Amex Pay Over Time Bonus
American Express is targeting select cardholders with an offer to easily earn a bonus of 20,000 Membership Rewards points. To earn this bonus, all you need to do is activate Pay Over Time. This is a feature that lets you carry a balance on Amex Pay Over Time cards (charge cards). But you don’t need to actually carry a balance, and pay interest so you can earn this bonus. Check out the details of the offer below.
Offer Details
Here’s how this offer works:
- Check the Amex Offers section to see if you are eligible (showing up in Amex Gold Card for me). You can also try this link to see if you are eligible.
- Activate Pay Over Time for the targeted card, and receive 20,000 Membership Rewards points.
- You need to activate Pay Over Time by Aug 1, 2024 to be eligible for this offer.
The bonus amount and expiration date might vary by account.
Important Terms
- Different activation offers may be available through different channels such as phone.
- The activation bonus included with this offer may not be available if you activate Pay Over Time through a different channel or previously accepted a Pay Over Time activation offer.
- To be eligible to earn Membership Rewards® points, you must be enrolled in the Membership Rewards® program at the time you activate Pay Over Time.
- Only one offer per Card account is permitted; maximum 20,000 points per account.
- Points will be credited to your program account within 8-12 weeks after you activate Pay Over Time, as long as your Card account is not canceled or past due at the time of fulfillment of this offer.
- The receipt of Membership Rewards® points through this offer may be considered taxable income to you and may be reported to the IRS on Form 1099.
What Is Pay Over Time
The “Pay Over Time” program is available for American Express “Pay Over Time” cards and it basically transforms them into regular credit cards, as you don’t have to pay in full by your due date. DON’T DO THIS.
Always pay your credit card balances in full when possible. But it is an option that you can sign up for, without having to actually use it. Wait for a bonus to sign up to do so. American Express currently offers these Pay over Time cards:
It’s always a good idea to unenroll from Pay Over Time, so hopefully you get targeted with one of these offers.
Guru’s Wrap-Up
This Amex Pay Over Time bonus is quite generous. You get 20,000 Membership Rewards points with less than 30 seconds of work. I had not seen one of these offers in a while, so I’m excited for the easy points.
If you are eligible, then it is definitely worth it. There’s no hard inquiry and you do not actually have to carry a balance to get the bonus. You just need to enroll to receive the points.
I saw the offer in my Amex Gold Card, but check other charge cards and hopefully you see a similar offer. Let me know in the comments if you are targeted!
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