Amex 'Fly Now, Earn Later' Allows Delta Co-Branded Cardholders to Borrow Miles
Update: Some offers mentioned below are no longer available. View the current offers here: Platinum Delta SkyMiles® Credit Card from American Express, Gold Delta SkyMiles® Credit Card from American Express
Delta and American Express are teaming up to offer select cardholders of co-branded Delta cards a new, useful perk. The new program, called "Fly Now, Earn Later," allows Amex co-branded Delta SkyMiles cardholders to borrow miles and then pay them back over the course of six months by putting spend on the card.
TPG reader Steve B. sent in information that Amex had targeted him for this offer on his Platinum Delta SkyMiles Card from American Express. The idea is that Amex will limit the number of miles you can borrow based on your spending patterns. If you choose to borrow ahead, you'll then have to earn them back as a form of repayment by putting spend on your respective card.
This is a nice perk for co-branded Delta Amex cards, as it'll put a redemption closer within reach. However, if you fail to make that payment back within the six-month timeframe, Amex will charge you at an unfavorable rate of 2.5 cents per mile. Considering that TPG values Delta SkyMiles at 1.2 cents apiece in his most recent valuations, you're going to want to make sure you make your "repayment" in spend within those six months.
It appears that this is a targeted offer. If you have an Amex co-branded Delta card, log in to your Amex account, click on the Benefits section of the card as seen in the image above and see if you're targeted for the Fly Now, Earn Later offer. Presumably all Delta co-branded Amex cards are eligible for this offer, such as the Platinum Delta SkyMiles® Credit Card from American Express, the Gold Delta SkyMiles® Credit Card from American Express and the Delta Reserve® Card from American Express.
TPG featured card
at Capital One's secure site
Terms & restrictions apply. See rates & fees.
| 5X miles | Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel |
| 2X miles | Earn unlimited 2X miles on every purchase, every day |
Pros
- Stellar welcome offer of 75,000 miles after spending $4,000 on purchases in the first three months from account opening. Plus, a $250 Capital One Travel credit to use in your first cardholder year upon account opening.
- You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories
- Rewards are versatile and can be redeemed for a statement credit or transferred to Capital One’s transfer partners
Cons
- Highest bonus-earning categories only on travel booked via Capital One Travel
- LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app