NOT Shocking – Amex Is Clawing Back 4X Referral Offer Points
No one loves the clawback quite like Amex RAT loves the clawback. I mean I have a post solely dedicated to Amex clawbacks and shutdowns. That reminds me, time to update that with this latest news.
I have had a few readers reached out to me to let me know that they now had negative Membership Rewards balances. The culprit appears to be the Lowe’s and Home Depot 4X referral offer earnings. If you referred a friend in March, April or the beginning of May there was a chance that you got a boost in earning on top of the normal referral bonus.
Here are the details:
- Refer A Friend to apply by 5/5.
- Once they’re approved, you can earn +4 Membership Rewards® points per dollar on your eligible purchases at the following select U.S. home furnishing stores, on up to $25,000 in combined purchases for three months: Anthropologie – Home & Furniture, Bed Bath & Beyond, CB2, Crate and Barrel, Crate and Kids, The Home Depot, Lowe’s, Terrain, and The Container Store.
This offer was very similar to the personal card offers that added 3X bonus points on ALL purchases after referring a friend. That offer was less prime for a clawback since it worked for everything. That meant that people felt less inclined to game it. They simply shifted their spend over to their Amex cards for everything and racked up the points.
This 4X referral offer was store specific though, which was probably too tempting for some out there. The fact that it was capped at $25,000 might have been another tease you couldn’t resist. If they capped it then they must be less inclined to clawback, think of the Amex Gold 4X grocery spend at $25,000. We saw a ton of clawbacks with the Hilton spending offers last year (they still are for some), but that was an uncapped offer.
It appears that some people messed with the bull got the Amex RAT team horns. If you purchased a lot of gift cards etc. with the offer then you may want to keep an eye on your account. Amex has already started pulling back the Membership Rewards points and I wouldn’t be surprised to see this spread. I feel like many of the stores listed share data with the card issuers so it shouldn’t be difficult for them to track people down.
Let me know in the comments if you have been caught up in the clawback.