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rated:
http://www.cardtrak.com/news/2009/10/08/mother_lode
http://home3.americanexpress.com/corp/pc/2009/premier.asp

As competition ramps-up, American Express announced the launch of a new "Gold" charge card that offers the opportunity to earn triple "Membership Rewards" points on airfare purchases, double points on gas and grocery purchases, and one point for all other purchases. The new "Premier Rewards Gold Card," which carries a $175 annual fee, enables cardholders to earn 15,000 bonus points when they spend $30,000 per calendar year. The new card is part of American Express ’ renewed focus on its "Charge Card" portfolio. The new "Premier Rewards Gold Card" also offers access to special amenities valued at $100 to $150 on virtually any trip from American Express Gold Card Destinations travel partners; a $75 food and beverage credit whenever they book a stay of two or more consecutive nights at more than 500 Starwood properties around the world; a wide variety of exclusive, unique travel and entertainment packages that are updated monthly at www.goldcarddestinations.com; and gold card events, which offers access to advance tickets and premium seating at some of the most sought-after shows and concerts, as well as VIP packages, exclusive tickets to family events, and much more.
The new Card is available for an annual fee of $175, which is waived for new Card members the first year.

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Great. First there was the gold card, then the gold "preferred rewards" card, and now the gold "premier rewards" card.

oopsz said: First there was the gold card, then the gold "preferred rewards" card, and now the gold "premier rewards" card.Don't forget Rewards Plus Gold Card, and Gold Card from OPEN, and Rewards Plus Business Gold Card, and the Executive Corporate Card (which looks like a gold card), and the Fidelity Gold Card, all of which are almost-interchangeable charge cards, not to mention partner cards (Gold Delta Skymiles, and others).

Did not see this mentioned. got my pre screen for this card yesterday and it comes with a nice sign on bonus.

35,000 points for the first $500 in purchases made prior to 12/31/09 redeemable for $350 in travel bonuses.

This was a mail offer and no links provided other than to terms and conditions of the card at www.membershiprewards.com/terms.

Hope this helps

Rechtien

Am I missing something or is this a horrible deal? If you hit the 30k mark then the bonus almost makes up for the annual fee.

I know you can dump the card after a year and not pay the fee, but what value do others see with this card?

Spend 500$ on stuff you were going to buy anyway like groceries and gas. Redeem for $350 in rewards or gift cards and call to cancel the card. Getting to 30k would be hard for me.

You can try and get them to waive the fee but that is YMMV.

rechtien

rechtien said: Did not see this mentioned. got my pre screen for this card yesterday and it comes with a nice sign on bonus.
35,000 points for the first $500 in purchases made prior to 12/31/09 redeemable for $350 in travel bonuses.

This was a mail offer and no links provided other than to terms and conditions of the card at www.membershiprewards.com/terms.

NO FAIR! I got my pre-screen and it says get 25,000 membership reward points for the first $1,000 in purchases within first 3 months, and if I spend at least $10,000 within 6 months of account hopening, I'll get another 25,000 reward points. If I spend $30,000 within my account year, I get extra 15,000 bonus points. It sounds nice to get 3X points for airfare, 2X points on gas and groceries, and 1X for everything else. But, $175 annual fee is not worth it! Wierd thing-- both my mailing, and the online Terms and Disclosures does not mention anything about the APR for balances of purchases, balance transfers BT, cash advances; it did not disclose fees for cash advances, balance transfers, international foreign purchases.

bankdealsrule said: rechtien said: Did not see this mentioned. got my pre screen for this card yesterday and it comes with a nice sign on bonus.
35,000 points for the first $500 in purchases made prior to 12/31/09 redeemable for $350 in travel bonuses.

This was a mail offer and no links provided other than to terms and conditions of the card at www.membershiprewards.com/terms.

NO FAIR! I got my pre-screen and it says get 25,000 membership reward points for the first $1,000 in purchases within first 3 months, and if I spend at least $10,000 within 6 months of account hopening, I'll get another 25,000 reward points. If I spend $30,000 within my account year, I get extra 15,000 bonus points. It sounds nice to get 3X points for airfare, 2X points on gas and groceries, and 1X for everything else. But, $175 annual fee is not worth it! Wierd thing-- both my mailing, and the online Terms and Disclosures does not mention anything about the APR for balances of purchases, balance transfers BT, cash advances; it did not disclose fees for cash advances, balance transfers, international foreign purchases.


This is an AMEX Charge card.

There is no APR because you must pay off the balance in full each month.

rechtien said: Did not see this mentioned. got my pre screen for this card yesterday and it comes with a nice sign on bonus.

