American Express Membership Rewards points are some of the best rewards you can earn because they're flexible - you can use them for travel, gift cards, or statement credits, among other things.
Amex cards that earn Membership Rewards include:
Each card offers a unique set of bonuses and benefits depending on how you spend and travel.
While Amex's rewards program has a lot of flexibility, that doesn't mean all redemption options get the same cents per point value.
Let's start with the worst ways to use your Amex points.
Amex has a shopping portal with many products you can buy with Membership Rewards points. While this is a versatile way to use your points, it doesn't have a high redemption value.
For 10,000 points, you'll only get a value of 0.5 CPP— which is not the best value for Amex points.
If you're set on using points for merchandise, you might be better off buying a gift card or going through a shopping partner like Amazon.
Amex has a ton of airline transfer partners that you can transfer your points straight to.
Most partners offer a 1-to-1 transfer rate, so if you transfer 1,000 points to them, they will give you 1,000 points back. Sometimes, American Express runs promotions for transfer partners where you can get a better rate.
One thing to keep in mind here is the Excise Tax Offset Fee.
In most cases, American Express charges an excise fee of 0.06 cents per point (capped at $99 for any single transfer) when you transfer points to U.S. airlines with a card such as The Platinum Card®.
American Express's U.S. airline partners that charge an excise fee include:
On a 100,000-point transfer, that fee equates to $60. In addition to these charges, the airline may also charge taxes and fees.
However, not all partners charge this fee. Some of the airline programs where you can transfer Membership Rewards points without paying any fees include:
Since these are points from airlines outside the United States, American Express won't charge you the Excise Tax Offset fee to transfer points into these programs, although you need to evaluate their value (Note: some of them are hard to redeem points from). Transferring points to their hotel partners will also be free of charge.
Unfortunately, the only way to transfer points to your Delta SkyMiles account is through AMEX, so be prepared to pay the fee to utilize them.
To get the best redemption rates, you need to do a lot of research before you transfer your points.
If you don't want to pay your card bill, you can redeem your points for statement credits, effectively wiping out any purchases you made with the card. While this option is handy, it also isn't recommended.
However, if you're in a pinch, this can help.
It's best used as a last resort if you need some last-minute funds to cover your balance. But each point will only be worth 0.6 CPP. So the low value makes it not a great option.
We'll talk about other setups later in this post if you're after cash.
With JustGiving, you can donate your points to over 1.5 million charities. Unless you can redeem your points for travel, you'll likely get no more than 0.7 cents per point from this redemption option.
The points aren't the greatest value for your money, but if you don't need your points, this is a decent option.
Beware of the value change, though. Depending on the organization, the value of your points may vary, so pay attention.
Doing the math can help you make a bigger impact.
With American Express Travel, you can book all kinds of travel, including hotels, vacation packages, and cruises.
If you book travel through the American Express Travel portal (excluding airfare), you will only earn 0.7 CPP. In addition, considering other companies will give you 1 CPP, booking your travel using the Amex Travel portal may not be the best way to spend your Amex points.
Keep in mind that using the Amex Travel Portal is NOT the same as using a transfer partner.
Similar to option 1, you can use your points to spend with certain merchants.
The cents per point come out to 0.7 mostly, except for NYC Taxis and Ticketmaster.com. Those have different point-to-cent ratios, so check the redemption rate before redeeming, as redemption rates may vary from retailer to retailer.
You also need to be careful because some platforms like Amazon can automatically fill in that you're using M.R. points when you check out.
If you want to use your points for shopping, there are probably better options in this list.
This option is new for 2022.
If you have a business checking account with Amex, you can redeem your points for cash. You'll get 0.8 CPP, so 10,000 points would come out to $800. These points are considered rebates instead of income, so you're not taxed on them.
So if you have a lot of points, cashing out your business checking account through your Business Platinum might be a better option. (More about this below)
Gift cards come in different types, and your redemption value varies. Then again, there are many 1 CPP options with less variance, which is not too bad.
It may not be the best redemption method for your Amex points because it has additional hoops to jump through.
With Upgrade with Points, you can bid on seat upgrades at over 20 participating airlines using your Membership Rewards points. This is a convenient option if you are worried about cramped seats on long flights.
It might make more sense to upgrade your seat with the actual card and earn more points because there are higher-value options to redeem your points. However, membership rewards here are worth at least 1 CPP depending on how you use them.
If you value your seat on the plane, you might like this option.
This is a great option for the avid traveler.
Compared to other companies, you can get a decent rate on your points. You can expect to redeem 1 CPP with flights and hotels if you book it through the Amex Portal.
But if you have the Chase Sapphire Reserve, you could get 1.5 CPP when you book through their own portal.
With this option, you can get an elevated value for your points, whether it is flights, and pay yourself back.
This is a better option than the 7th option mentioned above.
Instead of $800 per 100,000 points, you can get a better rate of 1 CPP. That comes out to $1,000 per 100,000 points. You must have the Amex Business Platinum card, though.
