I Just Can’t Stop: Another Mini Application Spree That Produced Juicy Results
I just wrote about some applications to kick off the new year a few weeks back and I am already back at it again. This was not really planned but some tempting offers popped up and I decided to clean up. The payoff for only 3 cards is pretty substantial so let’s take a look at how I did.
Mini Application Spree Results
This entire thing kind of started because of American Express’ recently increased welcome offers, referral offers and statement credits. The combination of the three were just too good to pass up. So what did I grab?
Delta Reserve Card
First up was the Delta Reserve card. I already had this card on my radar because of the increased 80,000 Skymiles welcome offer but it was the increased 20,000 MQMs that really intrigued me. With the rollover of MQMs earned during 2020 to 2021 I had already planned on going for some mid tier status with Delta (which will be my first earned airline status). This offer, plus the potential to earn more through spend with the card’s MQM bonus, was just what I needed. Then Amex launched the $200 statement credits for home improvement projects which helps offset the $550 annual fee. But it wasn’t until after I checked my wife’s Amex Gold referral and her 30K Membership Rewards offer that I decided to pull the trigger.
- Instant Approval
- $5000 in spend over 3 months
- 80,000 Delta Skymiles
- $200 statement credit
- 30,000 Membership Rewards points from referral
- $550 annual fee.
Bank Of America Business Advantage Cash Rewards
The card I had planned on grabbing next was the BOA Business Advantage cash rewards card and it’s $750 statement credit. I had two Bank of America business cards so I closed the one I had not used in years to give me a better shot at approval. I had planned to let that sit for a while and let the closure fully post to my account but with me grabbing the unplanned Delta Reserve card I thought I should move before it hit my reports. So about 10 minutes after my Amex approval I hit the submit button and was (surprisingly) instantly approved. This was my first business card application with my new EIN that I had set up for the Brex Offer (already cashed out that $1K!).
The card has a pretty solid earning structure for a no fee card. You can earn 3% in one selected category. Those options include gas stations and office stores, two of my bigger earn areas. This becomes even better if you have bank status with Bank of America.
I shared a tip on our spending podcast in the Diamond Lounge of how I planned to get my gas spend on. So this card could come in handy long term. I get a better return with my Amex Business Gold (4X earning) but that comes with a $295 annual fee. That would require $15,000 in gas spend before I hit the breakeven point between the two annual fees. That is assuming a 5% earn rate with the Amex Business Gold (4X cashed out at 1.25 cents via Schwab Platinum). Something I will have to consider at renewal time for sure.
- Instantly approved
- $5000 in spend within the first 90 days
- $750 statement credit
- No annual fee
American Express Green Card
The next day I was sitting there thinking about my wife’s referral offers and the statement credits on certain cards. That is when I decided to go for an Amex Green card. I closed this card about 4 1/2 years ago so I am not sure if I will get the welcome offer or not but I went for it anyway. There was no pop up so I think that I may get it (I’ll update when I complete the spend). But I was good with the decision either way. Just for signing up, and getting approved, my wife received a 25,000 Membership Rewards point referral bonus. It was for 30K but this one put her at the yearly 55K cap for the card. The $149 annual fee would be more than offset by the $200 statement credit for home improvement stores. Even without the welcome offer I make $50 and 25,000 points, that is a win in my book.
The welcome offer was for 50,000 points after $2,000 in spend within the first 3 months.
- Instantly approved
- $2000 in spend within the first 3 months
- 50,000 Membership Rewards points
- $200 statement credit
- 25,000 MR points referral offer
- $149 annual fee
When you tally everything up I have the possibility of earning 105,000 Membership Rewards points, 80,000 Delta Skymiles, $400 in statement credits, $750 in cash for $699 in annual fees. This will require $12,000 in spend over the next 3 months.
I value this haul at over $2600 in value after taking the annual fees into account, and I think that is on the lower end of the perceived value spectrum. Not too shabby! That will be closer to $2000 if the Green welcome offer doesn’t post.
If you work in a two player system the American Express referral program can make certain plays very valuable. If you are able to time an increased referral offer with an increased welcome offer you can do some serious damage!
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.