American Express recently added new terms of service items to cards that earn Membership Reward points, but it might extend to other cards like SPG in the near future. h/t Travel with Grant
The following transactions are not eligible purchases and you won't earn points for them:
- Purchases and loads of reloadable prepaid cards
- Purchases of other cash equivalents
- American Express Gift Cards purchased online
- Person-to-person payments
- Cash Advances
- Balance Transfers
- Privileged Assets
- Express Cash
- Corporate Express Cash
- Purchases of American Express Travelers Cheques or American Express Gift Cheques
- Purchases paid with points
- Card account fees and charges
- Membership Rewards program fees and charges
- Fees for Card Member services you enroll in
Venmo and PayPal are considered person-to-person payments that some people were using to meet minimum spend.
I'm not surprised that Amex is cracking down on this method because of the level of potential abuse. Using these methods can lead to shutdowns for bonus clawbacks.
We've seen card issuers get more strict about this, especially when it comes to cash equivalents like Visa Gift Cards.
Looking for other methods to meet minimum spend? Paying taxes is a relatively easy way to meet spend.
Services like Plastiq should be okay because they're considered a payment service, and not a peer-to-peer service. American Express also has a direct relationship with Plastiq since they've recently updated their terms on what you can and cannot pay with Plastiq (i.e., mortgage payments).
It’s possible to combine hard inquiries when you apply for two credit cards from the same issuer on the same day. Here are the most frequently asked questions.
Credit cycling is when you spend more than the card's credit limit in a month by pre-paying during the same month.
Minimum spend refers to meeting a set spend requirement on a new credit card to receive the signup bonus. The landscape changes quickly, so we'll most likely create a monthly video about new strategies.
Wells Fargo recently refreshed the Propel credit card to add more benefits. The card has a historic high signup bonus worth $300, and if you have right two-card setup from Wells Fargo, it could be worth $450.
The best Amazon Prime day deals 2018.
Marriott and SPG will roll out their merged program and rewards starting on August 1, 2018. If you have SPG Starpoints, they'll be converted to Marriott Rewards at a 1:3 ratio. We'll cover the optimal strategy on how to use Starpoints if you have a redemption in mind.
Ask Sebby covers a wide range of topics from credit 101 to advance optimization strategies, but the mistake I often see is beginners trying to implement advance level strategies when they have a thin credit file.
American Express has a handful of underrated perks that don't get the attention they deserve. The great thing about these "secret" perks is that you can have any core American Express or co-branded card to take advantage of them.
The cards in my wallet rotate each month depending on if I received a new card to meet minimum spend requirements, a retention offer, or trying to optimize for a 5% cash back category.
Roundup of reminders for Q3: Plenti program ending, Marriott vacation packages to be replaced on August 1, and remember to activate cash back quarters.