If you run a large business, that might be enough to offset the annual fee, but you still need to do the math.
If you own a Morgan Stanley brokerage account, this might be useful.
It's similar to a business checking account using your business platinum but on a more personal card side.
If you own the Platinum Card from American Express Morgan Stanley edition, you can cash out your points to your brokerage account at 1 CPP.
The points can be cashed out anywhere once they reach your brokerage account.
Though, you might want to consider these things first before you use this option:
I made a blog post about this before and how to waive the annual fee. You can learn more about it here: https://www.asksebby.com/guides/waive-amex-platinum-annual-fee
You can transfer M.R. points at 1.1 CPP to your brokerage account with the Platinum Card from American Express Charles Schwab. So if you're looking to redeem for cash, this might be the best option.
However, as with any other Amex Platinum cards, there are a few things you need to consider:
If you have a Business Gold, you can get a 25% rebate when you book an eligible flight.
So, if you use 100,000 points to cover a $1,000 flight, you'll get 25,000 points back. That means you used only 75,000 points for a $1,000 purchase, which works out to a rate of 1.33 CPP.
The maximum rebate is 250,000 points, so you wouldn't want to redeem more than 1 million.
Platinum Business cardholders can redeem M.R. points for travel and get a 35% rebate when they use their card for either first class or business class travel or flights with the airline of their choice (via the travel incidental credit).
That means if you spend 100,000 points for a $1,000 flight, you'll get 35,000 points back. Considering the 35% points rebate, the effective value is 1.54 CPP.
This is your best bet if you're looking for a simple travel redemption. The maximum rebate here is 1 million points per year, so you wouldn't want to redeem more than 2.85 million.
This is the same for the two previous options, but even better!
You can redeem your points with Business Centurion for a 50% rebate. As you know, spending 100,000 points for a $1,000 flight would get you 50,000 points back.
With the rebate, you can effectively get 2 CPP, the highest rate we've discussed.
On top of that, there is no maximum rebate. However, the personal Centurion card does not offer flight rebates.
Finally, you can transfer your points to American Express airline and hotel partners.
The rate here can be up to 10 CPP, but it can generally fluctuate or come out to about 2 or 3 CPP when you get through all the transferring. There are a lot of nuances to this one.
But for avid travelers, this might be a decent option for you.
American Express points can be redeemed in many ways, so it's important to know which one gives you the most value.
While you can use them for merchandise or shopping with Amazon, they don't provide good value.
Most people will get the best value from their points by transferring them to airline or hotel partners or using your Amex business card.
Watch this video to find out how to get the most out of your Amex points:
Starting May 31, 2020, Chase added a new temporary benefit for Chase Sapphire Preferred® Card and Chase Sapphire Reserve® members to “Pay Yourself Back.”
Note: The “Pay Yourself Back” feature is not available to the no annual fee Chase Sapphire card.
The Pay Yourself Back Program lets Chase Sapphire Preferred and Sapphire Reserve cardholders redeem Ultimate Rewards to offset select category purchases at a favorable rate.
Pay Yourself Back Categories:
The current promotion is valid through September 30, 2020, but it’s possible that it may be extended due to uncertain times.
[ March 30 Update ] Pay Yourself Back is extended until Sept 30, 2021.
Sign into your online Chase account and navigate to the Ultimate Rewards tab located on the bottom of the left column.
Select the card you’d like to access. If you have multiple Ultimate Reward earning cards, you can choose to pool points to the Sapphire card to redeem.
In our example, we choose the Chase Sapphire Reserve.
Navigate to the left hand column and select the “Pay Yourself Back” menu item. Clicking the main promotional banner also works, as seen in the screenshot below.
The current categories for pay yourself back are: restaurant and grocery stores (including take out and eligible delivery services), home improvement stores, and select charitable organizations.
After each purChase posts, you have 90 days to pay yourself back. Check the respective box to select the purChase.
Enter the dollar amount you’d like to receive as a statement credit by using some or all of your available Ultimate Rewards points. The Chase Sapphire Preferred redemption rate is 1.25 cents per point, and the Sapphire Reserve is 1.50 cents per point.
After setting the cash value, click “Confirm & Submit” to redeem!
One of the main benefits of Chase Ultimate Rewards points is that you can transfer them out to partners if you have the Chase Sapphire Preferred, Chase Sapphire Reserve, or the Chase Ink Preferred.
You can view credit card offers by going to the "Credit Card Offers" tab. Find offers for the respective cards in "Travel Rewards Credit Cards" and "Business Credit Cards." You don't have to use our links, but we're grateful when you do. Thank you for supporting AskSebby!
Chase Ultimate Rewards transfer at a rate of 1:1. On average, you can get up to two cents per point when you use transfer partners.
If you're looking for the most value possible, then airline partners are the way to go for first class redemption. This also works well for last minute flights.
The way I redeem points for "best value" is hotels because everyone in your travel group can benefit.
