American Express Cards
My wife and I have been a bit quiet with Amex recently, at least in comparison to previous years. Some of that is due to her receiving the worst pop up while attempting to apply for the Hilton Aspire card several weeks ago. But another reason is we’re approaching the end of American Express cards. Since we’ve held the vast majority of them, Amex’s once per lifetime rule has become a bigger reality for us. However, there’s plenty that people like us can do with American Express cards to keep earning lucrative rewards. Here are just a few options.
No Lifetime Language Welcome Offers
I’ll start with one of the more obvious angles we can use with Amex. Routinely, Amex targets individuals for new card welcome offers that aren’t subject to the once per lifetime rule, aka no lifetime language offers. Often, these offers are similar or better to the ones cardholders received the first time they held the card. Frankly, even if these targeted offers are subpar, that’s better than nothing.
Referral Bonuses
Those playing the rewards game in two player mode with a spouse, domestic partner, or trusted friend can still earn substantial bonuses when referring others to American Express cards. Sometimes, referral bonuses, especially Membership Rewards-earning versions, can be better than some welcome offers. Recently, some cardholders are seeing referral bonuses of 45k Membership Rewards points. Carefully refer and keep records to maximize your opportunities here. Remember, you can earn up to 55k points annually per card you refer from with Amex.
Optimally Time New Card Applications
This is something I recommend whether an individual has held a particular Amex card before or not. But it can be particularly powerful in situations when one isn’t eligible for a new welcome offer. Some cards offer annual benefits, such as airline fee credits, that can be leveraged three times on one annual fee. For instance, by applying for a Hilton Aspire card in December, one can obtain the credit right after getting the card in December, again any time in the next year, and early in January of the third calendar year before the second year annual fee is due. Therefore, the annual $250 credit can easily turn into $750 with a bit of planning. Even if one applies for that card in the middle of the year, that’s $500 from using the credit twice.
One can use the same logic to maximize annual spend categories in certain situations. For example, a new Gold cardholder can get $75k of annual $25k supermarket 4x capacity on one annual fee.
Third Party Amex Cards
As I’ve written about recently, third party Amex cards can offer substantial welcome offers and benefits to new cardholders. Actually, one card’s earning structure benefits cardholders more than others in Amex’s portfolio. I’ve been busy with Amex’s own cards for years, but I have plenty of opportunities to explore Amex cards from other banks. I know I’m not alone here.
Upgrade Offers
Amex cardholders are sometimes targeted for upgrade offers to cards they’ve previously held. These offer terms can be remarkably similar to past welcome offers. Like some of you, I’ve upgraded within the Hilton family of cards multiple times and received substantial bonuses. Amex has been known to do the same with other cards, like Delta, Gold, Platinum, and Blue Cash products. Offer availability is unpredictable, so consider jumping on them when you have the opportunity.
Authorized User Bonuses
We generally avoid adding authorized users when we apply for new cards. Why? Because Amex is pretty reliable at offering bonus points to new authorized users when they spend a relatively small amount. The offers can sometimes be pedestrian (5k points) but are often much higher.
Pay Over Time Offers
Watch your email or Amex account, and you’ll inevitably be encouraged to turn on the Pay Over Time function of certain cards. Only follow through when you’re offered a bonus for doing so. These bonuses have ranged from 10k to 30k Membership Rewards points recently. All from a few clicks.
Amex Offers
I don’t want to overemphasize Amex Offers, but they can provide solid ongoing rewards for certain cards. Some cards are seemingly unique in the offers they’re eligible for, like the Blue Business Plus. One probably can’t justify a new Amex card without a welcome offer simply for Amex Offers, but they can play a role in combination with the other methods I mentioned above.
Conclusion
Indeed, many of us can justify applying for an Amex card we’ve held before by using multiple strategies I discussed today. I may end up doing so not too far down the road. The once per lifetime rule may seem formidable at first, but Amex offers multiple alternatives for us to get around it. It’s far from the most draconian rule out there. So then, I’ll continue enjoying the Amex puzzle, and I encourage you to do the same! How do you stay busy with American Express cards while avoiding the once per lifetime rule?
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