Have an AMEX EveryDay Card? A 25,000 Bonus Offer to Upgrade to an AMEX EveryDay Preferred Card is being targeted to many cardholders. Here are the offer details:
- If eligible, this offer will appear in your AMEX online account, under Your Offers
- Earn 25,000 bonus Membership Rewards points after spending $2000 in qualifying purchases within the first 3 months of card membership
- $95 annual fee for the AMEX EveryDay Preferred is charged (NOT waived)
Analysis: Is the 25K Bonus Offer Worth It?
Keep in mind that if you've never had the AMEX EveryDay Preferred card, by accepting the 25,000 bonus upgrade offer, you won't be eligible for a future AMEX EveryDay Preferred bonus offer. That's because for years now, AMEX Signup Bonuses have been Once in a Lifetime (the once in a lifetime policy applies to AMEX Business cards as well).
If you have previously had the AMEX EveryDay Preferred card and product changed to the no annual fee AMEX EveryDay card, this is a nice way to earn 25,000 Membership Rewards points for just the $95 annual fee. That's effectively buying Membership Rewards points for 0.38 cents per point, less than half a cent each, which is a great deal. Generally we recommend only redeeming AMEX Membership Rewards points at valuations of at least 2 cents per point, and preferably at 4 cents per point or more (since otherwise you could simply be using a cash back card). Note that if you buy AMEX Membership Rewards points in conjunction with transferring to an airline partner, you pay 2.5 cents per point.
Note that AMEX generally seeks to claw back points if you cancel too early, so be prepared to both pay the $95 annual fee and keep the card at least 12 months if you take this upgrade offer.
Have you received the 25K upgrade offer for your AMEX EveryDay card?
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