Covid-19 has disrupted markets and sent the global economy for a spin. As unemployment rises and uncertainty looms, banks are offering incentives to help customers during these tough times. These include measures like waiving interest and penalties temporarily. On similar lines, American Express is offering customers extra time to meet welcome bonus requirements. As reported in this post, if you sign up for an Amex card, Amex will give you 3 extra months to meet the minimum spend.
AMEX CARD EXTENSION OFFERS
The temporary card application rules show up when you apply for a card on Amex’s website. In short, Amex will offer you 6 instead of the standard 3 months to meet minimum spend for a welcome bonus. If you’re looking to apply for a card, then now is a good time. Chase is also offering similar extensions, but their policy isn’t as generous as Amex’s. Here’s how the temporary policy shows up on Amex’s website.
While this is a great option, please note that other welcome bonus restrictions like the ‘once in a lifetime’ rule still apply. Here’s the full text of the note by Amex.
A Note on Welcome OffersDue to the impact of COVID-19, for eligible Card accounts approved from December 1, 2019 through May 31, 2020 for which you are eligible for a welcome offer, the period to make eligible purchases to earn your welcome bonus will be extended for an additional 3 months. Eligible Cards are U.S. Consumer and Business Cards issued by American Express National Bank to a Basic Card Member.
AMEX WELCOME BONUSES
Which card should you get then? I usually bank my points to flexible points currencies like Membership Rewards points and Ultimate Rewards points. Here are a few bonuses that might interest you. Please note that if these bonuses don’t show up immediately, you may need to copy and open the link in incognito or private browsing mode.
|Personal Platinum Card||75,000 Membership Rewards Points|
|Business Platinum Card||85,000 Membership Rewards Points|
|Personal Amex Gold Card||50,000 Membership Rewards Points|
|Business Gold Card||50,000 Membership Rewards Points|
|Amex Green Card||45,000 Membership Rewards Points|
|Business Green Rewards Card||25,000 Membership Rewards Points|
|Amex EveryDay Preferred Card||30,000 Membership Rewards Points|
|Marriott Bonvoy Brilliant Card||75,000 Marriott Bonvoy Points|
|Marriott Bonvoy Business Card||75,000 Marriott Bonvoy Points|
|Hilton Honors Business Card||125,000 Hilton Honors Points|
|HIlton Honors Card||95,000 Hilton Honors Points|
|HIlton Aspire Card||150,000 Hilton Honors Points|
|Hilton Honors Surpass Card||140,000 Hilton Honors Points|
THE PUNDIT’S MANTRA
If you’re looking to sign up for a card, then today is the last day to get a card with these relaxed restrictions. What’s great about this is that you simply have to apply. As per Amex’s FAQs, you’ll still get the 3 month extension even if Amex approves you after May 31. Also, this extension applies to upgrade offers on Amex’s cards.
If I apply by May 31, 2020, but my application isn’t approved immediately and is approved on or after June 1, 2020, will I be still be eligible?
Yes, you will be eligible for a 3-month extension if you apply by May 31, 2020 and are subsequently approved.
If you’re looking to get a card, now could be a good time as you’ll get some additional time to meet minimum spend. The extra 3 months could be very useful if you’re looking to make multiple card applications at the same time.
Which was the most recent Amex card that you recently signed up for? Let us know in the comments section.