 Hello everyone, this is Amit Dan and on this channel you can find financial travel and more videos if you like what you see Please do the thumbs up and consider subscribing. Thank you Hello everyone, this is Amit Dan of amitdan.com. If this is your first time here congratulations You have found me on this channel. I do credit card reviews travel accessories reviews and articles on points and reverse and along the way I document my travel and Share my travel experience on this channel. So If you haven't subscribed already, this is the time to subscribe now because there will be more videos coming up and today I'll talk about the American Express cobalt credit card So I have my new cobalt credit card right here So I'll do unboxing and do a brief review of this card Now the difference between my review and any other review that what you see online They're most of them outside 99% of them are affiliated. So they're actually working for the credit card companies and you're not going to get honest and unbiased opinion from those reviews because you know those reviews actually by Clicking on their links when you apply or sign up they make money And so basically they're just selling the products or they're working for the credit card company. So they have Interest not to give you all that set information, but on my channel. There's no affiliated review or anything. So what you hear is the real review honest review and I'm actually not working for any credit card companies or getting paid or taking money from any credit card companies So I'm working for you and I'll give you totally honest opinion so this credit card American Express cobalt is the credit card for today and Let's start with unboxing and then I'll talk about, you know the features benefits Analysis and insert on this great card. So this is the whole package. You're looking at it came this way and I'm going to take off the whole Everything from the package and okay, so I'll set this aside here and The credit card is right in here So I'm going to just you know set this aside for now And I'll come back to this later and let's look at what literature they have included Okay, so the first thing I'm looking at is the American Express card Member agreement and other important information. So here it just talks about, you know Permitted use great limit balance transfer minimum payment and all other information. So I'm not going to go through this literature right here So I'll just set it aside here and then the next two piece We are looking at is the important changes to your card member opinion and other important changes I'll set this aside here and Then here membership rewards program and how this program works. So this one has some information but I'm not going to you know go through all of these Okay, so here is a little chart here So American Express offer different type of real real points for this cobalt card it's called the membership rewards select and This doesn't get transferred to Airplane or airline or other frequent flight program directly which you can see Here right here Like some other American Express cards where you can transfer to other airline programs But there's a way even with this card to transfer which I'll talk about later on so That's all I want to show you here and I'll set it aside so now we have a certificate of insurance and I'll talk about it a little bit here. So as you can see that this card offers medical Emergency insurance, which is the in out of province country or international travel medical insurance So you can go use this, you know when you are outside your own province and you get sick and then even just you know call their emergency line and You know you'll be covered that flight and baggage delay Plus hotel and motel burglary insurance lost or stolen luggage insurance travel accident insurance current of theft and damage insurance By such assurance protection plan purchase protection customer service. Okay, so now in terms of insurances I can see that it has a one very good insurance Which is the travel medical insurance right here and in terms of other insurances It has flight and baggage delay, but it doesn't have One of the most two important two most important travel insurances when Which you should be looking for in your travel credit card, which is the trip cancellation insurance and the trip Interruption insurance so that this card is missing those options and in terms of the medical Travel medical insurance. I'll just quickly take a look and I'll see how much is the total coverage amount. So let's Take a look here Okay, so if you take a look here you have to be Under 65 years Age and then it gives you 15 days of travel insurance and the total amount is I thought I saw the total coverage amount somewhere here Okay, so the total coverage is right here, which is up to five million dollars So 15 days five million dollars under 65 So if you are under 65 and if you're traveling Within up to 50 days then this insurance is okay for this or good insurance for this travel credit card And then in terms of other insurances I'm not going to go through all of these because I need to talk about some more some other stuff But it has you know these insurances, which I showed you now Just one important thing about travel insurances whenever you're looking for a credit card in travel insurances Don't look just that amount and everything always look for the provider because they're many Canadian trade cards one example is Scotia gold passport Scotia passport visa infinite or Scotia gold or other credit card companies which provides Provide lots of insurances, but the provider is a like, you know, the provider is no name or very Our company which has very bad ratings or reviews online. For example, I believe the name of