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If you travel, American Express Membership Reward points have value. They used to be easier to amass – but now American Express is limiting credit card bonuses to once in a lifetime (per card) and other methods for generating points have also been increasingly restricted. That’s why seeking out or being on the lookout for special bonus offers is more important now than ever (On a related matter, if you are looking for how to find the best American Express signup offers for new cards, see this post by Frequent Miler).
Some valuable ways to get bonus points on an existing American Express card, are special offers for referrals (e.g., your friend signs up for an Amex card, you get 5,000 bonus points) or adding authorized users to your Amex card (e.g., add mom, get 5,000 bonus points). These offers can be targeted or general, but they are usually limited in time (e.g., offer good through X date).
Another offer that comes around from time to time, is bonus points for signing up for an Extended Payment Option. Most American Express cards are charge cards (as opposed to credit cards) and thus all charges must be paid in full each month.
If you are given the option to add the Extended Payment Option, and you do so, you then have the choice (but not the obligation) to pay eligible balances (over $100) over time with interest.
This week, I received an email from American Express inviting me to enroll my Business Gold Rewards American Express Card in the Extended Payment Option by 11/1/16, in return for which I will receive 10,000 Membership Rewards® points:
… make large purchases or expand your marketing budget by simply using your Card. All eligible purchases of $100 or more will be automatically included in your Pay Over Time balance each month when you enroll your Card. You only pay interest on balances you choose to pay over time. The APR is Prime Rate plus 14.99%, currently 18.49%.
This was the easiest 10,000 points ever! Now I can pay over time, but I probably will continue to pay the charges on my card each month just as I always have done.
This is a great targeted offer! Check your emails to see if you’ve also been invited to enroll one of your Amex cards in the Extended Payment Option.
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.