It’s Friday! So let’s get right to our Free Money offer for the week!
American Express is offering a $100 gift card for using the American Express Preferred Rewards Gold Card.
How to Get Your Gift Card
- Open a new American Express Preferred Rewards Gold Card and enroll in the Membership Rewards program.
- Spend $500 in 3 months to get 10,000 Membership Rewards bonus points.
- The bonus points will be credited to your account 6-8 weeks after your first purchase.
- Redeem points for a $100 dollar Gift Card.
Tips and Tricks
Gift Card Choices. I took a look at all the gift cards available. There are too many to list, but they had lots of hotels, restaurants, shopping, and various other choices. We have a new Ruth’s Chris Steak House, so I think that’s what we’d redeem it for!
Annual Fee Waived. The card does have an annual fee of $125 (plus $35 for additional cards). However, with this offer the fee is waived the first year for the basic card and for up to five additional cards.
For more information on the card, check out the American Express Preferred Rewards Gold Card information page.
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This sort of thing is tempting, since I usually have at least $500 on my credit card by the end of the month. The thing is I don’t need/want multiple credit cards, and isn’t having too many cards a red flag that damages your credit score? And if I signed up for it, used it for a month, got my gift card, and then canceled the card, doesn’t that hurt your score too?
February 6th, 2009 at 9:33 am
@ DSDM: I’ve often signed up for a card, used it to get the bonus, then canceled it (if there was an annual fee). While one card doesn’t do much harm to a credit score, it is something you have to consider.
I always make sure to pick and choose whether or not it’s worth it. For example, if I was planning to buy a new house soon, I would skip it.
February 8th, 2009 at 2:07 pm