AmEx $50 off $1000

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I got an email from AmEx saying if I spent $1000+ (in a single transaction), they'd give me $50 back. Transaction has to occur between 8/7 and 11/15. It was on my SimplyCash card, and looks targeted. Worth noting that they explicitly exclude money orders, cash advances, interest, fees and prepaid cards or other cash equivalents. Oddly, I don't remember seeing the email a month ago when I would've expected to receive it. It was on a SimplyCash card and is probably only applicable to business cards.

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In my experience, business that offer large cash discounts do so because they will then "forget" to include those funds ... (more)

cestmoi123 (Sep. 08, 2016 @ 11:32a) |

amex serve ?

manuvns (Sep. 08, 2016 @ 2:55p) |

How long did it take to post?  Was it a few days after making the purchase, like a regular AmEx Offer?

hpmax (Sep. 10, 2016 @ 10:50p) |

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Received the same on an AMEX card.

Protip - when buying anything for $1000+, offer cash, and you will likely get better than a 5% discount

wilked said:   Protip - when buying anything for $1000+, offer cash, and you will likely get better than a 5% discount
  Lol.. sure... go try that at Amazon or Best Buy*.

Maybe you mean if you're buying something from a White Van that has no value to start with.

*I hate Best Buy, but with pricematching or negotiating and including post-sale returnable protection plan with the purchases I have bought some larger items there for less than they could be bought anywhere else.

Plastiq is 2.5%, which you get back by the rebate (plus the regular rewards for spending 1k). Easy win if you wouldn't have that sort of purchase lined up anyway.

wilked said:   Protip - when buying anything for $1000+, offer cash, and you will likely get better than a 5% discount
  
Have you tried your protip with your electric company?

$1000 bill on electric!

Maybe I make fewer $1000 purchases at Amazon than others...

If I am spending $1000+, it is typically locally bought, and I have often negotiated the price down with cash. might not work for all, but it has worked for me

wilked said:   Protip - when buying anything for $1000+, offer cash, and you will likely get better than a 5% discount
  Doubt they would sale anything that expensive at the WalMart parking lot and if they do, I hope you do have a few more Ks stashed for the bond.

wilked said:   $1000 bill on electric!
  I charged $1000 to my electric company a few months ago, they charge a flat fee of ~$2.50.  Painless, cheap, way to meet some of the spend for ~$900 value bonus for opening spend on CSP.
$1000 covers almost 3 months for me in the peak summer or 7 months in the winter (except in TX there's 10 summer months and 2 months total for fall/winter/spring)

Bend3r said:   
wilked said:   $1000 bill on electric!
  I charged $1000 to my electric company a few months ago, they charge a flat fee of ~$2.50.  Painless, cheap, way to meet some of the spend for ~$900 value bonus for opening spend on CSP.
$1000 covers almost 3 months for me in the peak summer or 7 months in the winter (except in TX there's 10 summer months and 2 months total for fall/winter/spring)

  
Exactly! I have a solar with net metering - my big bill is Jan after they square up the net metering but whenever I need to meet my spend limit, I will pre-pay for several months and this can be my Comcast, Dish, PGE, water bill etc. Even if some of these guys charge 1 or 2%, remember that you are typically getting back a 1% + spend bonus from the credit card - so even with fees, it is really worth it.

PrincipalMember said:   
Bend3r said:   
wilked said:   $1000 bill on electric!
  I charged $1000 to my electric company a few months ago, they charge a flat fee of ~$2.50.  Painless, cheap, way to meet some of the spend for ~$900 value bonus for opening spend on CSP.
$1000 covers almost 3 months for me in the peak summer or 7 months in the winter (except in TX there's 10 summer months and 2 months total for fall/winter/spring)

  
Exactly! I have a solar with net metering - my big bill is Jan after they square up the net metering but whenever I need to meet my spend limit, I will pre-pay for several months and this can be my Comcast, Dish, PGE, water bill etc. Even if some of these guys charge 1 or 2%, remember that you are typically getting back a 1% + spend bonus from the credit card - so even with fees, it is really worth it.

  
Sadly, Commonwealth Edison will no longer allow me to pay anything more than the outstanding balance.  Otherwise that was a great way to MS.

