Over the last couple of weeks, we’ve seen some exciting new welcome bonus offers on many credit cards. While that’s great, we also saw a few data points about Amex closing customer accounts for abusing certain credit card bonus offers. That and more as we wrap up the stories of this week.
Amex closing customer accounts for abusing certain credit card offers
As per a few data points on Reddit, Amex is closing accounts of customers who seemed to have signed up and received credit card welcome bonuses that weren’t meant for them. Given this latest wave of account closures, it’d definitely be wise to tread carefully with Amex and read the fine print.
Limited time Amex transfer bonuses ending soon
Currently, Amex is offering limited time transfer bonuses. When you transfer Membership Rewards points to Hilton Honors or Marriott, you’ll get bonus points in addition to the usual points transfer ratio. Read this post to find out if this is a good deal for you given the current global situation with travel.
Why banks could make card approvals tougher again
Some interesting data from FICO provides a ray of hope. However, I argue that all may not be hunky dory. If a stimulus deal isn’t reached soon, things could go south again. Another economic dip would only impact credit card approvals and offers negatively.
Offer Ending Soon
If you’re looking to get a credit card soon and are eligible, then don’t forget that this limited time offer ends soon on November 8. The Chase Sapphire Preferred card is currently offering a welcome bonus if 80,000 points. You’ll earn 80,000 Ultimate Rewards points after you spend $4,000 in the first three months.
On the business side, the Chase Ink Business Preferred (not my referral link) is currently offering a limited time offer of 100,000 points. You’ll earn a welcome bonus of 100,000 Ultimate Rewards points after you spend $15,000 in the first 3 months.
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The Points Pundit loves these newly relaunched Chase credit cards – The Chase Freedom Flex and the Chase Freedom Unlimited!
Firstly, they offer you a 0% APR for the first 15 months.
Secondly, they have no annual fee and have a lucrative welcome bonus of $200 or 20,000 Ultimate Rewards points after you spend $500 in the first 3 months.
Moreover, you can earn up to 60,000 Ultimate Rewards bonus points in the first year if you maximize the bonus points categories.
They’re packed with brand new benefits and bonus points categories.
Overall, a great option to carry in your wallet for everyday spend!
(Chase’s 5/24 rule may apply to these cards)
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Disclosure: The Points Pundit receives NO compensation from credit card affiliate partnerships. Support the blog by applying for a card through my personal referral links. This article is meant for information purposes only and doesn’t constitute personal finance, health or investment advice. Please consult a licensed professional for advice pertaining to your situation.
