Category: Credit Cards

Introduction

Nearly every forum and chat room that I read regularly had a mini-freakout at least once and probably a dozen times between mid-last week and yesterday. The issue? American Express Membership Rewards transactions have been failing all over the place for some card holders, and the primary concern for some is that shenanigans are catching up with them. Sample failures:

  • Schwab cash out: ❌
  • Morgan Stanley cash out: ❌
  • Transferring to Delta, Hilton, or FlyingBlue: ❌

That said, sign-up bonuses, authorized user bonuses, and normal spend rewards have all been posting without issue according to all reports.

History and Data Points

My personal opinion is that we’re seeing bugs in American Express’s system and it’ll all be corrected in a week or two. What leads me to that conclusion?

  • Multiple reports of issues for accounts with plenty of gaming
  • Multiple reports of issues for accounts without any gaming
  • Multiple reports of successes for accounts with plenty of gaming
  • Different error messages on different days
  • American Express bans have always been nearly instant, with your first warning being a notification that your card was removed from Apple Pay followed by a nasty banner when you try and log in to the website
  • Schwab cash-outs go offline nearly monthly
  • Customer service reps aren’t seeing any flags, locks, or holds on affected accounts

There was also an infamous period in the height of COVID lockdowns in 2020 during which Invest with Rewards was offline for many for over a month, so, they’re not exactly batting a thousand with the Membership Rewards system.

The Advice You Didn’t Ask For

Where does the beer come in? I’m going to borrow advice that C F Frost gave yesterday on what to do: Grab a beer and relax while this plays out, we’ll know more in a few weeks.

Cheers!

Based on the conversations I had yesterday, maybe a beer this size is in order for a couple of you?

Reader Jacob surfaced a few “to the moon” Hilton credit card bonuses late last week, and as far as I can tell they’re bigger and better than anything else available through referral, affiliate link, or direct application. The links appear on the hotel internet captive portal for guests staying at Hilton Homewood Suites (and possibly other Hilton properties), and fortunately they work outside of Hilton internet too:

  1. The Hilton Surpass card has two free night certificates after $3,000 in spend in three months. These certificates are valid at any property with standard awards, even properties that are 150,000 points per night. At the right property this is effectively a 300,000 HHonors points bonus, other than that certificates expire in 12 months and the points wouldn’t expire while you hold the card. The annual fee is $95.
  2. The Hilton Aspire card has 150,000 points and a free night certificate after $4,000 in spend in three months. This free night certificate is also valid at any property with standard awards, and is the same one that comes with other versions of this card’s sign-up bonus. The annual fee on this one is $450.
  3. The Hilton Business card has 180,000 points after $10,000 in spend in three months. All versions of this card also award free night certificates after $15,000 and $60,000 in spend per year. The annual fee is $95.

In theory the credit card limit with American Express is five (or six) per cardholder. But it’s possible that those limits aren’t enforced for everyone right now just like the charge card limit.

Happy Monday!

AmEx’s concept card design for the new HHonors cards proves that marketing spent too much time on /r/WSB.

  1. Staples has fee free Visa gift cards for sale starting on Sunday and running through the following Saturday, limit five per transaction. As usual, try for back-to-back transactions to minimize your time getting to Staples stores.

    These are Metabank gift cards, and yes, there are ways to liquidate them both online and in-person. (For example, the high fee BravoPay/Famigo.)

  2. Lowe’s has an offer for a free $15 Lowe’s gift card with the purchase of a $200 Visa gift card, delivered via email, running through Wednesday of next week. The “Everywhere” variety of cards are eligible too. To maximize the deal:

    – You can buy multiple cards in a single transaction and still be eligible for the rebate
    – There is a limit of two $15 cards per email address, but you have multiple email addresses, right?
    – Look for a gift card buyer offering at least 86% on small denomination Lowe’s gift cards
    – Be sure to link your cards to your JetBlue ShopTrue account to earn 3x JetBlue miles on the purchase

    These are also Metabanks.

  3. Delta’s AmEx card landing page has some great offers that are now widely targeted (and note that while not always the case, Delta cards are typically eligible for a bonus multiple times with or without no-lifetime language. AmEx will give you a popup letting you know you’re not eligible before your final submit regardless of the language of the offer):

    – Delta Gold Personal 70,000 SkyMiles + $200 statement credit after $2,000 in spend, annual fee waived the first year
    – Delta Platinum Personal 90,000 SkyMiles + $200 statement credit after $3,000 in spend
    – Delta Reserve Personal 80,000 SkyMiles + $200 statement credit after $5,000 in spend
    – Delta Gold Business 75,000 SkyMiles + $200 statement credit after $4,000 in spend, annual fee waived the first year
    – Delta Platinum Business 95,000 SkyMiles + $200 statement credit after $5,000 in spend
    – Delta Reserve Business 85,000 SkyMiles + $200 statement credit after $6,000 in spend

    Note that only spend on the on the Platinum and Reserve flavors counts toward Delta’s spend waiver for elite status. (Thanks to DoC)

  4. Simon Mall has 60% off purchase fees for Visa and Mastercard gift cards of up to $1,000 face value through tomorrow evening. Use promo code JUN22FLASH60.

