Credit Cards

American Express Cobalt (#amexcobalt)

  • Last Updated:
  • Aug 20th, 2018 12:59 pm
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Deal Addict
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Jan 30, 2012
4832 posts
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Ottawa
does anyone know how to "high utilization ratio" get reported to the bureau?
is it only reported when the statement is generated?

suppose i make advance payment before the statement is generated to reduce the amount owing, will this result in a report of "low utilization" to the bureau?
Sr. Member
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Mar 3, 2005
781 posts
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Mississauga
Most creditors report balance (which is used together with all your other tradelines to score your utilization) on statement date.

There are some creditors (Scotiabank I'm thinking of you) - that seem to report the balance on the last day of the month (for me anyway).
Deal Addict
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Jan 30, 2012
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hopetindall wrote:
Jan 5th, 2018 3:36 pm
Most creditors report balance (which is used together with all your other tradelines to score your utilization) on statement date.

There are some creditors (Scotiabank I'm thinking of you) - that seem to report the balance on the last day of the month (for me anyway).
... so the high utilization ratio is calculated based on available credit on ALL of my cards?
if so, then this is not an issue for me ... as my only problem is this CC ... i am near 60% utilization now ... :)
Sr. Member
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Mar 3, 2005
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Mississauga
From what I've read there is a calculation on a per card basis (that is weighted weakly unless you are overlimit) and a calculation on a total card basis (that is weighted more strongly)
Deal Addict
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Jan 30, 2012
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i have already activated my cobalt cc last week and almost max'ed out the super low CL .... just received an email telling me my card has been activated and i should start using it ... wth with amex lately?
Jr. Member
Oct 1, 2008
125 posts
59 upvotes
ValueHunter999 wrote:
Jan 5th, 2018 7:07 pm
i have already activated my cobalt cc last week and almost max'ed out the super low CL .... just received an email telling me my card has been activated and i should start using it ... wth with amex lately?
They gave me a huge CL on my cobalt, but I had their simply cash card laying around for years.
Newbie
Jan 7, 2018
8 posts
What is the best use of points for the Cobalt?

Best bang for the buck points option that is. Use for travel?
Deal Addict
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Apr 16, 2009
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Vancouver
junkmastah wrote:
Jan 10th, 2018 4:17 pm
What is the best use of points for the Cobalt?

Best bang for the buck points option that is. Use for travel?
I think many will agree that transferring to SPG is your best bet to get the most value out of your points from the Cobalt.
Newbie
Jan 7, 2018
8 posts
DefconZero wrote:
Jan 10th, 2018 6:17 pm
I think many will agree that transferring to SPG is your best bet to get the most value out of your points from the Cobalt.

Okay and the best option for this method is to do it right from the SPG website? Or can things be done within the Amex Rewards site?
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Apr 16, 2009
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junkmastah wrote:
Jan 10th, 2018 6:26 pm
Okay and the best option for this method is to do it right from the SPG website? Or can things be done within the Amex Rewards site?
Through the AMEX site.

You'll have to add your SPG number, than do the transfer. Min. 1000 points, then increments of 100.

Takes roughly ~5 days from previous experience for the transfer to go through.
Jr. Member
Oct 1, 2008
125 posts
59 upvotes
hopetindall wrote:
Nov 22nd, 2017 10:14 am
Good analysis; this is what everybody should do!

Although - still MAY be a good card for the first year if you can manage $500 spend to get the total 2500 MR bonus.
CanadianSpruce wrote:
Jan 4th, 2018 2:10 pm
It could be it was just a one time transaction error, I've had it occasionally (Perhaps 3 or 4 times a year) and when reattempting its gone through.
It ended up being the fraud department locking out my card. I spent $1200 with 2 prepaid 500 dollar cards and some groceries, so I must of been flagged. After Amex called me and verified the purchases I was good to go. And Mac's registers as a grocery store near me so bonus. Love 5x!
Deal Addict
Jul 30, 2001
2662 posts
885 upvotes
GTA
<3 my Cobalt card. So many SPG points assuming you shop strategically and maximize your earning potential.
Deal Addict
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Jan 30, 2012
4832 posts
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Ottawa
N8Magic wrote:
Jan 11th, 2018 1:34 pm
<3 my Cobalt card. So many SPG points assuming you shop strategically and maximize your earning potential.
yes, so far ... all my purchases in december qualify for 10x ... and now in january ... only 5x ... plus getting 2500 each month after spending $500+ .... can't wait for the 10k after $3k spend ...
Deal Addict
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Jan 30, 2012
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Ottawa
DefconZero wrote:
Jan 10th, 2018 6:40 pm
Through the AMEX site.

You'll have to add your SPG number, than do the transfer. Min. 1000 points, then increments of 100.

Takes roughly ~5 days from previous experience for the transfer to go through.
what is the conversion ratio?

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