Also sadly, and more to OP's point, I didn't get the AmEx offer.  I *am* on a "get $50 for every $5000 in spending" offer for my AmEx Simply Cash Business Card, which would make it sweeter if I could double-dip with this $50 on $1000 offer; that $1k would shoot me much closer to my $5k.  But, on thinking on it, it may be *because* of the $50/$5000 offer that I'm not getting the $50/$1000.

Chris.

Bend3r said:   
wilked said:   $1000 bill on electric!
  I charged $1000 to my electric company a few months ago, they charge a flat fee of ~$2.50.  Painless, cheap, way to meet some of the spend for ~$900 value bonus for opening spend on CSP.
$1000 covers almost 3 months for me in the peak summer or 7 months in the winter (except in TX there's 10 summer months and 2 months total for fall/winter/spring)

  Used to do that with my electrical and cable tv provider -- not longer an option, either will allow to charge more than the balance. They've gotten wiser!

wilked said:   Protip - when buying anything for $1000+, offer cash, and you will likely get better than a 5% discount
  
=You didn't finish my driveway.  Can you please refund me the cash I gave you?
=What cash? 

Sometimes, the protections that come with a credit card are worth the few extra bucks you are paying over a cash discount.  As always, every situation is different and no one rule of thumb covers all situations.

Estimated Income Tax payment due this coming week. That should work, right?
Even after the fee charged for using a CC it would be net positive.

Why am I not getting these emails?

Even though the terms state no prepaid cards, buying gift cards should work just fine.  Go to whatever store gives you the best standard bonus and sells gift cards and stock up on whatever you might use - just make sure to get $1000 worth.  Even if you don't need store/restaurant cards, $500 Vanilla VGC run $504.95, so you still make $40.10 if you buy two - plus your normal points.

Amex recently gave me a similar offer on my Blue Cash Preferred for an extra 1% cash back up to $75.  That makes it worth 7% at grocery stores.  I picked up some $500 Vanilla Visa gift cards ($4.95 purchase fee) to pay my property taxes.  Even after the purchase fee and 3% credit card payment fee I netted 3%.  I also buy them to use at Costco since I net 5.2% (without bonus 1%) vs. my best 2% Visa. 

The 1% bonus posted as a statement credit automatically a day or two later.  The normal 6% will post normally with statement close.

fattywallace said:   
Bend3r said:   
wilked said:   $1000 bill on electric!
  I charged $1000 to my electric company a few months ago, they charge a flat fee of ~$2.50.  Painless, cheap, way to meet some of the spend for ~$900 value bonus for opening spend on CSP.
$1000 covers almost 3 months for me in the peak summer or 7 months in the winter (except in TX there's 10 summer months and 2 months total for fall/winter/spring)

  Used to do that with my electrical and cable tv provider -- not longer an option, either will allow to charge more than the balance. They've gotten wiser!

  I'm hoping at worst they change to what my water provider does.  (Or electric, could have mixed them up...)  The water provider also charges a flat fee of somewhere in ~$2.50-$3.50, but it's per $500 increment.  So, $1 charge would have 1xfee, $500 charge would have 1xfee, $501-$1000 charge would have 2xfee.  But in all cases it's still under ~0.6% if I only pay a full $500.

PrincipalMember said:   
wilked said:   Protip - when buying anything for $1000+, offer cash, and you will likely get better than a 5% discount
  
Have you tried your protip with your electric company?

  Or gift cards...

However, he actually makes a good point for a lot of purchases. Just not when talking about taking advantage of credit card offers.

Sigh. I can't find $500 vanilla visas anywhere anymore in grocery stores, else this would be great with BCP.

BingBlangBlaow said:   However, he actually makes a good point for a lot of purchases. Just not when talking about taking advantage of credit card offers.
  I've found generally merchants don't want to discount for cash.  If you're really lucky you can get them to discount 2% or 3%, but really they're over-discounting at that point.  Usually they won't be paying much over 3% regardless of the card you use (especially for larger purchases).  Checks have lots of overhead to process them and also account for hot checks and hunting down insufficient funds.   Cash requires time, effort, and either scheduling time/money to run to the bank or paying an armored car service.

There are inept "small business owners" who see the cost of accepting cash at "0", but those are likely the same ones who would rather not offer any discount just because the customer doesn't deserve any pass-through of their saved credit card processing fees.  If they do it for you once, they set a precedent.