    Need I say it? Sigh, these are Metabanks. (Thanks to Stephen at FM)

  5. Last year the weekly hotness was an office supply store running a fee-free promotion effectively every week. This year the new hotness is Kroger running a 4x fuel sale on third party gift cards effectively every week, this time through June 21.

    Apparently Kroger is also running a 4x fuel sale for every weekend in June, and in the past magical things happened when a weekend and a weekly fuel points promotion overlapped. My suggestion is that you go experiment this weekend and see what voodoo you can conjure with Kroger fuel points.

Have a nice weekend!

Before Kroger’s IT team coded up their fuel points rewards system they rode this thing, which should explain a lot.

Several months ago an astute reader (MattyB) let me know that the Morgan Stanley no-annual fee American Express card, a Miles Earn and Burn Unsung Hero, had vanished and links to the application led to a garbage page.

The card was great because:

  • It had no annual fee
  • It allowed you to deposit Membership Rewards to a Morgan Stanley account at 1.0 cents per point
  • It had bonus categories for spend

I’ve tried unsuccessfully to find zombie links to the card, and I’ve asked American Express directly about the card. I was told it’s now end-of-life and that if you didn’t get it before you’re out of luck. They do have a replacement product in its place though, the Morgan Stanley Blue Cash Preferred, which carries a $95 annual fee that can turn into a -$5 annual fee with spend. The interesting attributes:

  • $300 sign-up bonus
  • Waived annual fee the first year
  • $100 statement credit after spending $15,000 in a calendar year
  • 6% back on grocery stores up to $6,500 in spend per calendar year

Notably though, this card does not allow you to cash out Membership Rewards, so it’s really just a co-brand with no direct benefits from the co-brand. If you spent exactly $15,000 in a calendar year with at least $6,500 at grocery stores, you’d get $575 back including the statement credit which makes it a 3.8% cash back card averaged over the total spend for a $95 annual fee. Worth it? I guess, but it’s not exciting.

One of the best direct cash out for Membership Rewards is now gone, but there are still other options.

Chase’s Jamie Dimon mocks the lack-luster offerings of a competitor’s credit card offerings with a “good job, kid!”

  1. Southwest has a 40% off sale for travel between August 16 and November 5, you must book by tomorrow and use code FALL40 for the discount. A few notes:

    – Hawaii, Puerto Rico, and several International destinations are included in this sale
    – This offer applies to paid fares and points fares (thanks to Dave for the correction)
    – If you’ve already booked travel during that time, consider rebooking
    – Southwest hasn’t made its schedule changes for September and beyond yet (so maybe booking a cheap flight ± two weeks of your actual desired flight is a good idea)

    What’s the catch? You’ll be flying on Southwest.

  2. Vinh at Miles Per Day was able to get a 12th AmEx Charge card. I currently have 11 and lobbed in an application for a Business Gold card which would make 12 total charge cards for me. (Remember, there’s zero downside to applying for AmEx business card because you won’t have a hard pull as an existing cardholder, you won’t have a new card show up on your credit report if you’re approved, and AmEx doesn’t put you in a penalty box if you’re denied.)

    I tried getting a 12th in early May and I was denied instantly, but this time my application went pending which is a good sign. Here are current no-lifetime language (NLL) links in case you want to try your luck too:

    – Business Gold: 90,000 Membership Rewards for $10,000 spend plus another 10,000 for $1,000 spend on an employee card
    – Business Platinum: 150,000 Membership Rewards for $15,000 spend plus another 10,000 for $1,000 spend on an employee card

  3. Check for a targeted offer from Citi for a spending bonus on your Custom Cash rewards card. This one gives +4x on up to $2,500 in spend at grocery and gas, or for hardware and home improvement. You have to click the link in the email to activate the account.

Happy Wednesday!

American Express’s backend approval standards team designs a futuristic restroom.

I’m not here to sell you credit cards and I don’t get anything when you are approved for a credit card that I recommended (except possibly an over-inflated sense of self worth), so I guess keep that in mind? Here are a couple:

  1. The American Express Personal Gold card with a heightened sign-up bonus that expires tomorrow for:

    – 90,000 Membership Rewards after $4,000 in spend within 6 months
    – 20% back up to $250 in restaurant spend (normally easy to MS, but currently a tad harder)

    This card has a $250 annual fee and offers 4x at grocery stores for up to $25,000 in spend yearly, along with some annoying Uber and dining credits too. There is a direct link for the application, but if you can use a referral link — most of those have the offer available and the referrer gets between 10,000 and 30,000 Membership Rewards for referring.