For example, if I transfer my Ultimate Rewards points to United:
On the other hand, if I transferred my Ultimate Rewards points to Hyatt:
For the cost of a round trip United Polaris flight to Asia, I can get four nights at a top tier Hyatt property.
Examples:
IHG is not an ideal transfer partner because of the cost of the points, and you typically need more points for a redemption.
In my experience, Hyatt has the best redemption value for transfer partners. The Category 1 Hyatt properties start at 5,000 Hyatt points.
Category 1 = 5,000 Hyatt points / 5,000 Chase UR points
Check out the video below for more redemption ideas.
Have you ever applied for a credit card only to be told you don’t qualify? It can be frustrating, especially if you’re not sure why. That’s where CardMatch comes in.
CardMatch is a tool offered by CreditCards.com that helps you to match yourself with credit card offers from multiple issuers based on your credit profile. It’s quick, easy, and, best of all, free!
CardMatch is a tool that allows you to compare credit card offers from multiple issuers in one place. All you need to do is provide some basic information about yourself, including:
From there, CardMatch will generate a list of pre-approved and special offers tailored specifically for you in less than 60 seconds.
One of the best things about CardMarch is that it’s completely free to use. There’s no obligation to apply for any of the cards you’re presented with, so you can shop around without worrying about damaging your credit score.
Note that since these are targeted offers, not everyone will have the same results. CardMatch may also not have all cards currently available on the market.
The Chase Ultimate Rewards® ecosystem may be one of your best options if you like to travel. Besides being versatile, Chase points are valuable if you know how to optimize them.
One massive benefit of the Chase system is that you can stack Chase points easily with Chase's Ultimate Rewards-earning credit cards.
The Chase Ultimate Rewards program has plenty of redemptions for any budget, whether you're looking for luxury experiences or a low-cost flight.
This blog post looks at the best and worst ways to use your Chase Ultimate Rewards points. But before we get started, let's talk about the basics.
Chase Ultimate Rewards® is a points program where you can earn and redeem points. The cards that earn UR points include:
Although the Chase Freedom Flex, Chase Freedom Unlimited, Ink Cash, and Ink Unlimited cards are marketed as cash back, they earn Chase Ultimate Rewards.
Throughout this guide, you'll also notice the term cents-per-point (CPP), which is what each point would cost if we paid cash for the redemption.
So if 1.5 CPP means each point is worth $0.015, then: 10,000 UR points = 10,000 * 0.015 = $150
One major exception to transferring Ultimate Rewards between UR earning card accounts is the Ink Business Premier credit card.
Although the Ink Business Premier earns cash back in the form of Ultimate Rewards, you cannot transfer or combine points to other UR accounts.
As long as you have a Chase Ultimate Rewards earning credit card open, your Ultimate Rewards points won't expire. Any points you have left will be lost if you close the card. You shouldn't cancel your credit card before redeeming or transferring your rewards.
You'll also lose your points if Chase closes your account. Even though credit card companies can close an account anytime, it rarely happens. You're most likely to get your card canceled if:
Here's a simple step-by-step process to combine your points:
1. Log in to your account and click on the "Earn/Use" tab.
2. Select one of the cards that earn Ultimate Rewards points (refer to the card list above).
3. Hover over your points balance and hit "Redeem."
4. Once you're in the portal, click the top bar again to reveal the "Combine Points" icon in the menu.
5. Click the Combine Points option. From there, follow the prompts to combine points with your card.
Chase Ultimate Rewards are flexible and can be redeemed in various ways, including gift cards, statement credits, and travel. Keep in mind that the cents per point valuation vary with each redemption method. Here are the best and worst ways to use Ultimate Rewards.
First, let's look at the worst ways you can use your points.
You can sometimes use your Chase Ultimate Rewards points to purchase items at Amazon and other online merchants rather than using your credit card balance.
Although it's convenient, you lose the overall point value with this option. Furthermore, using points to shop on Amazon or with PayPal will only earn you 0.8 CPP.
Let's say you used 100,000 UR points; that's: 100,000 UR points * 0.8 CPP = $800 in value
With this value, I'd say this is not worth it in any situation.
Chase also offers gift cards as redemption options. When you take this route, you'll normally receive 1 CPP. That means 100,000 UR = $1,000 in gift cards.
There are even times when Chase offers gift cards with better value for specific retailers, but I would still skip this option.
You can use Chase Dining points for Sapphire Private Dining series events, takeout, outdoor seating reservations, and more.
Here, you're going to get 1 CPP. So: 100,000 UR * 1 CPP = $1,000 in dining
Redeeming points for Chase Dining points gets a similar value as redeeming for gift cards, so it's still not the ideal method.
There is a huge exception to this, though, if you have the Chase Sapphire Reserve and the Chase Sapphire Preferred cards. With these cards in your arsenal, you can technically get more value.
You might find getting free Apple products through your credit card points very appealing. But, the same with methods #2 & #3, the 1 CPP redemption value isn't great.
If you do the math: 100,000 UR * 1 CPP = $1,000 in Apple products
It would be a good idea to wait for a promotion if you're interested in using your Ultimate Rewards points for Apple Store purchases.
