American Express charge cards are known for requiring payment in full every month or else you get hit with sky-high interest rates and fees. However, American Express is now offering the option to pay certain large purchases over time and most importantly, they are offering 5,000-10,000 Membership Rewards points for cardholders who add this Extended Payment Option to accounts on charge cards like the Platinum and Premier Rewards Gold. I remember seeing this promo in the fall and when I tried to enroll, it rejected my cards. However, this time around I registered and it accepted so I have 5,000 Amex points coming my way! This may still be targeted, so don’t get angry if it doesn’t accept your card.
There are two current offers – I’d try for 10,000 then 5,000
5,000 point Registration link.
The great thing is that you don’t actually have to use this optional service to get the points- per the T&C. “To be eligible to get bonus points, you must be enrolled in the Membership Rewards® program at the time of enrollment in these features. Only one bonus offer per Membership Rewards account is permitted, and bonus points will be credited to your account within 6-8 weeks after enrollment. Maximum 5,000 points per account. Bonus ID: 7908 and 7906“
I’d just caution that, as usual, whenever you incur interest charges, they basically negate the value of any points you earn from charging an expense in the first place, so this isn’t a chance to rack up huge amounts of consequence-free points, but rather is designed as a stop-gap for small businesses or individuals who need to make purchases beyond their current means without ruining their credit.
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