Get 10,000 AMEX bonus points for enrolling in extended payment. Fortunately, this offer does not require actually using the extended payment option (which would be a bad idea, considering the high interest charges when using extended payment). As always, you should pay off all your rewards cards in full every month. If you carry any credit card debt, take care of that first, before you focus on miles and points credit cards for travel.
I've pasted the full offer agreement below–note that it says that not all cardmembers are eligible, so your mileage may vary. I was able to enroll my AMEX Premier Rewards Gold card in a few seconds, and got this confirmation:
I'm quite happy about this, as I recently did a Membership Rewards points advance, in order to take advantage of the current 50% AMEX transfer bonus to British Airways (see 50 Percent AMEX Transfer Bonus to British Airways Avios) to build our British Airways household account for a companion ticket redemption for 2013 travel.
Since I'm not sure I'll keep the Premier Rewards Gold card when it comes up for renewal, given the $175 annual fee, this 10,000 bonus comes in handy to help pay back that points advance, which I'll need to do if I end up closing the card.
AMEX Extended Payment Enrollment Link-10,000 Bonus Points
Offer Details:
- No fee to enroll
- Once enrolled you can continue to pay in full, or over time
- Purchases eligible for extended payment are clearly identified on your statement
- Only pay interest charges on purchases that are eligible to be paid over time
- To be eligible for bonus points, you must be enrolled in Membership Rewards at the time of enrollment in Extended Payment
- Only one bonus offer per Membership Rewards account
- Bonus points will be credited to your account within 6-8 weeks after enrollment
- Bonus ID: 7907 and 7775
Extended Payment Option is one of the Pay Over time features we may offer. Not all Cardmembers are eligible to use Pay Over Time features. Requests to pay over time are approved based on several factors including account history, current account status and credit record at time of request. In no event may the total Pay Over Time outstanding balance exceed $35,000, unless we notify you of a different amount. Consequently, any Charges that would cause your Pay Over Time balance to exceed that amount will be due in full. Please note that a Charge may be ineligible for extended payment even if it would not cause your Pay Over Time balance to exceed that amount.
If you enroll in the Extended Payment Option, we will automatically place all eligible charges made by you and any Additional Cardmembers on your account into your Pay Over Time balance. A charge is eligible to be paid over time if it equals or is more than $100 and is approved by us. This amount is subject to change and we will tell you if we change it. The following types of charges are ineligible for a Pay Over Time feature: Cash, American Express® Travelers Cheques and other cash substitutes, insurance, casinos and other gambling transactions, real estate transactions, commercial products (items for resale), American Express annual membership fees, or other transactions designated by us.
You currently have the Select & Pay feature available to you which can be used to request charges to be paid over time. If we approve your request, charges will be placed into a Pay Over Time balance. The terms and conditions previously disclosed to you in the Select & Pay and in the Pay Over Time section of your Cardmember Agreement (including any amendments and supplements) apply to your enrollment in Extended Payment Option.
The Annual Percentage Rate (“APR”) for Pay Over Time features may vary and is determined by adding the Prime Rate plus 14.99%, currently 18.24%. The Penalty APR may vary and is determined by adding the Prime Rate plus 23.99%, currently 27.24%. Variable APRs are accurate as of 04/09/2012. Please refer to your Cardmember Agreement for all other terms and conditions governing the use of Pay Over Time features.
As a benefit of this feature, eligible charges made by any Additional Cardmembers on your American Express Card Account will also qualify for extended payment.
This offer to enroll remains valid as long as you are a Cardmember in good standing and there has not been a material change to your credit worthiness.
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HT: Brian