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Amex Welcome Offers
Have previous Amex welcome offers spoiled us? I rhetorically asked this question on a not-too-distant episode of Spending Time, and my partner also thought so. Amex’s recently-expired welcome offers on the Hilton Surpass and no-fee cards each offered a free night certificate. The subsequent offers were still above normal but didn’t include the cert. These newer offers were solid enough to apply for, in my view, but the lack of cert made them look much worse than they actually were. Many could be manipulated into waiting around for another elevated offer with the cert, especially given Amex’s once per lifetime rule the bank theoretically follows. But some can make a case for just going after the Amex product they want at their convenience. Here’s what to consider.
Immediate Card Benefits
Many Amex cards, often maligned as coupon books, provide cardmembers valuable benefits right off the bat. Waiting around for a possibly-better Surpass welcome offer can mean putting off automatic Hilton Honors Gold status and useful daily food and beverage credits. While Amex’s clubs are far from perfect, would you rather sit in a lounge now or a terminal indefinitely, all because of you want a few thousand more Membership Rewards points?
Referral Bonuses
Amex offers remarkable referral bonuses to cardholders; right now, I’m seeing 30k and 35k offers in our accounts. These are easy enough to leverage for those in the points and miles game with a spouse, domestic partner, or fellow hobbyist. Waiting around for elevated welcome offers can mean giving up on huge referral bonuses now. This can possibly devalue and definitely obscure the true rewards of deferring for a higher-perceived welcome offer.
Higher Velocity, More Rewards
I follow a high turnover strategy with Amex cards. Some can relate, but it’s not for everyone. This not-rocket-science principle is the more cards I can pick up in a timely manner, the more rewards I can quickly obtain – in terms of benefits and points via welcome offers. I’ve come out ahead actively pursuing normal Amex welcome offers. And another aspect makes higher earning even easier – that’s next.
No Lifetime Language Offers
Amex routinely provides signup bonuses that don’t include the terms with once per lifetime bonus limitations. These are commonly known as no lifetime language (NLL) offers. Such opportunities highlight how waiting around for an elevated welcome offer can be pointless (pun intended). Instead, individuals could’ve previously picked up a welcome offer and gotten another one subsequently, easily outdoing one elevated, far-off signup bonus.
Maintaining Control
Amex’s once per lifetime rule tempts people to put off something they’d naturally do now in the hopes of obtaining a larger signup bonus later. By doing so, these individuals are ceding some control to Amex. They’re letting Amex dictate more rules for how they play the game. Of course, some policies do exist for how we engage in the hobby. But the cards we go after and when we apply for them is more within our control. Don’t let outside forces unnecessarily command those decisions.
Amex Welcome Offers – Conclusion
Of course, doing it all now isn’t necessarily the answer. Other Amex rules exist which encourage individuals to prioritize. Unique needs, multiple elevated offers, or both can create dilemmas. But attentive Amex fans can do more than they might initially think here. And, in the rare case none of the above four factors apply in a given situation, go after an elevated Amex signup bonus first.
But I generally don’t overthink the concept of Amex welcome offers. I’ve found taking action as soon as possible instead of waiting usually leads to more rewards. Mediocre (at worst) is better than nothing.
How do you decide which Amex welcome offers to pursue?
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