    c ya monsieur - dogman
  4. Nave

    Nave Well-Known Member

    I went to the Amex website to read about this card and could not see where you were given the ability to fund the cobalt card with a credit card, only saw where you could fund it with an ACH transfer or bank account. Is it possible to fund Cobalt with another credit card?

    If so, it makes it worthwhile because you can get the rewards and grace period of the credit card with the protection of the Cobalt card.

  5. breeze

    breeze Well-Known Member

  6. Nave

    Nave Well-Known Member

    Well that is a great way to prevent me from going overlimit then...I transfer only the amount I can afford to spend from one or more of my credit cards and then I can not be hit for a crafty overlimit fee from the credit cards since I can only charge the pre-funded amount. hmmmmmmmmm. Thanks Breeze!

    How bout this question...do you think it will lead to an easier time at getting a regular Amex green if I get the Cobalt and use it for a while?

  7. breeze

    breeze Well-Known Member

    I honestly don't know. But...... think about it...(Ithink I posted this before)..why would AmEx buy this company??? Why give away free debit cards? What's in it for them? I'm sure they get the merchant fee when you use the card, but it's also got to be to establish a relationship with future customers.

    In their promotions, it is designed so parents can get their teenagers a card, but when we put in our DOB and SSN, they are accepting it, right? So they know we are not teenagers.

    I think it's pretty astute marketing.


    SCHOLR Well-Known Member

    Just don't use it @ the local package store or they

    might revoke it, permanently:
    Second, your Cobaltcard has Targeted Acceptance that helps block minors under 18 from buying illegal items like cigarettes, alcohol or pornography over the Internet. A debit card is not restricted to protect minors.
    I see no coolness in this card, unless you are a

    Teeny Bopper!!!

    SCHOLR Well-Known Member

    Read more:


    How is my teenager protected from buying adult merchandise online?

    American Express has a proprietary safety system for minors under 18 called "Targeted Acceptance" that adds an extra layer of protection for online shopping. If you use your Cobaltcard to purchase anything illegal, and we find out about it, we will cancel your Cobaltcard and you will not be eligible to apply for a new Cobaltcard


  10. breeze

    breeze Well-Known Member

    You just don't get it. You move money around - to your advantage.

    Did you read all of the posts on here about the Cobalt card and what you can do with it?

  11. Nave

    Nave Well-Known Member

    I saw a couple posts but must have missed the advantages one also...I will look for the "moving money advantegeous" thread now...Thanks Breeze :)

  12. breeze

    breeze Well-Known Member

    You can give yourself cash advances without fees and at regular interest rates, and your credit card company does not see a cash advance, they see a purchase - i.e. you can move money from another card to Cobalt card, immediately go to an ATM and withdraw cash. limit is $100/day, $300/wk. Cool feature.

  13. breeze

    breeze Well-Known Member


    If you can juggle your closing dates, I think you can make it look like you're making bigger payments each month ;) Just float the money around from card to card.

  14. Nave

    Nave Well-Known Member

    I am not under 18, I think that protection is available but not a necessary feature...In other words, I think if you are over 18 you can buy beer with it, without it being cancelled (well I think you have to be over 21 to buy beer...cigarettes are ok :).

    Don't know where my other post went ... musta gotten lost. Anyway here it is again... I read the cash advances post and see what you mean now. So far, I understand these advantages:

    1) Cash advances for an ATM fee ($1 or so) by transferring cash from a cc to cobalt card and removing it via ATM.

    2) You can beef up the amount you spend on a credit card without actually spending the money by transferring cash as above then paying off your cc bill with the cash so your activity is high when you are just revolving the same cash.

    3) May get you in good graces for an Amex credit card Like Amex Green (Jury still out on if this is true).

    4) Prevent skimming or theft...if you pre-fund $150.00 and go out to dinner at a restaurant where a waiter skims your account info or charge something over an "unsecured" Internet site, or one where your card number is "stolen", you will not be giving away anything beyond the amount you funded.

    5) You can prevent over limit charges from LOW limit cards (like my CapOne $500 limit) by transferring $490 to Cobalt card and then charging on it...CapOne will let charges go beyond the limit without denial due to the overlimit fees they get, but the Cobalt card will run out at $490.

    6) You can combine limits - If you have 2 or 3 low limit cards ($500 cards) but want to charge something like an $900 camera, you could use the cobalt card after combining the limits

    7) It looks kool, and says Amex :) LOL

    8) It is thin.

    I don't know about the theft or skimming advantages, I believe you get better protection from theft (either skimming or Internet fraud) from most credit cards, some even have 0% liability now, so I am not sure what the advantage there is.

    1 negative is that it will not let you fund more than $2000 so, I guess you are not able to combine large limit (like $5000+) cards for any benefits like a $10,000 purchase.

    (any other advantages? help tell me what I may be missing) I may get one just for the cash advance reason though.

  15. breeze

    breeze Well-Known Member

    Gosh, Dave,

    Your post did disappear!!! and look at mine - I quoted it. LOL

  16. Nave

    Nave Well-Known Member

    LOL like an old married couple you are answering what I haven't even asked yet :) Hehehehehe
  17. breeze

    breeze Well-Known Member

    Oh Lizard, it has to be really, really high. ;)

    They don't check your credit. It's a pre-funded debit card.

  18. breeze

    breeze Well-Known Member

    Tooo funny!

  19. Cyprigirl

    Cyprigirl Well-Known Member

    When you apply for Cobalt, there is a feature that ask what is your age bracket and I think your application would be determinative of they would code your account. Because in order for a teen to get the card, the parents have to give authorization. So I really don't think you would have a problem using whereever you go.

    Just my 2 cents:)


  20. matty61184

    matty61184 Well-Known Member

    I beg to differ

    If you are in the case I am, where your credit report has an error with the birthdate, you might be able to get the card. My birthdate on the report shows me as being 19, when I'm only 17. I'm not going to dispute it until I'm 18, because it's been very handy in allowing myself to extend credit to myself. It just falls on the responsibility of the individual who has the card. I've had credit for a year and a half, with a perfect payment history, and that got me the nextcard plus w/ the 9.99 percent apr. It does pay off to keep your credit in check. I'll have to check out this card you were talking about.

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