Credit Cards

Amex Cobalt low limit

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  • Apr 23rd, 2021 10:14 pm
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[OP]
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Oct 17, 2004
791 posts
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Toronto

Amex Cobalt low limit

Just applied for the Cobalt card a few days ago.

Just got email approval and confirmation card is on the way. Applied for this as a Capital One aspire replacement.

Very surprised to see in the email that limit approved is $1500! Are others getting low limits for the Cobalt card or is this a normal thing for Amex to give such low limits. I'm used to getting 10-20k limits so not sure how useful only 1500 is to use...
I'm too poor to buy crap
32 replies
Deal Guru
Dec 5, 2006
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Markham
SS76SS wrote:
Biggest thing is I've got a $12k limit I'm finding hard to get elsewhere. Just got approved for a Amex Cobalt only to realize the limit approved was only $1k, and no Loblaws does accept. Mad at myself for the credit inquiry.
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Aug 24, 2016
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The Prairies
Lenders still have their guard up due to COVID, and the expected skyrocketing defaults, so that’s probably the reason for your low limit.
Many have had their limits lowered by Amex during the past couple months.
Would you rather have been declined?
Deal Addict
Nov 8, 2017
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I've had low limits to start pre-covid
In 60 day apply for a limit increase and you'll get it

End of thread
Sr. Member
May 12, 2019
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Well OP what are your limits on your other cards like? Do you have a mortgage and/or car payment? Things like that will determine your credit limits. If you have like $30k on one card and now none here don't feel unduly surprised.
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Dec 5, 2006
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Cheapmaestro wrote: Well OP what are your limits on your other cards like? Do you have a mortgage and/or car payment? Things like that will determine your credit limits. If you have like $30k on one card and now none here don't feel unduly surprised.
"I'm used to getting 10-20k limits so not sure how useful only 1500 is to use"
Sr. Member
May 12, 2019
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smartie wrote: "I'm used to getting 10-20k limits so not sure how useful only 1500 is to use"
How many other lines? You got 3 then wtv. If you have like 10 then eh.
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Jan 16, 2007
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When I got my SCP I received a small limit too, despite holding a charge card that I had spent substantially more on. I waited and received an increase to 3X the amount, which is suitable for my spending. It's not a high limit or anything but gets the job done.
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[OP]
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Oct 17, 2004
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Toronto
Cheapmaestro wrote: Well OP what are your limits on your other cards like? Do you have a mortgage and/or car payment? Things like that will determine your credit limits. If you have like $30k on one card and now none here don't feel unduly surprised.
Yes, I got a mortgage and great credit score. Average spend is over 5-8k on Cap1 card and pay in full. I'm not someone with bad credit or carrying a balance. Was looking forward to this new card but already not a great feeling that they only see me worthy of 1500... will call them after I get the card to see what the story is.

Based on what I have read online, low limits are normal for this card then you can raise it. Wish I knew earlier, may not have applied.
I'm too poor to buy crap
Deal Addict
May 16, 2017
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mk316 wrote: ...

Based on what I have read online, low limits are normal for this card then you can raise it. Wish I knew earlier, may not have applied.
I suspect AMEX in particular is especially tightening-up lately.

As far as low-limits for Cobalt; I've had and churned many AMEX cards over the years, along with plenty of other cards, I typically get $20-$25k limits from AMEX and that wasn't any different with Cobalt. I've typically held a charge and a credit card with AMEX simultaneously - and 3 - 4 other credit cards.
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Dec 5, 2006
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robsaw wrote: I suspect AMEX in particular is especially tightening-up lately.

As far as low-limits for Cobalt; I've had and churned many AMEX cards over the years, along with plenty of other cards, I typically get $20-$25k limits from AMEX and that wasn't any different with Cobalt. I've typically held a charge and a credit card with AMEX simultaneously - and 3 - 4 other credit cards.
Economy should be a reason and amex is not the only one I guess

But could it also be due to Rogers and cap 1 devaluation, it drove a lot applicants who are not their target customers segment but apply the card anyway ?
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Jan 9, 2011
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mk316 wrote: Just applied for the Cobalt card a few days ago.