This redemption option will get you 1 CPP, equivalent to $1,000 in travel value.
If you're looking to book a first-class flight or an expensive luxury hotel, Chase's travel portal usually gives you the best deal, while transferring Ultimate Rewards points typically saves you money.
I'd say that redeeming your UR points for cash back is a good option. If you want to use your points for cash back, there are two ways to do this:
Both methods will get you 1 CPP, which means: 100,000 UR points * 1 CPP = $1,000 in cash/statement credit
Cash back is more ideal than buying gift cards since you aren't limited to select stores.
The great thing about Chase is its cash-out rate floor value. While Chase isn't for everyone, there are three reasons I recommend it:
As mentioned earlier, Chase Apple Store promos are a good time to use your Ultimate Rewards points. For Apple enthusiasts, this is good news!
Until Nov. 30, 2022, Chase cardholders can get an extra discount when redeeming points for Apple products through Chase Ultimate Rewards®. This promo will make your points worth 10%, 25%, or 50% more, depending on which card you have.
For example, if we use the 10% promo, that will be equivalent to 1.1 CPP. This means: 100,000 UR * 1.1 CPP = $1,100 in Apple products
This is the same concept as method #7. The best time to redeem gift cards is during a sale. With this, you're going to have a cent per point of 1.11.
In other words: 100,000 UR * 1.1 CPP = $1,111 in gift cards
While this sounds great and looks like a good deal, make sure you're using your points for something worthwhile. Don't be tempted to get a gift card just because it's on sale.
If you want simplicity or are a rookie with credit cards, Chase has partnered with Expedia to run a search engine where you can book flights, hotels, rentals, cruises, etc., as you would on Expedia.
With a Chase Sapphire Preferred or Ink Preferred card, you can get an extra 25% more, allowing you to redeem at 1.25 CPP.
So: 100,000 UR * 1.25 CPP = $1,250 in travel value
If you have a lot of points, it might make sense to crunch the numbers before applying or upgrading to the Chase Sapphire Reserve to get the most value.
Chase's most significant selling point is how easy it is to get value from a regular travel booking for that elevated value.
If you use your points for the Chase Travel Portal through this card, do your research and check out the rates online to see if it makes sense.
During the pandemic, travel redemptions were severely limited. As a result, Chase came up with the Pay Yourself Back program, and Chase is allowing you to redeem points for elevated value in everyday categories most people can use.
When you use Pay Yourself Back for eligible purchases, you can "wipe" them off your statement with an additional 25% bonus value, essentially allowing you to redeem it at 1.25 CPP.
As a result, we can say: 100,000 UR * 1.25 CPP = $1,250
Cards that offer Pay Yourself Back:
Note that each card above has different Pay Yourself Back categories that may change periodically, so check Chase's site for the most up-to-date redemption categories and rates.
If you hold a Chase Sapphire Reserve card and use your UR points to redeem for Chase Travel Portal, you'll get a 50% boost in value. Essentially, this will give you 1.5 CPP, meaning:
100,000 UR * 1.5 CPP = $1,500
Be sure to compare travel prices to the Chase Travel Portal to see if you're getting the best value.
Transfer Partners are one of the best ways to redeem your points. Generally, when you transfer your UR points to Chase's partners, you get 2 CPP in value. So that's:
100,000 UR * 2 CPP = $2,000
Related Read: Best Chase Ultimate Rewards Transfer Partners
Depending on the travel partner, this value can increase up to $10,000. If you want to know how to use your UR points to Chase's transfer partners, then check out this blog: How to Use Chase Ultimate Rewards Transfer Partners (a Step-by-Step Guide).
If you're interested in learning more about the best and worst ways to redeem your Ultimate Rewards points in detail, watch this video:
One of the most frequently asked questions I get is, "Why do you have multiple of the same credit card?" In this post, we'll cover which cards you can have multiples of, the general policies, and the cards I have.
Yes, depending on the credit issuer. With most major issuers, it's possible to hold two of the same credit card. The main issue is HOW you obtain multiple of these cards.
In most cases, you'll need to product change a card to hold two of the same credit card.
Important: You do NOT receive an intro bonus when you product change a card.
For example, if you product change a Chase Sapphire Preferred® Card to a Chase Sapphire Reserve®, you do not receive a bonus for the Chase Sapphire Reserve.
Some people obtain a second Chase Freedom Flex® card from getting the Chase Sapphire Preferred and product changing the card after the first year. You will not receive an intro bonus for the second Chase Freedom Flex.
For some credit issuers, if you currently have the card, you cannot apply for the same card. The application will automatically get rejected. Always check the card offer details and terms for the most accurate information.
Bank of America is more flexible with having multiple cards, but restrictions do apply for select products. You can have multiple Better Balance Rewards and Cash Rewards cards.
