American Express TOOK My Points (DON'T DO THIS)
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- čas přidán 25. 05. 2024
- American Express TOOK my Membership Rewards points out of my account. It turns out it was actually my fault because I didn’t follow AMEX’s rules for reaching welcome bonuses. This is something that happened a few days ago and it changed my perspective on the way I view the credit card rewards space. Please DON’T DO THIS when applying for new cards.
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Crap Jacob!! That sucks man. Sorry to hear it. I have always been weary of doing returns during a SUB. Definitely a legitimate thing you did for sure. At least it was "only" 15K points and not 150K
Thank you fr sharing Jacob. Teachable moment for anyone else that watches.
Yeah I’m really glad something like this didn’t happen with the Business Gold card. At least I get to share my experience with everyone so no one has to lose out on their welcome bonus
Definitely applying 2 cards per year and spread them over 6 months increments is the best for me. Keeps be under 5/24 and actually put some quality spending on the cards.
Sounds like you’ll be set up great in the long term!
Oh no! Thanks for sharing this! So if you buy a gift card, it doesn’t count towards the sub?
I know American Express doesn’t like when you buy gift cards only for the rewards points. It may or may not count towards the welcome offer
BBP will probably be the next card I snag. Been out of luck trying to grab the surpass with elevated offers as they are keeping me in pop up jail. Glad you didn’t lose all your points 😂
Ah man, pop up jail for the Surpass right now? Amex needs to give you that free night reward! I’m happy I was able to figure this out before it happened on one of my other cards
I almost made a different mistake when meeting the $3000 MSR for the IHG Premier earlier this year. I got the card in January 2024, and I placed the hotel reservations on the card for May - July 2024. I noticed no charges on my account, and realized the spend wouldn't be credited until after the 3 month period ended!
Luckily, I had a few other expenses I put on the card. I paid my semiannual property taxes on the card, as well as a bus trip run by my synagogue. Those two expenses took care of 90% of my MSR, so meeting the $3000 spend was a piece of cake.
Once I realized that the IHG stays wouldn't count toward the MSR, I canceled one of the reservations and replaced it with a less expensive hotel that got better reviews.
It's a good thing you figured out the MSR for that card! It wouldn't been rough missing out on those points and sounds like it all worked out in the end
Oh no! Yeah it’s always super important to make sure the total MSR is completed before the end of your welcome offer time block. Sorry this happened to you, but a great reminder and lesson for all!
Very good reminder for sure. I figured Amex would take away the welcome bonus points immediately like they did with the points from the purchase, but it's nice to know for the future that's not how they operate
what was the time in between the refund the points dded and the reversal
The refund was February 10th and the welcome bonus reversal was May 21st
Wow interesting , did you know that there is an offer for BBP card with 75K MR ? That’s a killer deal :)
I knew there were a couple offers out there. What is the minimum spend on the 75k offer?
@@JacobsPointsAndProfitI saw one for 15k in a year.
20 grand. Kinda of steep but not too bad for no AF card
@@WhiteoutSnowy That's a lot of spend, but I'm assuming you'll have 12 months to complete it, so you wouldn't have to complete it immediately if you didn't want to
Im working on an elevated welcome offer on the BBP myself:
50k MRs for $8k spend in 3 mths
Ya that amex RAT squad be on it. They might delay a bit, but they always circle back. Good thing it was only a small SUB.
Also very prudent to pause on amex apps for a minute
Yeah I haven't applied for an Amex card since then, but they sent me an email for 150k for the Business Gold so I might have to try for that one
It sucks that happened, Jacob but it’s a great video to remind or to educate the newbs. I’m always very careful with this because I cancel a ton of travel.
Yes, a great reminder of what to avoid when applying for new cards. I cancel a lot of travel too so I'll be a lot more careful moving forward
Good reminder for all of us. Sorry it bit you! But thanks for sharing.
It was rough to see the points taken away, but I probably should have seen it coming
Ah bummer to hear but thankfully the clawback wasn't too severe and you have a great learning lesson to share. Appreciate the video Jacob!
This could have happened on a much more important card so I'm thankful for that!
Thanks for sharing your mistake. Definitely a lesson for everyone churning credit cards.
No problem! It’s a learning experience for sure. I thought if Amex had a problem with what I did they would’ve let me know before they did but oh well
Haha, I love the "business expense" justification. Sure it may be a legitimate business, but it is still a bit iffy in the eyes of many. Amex doesn't think like that, however, and I'm sure that you can justify the expenses if need be.
Yeah I think it’s very difficult for the credit card issuers to determine what a business expense is exactly since every business is different so I think for the most part we’ll be ok
Jacob, I thank you for sharing this with all of us! I’m so sorry that they clawed back some MR Points. I love the fact that you showed us how having several cards can throw even the most seasoned person off their game. It’s hard to keep track. I’m glad you got the Gold offer! Thank you for the video! I appreciate you !
I've definitely learned it's ok to go a little bit slower with my applications. It's hard not always working towards welcome offers, but I think the credit card issuers will be happier with me if I occasionally spent money on all my active cards
American Express, no take backs!
Yeah come on Amex lol
Thank goodness they didnt really give it to you. I have heard they can get their panties in a bunch and just shut people down for mistakes.
Yeah it could’ve been a lot worse for me. I’ll make sure to be more careful in the future