Just got email approval and confirmation card is on the way. Applied for this as a Capital One aspire replacement.

Very surprised to see in the email that limit approved is $1500! Are others getting low limits for the Cobalt card or is this a normal thing for Amex to give such low limits. I'm used to getting 10-20k limits so not sure how useful only 1500 is to use...
That's the lowest I have seen on a Cobalt card.
Amex gave me $32,700 when I got mine last year. Exactly the same limit I had on one of my MBNA cards.
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May 8, 2009
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Going to the Moon
OP did you ever have an AmEx before? My AmEx history...
  1. 2009 AirMiles - $1k limit
  2. 2018 SCP - $8k limit
  3. 2020 Cobalt - $12k limit
The previous two are long gone. I so far have only held one AmEx at a time.
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Kiraly wrote: That's the lowest I have seen on a Cobalt card.
I can recall in the Cobalt thread, some time ago, someone reported getting a $500 CL on Cobalt.
I can clearly recall this, because it was the exact amount you needed to spend monthly to get the bonus points from the signup bonus.
[OP]
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Oct 17, 2004
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titaniumtux wrote: OP did you ever have an AmEx before? My AmEx history...
  1. 2009 AirMiles - $1k limit
  2. 2018 SCP - $8k limit
  3. 2020 Cobalt - $12k limit
The previous two are long gone. I so far have only held one AmEx at a time.
I recall having and closing an air miles amex like over 10 years ago when Costco accepted Amex. You think that makes a difference?
I'm too poor to buy crap
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mk316 wrote: I recall having and closing an air miles amex like over 10 years ago when Costco accepted Amex. You think that makes a difference?
It should help...but you haven't had any AmEx since? Maybe that has an effect... combined with issuers' low risk tolerance during the pandemic. I got my Cobalt just before lock-downs started.
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They were sending me CLIs monthly to go from 5K to 10-12K I kept saying no finally I figured do it so it looks like I can handle higher limits (my highest is 8500 on a BMO CC), then the system denies me recently when I went to accept it only soft pulled my score at least, my score is over 740 on TU so its not that I also have 2 to 3 cards open at a time with them and push 3K of spending monthly paid in full on their charge cards so I am going to say they have tightened up due to covid sadly.....but nevetheless unless they close me for any churning activity they are still my number 1 for customer service with CTFS coming in 2nd, whenever I call for something questions are handled quickly and properly
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Dec 5, 2006
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mmikeman wrote: They were sending me CLIs monthly to go from 5K to 10-12K I kept saying no finally I figured do it so it looks like I can handle higher limits (my highest is 8500 on a BMO CC), then the system denies me recently when I went to accept it only soft pulled my score at least, my score is over 740 on TU so its not that I also have 2 to 3 cards open at a time with them and push 3K of spending monthly paid in full on their charge cards so I am going to say they have tightened up due to covid sadly.....but nevetheless unless they close me for any churning activity they are still my number 1 for customer service with CTFS coming in 2nd, whenever I call for something questions are handled quickly and properly
That's what people always said: you get credit when you don't need and denied when you do

Might be someone who recently applied can give some DP
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Mar 4, 2016
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Not trying to brag but thought I'd throw in a data point...

I applied yesterday and was approved for 15k. I previously had the costco amex/simply cash but they closed it on me last year after a year of inactivity. The limit on the old one was 19k which I had for approx 7ish years before they closed it
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Jul 20, 2017
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My cobalt started a bit low too, now it's over 20k and I could have it tons higher but just keep it there since I have a lot of other amex.

They are great at upping your limit long as you use the card (and it's freakin cobalt so why wouldn't you)

They sent me both pre approved increases that were pretty huge, and always accepted when I clicked online to increase it myself.

Load up the restaurants / uber eats / sobeys, rake in the points and get your limit up, cobalt is awesome.

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