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.
A New York frequent flyer who elegantly combines her passions for worldwide travel, running a gazillion marathons all over the globe and staying fit ... without sacrificing her fancy for good wine and food.
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I received an extended payment option, but it doesn’t say anything about 10K points.
since no points were offered, unless you are actually interested in the extended payment option, I wouldn’t accept the offer.
I got this offer on a card a few months ago but my husband’s offer at the same time came with no points. I figured some marketing guru was running an experiment to see whether people sign up with no perks, or if they need the perks to drive the signups.
I called, explained and asked nicely, and got the points on both accounts.
Elaine, you are my hero! Are you home from South Africa?
Yup, just back.
It was absolutely fabulous!