Be sure to read the Bank of America card application rules post to see if you qualify to apply for additional cards: https://www.asksebby.com/blog/bank-of-america-adds-24-month-rule-to-some-credit-cards
For example, the Bank of America Alaska card is not available to you if you currently have or have had the card in the past 24 months.
One product that is no longer available is the Better Balance Rewards card. The system allowed me to apply for multiple at the same time, and they were approved. However, Bank of America did close two of the accounts after enforcing their new application rules.
American Express lets you apply for the same product, but you will not receive the intro bonus again due to the "once in a lifetime" rule.
I don't recommend submitting multiple applications all at once; otherwise, the system may view them as duplicate applications and automatically reject them. Space the applications out by a few months.
Keep in mind that applying for a card is different from upgrading a card. When you upgrade a card, there are often upgrade offers after you spend "x" amount in "x" months.
I only recommend doing the product change if you currently have or had the card for the intro bonus in the past, otherwise, you might not qualify in the future.
Watch the video below for the Amex product change strategies.
Chase allows you to earn an intro bonus for a product once every two years, except for the Sapphire cards, which are once every four years.
However, it is possible to product change to a card you already have.
Reminder: You do NOT receive an intro bonus when you product change.
For example, you can sign up for a Chase Freedom card and earn an intro bonus. If you also have a Chase Sapphire Preferred that you no longer get positive expected value from, you can product change the Sapphire to a second Chase Freedom card.
There are two main reasons for why I have multiple of the same credit card:
Rotating category cards are some of my favorite cards to have duplicates. For example, the Chase Freedom Flex card earns 5% on up to $1,500 in combined category purchases each quarter you activate.
There are some categories that I can easily maximize, so having a secondary card helps me earn more points.
Another example is the Ink Business Cash® Credit Card that earns 5% cash back on the first $25,000 in combined purchases on office supply stores; internet, cable, and phone services.
Some office managers who carry the Ink Business Cash® Credit Card can easily maximize the $25,000 in combined category spend each year. Having a secondary Ink Business Cash® Credit Card would help earn points faster.
You can product change the Ink Business Preferred® Credit Card or Ink Business Unlimited® Credit Card to a secondary Ink Business Cash® Credit Card. Business cards can only be changed to business products, and not personal cards.
The second group of cards is ones that have annual fees, but you don't need to spend a lot on the card to derive positive expected value.
The best example is the Amex Hilton Aspire that has a $450 annual fee and comes with a free weekend certificate and resort credits. Since I can redeem the free weekend certificate at high-value properties, I derive more than $450 in value each year.
The automatic Diamond status has also saved me hundreds of dollars on breakfast and executive lounge access.
Your mileage may vary depending on where you plan to redeem the free weekend night. I currently hold two Amex Hilton Aspire cards.
Having multiple of the same credit card isn’t for everyone. I wouldn’t recommend it unless you have a specific use case like maximizing spend categories or utilizing travel benefits.
Before applying to Chase credit cards, it’s important to understand the rules for applications (2/30 Rule), eligibility (5/24 Rule), and bonuses (once every two years).
The 2/30 rule says that you can only have two applications every 30 days or else you’ll automatically be rejected.
If you don’t have a high credit score (700+), your chances of getting approved for the Chase Sapphire Reserve® is slim. Chase usually looks for a great credit score or a banking relationship. It’s a lot easier and less risky for Chase to give you a credit line of $1,000 with the Chase Freedom Flex®, as opposed to the minimum $10,000 credit limit with the Chase Sapphire Reserve.
The most infamous rule is the Chase 5/24 rule. The idea is if you have more than five new credit cards in the past 24 months, from any issuer, you’ll automatically get rejected for certain Chase cards.
For example, if you received 4 Bank of America credit cards and 1 Citi credit card in the past 24 months, then your Chase application will be automatically rejected because of 5/24.
The main exception to this is Chase business cards because they don’t go on your credit report. Even though Chase can see them on your report, they don’t care.
Regarding intro bonuses, you can qualify for a new bonus every 24 months. For example, if you received the Hyatt sign up bonus in 2013 and applied for the card again in 2017, you would be eligible to receive a new bonus.
If you’re currently an authorized user for a card you want to apply for, you should remove yourself to qualify for the intro bonus.
The one exception to the intro bonus rule in the section above is the Chase Sapphire family of cards.
The “One Sapphire Rule” refers to Chase Sapphire card applications and approvals.
You cannot apply and get approved for a Sapphire card if you currently have an open one.
You can have an open Chase Sapphire Reserve, Chase Sapphire Preferred® Card, OR a Chase Sapphire card, but not more than one at a time.
Exceptions to the “One Sapphire Rule”:
In addition to the “One Sapphire Rule,” you can only receive an intro bonus to a Chase Sapphire card once every 48 months (4 years).
For example, if you receive an intro bonus for the Chase Sapphire Preferred in Jan 2018, you would have to wait until Jan 2022 to receive another Chase Sapphire bonus.
If you were to downgrade the Chase Sapphire Preferred in Jan 2019 to a Chase Freedom card and apply for the Chase Sapphire Reserve, you would not qualify for the bonus due to the 48-month rule.