White van scammers seem like an exception where they'd want cash.  Or the other that would offer unreasonably large discounts would be "merchants" who might not report the cash sales and then they pocket the ~8% sales tax they collected plus they don't pay any income tax on the cash sales.

Bend3r said:   
BingBlangBlaow said:   However, he actually makes a good point for a lot of purchases. Just not when talking about taking advantage of credit card offers.
  I've found generally merchants don't want to discount for cash.  If you're really lucky you can get them to discount 2% or 3%, but really they're over-discounting at that point.  Usually they won't be paying much over 3% regardless of the card you use (especially for larger purchases).  Checks have lots of overhead to process them and also account for hot checks and hunting down insufficient funds.   Cash requires time, effort, and either scheduling time/money to run to the bank or paying an armored car service.

There are inept "small business owners" who see the cost of accepting cash at "0", but those are likely the same ones who would rather not offer any discount just because the customer doesn't deserve any pass-through of their saved credit card processing fees.  If they do it for you once, they set a precedent.

White van scammers seem like an exception where they'd want cash.  Or the other that would offer unreasonably large discounts would be "merchants" who might not report the cash sales and then they pocket the ~8% sales tax they collected plus they don't pay any income tax on the cash sales.

  
Some cost factors associated with accepting cash 
Time/Labor to deposit
Counterfeiting
Theft (not just armed thugs, employees steal too)
Armored courier services (that rusted out garda van isn't free)
Bank fees (believe it or not, many banks charge for cash services, both depositing and changing)

Even lower down the list would be time opportunity, possible audit flags, ...

But back to the topic.  Green for OP.  Instant 5% is always nice.

wilked said:   Protip - when buying anything for $1000+, offer cash, and you will likely get better than a 5% discount

Probably so, but Amex offers insurance which has nonzero value:

* "lost, stolen, or damaged item? We'll reimburse you the replacement costs"
* "want to return the item and vendor won't take it? We'll buy it from you"
* "merchant was a jerk? chargeback"
* double manufacturer warranty up to 1 extra year

Bend3r said:   
BingBlangBlaow said:   However, he actually makes a good point for a lot of purchases. Just not when talking about taking advantage of credit card offers.
  I've found generally merchants don't want to discount for cash.  If you're really lucky you can get them to discount 2% or 3%, but really they're over-discounting at that point.  Usually they won't be paying much over 3% regardless of the card you use (especially for larger purchases).  Checks have lots of overhead to process them and also account for hot checks and hunting down insufficient funds.   Cash requires time, effort, and either scheduling time/money to run to the bank or paying an armored car service.

There are inept "small business owners" who see the cost of accepting cash at "0", but those are likely the same ones who would rather not offer any discount just because the customer doesn't deserve any pass-through of their saved credit card processing fees.  If they do it for you once, they set a precedent.

White van scammers seem like an exception where they'd want cash.  Or the other that would offer unreasonably large discounts would be "merchants" who might not report the cash sales and then they pocket the ~8% sales tax they collected plus they don't pay any income tax on the cash sales.

  In my experience, business that offer large cash discounts do so because they will then "forget" to include those funds when they file their income and sales taxes.

amex serve ?

Tom9999 said:   Even though the terms state no prepaid cards, buying gift cards should work just fine.  Go to whatever store gives you the best standard bonus and sells gift cards and stock up on whatever you might use - just make sure to get $1000 worth.  Even if you don't need store/restaurant cards, $500 Vanilla VGC run $504.95, so you still make $40.10 if you buy two - plus your normal points.

Amex recently gave me a similar offer on my Blue Cash Preferred for an extra 1% cash back up to $75.  That makes it worth 7% at grocery stores.  I picked up some $500 Vanilla Visa gift cards ($4.95 purchase fee) to pay my property taxes.  Even after the purchase fee and 3% credit card payment fee I netted 3%.  I also buy them to use at Costco since I net 5.2% (without bonus 1%) vs. my best 2% Visa. 

The 1% bonus posted as a statement credit automatically a day or two later.  The normal 6% will post normally with statement close.

  
How long did it take to post?  Was it a few days after making the purchase, like a regular AmEx Offer?



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