    I would have 20 of these cards purely for annual grocery spend if I could, the other benefits are just gravy. If you want to be cheeky by the way, ask AmEx for a retention offer a couple of months after opening the card and you’ll probably get it as a secondary sign-up bonus.

  2. The Marriott Bonvoy Boundless card with a heightened sign-up bonus of:

    – Five free night certificates for up to 50,000 points a night, expiring in 12 months

    Watch out with Marriott though. You’ll find that many properties creep above 50,000 points on weekends, you’ll probably end up paying for parking, you may end up with a resort fee, and you may end up #bonvoyed with a room over a 110 dB fan. This card is also subject to Chase’s 5/24 rule, so there’s that.

    This one has $95 annual fee, but with the added parking and resort fees you’ll probably be paying I’d just say that the annual fee is more like $350 after redemption and I’d make sure to cancel it exactly a year after opening.

At least the Fairfield Inn & Suites Lubbock, TX is always less than 50,000 points and offers this gorgeous view from the fourth floor.

American Express continues to dominate the news this week, and it continues to be great for us too. Forget Delta, AmEx is the one that #keepsclimbing

  1. I received a physical mailer for 20,000 Membership Rewards points for adding an authorized user card to an American Express Platinum and spending $2,000 on the new card in six months. The link is generic and widely targeted, so log-in to your American Express account then check here to see if you’re eligible.

    This offer’s POID is GGQ1:0002, which is significant because different POIDs are separate, unique offers. You’re unable to take advantage of the same POID multiple times typically.

  2. I’ve gotten reports from several readers that American Express is sending offers for new, no-lifetime language (NLL) Business Platinum cards via email. This offer is 150,000 Membership Rewards after spending $15,000 in the first three months. Check your inbox for email from AmEx mentioning “150,000 Membership Rewards” in the subject line to see if you’re eligible, and remember that the limit on American Express charge cards is 10 or 11 for most people, so if you’ve “only” got four of them, why not go for a fifth?

    According to DoC, some of these offers also have a bonus 10,000 points for adding an employee card during sign-up too.

  3. Qatar airways has a 40% transfer bonus for incoming bank rewards points through June 30, and that’s even more interesting because Qatar now uses Avios and Avois can be freely transferred between participating carriers. For US issued cards, your best (only?) bet is to transfer Citi ThankYou Points. The bonus could take up to 45 days after transfer, so don’t count on them right away.

    The best use of these for my patterns are to transfer to BA Avios for AA/AS domestic flights or Iberia Avios for International flights with lower fuel surcharges. (Thanks to rockyqintou)

  4. I wouldn’t bother talking about the American Express’s minor changes to their $10 monthly Gold dining credit partners, except that wine.com is now an option. That’s interesting because wine.com sells gift cards so you can liquidate the credit from home, though the smallest they sell is $25. With resale rates for that brand hovering around 83%, you’ll net $5.75 for your $10 credit each month, for each gold card, from home.
  5. Chase has two transfer bonuses for Ultimate Rewards running through July 31:

    – 30% to British Airways (don’t do this, do #3 instead)
    – 50% to Marriott (don’t do this, do Hyatt instead. Or, just stick a fork in your eye to save Marriott the trouble of doing it for you)

Have a nice weekend!

My wish for the weekend.

By most objective measures, 2021 and 2022 have been the best years of American Express for churners, culminating with offers for adding up to 99 employee cards with $19,800 in statement credits or 1,980,000 Membership Rewards for each business card you hold.

Since April though we’ve seen a gradual sunset in AmEx’s reign; some cards have lost these offers entirely and others have seen them cut to a level that just isn’t terribly interesting. There are still three cards with good offers though:

  • Hilton Business
  • Marriott Business
  • Lowe’s Business

Each has a $200 statement credit after $2,000 in spend when adding an employee card with a limit of five cards or $1,000 in statement credits per batch.

There’s another catch on these offers too: you can’t add 99 employee cards at the same time, instead you’re limited to five. But either due to a poorly thought out backend-logic system or some other oversight, the offers usually reappear for another batch of five. AmEx continues to award bonuses for new batches, so it’s still possible to get to 99 statement credits with some persistence.

To get these offers you’ve got to call American Express and ask “Are there any offers for adding employee cards to this account?” Because I guess you’re supposed to know that’s a thing and do it regularly, duh.

American Express’s business logic, as plumbing.