The American Express Cobalt has been named one of the best travel benefit-focused credit cards in 2018 by finance blog MoneySense. The Millennial-friendly card relies on a point-based system that contributes to convenience and deals in a number of categories, including travel and entertainment.
For every month that users spend $500 on their American Express Cobalt, they gain 2,500 extra points. In addition, for every $1 spent at the grocery store, restaurants, and other food-related businesses, individuals earn five points, while for every $1 spent on travel or transit buys -- including flight, public transit, cabs, etc., they earn two points.
The points on the American Express Cobalt can be used for flights anytime or to cover taxes and fees. In addition to this, users enjoy a number of travel benefits -- from flight delay and lost or stolen baggage insurances to hotel burglary and emergency travel insurances.
With this new card, AMEX strays away from its traditional reward system to introduce much higher flexibility and gives its younger members more freedom and customization options.