that company is American bankers Association and then, you know on paper all those insurances look very good but when you actually go to claiming you're gonna have difficulty because the Insurance company has bad reputation of not, you know providing or fulfilling claims Based on many reviews and people who had experience. So that's what you need to look for for this great card the provider is Royal Sun Alliance insurance company, which is RSA and for travel accident is Shab or Shab life insurance company so Royal Sun Alliance, I know this company. This is a reputable Canadian company. I do not know this company so Always like, you know, I'm always comfortable with company. I know for example, you know, I'd rather go for RBC TD Or RSA for my travel insurance is rather than some companies which has bad reputations So that's a very important piece of information. You know, I'll set this aside now and let's take a look here So another important changes I don't think you need to we need to go through these and then we have another Important changes. I'll just sit inside. Okay, so now we have a literature or brochure And it looks like we're going to get a lot more information on here. So let me go through this and I'll open this up Okay, so here we have the reward structure for this great card. So this great card earn earn five times on eligible restaurant food and It can be like, you know any type of Establishment for example a grocery's a restaurant Or anything related to food. So that's a very good earning rate and two times on travel and transit so travel and transit can be like, you know taxi Uber lift and Monthly transit your local transit authority. So anything like that And so it has two times on travel expenses, which is another good thing and one times on everything else And then let's take a look here. I'll come back to this a little later So we have here e-drain travel transit and about to go get more rewarding, which is okay and then we have Some important information about membership rewards points Okay, so here One important thing I'd like to show you If you're giving the member The reward points for travel expenses, then you're getting 1000 points for 10 dollars All other purchases is 1000 points for seven dollars So what this means that if you are using your points for travel purposes, then you're getting one cent one percent return on this card Or one cent per dollar And uh per point, so you want one point One cent per dollar or one percent return And for other you're getting a point seven cent per dollar return. So one cent and point seven cent So the best thing to do not to redeem this these points for anything else, but to only redeem for travel expenses And due to the fact that you're earning five times on the selected categories So that means that you're having five percent return If you are redeeming your points for travel purchases, but you can actually get more returns on On the points, which I'll talk about shortly. So let's take a look here and Okay, so on this side Okay, I don't see anything else here. So now What I'm going to talk about is that How to utilize the five times categories so this card arms five times categories on Restaurant and dining groceries those categories So although this card does not convert directly to airline points. For example airplane or avios, but You can transfer the points from this card to Marriott points. That's one option and another Transfer option be you can transfer them to Hilton Hotel point So if you're transferring transferring from one point from points from this card to the Hilton hotel point Then usually, you know Hilton hotel point. I value one cent per point So that's like you're still getting one cent return or I'm sorry five percent return on the accelerated categories Now the best value for this card comes when you transfer to marriott points So if you transfer to marriott points, then actually it is possible to earn 2.5 aeroplan or other 40 airline miles per dollar When you spend your points on these categories, so for example, let me just show you a quick calculation here Which I did before The way it works For the five times categories You're going to be earning for one dollar five points and then you transfer five points to marriott And then you'll get six points because from this card to marriott each five points transfers to six marriott points and then Just move this a little bit. Okay, and then What happens if you transfer from marriott to other airline programs is that marriott Five k bonus for each 60,000 points. So let's see if you're transferring 60,000 marriott points to other airlines Then you're going to get five times 65 all together marriott points and The ratio from marriott points to 40 plus airlines aeroplan British airways and a lot other airlines Are included in these 40 plus airlines So basically the ratio is three is two one So for each three marriott points, you're going to get one airline point So if you do the math and if you transfer with the five k bonus And if you transfer over 60,000, uh, like technically you have to you shouldn't be doing a transferring like, you know Let's say lesser than 60,000 or after 60,000 Let's say like 80,000 or 90,000 Without reaching another 60,000 because it throws in 5000 for each 60,000. So then at a three to one ratio Your one dollar is going to earn you 2.5 airplane or avius miles or other 40 airline miles so This ratio or this one dollar Is to 2.5 airplane miles only applicable for the five time categories So for that reason This is the best airline earning card in canada If you transfer to marriott and then transfer to airlines this way And for that reason i'm going to be holding this card only for the five times and categories and even for the two times categories travel