35,000 points for the first $500 in purchases made prior to 12/31/09 redeemable for $350 in travel bonuses.

This was a mail offer and no links provided other than to terms and conditions of the card at www.membershiprewards.com/terms.

Hope this helps

Rechtien


Someone find me a link for this offer

"The new Card is available for an annual fee of $175, which is waived for new Card members the first year."

Otherwise, I agree with you.

rechtien said: Spend 500$ on stuff you were going to buy anyway like groceries and gas. Redeem for $350 in rewards or gift cards and call to cancel the card. Getting to 30k would be hard for me.

You can try and get them to waive the fee but that is YMMV.

rechtien

FYI - if you don't have a special offer and just go to AmericanExpress .com you won't get any bonus points for signup. But you can get 15,000 bonus points with $1,000 in spend using http://tinyurl.com/y9z5k6p - basically if you sign up via a web link, make sure you have the following showing on the left hand side:

# Earn 15,000 Membership Rewards® bonus points when you spend $1,000 in your first 3 months of Card membership – redeemable for up to $150 in gift Cards upon point credit at participating retail, dining, and entertainment partners.

(OR, obviously, a better offer But many links won't have any offer there at all.)

I "upgraded" my regular gold card to the "premier rewards" gold card today. To me, the upgrade makes sense for people that a.) already have/want a gold card for whatever reason and b.) spend more than $30,000 on their card. The best new feature of this card is the annual bonus of 15,000 points for spending $30k. In the past I paid ~$135 for my gold card (disregarding points earned through spending) and now I will pay a net ~$25 when the 15k pt bonus is taken into consideration (again disregarding points earned through spending). For those that meet the two criteria above, I think this is a pretty good deal. For those who just want the maximum return out of their credit card, stick to the Schwab 2% and similar Cash Back cards.

One thing to note, I was originally targeted via mail by AMEX to sign up for the card. If I would have used that targeted signup, I would have had to pay the first year fee of $175 and I wouldn't have received a sign up bonus. By using the tinyurl link in this thread, I was able to avoid that fee. Note that the signup bonus you will find through the tinyurl link (and other links you may find on the web) has decreased from 15k pts to 10k pts as of today.

Edit: note that the "upgrade" i refer to was really me signing up for the premier gold card and canceling my old gold card.


AMEX offer
Disclaimer
I got my pre-screen offer today and I was offered 50,000 rewards bonus points by spending $500 in three months. But it says, it can be redeemed twoards two domestic coach-class tickets. I don't fly domestically these days, but was wondering if it can be redeemed for gift certificates or other rewards? I don't really like cards with annual fees, but it's waived for the first year. But it's probably a hassle to try to get them to waive the fees for the second year and don't want to get hit twice by the credit pulls, having to open and then close it.

Here's a scan for you guys, if you want to read the offer.

SleepyBum, that is a really nice targeted ad. I wish I had received that offer. The "redeemable for two domestic class coach tickets" appears to be only an example of what you can use the points toward. In reality, 50,000 pts should be able to be redeemed for anything in the membership rewards catalog (electronics, hotels, etc). You can see all that's available through your online account once you get the card. I would definitely jump on the offer. You can always cancel before 1 yr if you don't like the card -- just make sure you use those points first.

WOW! I just received that same letter for the Premier Rewards Gold Card; except they say get 25,000 Membership Reward bonus points that can be redeemed for gift cards valued at $250 from select retail and dining partners. Simply spend $500 on the card by February 28, 2010 to earn the bonus points. No annual fee for the first year; $175 normally. One thing not clear: is there an annual fee to be in Am Ex Membership Rewards Program? It says no fee for Rewards Green, Preferred Rewards Green, Rewards Gold, Preferred Rewards Gold, Rewards Plus Gold, Business Membership Rewards, Business Green Rewards and Business Gold Rewards. Not sure?

I also got the 50K bonus points for spending $500 offer. The fine print says that a frequent flyer membership is required to get the airline tickets. There is a $0.0006 conversion fee per point. So $30 conversion fee for 50K points.

Receieved bonus points. Any suggestion on which reward(s) are most valuable?
I can redeem 10K points for $100 Home Depot gift card. It is like $0.01/pt. Not a bad deal. Any other suggestion?

snova said: Receieved bonus points. Any suggestion on which reward(s) are most valuable?
I can redeem 10K points for $100 Home Depot gift card. It is like $0.01/pt. Not a bad deal. Any other suggestion?
AMEX points can be transferred to frequent flier accounts not belonging to you. If you have any friends who collect those points, they'd probably be willing to pay you more than $100 for them. (I would)



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