Again, the 48-month rule only applies to the Chase Sapphire family of cards.
If you are an authorized user on a Chase Sapphire card and you want to get your own, be sure to remove yourself as an authorized user before applying.
You are not eligible for a personal Southwest credit card intro bonus if you:
Currently have any (personal) Southwest Rapid Rewards credit card
Received a Southwest Rapid Rewards credit card intro bonus in the past 24 months
The above rules do not apply to the Southwest Rapid Rewards Business cards. There are currently 3 personal Southwest credit cards, so you can only get the intro bonus for one every 24 months.
However, if you want to earn Southwest Companion Pass from credit cards, you can apply for one personal and one business Southwest card.
Chase business credit cards are affected by 5/24 (you can get rejected due to 5/24).
Chase business cards (and business cards from most issuers other than Capital One) do not show up as a new account on your credit report and therefore do NOT add to 5/24.
For example, you can be at 4/24, add a Ink Business Cash® Credit Card, and you would still be at 4/24.
On the flip side, if you are at (or above) 5/24, and apply for a Ink Business Cash® Credit Card, the application would be rejected due to the 5/24 rule.
If you’re looking for the optimal strategy, go for the Chase cards you want first based on your goals (travel or cash back) before any other credit issuer.
The benefit of going for Chase cards first is that unlike other card issuers, most of the core Chase cards have no annual fee product change options to keep your credit history alive.
At the end of the day, we recommend applying for cards that make sense for you and add value based on what you’re trying to achieve.
What if you could save time and find multiple credit card offers that you're prequalified for without impacting your credit score? Sometimes, you may even get targeted for special offers (not publicly available) based on your credit profile when you use the CardMatch Tool.
CardMatch is a tool that shows you pre-approved and special targeted offers (sometimes) from select credit issuers. The tool conducts a soft pull so that it won't affect your credit score. See your matched offers in less than 60 seconds.
Every so often, the CardMatch tool has great offers for select cards. For example, not everyone will be targeted, but sometimes you can find The Platinum Card® from American Express with 125,000-150,000 point welcome offers after you spend $6,000 within the first 6 months. Terms apply. A couple of AskSebby subscribers have reported they were able to apply for and get the offer. YMMV.
Users may not be matched with all offers or banks, and matches are based on your credit profile.
To take advantage of targeted offers available, simply go to the CardMatch tool. Enter your information, agree to the terms of service, and the system will search for offers.
Be sure to view "All Matches" to see everything you're targeted for.
Want to see if you're pre-qualified for any great offers? Try it out yourself!
The Platinum Card® from American Express is a premium travel credit card that offers a wide range of exclusive benefits and rewards. Some of the benefits offered by the card include travel perks, such as airport lounge access and elite hotel status.
The Platinum Card has a public offer available to everyone, but there's also an elusive elevated Amex Platinum 150,000 point bonus.
American Express has a once-in-a-lifetime welcome bonus rule, so if you earned an intro offer for the Amex Platinum in the past, you likely do not qualify for the elevated offer.
Here’s how to find the 150,000 Amex Platinum offer for first-time Amex cardholders.
There are several ways to check whether you’re eligible for the Amex Platinum 150K offer by either:
Here’s how each method works to see if you qualify for the offer.
One of the easiest ways to determine whether you qualify for the Amex Platinum 150k offer is by simply visiting their website. Sometimes American Express will show elevated offers to new customers.
There may also be the American Express pre-qualification tool that shows an elevated offer. This will allow you to enter your information securely (no hard credit pull) and match you with available offers.
Through the pre-qualification tool, rather than applying for The Platinum Card from American Express through the ‘Apply Now’ page, you can use a special “Check for Offers” link, which will ask for your information and tell you whether you’re pre-qualified for the 150k Platinum offer.
If you're not targeted for elevated offers on American Express's website, one of the quickest and easiest ways to determine whether you qualify for an elevated offer is through a free tool called CardMatch.
We recently took a trip to the Canadian Rockies in September. People often ask me how I plan my trips, so this is a step-by-step guide on how we planned our trip to Banff.
One of the main reasons why we wanted to take this trip is because Parks Canada is offering free admission to their national parks for their 150th anniversary.
1. Hotels
2. Flights from SFO to Calgary
3. Car rental
I signed up for the Chase Fairmont card earlier this year for the two free night certificates. The card was discontinued in August.
Peak season rates for the Fairmont Lake Louise is usually $1099 CAD/night.
To book reservations using the Fairmont certificates, we had to call the reservation line on the back of the card. They don't have an online system, so the representative has to manually look through different dates.
On our first attempt, there were no consecutive dates available for Lake Louise. After doing some more research, we realized it was better to stay in Banff Springs because there are more attractions near the hotel.
We called a few weeks later and were able to secure two consecutive nights in September for Banff Springs. Another benefit was that we could use the suite upgrade certificate with the booking.
