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Amex has just switched up the Refer-a-Friend bonus for many (most? all?) Platinum/Gold/Green cardholders.
You can earn: +4 Membership Rewards points per dollar spent on eligible purchases for 3 months, on up to $25k when you refer a friend to apply by 12/1 and they are approved. Terms apply.
MilesTalk Group moderator Tim noticed this morning that the Refer-a-Friend offers in his account were updated to this new offer, and I see that mind have been as well. The offer to refer ends Dec 1, 2021.
Very interestingly, when I look at a “standard” offer to refer someone, I have the standard 55,000 points per calendar year caveat. I do not have that language here, making me believe that because it’s being awarded as a bonus on spend, it doesn’t count against the limit. That’s golden. Importantly, I *think* that also means you won’t have to pay taxes on the bonus since it will be tied to spend (i.e. earned).
You’d want to ideally refer from whatever card you spend the most on and this is a fantastic offer for high spenders. Since it attaches on top of your spend at +4 points, that means that it’s over and above any bonus category. If you have the American Express Rose Gold Card, for example, you would earn 8 Membership Rewards points per dollar on dining and groceries.
Maxed out, if you spend $25,000 within 3 months, you are earning a minimum of 5X per dollar spent and a bonus of 100,000 Amex Membership Rewards points for the one referral. This would be great for paying estimated taxes and that’s what I’d do if I can get any referrals.
(I have to take that shot 😉 )
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You can find credit cards that best match your spending habits and bonus categories at Your Best Credit Cards.
New to all of this? My “introduction to miles and points” book, MilesTalk: Live Your Wildest Travel Dreams Using Miles and Points is available on Amazon and at major booksellers.