Another credit card deal: 50,000 points $500 spend

[8mpg]

Ok, so some of you think credit cards are crazy and what not but hey... you dont have to do it.

This is a great deal from American Express. Its a CHARGE card (you have to pay it off in full each month). Their offer is 50,000 points if you spend $500 in 3 months. The $175 annual fee is waived for 2 years. You can and should cancel within the 2 years so you dont pay a dime towards fees.

The points are worth $500 in most giftcards that they offer. The Amex Gift card is not a good return valuing it at $250 for 50,000 in points. These points can also transfer to miles with airlines. They do a few bonus offers for transfer to miles. The last one I know of was an extra 40% to British Airways. So 50,000 points becomes 70,000 miles which is just about enough for 2 round trip tickets to Hawaii, or 1 ticket to Asia, etc...


So recap.... spend $500 in 3 months and get a reward for $500 in gift cards, free airfare (minimum 2 round trip tickets on AA in the domestic US/Canada). Depending on the airfare it can be worth $800+. Round trip tickets to Canada can be worth $1200+

Link:

https://www304.americanexpress.com/personal-card-application/premier-rewards-gold-card/40176-270-0-D9BA37665BCAE6B6E856BCB87254D557-10471/0/0/0/n/?om_lid=axp5&om_rid=A1HKws&om_mid=_BNvNrAB8WpWmtV

For all the haters of credit cards, here is an idea of the rewards I will be using probably next year from the offers my fiance and I have signed up for:

3 Citi AA cards for 225,000 miles.
2 British Airways credit cards for 200,000 points
2 Amex Charge cards for 100,000 points

What we are using our miles on:
2 round trip tickets on AA to Las Vegas in June (tickets were running $350 per person)
2 First Class tickets to Asia stopping in Japan, Taiwan (visiting family) then to Hong Kong. This alone is damn near $30,000 in airfare

And we will have 100,000+ miles on AA left over

[71chevellejohn]

Have you actually received your card yet?

The only reason I ask is because mine showed up today. According to the accompanying paperwork, the fee is only waived for the first year. Unfortunately the offer is no longer listed on their site to verify. I just got off the phone with their customer service. They said the only offer they have had with the first two years waived was for recent graduates of Columbia University.

[kingjason]

Yeah Discover sent me something that if I spent 3k a month till like October they would give me 500 cash back. I told my wife not a chance......LOL

[71chevellejohn]

$500 in the first 3 three months is pretty easy to do - Over the last 2 months, I spent probably $2500 in fuel alone - And fuel is double points, so it's win/win. AmEx has a few perks that might actually make it worth keeping.

[347Mike]

Just out of curiousity what does your credit look like after having all of these cards? I did this one but do not feel comfortable with having 8 cards with an annual payment of $80.

Are there any stipulation such as you must keep the card active for x amount of years or no?

[jewozzy]

explain the first class tickets to asia thing. i would be interested in finding a way to get first class tickets to europe and if it meant getting a card and just paying it off at the end of each cycle im down...

[347Mike]

explain the first class tickets to asia thing. i would be interested in finding a way to get first class tickets to europe and if it meant getting a card and just paying it off at the end of each cycle im down...

Airlines use points to get tickets. Depending on if you want to spend more points you can use more to get an upgrade such as first class or business.

[GE]

Nothing like having 10 lines of credit open just to get a pair of airline tickets.

[Ruffdaddy]

Airlines use points to get tickets. Depending on if you want to spend more points you can use more to get an upgrade such as first class or business.

But for American you have to have status to even qualify for upgrades, and bonus points aren't used towards status qualification. So he would need to be at least gold already.

[347Mike]

But for American you have to have status to even qualify for upgrades, and bonus points aren't used towards status qualification. So he would need to be at least gold already.

I misspoke. When I said upgrade I mean pay with more points to get business/first class. So instead of using 15,000 points for coach, he would use 30,000 or more for business/first.

[Binky]

Aint no such thing as free money.

[Ruffdaddy]

I misspoke. When I said upgrade I mean pay with more points to get business/first class. So instead of using 15,000 points for coach, he would use 30,000 or more for business/first.

Thats badass, I didnt know you could do that. I guess I never looked into it. I may do that eventually...Pending I have enough to spend on the destinations and dates im looking at haha.

[347Mike]

Thats badass, I didnt know you could do that. I guess I never looked into it. I may do that eventually...Pending I have enough to spend on the destinations and dates im looking at haha.

I got one a while back for 30,000 points or something with an annual fee of $80 a year with the first year waived. It has a $7,000 limit which is good and every dollar spent I get airline miles. I am not too thrilled about the annual fee but if it means a free ticket every year or two that may cost me 400+ then why not?

[jewozzy]

i dont really mess with credit cards and try to pay mine off every month so i might need to look into the air milage stuff...

[8mpg]

Have you actually received your card yet?

The only reason I ask is because mine showed up today. According to the accompanying paperwork, the fee is only waived for the first year. Unfortunately the offer is no longer listed on their site to verify. I just got off the phone with their customer service. They said the only offer they have had with the first two years waived was for recent graduates of Columbia University.

Call up the 1800 number and speak to Membership Rewards. Tell them you got the offer 5894 and it was 75k miles and 1 year free. THey should be able to switch it to you. Their policy is to give you the best reward at the time. If that code doesnt work, try 5985 which is $1000 in spending for the first 3 months and a year free for 75000 points. I asked nicely and got 5894 without any trouble. BTW... I bought a $500 Visa gift card and a few groceries and got double points. So 1000+75000 for $500 in spending.

Just out of curiousity what does your credit look like after having all of these cards? I did this one but do not feel comfortable with having 8 cards with an annual payment of $80.

Are there any stipulation such as you must keep the card active for x amount of years or no?

I have taken about a 30 point hit in the last few months of credit cards. It will pop back up in 6 months, Im not worried

explain the first class tickets to asia thing. i would be interested in finding a way to get first class tickets to europe and if it meant getting a card and just paying it off at the end of each cycle im down...

100,000 miles goes a long ways on different airlines. Check out flyertalk.com in the miles and points buzz forum. Get ready for a read...there is a TON of info. My fiance and I will use 300,000 miles for first class tickets through Cathay Pacific from LAX. Cathay is a partner for British Airways, Its 150,000 miles round trip on a partner airline for first. I think you can go to South American business class for 80,000.

Nothing like having 10 lines of credit open just to get a pair of airline tickets.

I got 1 Amex and 1 Chase for 175,000 miles..the woman got 1 Chase and 2 Citi AA cards. Not that bad.