and transit um To earn the points and then later on i'll transfer to uh airlines or Even if it makes sense for me, I can transfer to hillton points because some of the hillton points redemptions Have very good value. For example, I just finished a trip and I spent I stayed in malojiya a Hilton garden in hotel all free And a video will be coming up. I'll shortly on the channel And for that I had a very good hillton redemption value, which is more than one cent per point So it all depends how you redeem your points So in order to utilize the airplane or any hotel program, you don't need to know More about those programs and once you learn the program then you can convert your uh Points from here to those programs and you can get very good value for your program. For example If you redeem airplane or british airways ous or other airline program technique very tactfully Then for each airplane point you can get 5% reward or even 10% reward when you transfer them for business class flight redemptions, so If you have this card and if you Use those accelerated categories, then you basically earning a lot more airline points And this is a very good card for that reason The other redemption can be you can do fixed redemption from american express as well And then if you do that Then you should get at least 1% return. So for those accelerated categories It's going to be per dollar 5% return So redeem this card the best thing you can do with this card is to redeem for hotel or points And they're transferred to airplane or airline points But if you are not familiar with you know all the uh all these then just go for the travel redemptions And you are still getting a good value for your money for these categories because it's like having a 5% return And 2% return. So that's the good thing about the card Now let's talk about the annual fee. This card doesn't charge annual fee at a time. So it charges $10 per month. So you know no other card in canada or even probably other countries. I never heard of this Or I don't know if any other country we have They have this option that you know the annual fee gets charged every month. So every month you're going to be paying $10 instead of $120 at a time, but I like this feature. I think this is a very good option and People who do lots of groceries This is a good card to have and if you you know give an additional card to your friends or to your Like you know, uh wife husband or partners then you can get A lot more points just from the five times categories Now let's talk about what the card missing I told you in the beginning that the card doesn't have trip cancellation insurance And then it doesn't have a trip interruption. So it's missing those two And another thing it's missing is that it doesn't have any zero foreign currency conversion feature So that means what it means that anytime you're buying anything online in other currency than canadian or You are in other country than canada Then it's going to charge you a 2.5 percent which is standard for most canadian cards foreign currency conversion fee So that I don't like for that feature So do not use this card for foreign purchases or foreign transactions and another thing this card is missing is the concierge service So it's very important that you have access to your concierge service for travel card because concierge can do lots of things And to save you a lot of time and hassle concierge can book your whole trip You know can provide you information Can give you access to events or tickets or restaurants that you Wouldn't be able to do it by yourself or you wouldn't have those access So it's always have to good to have concierge. So this card is not providing any concierge But it has the hundred twenty dollar fees Which many of the canadian cards provide concierge and trip interruption trip cancellation insurance For hundred twenty dollar anal fee. So that that's what the card is missing But except that this is a very good card for the accelerator categories Which is the five times and two times and good card for the travel medical It has five million fifteen days under sixty five So another good thing I like is about the ten dollar per month anal fee And then it doesn't charge any Any additional fees if you give additional cards to other people. So that's another good thing So these are the insights and analysis of this card now I keep My plan is to keep this card and only use for groceries and for travel. I'm not going to Use if you know, there's a foreign transaction fee involved Or if like you know, I need a trip cancellation or trip interruption insurance Then I'm not going to use this for travel purchases But if other If I do not need those then I can use this for travel purchases as well So five times is the best category is the best earning rate in canada and earning 2.5 airline miles for each dollar spent on the accelerator category is the best In earning rate in canada as well. So for those reasons I am going to keep this card and So basically that's all for today and let me just now take out my New america express cobalt card and i'll show you how it works So here we have Okay, so here's the american express cobalt crate card I like the look looks of this card. It looks very, you know, uh, very fancy and looks very like, you know Upskill card. So I like that card, but it's just made of plastic but it's a very good looking card and That's how it looks and I feel like what do you see? Please give it a thumbs up and subscribe if you don't like Uh, if you don't find anything What I told you then, you know, you can even dislike Dislike the video And I'll be coming out with more travel videos great card videos and other unboxing or product reviews videos So that's all for now and I'll see you shortly. Thank you