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American Express Platinum 150,000 Point Sign Up Bonus

American Express is giving out a huge 150,000 point sign up bonus. This deal expires tomorrow, so I wanted to celebrate Free Money [1] Friday early to make sure you get a chance to take advantage of this deal today!

The spending requirements are steep and the annual fee is outrageous, but after doing the math and seeing the potential to make $1250+, I’m making it my first priority today!

How to Get Your 150,000 Point Sign Up Bonus

  1. Open a new American Express Business Platinum card by calling 1-877-628-6736 by May 15, 2015.
  2. Use offer code: L081-994-816-5743.
  3. Spend $20,000 in the first 3 months.
  4. Get 150,000 bonus points.

Terms and Conditions

  • $450 annual fee NOT WAIVED.
  • No foreign transaction fee.

More on American Express

Earning Points. You earn 1 point per dollar on each purchase and 2 points for each dollar of eligible purchases made when you book on the American Express Travel website.

Redeeming Points. See the Best Way to Maximize American Express Points [2] to get the most out of your points.

Airline Credits. The card comes with a $200 airline credit per calendar year; you could use the $200 credits both in 2015 and 2016 to offset the steep annual fee.

Do the Math. Redeeming the 170,000 points (150,000 bonus points plus 20,000 points on spending) for 1:1 conversion on points would yield $1,700 in gift cards. Less the annual fee of $450, we stand to make $1250 on our $20,000 spend, or 6.25%. If you opt for transfers to airlines, the points could be worth much more!

Sources. Credit to various sources that are buzzing about this offer today including: Doctor of Credit [3], Miles Per Day [4] and Reddit [5].