Bottomline, try calling the reservation line several times over the span of a few weeks to check for availability.
For the remaining hotel nights outside of the Fairmont certificates, I booked using Hotels.com. My goal was to spend less than $100 for hotels in Calgary. I booked the Marriott in downtown Calgary two weeks before the trip and found a deal for $97/night.
Pro-tip: Hotels.com has a 10% discount if you book using a mobile phone.
On the last night, we were supposed to drive back to Calgary, but we wanted to spend more time in Banff, so we canceled the hotel reservation. I booked a last minute hotel reservation at the Juniper Hotel in Banff and used my Hotels.com free night since I accumulated 10 stays.
The free night is equivalent to 10% of all your hotel.com stays, so my free night certificate was worth $119.77. I still had out of pocket costs to pay, which came out to be $68.65.
To book flights, I set up a Google Flights notification for deal alerts. I routinely check for flights on Tuesdays because that tends to be the cheapest day to book a flight.
Pro-tip: if you're planning multiple trips at the same time, set up a folder in your bookmarks bar to stay organized.
Flights to Calgary from SFO usually range from $350-$550, but we wanted to wait for a deal. We kept an eye out on Scott's Cheap Flights for a price drop. Luckily, a few weeks later, there was a deal alert.
The great thing about booking through the Chase Travel Portal is that discounted fares are also reflected. I used the Chase Sapphire Reserve and spent 15,872 UR points on a roundtrip ticket.
We booked a rental car using the Costco Travel Portal. From my experience, they usually have the cheapest rates and offer free upgrades or additional discounts at select locations.
I usually don't check anywhere else for rental cars unless the Costco rates are absurd. Since reservations are free to cancel, I typically make one at least a month in advance and then check what the prices are closer to the travel date.
Pro-tip: If you have to wait more than 20 minutes for a car, that usually means the rental agency ran out of cars, or they're slowly cleaning returns. Ask the agent nicely if they can do anything for you for the inconvenience, i.e., discount or free upgrades.
We waited an hour for the rental car, and the agent took off a day of rental and gave us a free tank of gas.
Here's the breakdown of the cards we used to book the trip:
As an InterContinental Ambassador member, travelers have the opportunity to indulge in a complimentary weekend night stay.
With a selection of over 200 InterContinental Hotels & Resorts available, guests simply need to book a weekend stay of at least two nights to qualify for this enticing offer. The second night's charge is waived upon check-in, provided guests present a valid ID and IHG One Rewards number. Book here: https://www.ihg.com/intercontinental/content/us/en/ambassador/free-weekend-certificate
Redeeming the Complimentary Weekend Night perk is hassle-free – guests can make their reservation through the IHG booking portal and will receive their complimentary weekend night credit upon check-in, upon presentation of a valid ID and member number.
It's important to note that this offer cannot be combined with Reward Nights or any other ongoing promotions. However, guests can easily access this offer through their IHG One Rewards account.
Before you apply for an American Express card, it’s important to learn about the rules to increase your chances of approval.
The guidelines presented here include non-negotiable rules explicitly stated in the terms and conditions, as well as practical insights gleaned from experience and shared among industry insiders.
While certain guidelines may apply to a broad range of individuals, there may also be exceptions to these rules that could impact your personal experience.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.
To be eligible for US credit cards, you typically need to meet certain requirements, such as being a US citizen or legal resident and being at least 18 years of age. However, obtaining a card can be challenging for those without an ITIN or SSN.
That being said, there are exceptions to these requirements, as residency can be interpreted broadly. For example, Canadian citizens who operate a business in the US for a limited period may be able to obtain US cards by using their US mailing address.
Additionally, even if you are not perceived as a resident, you may still be considered one for tax purposes, which American Express typically looks for.
Furthermore, there are programs like Global Transfer that allow you to bring your Amex history from another country to the US, potentially improving your chances of getting approved for US cards.
Across the board, American Express tends to be one of the most stringent, so there’s a list of things they require, such as:
A big reason for this is just due to the financial compliance that’s required in the U.S.
Typically, having a credit score of 700 or higher is desirable, although it is not an absolute requirement. In my experience, a score of at least 700 is generally necessary to qualify for most American Express cards, but others may suggest different thresholds, such as 670 or even 650. Personally, I find that aiming for a credit score of 700 helps to minimize the risk of rejection and reduce the hassle of applying for credit.
You might be surprised at how simple it is to improve your credit score if you lower your credit card utilization. However, even if your score is at a satisfactory level, such as 670 or 700, you may still be denied credit due to other factors, such as a high credit utilization rate or being on a blacklist.
The intro offer may not be available to those who have previously had the same card or versions of it.
Although many of the features may be identical, these are technically different products, not previous versions. Some issuers may still consider it a disqualifying factor if you have had the same card before or if you did not receive the welcome bonus previously.
This is why it is important to be cautious when upgrading or downgrading your card, as it could potentially lock you out of the intro offer. Since the intro offer is a significant incentive for many applicants, a mistake here could cost you hundreds or even thousands of dollars.
