Amex Offering high-bonus, cost-free new accounts to existing cardholders

Amex Offering high-bonus, cost-free new accounts to existing cardholders
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#1

American Express is still hurting for charge volume in the wake of their loss of the Costco account last year.

One happy consequence: they are offering many current customers promotional offers to open new accounts with them, often on very favorable terms.

For example, I have a well-used Business Platinum account, which will receive the excellent 50% Membership Reward rebate on booked flights until next February. Just last month, an offer appeared under “Amex Offers” to open a Preferred Rewards Gold card with double the usual bonus: 50K MR points instead of the usual 25K. Beyond that, there was no new credit inquiry pulled.

Since personal (as well as business) Amex charge, cards have not reporting on my credit report, and since there is no limit on the number of Amex charge cards (unlike the Amex credit card limit of 4-5), this amounts to a cost-free new card. No annual fee for the first year, and the bonus alone will score $1,000+ in airfare on my preferred airline.

Obviously, YMMV. But I now my case isn’t an isolated one.

What other similar offers have you seen lately? And how are you leveraging them with other Amex products?


American Express Charge Cards - Perks, Costs, and Authorized Users
#2

I’m calling to cancel that exact card (Business Platinum) and will use the loss of 50% as the reason why. I’m hoping to get a nice retention offer and keep the card, but I’m fine letting it go if needed.


#3

Good luck Stubtify, let us know how it goes.

I do have to amend a point in the OP. I did have a AU for a personal platinum get it reported to his credit this week–first time in awhile.

Still no data points showing these new targeted offers get reported,though.


#4

I have received similar experience myself.

  1. Gold Biz - 75k points with 5k spend. Done
  2. Gold Premier Rewards - 50k points with 2k spend. Almost completed.

No credit hits either and annual fee waived for the first year.


#5

so what if you don’t do travel? haven’t seen much in just plain MR or cash.