American Express 50,000 rewards points "premier rewards card"

[somers515]

American Express "premier rewards card" 50,000 points once you spend $2,000 on the card.  No annual fee the first year, $195 the second year.  Anyone get this offer recently?  Sounds like at very least I could get the card, spend $2,000 on it, get a $500 reward (i.e. cash out the 50,000 points) and then cancel the card before the first year is up.  That's a pretty good return on investment so to speak.  Anyone see a downside besides the hassle?  Thanks!

[lamil]

Sounds about right.  Look up churning. Have fun =)

[somers515]

Gotcha - thanks!

[daverobev]

http://www.reddit.com/r/churning is good.

[EnjoyIt]

make a small addition to the comment.  Do everything you said plus you get a $100 airline credit per calendar year.  If you can get the card and make a $100 airline incidental purchase you will be credited $100 for 2016 and then do the same in 2017 for a total of $200. 

[Davids]

Link to offer for 50000 bonus points, what I see online is 25000 bonus points.

[Keekster]

Set your airline to United, and you can use your $100 credit to get an Amazon gift card thru the MPX app.

[ducky19]

You have to be preselected to get the 50k point offer, online it only shows 25k. I got this offer earlier this year and started looking at ways to use my points. You can't simply use them as a statement credit - they make you "cancel out" purchases at a pretty unfavorable rate. I dug a little deeper and found that I could transfer my points to the Plenti reward program at a rate of 500:750 (special promo thru the end of the year). So I was able to get 75k Plenti points which I'm currently using for $750 worth of free gas at Mobil stations! They make you use it in $25 increments, but my 07 Vibe never takes more than $20 so that works out well. I also got the AmEx Every Day rewards card and got an additional 10k points (15k on Plenti) and their Plenti AmEx where I got an additional $50 in Plenti points. Total haul was $950 in free gas which will take me well into next year to use. I doubt you'll be able to get the points before the end of the year due to the lag, but if you do I would look into it. Even at a 1:1 ratio, it's still one of the better ways I found to use the points. Enjoy!

[ducky19]

Set your airline to United, and you can use your $100 credit to get an Amazon gift card thru the MPX app.

Thanks for the tip, will be doing this very soon!

[badasswizard]

I have this card with the same offer--the fine print is that 50,000 points actually translates to $300 cash, or $500 in gift cards for a bunch of stores, as well as travel, etc. I couldn't find a $500 statement credit option. But it's still pretty good to get $300 cash.

You can cancel one year later and won't have to pay the $195 annual fee. I believe if you cancel anytime in that month they'll refund the fee and close the account.

Did I read all the entire card user agreement? Why yes, yes I did.

[kpd905]

If you sell the points you can get about $600.  You should also be able to get $200 in airline gift cards reimbursed for the airline incidental credit.

I made a thread about this card here: http://forum.mrmoneymustache.com/reader-recommendations/amex-premier-rewards-gold-get-up-to-$825-after-spending-$1-000-in-3-months/

Note, I do not think you can do the United MPX app anymore to get the airline fee credit.

[Megma]

If you sell the points you can get about $600.  You should also be able to get $200 in airline gift cards reimbursed for the airline incidental credit.

I made a thread about this card here: http://forum.mrmoneymustache.com/reader-recommendations/amex-premier-rewards-gold-get-up-to-$825-after-spending-$1-000-in-3-months/

Note, I do not think you can do the United MPX app anymore to get the airline fee credit.

Note on using the United MPX app, this worked for me 3 weeks ago but I tried again on nov 27 and it didn't work. I tried another time yesterday and will report back if it works. So maybe it went down beefing, like it did at one point last year...

[Fitzy]

Note on using the United MPX app, this worked for me 3 weeks ago but I tried again on nov 27 and it didn't work. I tried another time yesterday and will report back if it works. So maybe it went down beefing, like it did at one point last year...

Would be interested to know if this works for you using MPX app.  Worked for me this summer and got $100 credit for 2016.  Looking to try again this January to get 2017 credit.

[Megma]

Note on using the United MPX app, this worked for me 3 weeks ago but I tried again on nov 27 and it didn't work. I tried another time yesterday and will report back if it works. So maybe it went down beefing, like it did at one point last year...

Would be interested to know if this works for you using MPX app.  Worked for me this summer and got $100 credit for 2016.  Looking to try again this January to get 2017 credit.

So I don't think it's working. Neither the purchase I made on 27 Nov or the one after that have received the credit. I actually contacted Amex to see if they would tell me they weren't eligible but they only said that it can take up to 4 weeks to receive. Since my other purchase, the credit posted the next day (I did $25, 50, 25 because that's what I needed at the places I bought cards for and it matched bag fees), I don't believe the app purchases going to be reimbursed.

My plan is to wait until December 28th, see if it magically credits that day and then buy a United gift card. However, since it will be holidays, I realize I might not tell y'all anything in time to get your credits. Plan accordingly :-)

I'm a little annoyed because I wouldn't have chosen United since I have some other airline gift cards already and could've combined them but c'est la vie.

If anyone else has tried since December 7th and it worked, I'd appreciate your letting me know.

[tonysemail]

MPX loophole has been shut down

[Davids]

Link to offer for 50000 bonus points, what I see online is 25000 bonus points.

I was able to get the link to occur and applied and got the card. The "exchange rates" for cash is not as good as other cards but it is still something and $2K in 3 months is normal cc spend for me anyways so nothing extra needed. I may actually just use the points on target and walmart gift cards since that is a better rate than cash but we shall see.