The key takeaway is to avoid downgrading your card unless you have had it before or are not interested in the intro offer.
Exceptions to the general rule exist, such as:
Therefore, it is recommended to apply for cards during elevated offers or use tools like CardMatch to determine if you are targeted for an elevated offer rather than solely relying on exceptions.
In the past, this was referred to as the Five Card Rule, as American Express historically limited customers to five credit cards. This means that if you already have five personal credit cards and attempt to apply for a business credit card, your application will likely be rejected. If you only have four personal credit cards, you can only be approved for one business credit card, which means that you are limited to a total of five credit cards between your personal and business accounts.
There are also several distinctions between credit cards and hybrid cards. Hybrid cards are those that do not have a specific spending limit, including:
When you log in to view these cards, they typically state that there is no set spending limit. However, there is a limit based on risk assessment, which can change frequently.
All other cards are considered credit cards:
If you have five credit cards, you can still be approved for the American Express® Gold Card, The Platinum Card® from American Express, and other non-credit-card products. The American Express® Gold Card and Platinum cards do not count towards the five-card limit. However, there is some variability in this rule, as some people may be limited to only four cards, while others may be allowed up to six.
The rule states that you are only allowed to be approved for one credit card every five days. However, the 1 in 5 rule does not apply to other cards. This means that you can apply for one credit card and any number of other cards on the same day without any issues. However, it is important to keep in mind that you will still be responsible for meeting the minimum spending requirements for each card.
Another thing to note is that applying for multiple American Express cards typically does not have a significant impact on your credit score. Once you have one Amex card, they usually only do soft credit pulls for subsequent applications. Your mileage may vary.
If you apply for more than two credit cards within 90 days, you will automatically be rejected for the third one. However, it is important to note that this rule only applies to credit cards and not to other cards. Therefore, you can apply for as many other cards as you want without worrying about this rule.
"Popup Jail" is a term used to describe a scenario where you apply for a credit card, and a popup appears, informing you that you can still apply and receive the card but without any intro bonus. The reasons for this can vary greatly, but it is often due to the applicant's behavior being considered unprofitable or not meeting the issuer's criteria.
Common reasons include low spending on current cards, closing a card too quickly or after taking a retention offer and spending too much on elevated categories.
To avoid ending up in popup jail, it's recommended that new applicants start with other issuers first, especially if their spending is relatively low.
Another example is self-referrals, which can result in shutdowns and blacklisting in extreme cases. Ultimately, the issuer is less likely to provide an intro bonus if the applicant is perceived as unprofitable, as it doesn't make economic sense for them to do so.
This rule states that you're eligible for only one introductory bonus across the various versions of The Platinum Card® from American Express (Standard, Charles Schwab, and Morgan Stanley versions).
Example Scenario: If you’ve had The Platinum Card® from American Express Exclusively for Charles Schwab or The Platinum Card® from American Express Exclusively for Morgan Stanley, you’re ineligible for the welcome bonus of the standard Platinum card. This rule necessitates a strategic approach - choose the Platinum card that offers the most value based on your lifestyle and spending habits.
There’s an unwritten rule suggesting you can only be approved for one Platinum card every 90 days. While this might be flexible, the system often flags multiple Platinum applications as duplicates.
Example Scenario: If you're aiming to collect different Platinum cards for their unique benefits, space out your applications at least 90 days apart to avoid automatic rejection.
One of the most impactful new rules is what I like to call the "Little Brother Rule." This rule is about prioritizing certain cards in your application strategy to ensure eligibility for welcome offers.
Specifically, with the Delta SkyMiles card lineup:
Your eligibility for a welcome offer on a lower-tier card may be affected if you already have or have had a higher-tier card.
Example Scenario: If you apply for the Delta SkyMiles® Blue Card from American Express, you're ineligible for the welcome bonus if you've had any of the higher-tier Delta cards. Conversely, holding a Delta Blue doesn't affect your eligibility for higher-tier cards' bonuses. This cascading effect means it's strategic to start with the Delta Blue and work your way up, potentially unlocking four distinct bonuses.
American Express recently stopped counting airline gift card purchases towards airline incidental credit reimbursements.
As a reminder, the airline credits are intended to be used for incidental fees such as checked bags and in-flight refreshments, and not gift cards.
Since the gift cards stopped coding, there have been scattered data points of select non-gift card transactions triggering the airline incidental fee reimbursement.
Some of the data points below are of legitimate airline incidentals like seat upgrades, pet fees, and early check-in fees. If you believe that your purchase should be considered an incidental and it’s not reimbursed by your statement close, contact American Express and let them know.
Disclaimer: Data points do not mean that the method is guaranteed to work. Methods are subject to change at any time. Use at your own risk.
Credits are getting reimbursed ~10 days from transaction posting (NOT transaction date).
i.e., you make the purchase on Nov 15 and it posts on Nov 18. It would be ~10 days from 18th so hopefully 28th.
Works:
Doesn’t work:
Works:
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Works:
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